Posted: Sep 22, 2012 6:21 PM by David Jay
Updated: Sep 22, 2012 10:57 PM
RED LODGE, MT - Bankruptcy or merging with another electric co-op, those are two of the options being considered by the Beartooth Electric Co-op.
The Co-op told its members it faces challenges and opportunity with almost a completely new board and an interim GM, as it deals with the Southern Montana Electric Co-op bankruptcy.
Beartooth Electric held it's 74th annual meeting at the Veterans Memorial Civic Center in Red Lodge.
"For the long term it's going to require a merger or consolidation or even an asset sale," said interim GM Richard Peck."Because our economic base of predominately residential customers doesn't bode well for the future. We don't have revenue to spread and share the costs."
Arleen Boyd, Beartooth board member and representative on the Southern board, says due dilligence is crucial as the co-op figures out its future.
Interim General Manager Dick Peck says Beartooth's potential responsibility in the Southern Montana Electric's bankruptcy...high electricity costs and its mostly residential customer base, contribute to the challenges.
Both Peck and Boyd say, the board will present the information and then it will be up to the members to decide Beartooth's future.
Also at the meeting, board president Roxie Melton announced that Peck will serve another year as interim GM, after taking the job five months ago.