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Southern bankruptcy makes gains

By Eleanor Guerrero

Carbon County News

Southern Montana Electric Transmission and Generation Cooperative,Inc.'s (Southern) bankruptcy took a new turn when attorneys for the debtors filed papers on Wednesday, March 26 in federal bankruptcy court in Billings regarding the mediation. Part of the filings included a Reorganization Plan Settlement Term Sheet with further details of the complex situation. There are currently four remaining cooperatives in Southern and a host of secured and unsecured debtors. The plan included some major breakthroughs such as letting Southern approve the (currently $70/mwh) rates and having insurance and indemnification for Southern for any liability for the Highwood Generating Station (HGS) through a trust. "Things are moving!" said Southern board member Arleen Boyd. 

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