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|Utilities Agree to Feasibility Study of Possible Merger|
Duck River Electric Membership Corp. (DREMC), headquartered in Shelbyville, TN., and Mount Pleasant Power System (MPPS), serving Mount Pleasant, have agreed to begin the feasibility study of a possible merger.
In a joint announcement, representatives of each utility said this is a preliminary step with no commitment made by either party explore what is best for the systems and their consumers.
DREMC serves 71,000 members in 16 counties of southern Middle Tennessee. Mount Pleasant Power System (MPPS) serves 3,800 cusotmers in the municipality of Mount Pleasant and rural parts of Maury and Lawrence counties.
The DREMC Board of Directors on Aug. 13th voted unanimously to undertake the study, which will focus on asset value, rates, system, and administrative integration, workforce retention and legal/regulatory issues.
DREMC is a non-profit, member-owned cooperative utility governed by a board of directors elected by those that receive and use the power. Like MPPS, the co-op purchases wholesale electricity from the TN Valley Authority.
Derek Church, GM of MPPS, said his board also voted unanimously on Aug. 13th to participate in the study.