Writing this column allows me the opportunity to share some tremendous news with you and the rest of our co-op family. On April 27, 2021, your Poudre Valley REA Board of Directors approved a rate decrease for all members.
You can see your rate decrease as a power cost adjustment line item in your bill starting this month.
The average decrease of 1.4% equals an annual cost savings of $1.8 million for our membership. At a time when costs are rising all around us, we hope this can be an economic stimulus for the members we serve – including the families, ranches, businesses, schools and towns who are the heartbeat of our Northern Colorado communities.
Most of all, this rate decrease demonstrates why we exist – to make a positive impact in the lives of our members. Here at your local, not-for-profit electric co-op, we remain focused on affordability, reliability, and sustainability. And this recent rate decrease is evidence of all three factors working harmoniously together.
Through the sound leadership of your Board and our employee team’s dedicated commitment to affordability, we have held the line on expenses. For five years we have not raised your rates. As a result of this recent rate reduction, you, our members are now paying less for electricity than in 2017.
But equally important is reliability. We know electricity is a lifeline for the communities we serve. And you expect power to be there at the flip of a switch. Our employee team is striving to improve reliability through a variety of measures including, most recently, working to implement the use of drones to identify trouble spots during outages to reduce the time it takes to restore power.
As we continue towards our goal of providing you 80% renewable energy by 2030, we remain steadfast in our commitment to ensure our product continues to be of great value to you by remaining affordable and dependable.
The brightest part of our future will always be members, just like you. I also see a future of stable or even declining rates, reliable service, and conservation of our natural resources. We look forward to continually serving you and building a brighter future together, now and in the years to come.
President & CEO