Applicant agrees to the following term and conditions
Applicant consents to being admitted a member of KEC. Applicant agrees to purchase electric service from KEC as soon as electric service shall be available. Applicant agrees to comply with and be bound by KEC’s Articles of Incorporation and Bylaws and any amendments thereto, written policies, procedures, resolutions and such rules and regulations as may from time to time be adopted by the board of directors.
To the best of Applicant’s knowledge, information and belief, the information set forth within this application including, but not limited to, the allotted credits, is true, accurate and correct. In the event any such information is later deemed to be inaccurate or incorrect, KEC reserves the right to recover the full amount of any resulting increase in costs and/or damages from the Applicant and Applicant agrees to pay the same.
Kootenai Electric Cooperative (KEC) wishes to make the installation of its electrical service to both residential and commercial customers as smooth and trouble-free as possible. While KEC attempts to compact its trenches, any time soil is excavated or disturbed there is some potential for settlement. KEC cannot and does not warrant (against settlement) utility trenches excavated for the purpose of installing underground power lines. By exercising this release, the undersigned acknowledges that KEC does not warrant its utility trenches against settlement and holds KEC harmless for any and all surface replacement(s) and/or repair(s) caused by or related to the settlement of the soil in the utility trench. Such repairs and the cost of said repairs shall remain the sole responsibility of the undersigned party for the installation of electrical power and any associated excavation at the applied for property. The undersigned acknowledges full acceptance of and sole liability and responsibility to pay and satisfy and/all costs, claims and/or damages should trench settlement result in any damages including, but not limited to, any cracks, dips, compaction, erosion or other excavation settlement related issues.
Unforeseen conditions may increase the project cost substantially. The applicant or member shall solely assume the risk of any and all increased costs resulting from any such unforeseen conditions. Should such circumstances arise during construction, the applicant will be notified of their options and cost to complete construction.
By signing, I acknowledge that I am authorized to execute this release for the electrical service located at the applied for property and hereby agree to indemnify, defend and hold KEC harmless from any and all damages associated with trench settlement issues at the service address. This includes claims from any and all third parties, including future owners of the service address.
By providing my wireless phone number to Kootenai Electric Cooperative, I agree and acknowledge that Kootenai Electric Cooperative may send text messages to my wireless phone number for any purpose, including marketing purposes.
Scholarship videos will be used during the application review process. Winners' photos and videos will be featured on Kootenai Electric Cooperative’s social media, web site, and newsletter.
An election to participate or not participate in the Kootenai Electric Cooperative (KEC) Early Discounted Capital Credit program is made by the KEC member account holder on a voluntary basis. Once a credit has been issued to you it cannot be reversed, unless it was produced by KEC in error. Members may change their selection at any time by contacting KEC at Capital Credits Email or (208) 765-1200. The option selected by a member will remain their choice for future years, or until KEC receives instructions from the member to change their option.
In order to calculate the cash value of your 2023 capital credits today (as opposed to waiting 28 years or more until they might be paid at their full value) we must make some financial assumptions. First, we need a discount rate. The discount rate we rely on equals our estimated cost of capital. The rate is currently 5.25% per year. This rate is established annually and may change in future years.
The second assumption we require is the number of years until the capital credits would otherwise be retired as a part of a traditional first-in-first-out capital credit retirement program. Our current retirement cycle is 28 years, but that can increase or decrease over time based on the financial needs of the cooperative and the related actions of KEC’s Board of Directors. Our current capital credit cycle is 28 years, which is used to determine the timeframe for the amount available under the Early Discounted Capital Credit program.
It is important to recognize that the difference between the capital you contributed during the year and the discounted amount you could receive early is not forfeited by you. The amount of the difference, also known as the discount, will be maintained in an equity account in your name. It is non-redeemable. However, in the unlikely event the Cooperative was dissolved as a corporate entity, the amount of your permanent investment would be the basis by which your portion of any net proceeds available following dissolution would be determined. This is unlikely to occur, and such an investment in KEC should be viewed as both illiquid and permanent in nature.
The process starts with a new member applying for service through our office or online. Then they work with 1 of KEC’s project engineering technicians to develop the plan and design to bring power to their property. When those details are finalized, KEC’s team uses computer software to determine the equipment needed to complete the project and the cost. KEC’s operations department then takes over the construction part of the project.
In my role, I work to be as efficient as possible when installing new services for members. In 1 day, we may need to install service in Harrison, Worley, and Athol. Other times, it may take 2 to 3 days to complete 1 new service installation. Each day I work with my crew to come up with a plan of attack. Sometimes the job entails changing out poles, and outdated equipment, or installing 4,000 feet of underground line. In addition, some of the work is for existing members who need an equipment upgrade, such as a larger electric panel.
