Poudre Valley REA Announced Another Year with No Rate Increase
- No rate increase for cooperative members in 2021
- This marks the fifth year in a row without a rate increase
- PVREA continues to have among the lowest rates in the state
(November 6, 2020 - Fort Collins, Colo.) - Poudre Valley Rural Electric Association (PVREA) gives their cooperative members some consistency in a year fraught with unexpected changes. The locally owned electric co-op announced no increases to their rates for 2021. This marks five years in a row without a rate increase, making PVREA's rates among the lowest in the state.
PVREA serves nearly 47,000 homes and businesses in Boulder, Larimer and Weld Counties, mostly made up of residential homes. The announcement of no rate increase proves the co-op's intent to keep costs in check and manage operations efficiently.
"Our ability to keep rates affordable and stable starts with the leadership and sound strategic direction of the Board of Directors and is carried out each day by our dedicated employee team," PVREA President and CEO Jeff Wadsworth commented. "Our rate stabilization efforts are not stopping with 2021. We are doing everything we can to keep rates down now and in the future."
The co-op has deployed technologies that have increased the efficiency and effectiveness of business procedures and operations. PVREA also worked with their power supplier, Tri-State Generation and Transmission Association, on an aggressive rate reduction process that should result in lower wholesale power rates by 2023.
"Serving our members is at the heart and soul of who we are as a local cooperative. We're not working to make profits for shareholders; our goal is to provide our members and our community with the most affordable electricity possible while maintaining reliability and keeping best safety practices," Wadsworth said.
PVREA is a member-owned, not-for-profit electric distribution cooperative serving nearly 47,000 homes and businesses in Boulder, Larimer and Weld Counties in Northern Colorado. More information is available at www.pvrea.coop.
Sam Taggart, email@example.com, o: 970.282.6424, m: 970.286.1735