FOR IMMEDIATE RELEASE
CITY OF LEBANON:
Office: (417) 991-2310
LACLEDE ELECTRIC COOPERATIVE:
Manager of Communication and Member Service
Office: (417) 532-3164
City of Lebanon, Laclede Electric Cooperative to discuss possible purchase or management of City’s Electric System
The City of Lebanon and Laclede Electric Cooperative announced they have entered into discussions about the possible purchase or management of the City of Lebanon’s electric system by the Cooperative. The talks come as both organizations assess the uncertainty of increased electric distribution costs and labor, as well as forecasted increases in wholesale power supply costs.
According to Mayor Jared Carr, the goal of the conversation is to determine if the City of Lebanon electric customers could benefit from efficiencies created through the increased economy of scale.
Both parties will perform extensive and transparent studies to assess the potential benefits to the electric consumers of both the City and Laclede Electric. These studies will include long-range financial performance, rate stability, reliability, and operations.
City of Lebanon Mayor Jared Carr and Laclede Electric Cooperative CEO Marc Roecker commit that all existing employees, including the City’s electric department employees, will be retained if Laclede Electric Cooperative would purchase the City’s Electric System.
Officials expect these discussions will take several months before any recommendation can be made to either board.