Friday, April 17, 1998

Taylor Electric Cooperative chooses directors for three zones

By J.T. SMITH / Abilene Reporter-News

Some 1,150 from the eight counties represented by the Taylor Electric Cooperative turned out for the co-op's 59th annual meeting in the Taylor County Coliseum Thursday in Abilene.

Incumbents returning as directors were Buster Horton of Merkel, for Zone I; Sybil Norris of Oplin, Zone II; and R.C. "Sonny" Watts, Jr., Hylton, Zone III.

Zone I represents Taylor County, while Zone II is made up of Callahan, Eastland, Jones and Shackelford counties. Zone III comprises Coke, Fisher and Nolan counties.

Tommie Cutler, general manager of Taylor Electric at its Merkel headquarters, said 1997 was a good year for the cooperative. Margins for the year were $777,097.25. The cooperative's lenders require the cooperative to maintain a "times interest earned ratio" -- known as TIER -- of at least 1.5. Last year, the cooperative's TIER was 1.97.

The electric co-op also must keep an equity of at least 30 percent. Taylor Electric's equity for 1997 was 39.77 percent.

Kilowatt hour sales of electricity for last year exceeded those of 1996 by 1.5 percent, Cutler noted.

The cooperative paid its wholesale power suppliers $7.9 million in 1997, compared with $7.7 million in 1996.

Industry restructing remains big topic

The bill outlining the restructuring of the electric utility industry failed to pass the 1997 Texas legislature because it was introduced so late in the session.

"Too many questions remained unanswered on how it would affect cooperative members," Cutler said.

But Cutler said it is "more than likely" that restructuing will come up again in the Legislature during the 1999 session.

"Your cooperative -- along with all other cooperatives in the state -- are working to insure that any restructuring bill considered in the 1999 Legislature contains provisions assuring all co-op members will receive the benefits of any bill passed, not just certain classes of consumers," Cutler assured.

The annual meeting brochure was dedicated to the memory of Arnulfo Ascencio (A.C.) Cuin who died on Dec. 30 last year. He had retired last April after 38 years as an employee of Taylor Electric. A native of Celaya Guanajuata, Mexico, he worked for the Texas Highway Department and Paymaster's in Abilene before his long career with Taylor Electric.

A moment of silence in the Coliseum also was observed for Mr. Cuin.

Employees receiving service awards were: Hugh Baker, 40 years; Jerry Frank Patterson, 40 years; Betty Sloan, 20 years; Greg Henderson, manager of office services, 20 years; Ronnie Holmes, 20 years; James McKee, 20 years and Larry Sloan, a director of 15 years.