Retirement of $4.5 Million on its way to Members Beginning in Late May

United Power is more than your local electric utility and you are more than a consumer. Over the past two years, we have had to navigate pandemic restrictions, making provisions for the health of the cooperative and also to support our members. The decisions we made were not to satisfy invisible investors or generate profits, but to serve our members and our communities. It is just part of what makes cooperative membership different.

Another member benefit that sets us apart is the retirement of capital credits. This year, our members will be part of United Power’s 16th consecutive retirement. If you are new to the cooperative or unfamiliar with this process, capital credits represent your investment in the co-op. Here’s how it works:

Becoming a Member

The moment you start receiving electric service from United Power, you become a member and an owner of the cooperative. As a member, you have unique privileges, one of which is economic participation. A portion of each electric bill you pay goes toward the cooperative’s operation and infrastructure, which you have an ownership stake in. Members may also vote annually in board elections or run for a seat on the Board to make their voices heard. (A full recap of the 2022 Annual Meeting is available on page 10.) By actively engaging and participating with the cooperative, you will always have a voice in our operation.

Allocation of Capital Credits

Every spring, United Power looks at the prior year and any funds remaining after all expenses have been paid are allocated to members based on the prior year’s electric consumption – the more power you use, the larger your allocation will be.

The allocation is not a check, but a representation of your ownership in the cooperative, i.e. the amount of money you have invested into the electric system based on your electric consumption. The funds are tracked, but not accessible in the form of cash. You are notified of your allocation amount on your bill in May each year.

Retirement of Capital Credits

Annually, the Board of Directors carefully assesses the financial condition of the cooperative and determines what amount of capital credits are eligible for retirement. If the Board decides a retirement is feasible, the money is paid out, or “retired,” from each member’s account. This year, the Board approved a $4.5 million retirement. Those retirements will be distributed beginning in late May.

Anyone who had service in 2021 or earlier will be eligible to receive a refund. Refunds more than $50 will arrive as a check, and members who receive a refund less than $50 will see it reflected on their billing statement as a credit. Look for this credit on your bill in May or June.

“There isn’t a more tangible benefit of cooperative membership than receiving money back on your investment in the utility itself,” said Mark A. Gabriel, United Power’s President and Chief Executive Officer. “Your investment not only makes you an owner, but helps ensure the resiliency of our system, the reliability of your power, and the affordability of our rates. It is a tangible representation of your value as both a member and an owner.”

Capital credit retirements have returned a steady stream of money back to members in recent years. During the last 15 years, the cooperative has been able to retire millions of dollars back to its members.

Want to learn more about capital credits? Frequently asked questions can be found at www.unitedpower.com or you can call a member services representative at 303-637-1300.

IMPORTANT REMINDERS

If you move, please be sure to leave your new address with us so we can continue to refund any capital credits you are eligible to receive in the future.

Upon death, the deceased member’s capital credit account is available for estate retirement. The representative of the estate should contact United Power to settle the capital credit account.

Martin Elected as New Board Chairman, Vigesaa Elected Vice-Chairman

Brighton, CO – The United Power Board of Directors elected new officers at its regular meeting in April. Directors elected Elizabeth “Beth” A. Martin to serve as the new chairman and James Vigesaa to fill the vice-chairman’s position. Keith Alquist, treasurer; Tim Erickson, secretary; and Tamra Waltemath, assistant secretary/treasurer, each retained their existing officer roles. The Board elects new officers at its regular meeting following the cooperative’s Annual Meeting each year.

Martin, who was re-elected at this year’s Annual Meeting held on April 13, replaces Ursula J. Morgan as chairman. Morgan had served in the position the previous two years. Since her election to the Board in 2010, Martin has filled several officer positions, including vice-chairman, secretary, and assistant secretary/treasurer.

Vigesaa was elected to fill the vice-chairman position vacated by Martin after moving to chairman. He was elected to the Board in 2011 and previously served as chairman from 2017-2019.

Keith Alquist and Tamra Waltemath, both elected to the Board in 2017, have served as treasurer and assistant secretary/treasurer, respectively, since 2019. Tim Erickson, who was elected in 2009, succeeded Martin as secretary in 2020.

United Power is a member-owned, not-for-profit electric cooperative, delivering electricity to homes, farms and businesses throughout Colorado’s northern front range. The cooperative is one of the fastest-growing electric cooperatives in the nation, and in June 2021 joined the elite ranks of cooperatives serving more than 100,000 meters. The 900-square mile service territory extends from the mountains of Coal Creek and Golden Gate Canyon, along the I-25 corridor and Carbon Valley region, to the farmlands of Brighton, Hudson and Keenesburg. United Power is also a founding member of the NextGen Cooperative Alliance, which is dedicated to expanding the power supply and procurement options available to distribution co-ops and reforming the traditional generation and transmission business model. For more information about United Power, visit www.unitedpower.com or follow the cooperative on Facebook, Twitter, LinkedIn, YouTube and Instagram.

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New Fast Charger is Third in Cooperative’s Network

Brighton, CO – United Power announced its third public electric vehicle (EV) fast charging station at a ribbon cutting event on Wednesday. The newest charging station in the cooperative’s growing network is located at its Carbon Valley office along Interstate 25, just south of Longmont, and fills a 30-mile gap in available charging options between Thornton and Loveland. All three charging stations are part of the ChargePoint network.

“Nearly 5,000 United Power members own electric vehicles,” said Mark A. Gabriel, United Power’s President and Chief Executive Officer. “We stand committed to strategically deploying a charging network capable of supporting our members and the thousands of others who commute daily throughout our territory.”

The charging station at United Power’s Carbon Valley Service Center is a 62.5 kW direct current (DC) fast charger available for anyone who has set up a ChargePoint account. Individuals may create an account using ChargePoint’s mobile app or an activation card available through the mail. The charging station was installed with the help of a grant from Tri-State Generation & Transmission.

United Power has paid careful attention to the growing electric and plug-in hybrid vehicle markets and rapid adoption of the technology among its members. The cooperative’s first charging station was installed at its Coal Creek office in 2019, and its second was added at Keenesburg’s Market Street Mart in 2021. These strategic locations fill gaps where charging was previously unavailable and made EV ownership more feasible for rural members. An online educational portal, savings calculator and additional resources are available for members interested in EVs at ChooseEV.

“Our goal is making electric vehicle ownership more practical and accessible for more of our members, especially those who live in rural areas,” Gabriel said. “We do that by considering the appropriate opportunities and the right programs that meet the needs of our members.”

United Power is a member-owned, not-for-profit electric cooperative, delivering electricity to homes, farms and businesses throughout Colorado’s northern front range. The cooperative is one of the fastest-growing electric cooperatives in the nation, and in June 2021 joined the elite ranks of cooperatives serving more than 100,000 meters. The 900-square mile service territory extends from the mountains of Coal Creek and Golden Gate Canyon, along the I-25 corridor and Carbon Valley region, to the farmlands of Brighton, Hudson and Keenesburg. United Power is also a founding member of the NextGen Cooperative Alliance, which is dedicated to expanding the power supply and procurement options available to distribution co-ops and reforming the traditional generation and transmission business model. For more information about United Power, visit www.unitedpower.com or follow the cooperative on Facebook, Twitter, LinkedIn, YouTube and Instagram.

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Brighton, CO – United Power proudly announces its scholarship recipients for 2022. Each year, the cooperative awards more than $20,000 in scholarships to outstanding students in its service territory. The United Power Scholarship Committee selected 19 high school seniors based on grades, test scores, extracurricular activities, community involvement and a written essay. Applications are made available by December each year.

2022 scholarship recipients include:

• Kira Donahue, Legacy High School, United Power Colorado College Scholarship, $2,000
• Michael Garcia, Eagle Ridge Academy, United Power Colorado College Scholarship, $2,000
• Sophia Meza, Frederick High School, United Power Youth Leadership Scholarship, $1,500
• Lauryn Daniel, Erie High School, Basin Electric Power Cooperative Scholarship, $1,000
• Bethany Parker, Frederick High School, Tri-State Generation & Transmission Scholarship, $1,000
• Hayley Price, Mead High School, Lois Lesser Education Scholarship, $1,000
• Will Greiner, Frederick High School, Bill Berens Memorial Scholarship, $1,000

Additionally, United Power dedicates a book scholarship to each high school within its service territory, provided students from those schools submit applications. This year, United Power distributed 12 of these $1,000 scholarships, including two “at-large” selections. Dedicated book scholarships for 2022 were awarded to:

• Giana Rocha, Brighton High School
• Adrien Ambrosio, Eagle Ridge Academy
• Kaitlyn Fitzjohn, Erie High School
• Elizabeth Schmidt, Frederick High School
• Jennifer Silva Garcia, Fort Lupton High School
• Elsa Burgesser, Mead High School
• Aubree Burris, Prairie View High School
• Ximena Navarro, Riverdale Ridge High School
• Cesar Calixto, Weld Central High School
• Halle Yocom, Mountain Territory
• Daniela Guadana Huizar, at-large selection
• Audrey Long, at-large selection.

More information about United Power’s 2022 scholarship recipients can be found in the co-op’s monthly newsletter to members.

United Power is a member-owned, not-for-profit electric cooperative, delivering electricity to homes, farms and businesses throughout Colorado’s northern front range. The cooperative is one of the fastest-growing electric cooperatives in the nation, and in June 2021 joined the elite ranks of cooperatives serving more than 100,000 meters. The 900-square mile service territory extends from the mountains of Coal Creek and Golden Gate Canyon, along the I-25 corridor and Carbon Valley region, to the farmlands of Brighton, Hudson and Keenesburg. United Power is also a founding member of the NextGen Cooperative Alliance, which is dedicated to expanding the power supply and procurement options available to distribution co-ops and reforming the traditional generation and transmission business model. For more information about United Power, visit www.unitedpower.com or follow the cooperative on Facebook, Twitter, LinkedIn, YouTube and Instagram.

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Date: 4/29/2022
United Power filed a non-conditional Notice of Intent to Withdraw from our power supplier in compliance with a recent Federal Energy Regulatory Commission ruling. This changes our previously announced Tri-State exit date of Jan. 1, 2024 to May 1, 2024.

United Power hosted a hybrid Annual Meeting on April 13, allowing members to gather in person for the first time since 2019. The cooperative was pleased to return to an in-person format this year. Nearly 450 members and guests attended the meeting either in person or online. The meeting included a video recap highlighting the cooperative’s accomplishments over the last year, an annual financial report, and the certification of the director election.

Voting in the director election was conducted via mail-in and electronic balloting. The cooperative introduced electronic balloting this year to provide members with a fast, secure and convenient way to submit ballots and avoid delays in mail handling. More than 6,000 member ballots were cast in the election. East District incumbent, Elizabeth “Beth” Martin, retained her seat, receiving 2,728 votes. Steven “Steve” Douglas received 2,536 votes and Naptali A. Lucks received 700 votes in the race for the East District. Ursula J. Morgan, West District, and Keith Alquist, South District, ran unopposed and will retain their seats with 5,341 and 5,337 votes, respectively.

Ursula J. Morgan, Board Chairman and Mark A. Gabriel, President and CEO, summarized the cooperative’s performance in 2021 with a video presentation. The cooperative surpassed 100,000 meter connections, improved operational efficiencies, and implemented several innovative projects all in the last year.

The addition of more than 4,600 new meters pushed United Power beyond 100,000 meters early last summer. It became just the 31st electric cooperative nationwide to surpass this mark and only the second in Colorado. While more meters were being added, the operations team conducted targeted maintenance, which reduced outage times to nearly half the national average.

United Power also expanded its electric vehicle charging network, installed a diesel generator in Gilpin County, and deployed its first hybrid bucket truck. The cooperative’s second charging station at the Market Street Mart in Keenesburg filled a gap in available charging infrastructure along Interstate 76. The generator project provided an outage solution and emergency backup to members located at the ends of the co-op’s lines where it can be difficult to restore power quickly due to isolation and mountain terrain. 

Most significantly, United Power announced its intentions to pursue a change in its wholesale power supplier effective January 2024. Wholesale power costs account for approximately 75% of member rates and attempts to negotiate the cooperative’s existing contract have failed. Based on the broader economic landscape, leadership believes it is in the best interest of members to find an alternate supplier moving forward.

“This was not a decision that was reached without exhaustive research and deliberation,” said Morgan. “We considered the impact on rates and reliability, as well as the flexibility of our power supply. The Board believes this is the right direction for our cooperative.”

The cost of power under the current contract is nearly 20-25% higher than market levels. The availability of self-generation and storage options combined with existing contract limitations no longer meet the needs of United Power members.

“Our goal is to provide both lower-cost power and more options for our members,” Gabriel said. “We are confident we can craft a new future for our members, and we are excited to bring the opportunities to you.”

United Power anticipates far-reaching change and innovation to come to the electric utility industry in the years ahead. One of the cooperative’s biggest accomplishments last year was developing Our Cooperative Roadmap, a long-term action plan to maintain United Power’s strength and competitiveness in the evolving industry.

“What does the future look like for United Power?” Gabriel asked. “We need to continue to provide a robust network so that every member behind every meter has every possible option and opportunity to engage in the way they desire. Bottom line: we need to do this while ensuring high quality, high reliability, and reasonably priced power.”

Keith Alquist, United Power’s Board Treasurer, presented the cooperative’s financials and reported the cooperative is in good fiscal shape. The finance team at United Power continues to receive compliments from auditors for their professionalism, completeness and accuracy in preparing financial statements at year-end and on a monthly basis.

Videos and information presented at the 2022 Annual Meeting, including the cooperative’s 2021 Annual Report, are available here.