Representative Emerson, MO-8th District welcomed the large crowd at the beginning of the meeting.  She reported on the thousands of post cards she had received from BREC members through the Our Energy, Our Future campaign and encouraged everyone to stay engaged in the fight against carbon taxes and cap and trade legislation which will result in higher electric rates for co-op members.  Emerson recently cosponsored legislation designed to prevent the Environmental Protection Agency from usurping congressional energy policy by regulating carbon emissions on their own.

      Steska’s financial report detailed a stable 2009 financial position despite the significant, long-lasting impact of the May 8, 2009 storm which damaged a large percentage of BREC’s system.  Kilowatt-hour sales were down slightly and the membership base actually decreased by less than 1%.  But equity levels remain strong, the co-op is well positioned for the future and rates are expected to remain stable through the rest of 2010.                Steska reminded the crowd that as a cooperative, BREC is not in the business to make money and that margins accumulated during the year are allocated back to the members.  He announced that the Board of Directors has authorized a capital credits refund of more than $778,000 to co-op members, marking the twenty-ninth consecutive year BREC has been financially able to return money to its members.  In all, BREC has returned more than $36,000,000.  

      In other business, members elected three directors to serve three year terms on the co-op’s Board of Directors.   John Mark Bollinger of Sedgewickville was chosen from a field of four candidates vying for a seat in the Eastern District.  The position was open as a result of the retirement of L.L. Bridges, Jr. after 38 years of service (see related article).  Members also re-elected Robert W. Graham, Fredericktown and Harold E. Jordan, Lesterville from the Central and Western districts respectively.     

      The grand prize drawing for $500 was held at the conclusion of the meeting.  The winner was the First Baptist Church of Annapolis.

            BREC would like to say  “thank you” to everyone who took time from their busy schedules to join us for the meeting.  Remember, it’s not too early to mark Saturday, June 4, 2011 on your calendar, because we want to see you at next year’s annual meeting!