AEP subsidiary to buy Louisiana cooperative
Southwestern Electric Power Co. said that the 30,000 members of Valley Electric Membership Corp. will receive $30 million for their stake in the cooperative should the deal be approved. Members likely will vote early next year to dissolve the cooperative.
The cooperative's members are located south of Shreveport. The deal will double the size of Southwestern Electric's geographic footprint in Louisiana and bring economic opportunities along Interstate 49.
The utility has nearly 500,000 customers in Louisiana, Texas and Arkansas.
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Manitoba looking to raise electricity rates 2.5 per cent each year for 3 years
WINNIPEG - The Manitoba government is planning to raise electricity rates by 2.5 per cent a year over the next three years.
Finance Minister Scott Fielding says the increases, to be presented in a bill before the legislature, are the lowest in a decade and will help keep rates among the lowest in Canada.
Crown-owned Manitoba Hydro had asked for a 3.5 per cent increase this year to help pay off billions of dollars in debt.
“The way we figured this out, we looked at the rate increases that were approved by PUB (Public Utilities Board) over the last ten years, (and) we…
