By Bonnie Culverhouse

Today marked the end of the SWEPCO era with City of Minden residents.

In a special session at Minden City Hall Friday, council members voted to enact a resolution amending the budget and giving Mayor Nick Cox the authority to allocate that money and settle the previous contract with Southwestern Electric Power Company, the city’s provider of power for the past 16 years of a 20-year contract.

“The only way we could settle this was to agree to handle it appropriately, otherwise we were facing litigation,” Cox said.

Cox said he is not allowed to disclose the settlement amount, due to contract language that prohibits it.

“I can tell you it’s a really good deal for both parties,” he added. “The money is already appropriated to our energy costs.”

Funds allocated to buy out SWEPCO’s contract fall within certain parameters with a ceiling, however, the mayor said part of the deal with the energy company included a nondisclosure agreement.

“I can tell you it’s not as much as that ceiling,” Cox said. “But the end justifies the means. It’s a win for the city.”

Cox said by August, citizens will begin to feel the relief in their energy bills. 

“Everybody just needs to look toward LEPA because good days are coming,” Cox said. “It will be a month or two before we see significant savings, but then it’s going to be considerably good.”

SWEPCO recently notified the city of a $600,000 annual increase for what the mayor described as a “demand charge.”

“May 31, we are alleviated of that,” he said.

The contract had to be signed by 5 p.m. Friday in order to make the June 1 deadline to join Louisiana Energy and Power Authority.

“But don’t worry about SWEPCO, because today it was settled,” Cox said. “Now we just need to look toward LEPA … it’s a good day.”