Electricities CEO Graham Edwards at Kinston City Council

Electricities CEO Graham Edwards (3:20) discussed the history, current trends and outlook of Public Power in Eastern NC.  Mr. Edwards discussed why refinancing our debt is not a plausible option at this time.  Later he provided me a chart which shows that refinancing would cost us over $280 million in the long run.

We also discussed future opportunities with Duke Energy.  I stated that, “I certainly support the idea of working with [Duke] on our generation assets to see if there is something we can do there.  Obviously, I think most of the cities if not all of them would like to hold on to their distribution assets.  But, certainly I’m open to the idea of discussions with them on the generation side.”

Kinston City Council Work Session for 11/19/2012
Kinston City Council Work Session part two for 11/19/2012 
Kinston City Council Regular Session for 11/19/2012