May 2023 Energy News
May 03, 2023
Well, my snowmobiles, snow thrower, winter clothes, salt and shovels are all put away until they’re needed again in about 230 days. I know no one wants to think about next winter but our propane contracts will be mailed out in June. Once again, those who contracted last year came out money ahead as propane prices this past winter exceeded the contract price. I lock my propane price in every year because I know after 32 years in this business that propane prices typically increase during the winter months. You can almost set your watch by it.
If you are going to be installing a garden, planting a tree, putting in a fence or doing any other project that requires you to dig up your yard, please give us a call first if it is anywhere near the area your propane line can possibly be to prevent damage. Diggers Hotline will only detect the utilities coming to your home. They won’t detect any electrical or telephone lines running to outbuildings without a charge. They won’t mark the propane line without a charge either. If you need us to tell you where your propane line is, please give us a call. Propane lines are typically cut on weekends when us do-it-yourselfers are active. It can be an expensive endeavor to get us out there on a weekend if we weren’t called to mark the propane line in advance.
While we’ll all be busy with our spring projects, the energy division will be busy trenching in lines, setting tanks and performing service on propane systems. You may also see them at your house leveling the tank or recording regulator dates. Remember, gas regulators have a shelf life like all other products. If yours is over 25 years old, it should be replaced so that it doesn’t fail. When it does fail, if your luck is like mine it will be on the coldest night of the year and it will involve an expensive service call.
For the 10 people (including my mom) who read my newsletter article, you know how I’ve been sounding like a broken record on the water heater incentive. One of the last things I was involved with before my term as the president of the Wisconsin Propane Education and Research Council expired was expanding the program.
This program is called the Safe Appliance Installation Rebate. Not only did WiPERC increase the rebate amount for propane water heaters to $500 but WiPERC is now offering $300 for propane fueled dryers, fireplaces and kitchen stoves/cooktops. To read more, search for Wisconsin Propane Education and Research Council, click on WiPERC Safe Appliance Installation Program Rebate and then download the rebate program packet. Make sure you snap a photo of the old appliance data plate if you’re replacing an appliance. And make a copy of the bill because WiPERC will need that. You’ll also need to contact your local Premier Cooperative energy location so that we can do a leak test on your system and fill in our data. It's a pretty sweet deal.
I’ve had the honor of serving with several soldiers who were killed in action. Memorial Day is their day. If you can’t get to a ceremony honoring those who died in service to their country, take a moment to reflect on their sacrifice and the sacrifices of their families. A toast in remembrance would be appropriate. And enjoy the holiday.
We have completed our annual financial audit and I’m very pleased to report that your cooperative had another solid year in 2023. With highlights including consistent year over year growth from our feed division to lead our company in total sales to our energy team rebounding with the largest improvement to net income over the prior year, each division completed the year with strong sales and positive earnings. Premier will report our fiscal 2023 local net savings of $15 million and total revenues of just over $308 million will exceed previous records. Based on the strong 2023 results, and those of many prior years, we anticipate returning approximately $6 million in cash back to our members in the spring of 2024.