Connecticut Municipal Electric Energy Cooperative Statement

Trump signs bill aimed at promoting hydropower development
October 29, 2018

Connecticut Municipal Electric Energy Cooperative Statement

CONNECTICUT MUNICIPAL ELECTRIC ENERGY COOPERATIVE STATEMENT

On November 8, 2018, an indictment was returned by a United States Attorney grand jury in connection with an ongoing investigation conducted by federal authorities. We have fully cooperated with the government in this investigation, which includes members of CMEEC’s leadership team, along with several current and former Board members.

CMEEC’s leadership and Board take this matter very seriously. Effective immediately, CMEEC CEO Drew Rankin and CFO Edward Pryor have been placed on unpaid administrative leave to allow CMEEC to conduct an internal investigation. Michael Lane, CMEEC Director of Finance and Accounting, has been appointed Interim CEO.

In addition and pursuant to the CMEEC bylaws, John Bilda has been removed from his position on the CMEEC Board of Directors and Member Delegation.

Our intent throughout this process is to serve and represent our members in the best way possible. All staff remains in place and the company is fully operational. CMEEC’s core mission, to energize customers and community prosperity by delivering sustained lower-cost energy solutions, remains unchanged.

ABOUT CMEEC

The Connecticut Municipal Electric Energy Cooperative (CMEEC) is a public power entity that has provided electric services to municipal utilities and participating wholesale customers in New England for more than 40 years. By delivering sustained lower-cost energy solutions, the municipal utilities, in turn, can provide electricity to roughly 100,000 residential, commercial / industrial and small business customers located in the area. CMEEC recently expanded its service area to include municipalities and organizations in neighboring states. CMEEC is headquartered in Norwich, Conn. For more information, visit www.cmeec.com.