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ERMU's 2016 Audited Financial Report is available on our website
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<br /> - -- Financials
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<br /> - -- On June 4, 2013, ERMU became the twelfth
<br /> � ,`� ., member of the Minnesota MunicipalPower
<br /> r Agency (MMPA). In preparation for when
<br /> our purchased power contract with Great
<br /> -"� . River Energy (GRE) ends in October 2018,
<br /> MMPA was selected as the optimal partner
<br /> =�� F.y - for our purchased power contract due to:
<br /> \ ,, , their current members being similar in size
<br /> s ;g and make-up of ERMU, and because their
<br /> portfolio of energy offerings do not include
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<br /> coal. It is anticipated that this will result in
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<br /> " ) vTii ,-7 more reasonable costs into the future. To
<br /> ` 11. `�� , become a member, ERMU has to buy-in to
<br /> -;,, - , the agency for our proportionate share of
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<br /> 4 \,nA' the agency; it's estimated that in October
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<br /> �' 2018 we will represent approximately 20% of
<br /> the agency. ERMU made a significant down
<br /> , � .!� p/�i � "` payment in 2016 towards this buy-in, allowing
<br /> ���4P.'z /.: �. ; : ERMU to obtain Lower interest rates than will
<br /> µ
<br /> 2.*•� ~ / ,�� ' - f 20 whenERMU t
<br /> ,..?� J /{ likely be present in , 18 starts
<br /> is �/- h�,�f/^<<ti . ,V �-- receiving power from MMPA. Ultimately,
<br /> '�- ,•11��;11;II �I��y,IL� = bonding this year was pro active financial
<br /> /., ,,f planning to take care of our customers
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<br /> �, �,1 now and into the future, in the most cost
<br /> f s ,4 '-'-''''. ', effective way.
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