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Verdigris Valley Electric Cooperative provides electrical service in Nowata, Osage, Rogers, Tulsa and Washington Counties.
Verdigris Valley operates as a nonprofit organization. Therefore, all monies in excess of the operating costs and expenses of providing electric power to its members are credited to a capital credit account for each member. The amount allocated to member's capital credit account is based on your annual electric usage.

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Ted Wright -- last update 5/19/2006 (VVECselfRegulate.html)
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Copyright 2006 -- Collinsville, Oklahoma
Collinsville, Oklahoma
May 19, 2006
Members Vote to Remove VVEC
from Oklahoma Corporation
Commission Jurisdiction
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call Ted Wright (918) 371-1901 or send email to wrightted@aol.com.
May 19th Press Release

By a margin of more than 5,000 votes, VVEC members have approved returning their cooperative to self-regulation. This action removes VVEC from the jurisdiction of the Oklahoma Corporation Commission (OCC).

Members were mailed ballots in April and had until May 18 to vote and return their marked ballots by mail to an independent auditing firm who then tabulated the results.The cooperative’s board of trustees voted earlier this year to bring the proposal to a vote of the membership.

"We feel operating under OCC jurisdiction is simply a duplication of regulation," says John Hibdon, president of the board. "It’s a very expensive duplication. "We feel the fact co-ops are owned by their members – who elect trustees who are members and rate-payers just as they are – offers a level of accountability and responsiveness that isn’t found in other types of utilities. Dual regulation by the OCC costs VVEC members, on average, about $26,000 each year," he says, adding, "VVEC paid almost $104,000 in OCC-assessed fees between 2002 and 2005. These are fees that are passed on to the membership, but that the Commission prohibits us from listing separately on the bills."

Hibdon goes on to say the added level of bureaucracy slows down the board’s responsiveness to members and limits its flexibility in developing and adapting business policies and procedures.

VVEC trustees, management and staff were on hand at a May 18 meeting at the co-op to answer any questions on the proposal from members before voting. That was the only time members could vote in person. Only a handful of members attended and cast ballots.

Corey Haddock of the auditing firm Briscoe, Burke & Grigsby LLP, was there to report the result of the voting, once balloting had ceased.

He told the small group that 23,979 ballots were mailed the week of April 20. "Of those, 7,502 were returned," he said. He went on to report 6,300 ballots were cast in favor of removing the co-op from OCC jurisdiction; 1,193 were opposed and nine were categorized as 'undecided,' since it was difficult to read how the ballots were marked.

"We appreciate the members taking this matter seriously and casting informed votes," says John Hibdon, president of the VVEC Board of Trustees. "And we appreciate the confidence they have in their cooperative to allow it to return to member regulation."

VVEC’s vote brings to 26 the number of Oklahoma’s 28 electric cooperatives who have elected to terminate OCC jurisdiction.

Vote Had 6,300 Ballots In Favor and 1,193 Ballots Opposed
26 of Oklahoma’s 28 Electric Cooperatives Have Returned To Self-Regulation