— from Chris Thomerson, OPALCO Board Candidate (Incumbent) —
In running to retain my OPALCO Board seat, my goal, apart from getting us reliable high speed internet, emergency and cell phone coverage, is to ensure OPALCO continues to deliver the cleanest electricity, at lowest cost, when you need it, and, fairly allocates the costs of doing so.
During this ongoing recession we have held back rates, delayed grid updates and used up financial reserves. With recent revenue shortfalls, grid updates that will no longer wait, and future cable replacements upon us, we have had to increase rates to start replenishing reserves to keep our non-profit Cooperative healthy and sustainable.
Despite all this, OPALCO cost of electricity, adjusted for inflation, is still lower than 20 years ago. OPALCO electricity continues to be among the cleanest lowest cost in the nation. Check it out at https://is.gd/ypy5KNCheck it out at https://is.gd/ypy5KN
OPALCO and Rock Island:
The internet collaboration and merger with Rock Island is an extraordinarily important community benefitting achievement. Rock Island is now able to provide fiber Internet access that will invite economic development and create good paying jobs. Additionally, future Rock Island profits will provide a reliable revenue stream back to OPALCO to fund capital projects such as submarine electric cable replacements.
To be clear; the one and only cost to Electric members is the startup loan of $3/month/member for two years, which will be paid back in subsequent years.
The Board and management have ensured that electric members will not be paying Broadband User costs. Rock Island customers are paying all the costs of connection, (with advantageous financing options available through Islanders Bank). Rock Island customers monthly service fees will pay operational costs, and refund the $3/month start up loan from the electric members, once we are past the initial two year period.
RUS funds may only be used for Electric Grid projects. They are funding our Electric Grid Control expansion work, because it is exactly that, expansion of the Electric Grid Control infrastructure. Rest assured all Electric Grid Communication and Control expenses are for the Electric Grid, and they are not associated with Rock Island Broadband Services.
Rock Island finances are cleanly and completely separated from OPALCO. The independent auditing firm of Moss Adams is assisting to ensure this separation is inviolable. The independent accounting firm of NTH Degree will be handling Rock Island accounting. OPALCO employs Moss Adams to audit operations and finances. Moss Adams is highly qualified, experienced and reputable in auditing Electric Utilities and is intimately familiar with our chart of accounts and all our accounting methods and procedures. Moss Adams gave us a clean audit.
The Board has had the wisdom to make strong decisions based on painstaking factual research and a thorough understanding of the issues involved.
This important achievement is a giant step forward to providing affordable high speed internet, emergency and cell phone coverage. I confidently look forward to the County economy and OPALCO members reaping the benefits.
