October is National Co-op Month, so this is the perfect time to reflect on the cooperative principles that have stood the test of time and provide a framework for the future. Every cooperative adheres to the same set of seven principles — which you can read more about here. But how do our core values affect you, our members?
They guide our mission of providing you with reliable, affordable, efficient energy solutions with exceptional service. And because our core focus is on our members, we know how important our product is to your quality of life.
Resiliency of the grid is one of the most popular topics in the electric industry today. This concept made headlines in the wake of Hurricane Ida, which caused extraordinary damage to the electric grid resulting in sustained outages from Louisiana to New York. Lack of resilience has become the go-to-phrase to describe the grid during these events; but here at Poudre Valley what does grid resiliency mean for you?
Resiliency is many things: it’s reliability in your electric service, it’s our ability to efficiently restore your power, it’s being able to meet the demands of new technology, and it’s how we serve you with various generation sources without skipping a beat. Ultimately, resilience is how we deliver on our promise to improve the quality of life for our member-owners.
Our current $39 million four-year construction capital workplan has some of the largest system upgrades in our history. It’s a perfect example of removing old lines and replacing them with new power lines designed to withstand weather events, making additional electrical paths creating resiliency within the grid, as well as providing increased capacity to meet the power needs of our communities for the next 50 years.
Our cooperative values also ensure we continually focus on delivering our electricity to you both reliably and affordably. That’s why I’m proud that your co-op can deliver the lowest cooperative residential rate in the state. And we successfully passed an average 1.4% rate decrease on to our membership earlier this year. Once again proving how committed we are to being a great value for those we serve.
As a cooperative, our values guide us in giving back to our members and communities.
Last month we proudly gave back over $3.6 million through member credits. For the first time we are providing $20,000 in grants for local schoolteachers. We annually provide $53,000 in scholarships for high school seniors who are continuing their education. And in 2020 alone we gave over $100,000 to our community through donations and sponsorships.
As a member-owned cooperative, it’s not just about dollars — it’s about opportunity for all and being fair when engaging with our members. The cooperative way is a values-based business model, and I hope you feel value in being a part of your cooperative.
President & CEO