Jemez Mountains Electric Cooperative’s largest commercial account, Kinder-Morgan won’t be opening in the 2021 fiscal year.
The oil and gas company that operates in the northern part of the state told Co-op managers it has no plans to reopen this year, Co-op general Manager Ernesto Gonzales said in the Co-op’s monthly board meeting.
In January 2020 Kinder Morgan made up 6 percent of the Co-op’s revenue with $281,000. This year it made up 1 percent with only $39,000.
The monthly financial books also compared January of this year to January of last year. Last January the economic outlook for the Co-op looked very different. More people are now at home, large industries are closed and smaller businesses are only now beginning to partially open.
In January the Co-op gained 39 new customers. While the average residential electricity usage was slightly up 50 kilowatt hours, 794 kilowatt hours in January to 744 January 2020. However ,in all other categories average electricity usage has greatly diminished. Most notably the average large commercial user is down 512,756 kilowatt hours to 167,644 kilowatt hours this year from 680,400 last year.
The Co-op sold 3.2 million fewer kilowatt hours this January compared to last year.
There were five more solar installs this January than last January, all residential. The Co-op also now has 12 fewer employees, down to 102.
“It’s hard enough when things are normal, and now it’s harder,” Gonzales said.
The Co-op is still in the possess of moving everything to its new building and has budgeted $100,000 for demolishing the old Co-op office.
During the Board meeting Gonzales said the $4.4 million that The Co-op took out in Paycheck Protection Program loans is eligible to be forgiven but until March will remain on the Co-ops books as a debt.