FINDLAY, OHIO – June 11, 2019 – More than 1,200 consumer-members and their families enjoyed food, games and entertainment June 8 at the 81st annual Hancock-Wood Electric Cooperative Business Meeting and Member Appreciation Day.
Board Chairman Tom Kagy announced the trustee election results for this year, which includes three newly elected trustees for Hancock-Wood Electric: Lee Anne Dierksheide, representing district 3, Duane Fry, representing district 6, and Ron Riegle, representing district 9. All three new trustees were administered the oath of office and took their seats on the board immediately.
The membership also voted on three proposed changes to the cooperative’s code of regulation: basic grammatical corrections, the change in title of secretary to secretary/treasurer and the elimination of trustee term limits. Item one passed 323 to 41, item two passed 277-83 and item three failed 105-273.
The day also consisted of a member appreciation day with food, family-friendly entertainment, kids’ games, and prizes.
Kagy and President and CEO George Walton updated members on important cooperative news during their reports.
“Hancock-Wood sales were up over 6% this past year,” Kagy said, describing a rare growth rate in Ohio. “A good portion of this increase came from commercial sales.”
“Management and the board do not anticipate any additional residential rate increases for the next few years,” Kagy continued, thanks to Hancock-Wood’s strong and stable finances. Kagy also highlighted efforts of the cooperative’s economic development organization, which has been working on promoting and marketing sites to attract new businesses and growth throughout Hancock-Wood’s service area.
Walton gave an update on system improvements that aim to increase service reliability “The board of directors approved $4.7 million dollars of investments in maintaining and operating the company’s distribution system,” he said. “Over the past 10 years, our engineering department completed substantial electric substation upgrades on 20 of the company’s 24 substations, which resulted in a total investment of $12 million. Engineering is making plans to do final upgrades on the remaining four substations.”
Hancock-Wood Electric Cooperative, established April 20, 1938, serves 13,000 accounts and more than 10,000 members in portions of Hancock, Wood, Allen, Erie, Hardin, Henry, Putnam, Sandusky, Seneca and Wyandot counties. The annual meeting is presented in accordance with one of the co-op’s operating principles — democratic control For more information about Hancock-Wood Electric Cooperative, visit www.hwe.coop or call 800-445-4840.