Paulding Putnam Electric Cooperative’s (PPEC) 88th Annual Meeting premiered on Facebook and YouTube at 10 a.m. on March 23. More than 2,500 viewers tuned in to watch the meeting over the weekend for co-op updates and a recap of 2023. This marks the highest viewership the co-op has seen for the Annual Meeting.
Board election results were announced by PPEC attorney Brian Gorrell, with each trustee elected to a three-year term. No candidates submitted petitions to run against the incumbents, so they were re-elected by affirmation. Incumbent Tim Derck of Antwerp was re-elected to District 3, incumbent Ken Niese of Ottawa was re-elected to District 7, and incumbent Adam Schnipke of Fort Jennings was re-elected to District 8.
Board Chairman Steve McMichael, Secretary-Treasurer Tim Derck, and President and CEO Randy Price reflected on 2023’s challenges and successes, highlighting how the cooperative provides “unmatched value” to its members.
“In 2023, power was available 99.99% of the time because we invest $3 million to $4 million each year in upgrades to our electric system, delivering unmatched power reliability,” McMichael said.
Price discussed the upcoming rate adjustment, approved by the PPEC board of trustees, effective on the electric bills PPEC mails in May (due in June). Due to rising costs, the average residential PPEC member using 1,200 kilowatt-hours a month will see a monthly increase of $26.45. Some members may see more or less, depending on their rate, home, and energy use. (Learn more on page 6.)
“Transmission prices have increased significantly in recent years,” Derck said. “In the past, the cost of transmission has been roughly 10% of our purchased power bill. Now, this cost is over 24% and is expected to continue rising.”
Derck elaborated that since 2020, average equipment prices for everyday materials like wire, poles, and transformers are up 40% to 60%. “A 50 KVA padmount transformer alone has seen a 78% price increase during the last four-year construction work plan,” Derck said.
The co-op’s last rate increase was in 2018, meaning the upcoming increase averages out to 1.6% per year over that six-year time frame. The average residential customer in Ohio pays 13.9 cents per kilowatt-hour, while the average Indiana customer pays 14.6 cents. After PPEC’s rate adjustment, the average residential Paulding Putnam member will pay 12.9 cents per kilowatt-hour — still lower than the average in both Ohio and Indiana.
“We truly do empathize with members and have delayed this rate increase as long as possible to reduce the impact on you,” Price stated. “Our average member’s bill is less than $7 a day. Think of all the ways electricity improves your life… that’s a pretty good value.”
Price reminded members that PPEC operates at-cost and does not aim to make a profit. “As a member-owned, not-for-profit co-op, maintaining dependable service at the most affordable price remains the cornerstone of our business model,” Price said.
In 2023, McMichael reported that PPEC paid $2.5 million back to 23,000-plus current and former members via capital credits patronage — a perk of co-op membership.
McMichael shared the various ways members can save, including free home energy audits, rebates, and load management programs from PPEC. He also shared that the co-op will be introducing a new feature to SmartHub this spring called “Home Energy Analytics,” giving members appliance usage breakdowns and estimated bill projections to better help them control electric bills. (Learn more on page 16C)
McMichael reported that, due to member growth in Indiana, the board approved a re-districting initiative to allow for more equitable representation in each of the nine board districts. Scipio, Maumee, Jefferson, and Jackson townships in Allen County, Indiana, are moving from District 5 to District 3. Crane Township in Paulding County, Ohio, is moving from District 3 to District 4. All other districts will stay the same. Members can see their districts listed at the top right of their bill.
Other 2023 highlights included:
- More than 1,700 members, families, and kids enjoyed PPEC’s 2023 Member Appreciation Day at Paulding County Fairgrounds. Members were reminded to save the date for this year’s event from 5–9 p.m. on Aug. 3 at the Fort Wayne Children’s Zoo.
- PPEC installed 202 new services and upgraded nearly 100, mainly due to growth on the west side of the co-op’s system around New Haven, Indiana.
- PPEC was recognized with three national “Spotlight on Excellence” awards through NRECA for Member Appreciation Day (Best Event), their REA employee program, and a SmartHub marketing campaign.
- Last fall, the co-op gave local legislators a tour of our Mone “peaking” gas plant in Convoy, Ohio, to educate them on how reliable electricity could be at risk due to dwindling baseload generation, increasing demand on the grid, and government energy policy.
- PPEC members have two new donation options for capital credits. Members can give their annual retirement to Operation Round Up for local groups who apply for specific charitable funding or to America’s Electric Cooperatives PAC to make their voices heard in the legislative world and help keep electricity reliable and affordable. Learn more or sign up online at PPEC.coop/capital-credits.
A total of $1,000 in bill credits was awarded in a drawing from members who watched the meeting and left a comment.
$100 BILL CREDIT WINNERS
- Kevin James
- Christina Connors
- Jonathan & Janice Buuck
$25 BILL CREDIT WINNERS
- Beatrice Geise
- Karin Weible
- Carolyn Westrick
- Paul and Melanie Strack
- Audrey Reichert
- Brooke Sinn
- Denny Korney
- Gary Carolyn Oberhaus
- Julie Brown
- Joyce Ron Verhoff
- Steve Hoffman
- Heather Palmer
- Deb Sorg
- Mark Collins
- Lisa Horstman
- Carly Smith
- Kevin Kettels
- Linda Webster
- Richard Coffman
- Sarah Heier
- Martin Warner
- Janice Gfell
- Elizabeth Heimann
- Deanna Rorick
- Nathan and Jill Patrick
- Laine Erhart
- Todd Sinn
- Jim and Julie Martz
To view the annual meeting, visit PPEC.coop/2024-annual-meeting. PPEC’s 2023 Annual Report and financials can be found there, too. For more info, call the office at 800-686-2357.
