The Arab Electric Cooperative has a long-standing financial problem with losses, of which customers and board members were reminded again Monday night. These losses are loosely defined as the difference in the number of kWhs TVA sells the cooperative versus the number of kWhs paid for by members.
Speaking at the regular June board meeting, manager Scott Spence talked about the challenges and the short-term and long-term steps being taken to correct them. He said he’s been advising the board for 18 months on the issue, including regular board updates in 2019.
Some of the issues from years past involved former employees that gave power away (to some) at the expense of the entire membership. Other aspects of the problem involves aged meters that just slow down over time. In addition to that, in years past, some meters were not documented as appropriately as they are today.
“We have a significant number of commercial meters that have not been reported accurately,” Spence said. “It has historically been a problem.”
For more on this story please pick up Saturday’s Tribune or purchase an e-edition.