The Board of Directors approved a set budget for the project, 2.3% of projected revenues. The anticipated growth of the cooperative will pay for the financed amount for the construction. Since this is a capital investment, the cost of the expansion will be depreciated over the life of the building. Our current facility has served our needs for more than 40 years and we expect our new facility to have a similar lifespan. The financing for the facility will be paid back over a 30-year period. This allows for members today and into the future to contribute to the benefit they receive.
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The hydro system is extremely beneficial to our region. We’ve taken the same approach for the past 25 years – we support scientifically sound efforts that are coordinated with a wide range of Northwest governments, tribes, and agencies, to restore salmon runs. We oppose needless or unproven measures that purport to help salmon and steelhead – such as calls to increase spill, or efforts to breach the Snake River dams or draw down the reservoirs. A good overview of issues affecting the hydro system can be found on the Northwest River Partners website. You may also sign up for email alerts from us on this issue at the Oreca Action website.
Wages and benefits for UEC employees totaled about 9 percent of our expenses during the past year.
Our largest expense? Nearly 75 percent of the revenues we received last year went to purchasing wholesale power.