As your member-owned electric cooperative, we are committed to looking out for our members’ best interest by delivering safe, reliable electricity at the most affordable cost — even during the significant cost pressures and price increases around us.
In the past few years, the cost of materials to maintain the power grid for operations has skyrocketed. Transformers have increased by 50%, meters by 100%, power lines by 80%, power poles by 20%, and line trucks by 30%. Suppliers tell us prices are not likely to decrease. This holds meaningful significance in our business reality, and we consistently manage it with you, our members, in mind.
We take great pride in the fact our members pay, on average, less for electricity than members of any other electric cooperative in Colorado. We anticipate this to remain true in the years to come. Our average residential rate compared to the national average illustrates our continued commitment to providing value to you, our members.
Our commitment to affordability and operational efficiency remains unwavering, even in the face of continued challenges, such as supply chain issues and a 2024 rate increase from our wholesale power supplier, Tri-State Generation and Transmission Association (Tri-State).
The most significant factor of our ability to provide you with affordable electricity are wholesale power costs. Roughly 80% of our expenses come from the price we pay to our wholesale power provider, Tri-State, for the electricity we provide you.
Your cooperative has worked hard to ensure our rates are as low as possible, while remaining true to our mission without sacrificing the reliability and exceptional service you deserve. This feat is a testament to our focus of providing value to our members while doing more with less.
While we cannot control outside cost pressures, we firmly believe in taking control of what lies within our reach — operational efficiency and fiscal responsibility. Our dedicated team is continuously working to optimize every aspect of your cooperative’s operations to lessen the impact of rising costs as we anticipate a small rate increase in 2024.
We will continue to communicate through the Colorado Country Life and on our website as we determine the full impact these factors will have on your rates.