The constituent members of ElectriCities last week voted to fill slots on its 14-member board of directors, reelecting one member and choosing four new ones.
The North Carolina Municipal Power Agency Number One reelected Barry Hayes, the mayor of Granite Falls, and elected Dub Dickson, a retired state legislator. The North Carolina Eastern Municipal Power Agency elected Ralph Puckett, who has been a commissioner with the agency since 1992, and Richard Hicks. The non-power agency member cities elected Milton Wofford.
The board oversees the operations of the power agencies, which have more than $5.4 billion of debt outstanding. ElectriCities is a service organization representing cities, towns, and universities that own electric distribution systems. Its board of directors consists of six members from NCMPA-1, six from NCEMPA, and two from non-power agency member cities.
ElectriCities was at the forefront of the debate surrounding deregulating North Carolina's electric utility market. The deregulation process hinges on defeasing the debt that was accumulated by the power agencies and the ElectriCities' member utilities.
Last year, state officials decided to delay taking any action to deregulate due to concerns that consumers would be saddled with skyrocketing rates as well as charges related to defeasing the massive debt.