PEC Board approves $111.3 million capital improvement plan

The Board also voted to establish a committee to consider and make recommendations about compensation matters to the full Board. The committee will be comprised of PEC Board President and District 6 Director Larry Landaker and the chairpersons of two other committees

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http://preview.pec.coop/News/PressRelease.aspx?PRID=253

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March 16, 2010
FOR IMMEDIATE RELEASE

Pedernales Electric Cooperative’s Board of Directors voted at its Monday, March 15 meeting to approve the Cooperative’s capital improvement plan, which outlines the schedule and budget primarily for projects relating to improving the reliability and capacity of PEC’s electric distribution system. The plan, which forecasts to 2013, includes building and improving substations, constructing electric lines and upgrading transformers.

The Board’s approval allows PEC to begin work on projects outlined in the plan, including four transmission, 25 substation, 69 electric distribution and 60 general plant projects in 2010 alone. The plan projects a $111.3 million budget for this year’s projects, down from $141.1 million spent in 2008 and $133.9 million in 2009. PEC forecasts an even smaller capital improvement budget for 2013: $61.3 million. Projects required by demands from the Electric Reliability Council of Texas and the Texas Department of Transportation for infrastructure improvements and redesigns are included in the plan.

The capital improvement plan’s architect was PEC System Engineering Manager Robert Peterson. “We’ve taken a hard look at the electric system and weeded out a lot of the projects that simply don’t need to be done, and what we have left is a very good plan for the expansion of the system,” Peterson said.

The Board also voted to establish a committee to consider and make recommendations about compensation matters to the full Board. The committee will be comprised of PEC Board President and District 6 Director Larry Landaker and the chairpersons of two other committees, District 7 Director Dr. Patrick Cox and District 1 Director and Board Vice President Cristi Clement. District 5 Director R.B. Felps initiated the drive to establish the committee at the Board’s Feb. 22 meeting.