The Rotation Period

 For  the first 52 years Garkane operated, the rotation period for the return  of margins was 15 years. Then, in 1990 the rotation period was  increased to 20 years. It was, more recently, increased to 30 years. In  August of 2019 in an article written by Garkane CEO Dan McClendon and  signed by all Garkane Directors at that time, CEO McClendon  said: “In the recent past, Garkane has maintained a retirement schedule  approximating 30 years. Considering our current conditions, the Board  of Directors of Garkane Energy has recently directed management to drop  the rotation cycle of capital credits from 30 years to 20 years.” (See  LIGHTING THE PLATEAU page 130, foot-note 102; and, August 29, 2019  Reaper article signed by all members of the Garkane Board of Directors.) It is nowhere near 20 years yet... but as stated in the last Winter 2024 Highlights... they are still working on it. 

   Please take note that with the new base rate increase of ($5/month on each of the 15,000-ish Garkane Members) that creates a new yearly revenue of $1 million dollars.  Interesting how they promote front page that they are returning credits, but really they are increasing your base rate to cover it ....without explaining away that "it might appear that way", but really isn't.   That doesn't touch the capital credits.  Because, they don't have it.  IT IS SPENT.  

https://psc.utah.gov/?s=garkane&docket_year=&docket_category=&docket_type=tariff&category_name=tariff