In a Co-op, Every Member Gets a Piece of the Pie - Message from the CEO

Every member gets a piece of the co-op pie at PVREA. Membership in this cooperative means you are a member-owner of PVREA. As a member-owner, you contribute equitably to, and democratically control, the co-op.

   
  Jeff Wadsworth, CEO  
     

Every time you pay your bill, you’re covering the costs of electricity and to a small extent, contributing to the capital of the co-op. Throughout your years of membership, you are building equity in your co-op. Futhermore, you get your piece of the co-op pie when your Board of Directors allocate and retire capital credits.

You do your part, and we do our part as well to take care of your piece of the pie at the co-op. One of our strategic goals in PVREA’s Strategic Plan is Financial Stewardship, meaning we have an obligation to take care of your equity at the co-op, and the Strategic Plan maps out how we’re going to do it.

In our Financial Stewardship goal, we revamped the budget process, refinancing our debt saving members thousands of dollars, and will study the cost of providing service to guarantee our rates are appropriate to cover the co-op’s expenses. All of these efforts contribute to fulfilling our initiatives of controlling distribution operating costs, hold a competitive rate structure and manage our wholesale power cost.

Additionally, every month we’re looking out for your piece of the co-op pie at the monthly board meeting. Your Board sets the financial standards for the co-op and holds us accountable for running finances in the most economical and responsible way possible. It’s our duty to you, our members, and we’re looking out for your best interest in every dollar we spend.

Capital credits is another one of the financial matters our Board of Directors reviews, and is one of the best benefits of having membership in a cooperative. This year the Board of Directors elected to retire $3 million in capital credits for the years 2002, 2003 and 2015. This means if you were a member in any of those years, and have accumulated capital credits of $10 or more, you will receive a capital credits check in the mail the beginning of September. It’s your slice of the pie.

Our Strategic Plan and the retirement of Capital Credits is testament to the fact that PVREA cares for you, our member. We want you to get your slice of the pie, because after all, you’re part of this co-op. PVREA is not some large power company headquartered in a far off state with stockholders from around the world. We are right here in Northern Colorado, governed and guided by your Board of Directors and owned by members. We make sure our focus is on you, the member-owner, and that everyone gets a slice of the co-op pie.

Date Posted: 8/29/2016