Public Power and Irrigation District dips into savings

The Central Nebraska Public Power and Irrigation District is being forced to dip into its cash reserves. The district’s board of directors has okayed taking nearly three-point-seven million dollars from its rainy day fund to meet needs. The spending plan for the year ahead totals more than $15 million. The prolonged drought has meant less water running into Lake McConaughy from upstream and less to run through the Kingsley power plant and the district’s supply canal plants. While the district made better than $12 million dollars a year from electricity a decade ago, next year it won’t likely even clear $5 million.