CBEC Offers Early Retirement

Tuesday, 19 July 2011 15:26

Craig-Botetourt Electric Cooperative has offered an early-retirement package to 10 of its employees.

The move is intended to help forestall increases in the cost of electricity to its more than 7,000 member-owners.

Acceptance of this early-retirement package is entirely voluntary, according to Shawn Hildebrand, general manager of the cooperative. Among benefits included in the package is extension of insurance coverage to April 30 next year. It also makes available a retraining program for anyone who accepts the package but wants to re-enter the workforce.

“There have been significant increases in the cost of our purchased-power agreements,” said Hildebrand. “And there are more significant increases coming from our energy suppliers.” Hildebrand said these increases from the co-op’s power suppliers are due to costs associated with stringent new environmental regulations and other operating costs.

“The co-op’s board and management have been looking at every possible way to reduce the impact of these increases on our membership. We’ve expanded our use of technology, such as automated meter equipment, to help reduce costs. We feel like this early-retirement package is the most appropriate and fair way to further reduce expenses in the long run, without adversely affecting our people’s ability to support their families and themselves.”

Hours of operation at the cooperative’s New Castle office, where members can visit to pay their bills or sign up for service, remain unchanged, according to Hildebrand.

He added, “All decisions like this are made for the best interests of the membership. We’re working to keep rates as low as possible for our members, while providing them with the best possible electric and customer service.”