2016-2017 Strategy Map Completed
PVREA completed the 2-year Strategy Map that focused on specific objectives: the Quest for Zero (safety), Team Synergy, Operational Excellence, Financial Stewardship and Renowned Member Experience. The strategy map serves as a way to back our mission with a strategy that fulfills a bigger picture than just turning on your lights. It is important for PVREA to not only have a strategy, but to successfully execute our strategy to fulfill our mission. By successfully executing our strategy, we are able to deliver even more value to you, our members. The co-op is now engaged in a 2018-2020 strategy map.
No Rate Increase for 2018 & 2019
Based on the Cooperative’s financial health and management of costs, PVREA announced in 2017 that the co-op is holding the line on rates for 2018 AND 2019. As your not-for-profit cooperative, it’s our mission to provide not only safe and reliable electricity to you, but also affordable electricity. The Board of Directors and PVREA management worked to control costs and improve efficiencies to be able to implement no rate increases.
The co-op lowered our outstanding debt by refinancing, resulting in interest expense savings of $1.8 million. The co-op also transitioned out of the Rural Utilities Service (RUS), which is a government program that provides infrastructure funding for rural electric cooperatives. The co-op now solely borrows from banking institutions who are also cooperatives and operate under the same guiding principles that PVREA follows.
Hosted Member Appreciation BBQs
Over 600 members attended the 2017 Member Appreciation BBQs held throughout our service territory. The co-op served hotdogs and hamburgers, and members enjoyed “their slice of the co-op pie” - a small pie that symbolized the return of $3 million in capital credits. Members also enjoyed face painting, a bounce house, bean bag toss, bucket truck rides, Power, and the safety demo.
Kersey Solar Farm Installed
PVREA energized a 3.5-megawatt solar farm with over 40,000 solar panels near Kersey. Just like the Valley View and Skylark Solar Facilities that went live last year and in 2015, this array will be a generation source that will flow energy from the sun directly to PVREA substations to members in the surrounding area.
Coyote Ridge Solar Farm Installed & Community Solar Programs Implemented
PVREA built its third community solar farm located at the Larimer County Landfill, which provides access to solar energy for all PVREA members. Members can subscribe to panels in the solar farm through the myLocal Solar program, and in collaboration with GRID Alternatives, a portion of the solar farm is dedicated to income-qualified members through the PV for All program.
NRECA Regional Center Grant
In 2017, we received a grant from the National Rural Electric Cooperative Association to research and explore different energy services members could want and use in their home. Using this grant, we will continue to be your trusted energy advisor by understanding, embracing and exploring technology that is changing our industry and how you receive service from us.
Launched Drone Inspection Projects
PVREA recently used a technology that the co-op has never used before – drones. These devices are flown remotely to capture high quality video and photos, pinpointing areas needing the co-op’s attention. This bird’s-eye angle is very valuable as issues can be seen from the drone that are not visible from a ground-up view. Our crews then proactively replace equipment that will prevent future power outages. This eliminates several hundred hours of time and expense to patrol the lengthy line, also eliminating access issues we encounter when inspecting on foot or from a vehicle.
Retired $3 Million in Capital Credits
One of the benefits of being a member-owner is the allocation of “margins” in the form of capital credits. As a not-for-profit cooperative, PVREA strives to only collect enough revenue to maintain sufficient margins, which allows us to run and expand the Cooperative to meet growing energy needs. We return margins beyond what is required to maintain and operate the Cooperative to the members in the form of capital credits. In 2017, the co-op retired $3 million to members in capital credits, from years 2003 and 2016. Over 40,000 checks were issued to members.
Helped Energize Haiti
PVREA sent linemen Dane Hanson, Corey Haugo and Clay Sharp to the area of Caracol, Haiti– an area that up until a few years ago had no electricity - as part of a NRECA International project. Since 1962, NRECA International has worked on establishing and strengthening rural utilities across the world where poverty could be helped with access to electricity. Electric co-ops across the nation have been sending linemen and donating tools and trucks to NRECA International for a number of years. PVREA’s linemen spent two weeks helping Haitian linemen bring electricity to families. Check out the full story and video recap.