Customer Newsletter, October 2008

Southern's Board Authorizes Bond Sale to Finance BANs, Future Growth

At their September meeting, Southern’s Board of Directors approved a resolution for the sale of $40 million in tax exempt bonds. The resolution was recommended by the Finance Committee of the district in order to refinance the Bond Anticipation Notes (BANs) that were utilized for emergency financing following the 2007 ice storm. Additionally, the Finance Committee reviewed the district's cash reserves and viewed a five-year projection of future growth.

In order to finance growth, the District examines two options--one being the issuance of bonds and another is a change to our rate structure. Our Board has hired an outside firm to modify our rate study that was conducted in 2007 to reflect current projections for growth, refinancing of the BANs, and any wholesale rate increases that will be implemented by NPPD. We will be examining rates in the months to come, and there will be a rate increase implemented 2009 that will be determined based upon the results of our rate study adjustments.

To stay on top of changes to your rates, we encourage you to watch for updates in your monthly newsletter, or you may log on to Southern’s website at www.southernpd.com, and look for rate watch icon.

Other stories you'll find inside this edition:
  • Now's the Time to Make Your Voice Heard
    • Next month, America will take to the polls to choose the next President of the United States, members of Congress, and in many cases state legislators and local officials. More>>>
  • Change the World...Start with Energy Star!
    • Southern Power District has once again joined the US Environmental Protection Agency's (EPA) Change the World, Start with ENERGY STAR campaign to encourage measures that reduce energy use in homes. More>>>
  • October is Built Around CFLs
    • The CFL--compact fluorescent light bulb--is an energy efficient product that can replace many, but not all, situations where a standard incandescent bulb has been used in the past. More>>>
  • Safety On Display at Husker Harvest Days
    • Linemen from Southern conducted hotline demonstrations at the "Public Power for Nebraska" booth on the third day of Husker Harvest Days. More>>>
  • Switch & Save Campaign Is Underway
    • For the second year in a row, Nebraska Public Power District and its wholesale customer utilities--including Southern Power District--will kick off a campaign on October 1st to encourage energy efficiency achieved through the installation of compact fluorescent lamps. More>>>