August 31, 2012 Update

Well it's been long time between posts. However, a lot's been happening and that just leaves enough time to take care of the basics of day-to-day living - even some of those get left out. It might also be a long time before a new post is made after this one but, every once in a while, the mood strikes and I gotta write. This is one of those times.

So here's a recap of what's going on:

The process of closing the deal with Puget Sound Energy, even though it's been almost four years, has progressed rather expeditiously with very few hiccups. Considering the circumstances, Puget Sound Energy was very accommodating. The Rural Utility Service (RUS) has approved the credit needed for acquisition and some to cover capital expenses at potentially very low rates. I say potentially because the rates don't kick in until the money is actually transferred. Whatever the interest rates are at that time is what we will be responsible for paying.

In this case that can be seen as the upside of a down market - if the market remains weak then interest rates are likely to remain low - at least that's the scuttlebutt implied from what the Fed Chair leads us to believe. And it appears we'll be in this slowball economic state for a while longer.

According to reliable sources the final touches should be accomplished and the switches thrown in the first quarter of 2013, assuming things continue as they have.

For numerous reasons the cost of the system has increased over initial projections but the revenues are expected to cover the loans and principle. At this time the PUD is still calculating what our rates will be so there is no specific information available. They are well aware that their job (and our concern) is to keep them as low as possible since the PUD isn't running a profit-making business.

A number of us ("us" being members of the local group of citizens who pushed for this acquisition) have been politely but consistently urging the formation of a Citizens Advisory Committee. The purpose of that body will be to assist the Commissioners doing whatever research needed, making recommendations and serving as a conduit between them and the community at large to support both the PUD and the citizens of East Jefferson County.

At the August 21st PUD meeting there was an agenda item to discuss the Citizens Advisory Committee but, unfortunately I was unable to attend. I'll find out what was discussed at our next C4LP meeting at 4PM next Friday, Sept 7 in the Conference Room of First Federal Bank.

If I remember, I'll post notes about that here, assuming life hasn't swallowed me up again.