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NHEC board candidate urges separation of electric and broadband finances
Summary
Carl Nolton, a candidate for the New Hampshire Electric Cooperative board, told the Select Board the co-op's broadband rollout and grid modernization programs are both capital-intensive and recommended clearer financial separation to prevent broadband operations from adversely affecting electric service finances.
Carl Nolton, introduced to the board as a candidate for the New Hampshire Electric Cooperative (NHEC) board of directors, said he brings three decades of finance experience and is focused on two major cooperative initiatives: a 10-year grid modernization capital program and a broadband rollout. "Both of those are very capital intensive," Nolton said.
Nolton said his principal concern is that the cooperative currently combines electric and broadband businesses and that electric customers may be subsidizing broadband in ways that obscure financial risk. "What I worry about is the broadband business could really impact adversely the electric business," he said, and advocated separating the businesses with clear financials and policies governing any subsidy or cross-subsidy arrangement.
Board members who had worked with NHEC previously described generally good relations and cited NHEC's past support for local projects, including a town solar array and earlier broadband service to more rural parts of the town. Nolton asked for feedback and said he would welcome Plymouth's support in the co-op election.
Why it matters: as rural electric cooperatives expand into broadband, governance and clarity around cross-subsidies and capital allocation can affect ratepayers and local service priorities. Nolton's pitch centers on transparency and risk management for local stakeholders.
Next steps: Nolton will receive ballots mailed to members; the board provided informal feedback about local experience with NHEC projects and did not take a formal endorsement action.
