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Tombigbee Electric Power Association
2018 Annual Meeting and Director
Election Results
On Saturday, August 11, 2018 at 10:00 am, Tombigbee Electric Power
Association (TEPA) held its 85th Annual Meeting, as required by the
Association’s Bylaws. The purpose of the meeting is twofold: to nominate
eligible Association members for the director election; and to update the
membership for activities and financial matters for the prior fiscal year.
Members are provided public notice by area newspapers, the Association’s
website and by notice on facebook and tweeter encouraging them to attend
the Annual Meeting held at the Association auditorium. The Auditing firm
of Franks, Franks, Wilemon & Hagood, CPAs, was selected during the
Annual Meeting to tally and present Director Election results. Results were
reported and certified according to Association Bylaw requirements during a
September 6, 2018 Association Executive Committee meeting.
During this year’s election, twenty (20) members qualified and were listed
on the ballot. From those twenty candidates nominated and confirmed at the
annual meeting, five (5) were elected by members during the election process
to serve on the Board. Association members elected to three-year terms as
Directors are: from Itawamba County: Jim Gray (Fulton) and Andy Spradling
(Mantachie); and from Lee County: Steve Holland (Plantersville), Don Knight
(Saltillo) and Cecil Weeks (Auburn). These five members elected represent
one-third of the total 15-member board and each director serves a 3-year term.
In addition to ballot preparation details during the Annual Meeting, TEPA staff
provided member attendees with Association operating details. For the fiscal
year ending June 2018, TEPA serves 43,610 members and operates 4,176
miles of electric lines throughout the more than 1,000 square mile service
area. TEPA serves predominately Itawamba and Lee Counties and portions
of the six adjoining counties. In fiscal year 2018, TEPA’s customer base grew
slightly less than 1 percent with most growth occurring in the residential and
small business/commercial sectors. Total retail electric sales were $115.8
Million. Wholesale power cost paid to TVA was $89.8 Million. Ending June
2018, the total investment in system electric plant assets is $219.4 Million and
the depreciated value of system assets is $118.2 Million. TEPA’s long term
debt is $4.45 Million. TEPA staff reported to members that a 1.5% increase in
retail revenue will begin October 2018. This is TEPA’s first retail rate increase
to members since 2009.
TEPA purchases all its electric power for resale to members from TVA. TVA
regulates and approves TEPA retail rates and other service charges. Retail
sales less wholesale power cost paid to TVA is utilized to meet system growth
needs and expansion and maintenance costs. Wholesale power cost alone
represents approximately 77.5 cents of every dollar paid to TEPA by its
members. All work completed and system growth to accommodate member
needs is paid for with this remaining 22.5 cent portion of revenue dollars.
For more information, or to register questions or concerns or to learn more
about your member electric cooperative, please visit the TEPA website
at www.tepa1.com or write to P. O. Drawer 1789, Tupelo, MS, 38802.
Additional regional electric supply and electric program information can be
found at the TVA website, www.tva.gov.

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