YVEA official: Co-op remains ‘strong’
Financials reported during group’s annual meeting Saturday
June 22, 2010
Steamboat Springs — Despite last year's decline in gross operating revenue, decrease in kilowatt-hour sales and fewer new service installations, Yampa Valley Electric Association officials reported to their members at Saturday's annual meeting that the cooperative remains financially sound.
"We're facing very difficult economic times but yet the association remaining strong," YVEA spokesman Jim Chappell said Monday.
Chappell said the YVEA Board of Directors reported Saturday at the meeting in Hayden that gross operating revenue dropped 7.4 percent in 2009 compared with 2008. Kilowatt-hour sales decreased 2.5 percent last year. And new service installations fell to 218 last year compared with 337 in 2008.
However, Chappell said outage minutes per month, per customer dropped from 15 minutes in 2008 to eight minutes in 2009.
And, he said, YVEA's year-end margins totaled approximately $3.5 million and total margins to be allocated to the cooperative's members is about $3.7 million.
Also at Saturday's annual meeting, the nearly 70 YVEA members in attendance voted to retain Sam Haslem for the District 5 board seat, which was up for election. Patty Bruchez and Dan Trevithick challenged Haslem for the seat, which represents Hayden.
Incumbent Dean Brosious, District 4, and incumbent Pat McClelland, District 7, will retain their seats after running unopposed.
In other action, members in attendance approved a resolution to deregulate from the Wyoming Public Utilities Commission. YVEA offers service in Baggs, Savery and Dixon, Wyo. The approval, which will allow YVEA to advertise and change rates 30 days later, will not affect Colorado members, Chappell said.
Chappell said YVEA members voted to deregulate from the Colorado Public Utilities Commission in 1982.