Rates, Reliability, and Renewables
November is a time for reflection and giving thanks. When you think about PVREA, I hope you are thankful for receiving an essential service, such as electricity, from a board of directors and employee team that live and work right here in the communities we serve. In this month of reflection, I want to provide a brief update on three areas of our business I receive the most questions about - Rates, Reliability, and Renewables.
Holding the Line on Rates - 2020 & 2021
If you’ve been paying attention to what is happening with electric rates in Colorado and around our area lately, you might expect PVREA to hit you with a rate increase. Well, I have some great news for you, our member. We will not be raising rates in 2020 or 2021. That will be four straight years without a rate increase. This is possible due to sound business practices, including:
- Deploying technologies that have made us more effective even as we have seen unprecedented growth.
- Streamlining processes that have created efficiencies allowing us to do more with less.
- Access to low cost of capital due to PVREA being a financially healthy co-op.
Improvements in Reliability
Our reliability is the best we have seen. I hope you have noticed this, as well. Over the past several years, we have embarked on a project to “sectionalize” our distribution lines. We are nearly done with this project, and our numbers have steadily improved. Along with sectionalizing, we have used technology, such as drones, to maximize our line inspections and vegetation management. Of course, when the lights do go out, I am thankful for our top-notch linemen who brave the elements to put the fire back in the line. They do this professionally, efficiently, and most importantly, in the safest manner.
Adding more Local Renewables
As our industry goes through extraordinary changes with the adoption of renewables onto the electric grid, your co-op continues to be a leader in adding local renewables in a cost-effective manner. This is not as simple as most would assume. It requires in-depth engineering and analysis to ensure the grid remains reliable, steadfast, and affordable. In the coming months, we will be adding two megawatts onto our grid, bringing our total local renewable capacity to 26 megawatts. These local resources produce enough energy to serve 4,200 homes.
November is a time of year for reflection and giving thanks. I am grateful to share this great news about your co-op and how we serve you and our broader community. We have a strong Board of Directors and an employee team focused on serving Northern Colorado - and that is something in which to be truly thankful.
President & CEO