News & Events
By Reg Rudolph || General Manager
No Rate Increases for San Isabel Members Until the Year 2020!
At the San Isabel Electric Annual Meeting last September, I announced that our forecasting and strategic vision showed a rate increase wouldn’t be necessary until 2020.
This is an important message that your cooperative wants to get out to every Member because it’s great news and an indication of how San Isabel Electric is working to bring each Member the greatest value possible.
The Board of Directors adopted a strategic plan in 2009 that included three themes; Affordability, Reliability and Service. Again in 2016, the Board re-affirmed those strategic themes. Affordability is a critical piece of the strategy, because affordable electricity helps drive our local economy. Being the lowest cost energy provider in southern Colorado is our goal and we are on the right track.
Since 2010, San Isabel Electric had only one increase in retail electric rates. Through an aggressive cost control plan, rates were increased only one time. That was in 2014. This track record of stable rates and controlling costs is helping our membership keep the money that would otherwise be spent on electricity, in their own pockets. Helping the Members save money is very important to San Isabel Electric.
How does San Isabel compare to other electric utilities in southern Colorado? A recent article in the Pueblo Chieftain is quoted as saying “in January, a typical Black Hills household bill was $122…San Isabel Electric, the other local electric utility, charged $118 that month.” So despite serving a mostly sparse and rural landmass in southern Colorado and having about one-fourth of the meters, San Isabel is providing power to our Members at a lower cost. And with a forecast of rate stability until 2020, the future is looking promising for San Isabel Electric Members and southern Colorado.
In addition to rate stability, another benefit of cooperative ownership is capital credit retirements. As a cooperative, San Isabel is owned by those we serve. So if you purchase power from San Isabel and a margin or profit is generated, a pro rata share of those earnings are allocated or assigned to each Member. Very soon Members will be sent allocation statements showing what their Sweet Rewards for cooperative membership were for 2015.
The Board of Directors will also make a decision very soon to retire past capital credit allocations, sending money back to those former Members that contributed to the success of San Isabel Electric.
There has never been a better time to be a Member of San Isabel Electric Association. The future looks bright as rate stability provides certainty, and the return of your capital credits is increasing.
Chelsie West, Communications Manager: