Beartooth Electric to leave bankrupt wholesale supplier
By Matt Volz
HELENA (AP) – Red Lodge’s Beartooth Electric Cooperative plans to leave the four-member Southern Montana Electric Generation and Transmission Cooperative this fall once Beartooth pays off its share of the bankrupt wholesale power supplier’s debt.
That amounts to $1.2 million for the defunct Highwood Generating Station and about $200,000 to unsecured creditors, Beartooth board member Arleen Boyd said Thursday.
The departure has been planned for some time, and cutting ties with Southern now will allow Beartooth to better secure a long-term power supply contract and negotiate with potential business partners, Boyd said.
“We’re looking at a very nice market for power right now, but we’re looking at our own future,” Boyd said. “It clears the deck and makes a business proposition clearer and cleaner and easier to reach.”