2020 Annual ReportWEB

Empowering Lives with Hometown Service
RIS
E

Empowering Lives with
Hometown Service
We are committed to the safety of our
workforce and the general public.
We strive to do the right thing, holding
true to our values and principles.
We seek to find new and better ways to
serve our members and communities.
We are dedicated to delivering value to all
we serve.
RISE ABOVE
Everyone knows that resilience is a critical attribute of the electric grid.
But what does resilience mean? Experts charged with the design and
operation of the electric grid describe resilience as the ability to reduce
the magnitude and impact of disruptive events. They say that a resilient
system must have the ability to anticipate, absorb, adapt to, and rapidly
recover from a potentially disruptive event. Tracing the word back to its
root, resilio, denotes an ability to leap or spring back. In everyday words,
resilience means being able to rise up when troubles knock you down.
Grand Valley Power’s distribution system has proven its resilience over the
past 84 years. With their response to the disruptive coronavirus pandemic
over the past few months, our cooperative team members have proven
their resilience as well. The pictures, charts and notes on the following
pages of this report tell the story. Grand Valley Power’s strong performance
in the recent past provided a solid base that prepared us to take on
COVID-19 disruptions. Here are some examples that show how we have
reduced the magnitude and impact of these disruptions:
Tom Walch, Chief Executive Officer
Carolyn Sandeen-Hall, GVP Board President
• Innovation helped anticipate and address physical distancing barriers,
as our newly installed enhanced metering system allows Grand Valley
Power to read meters and facilitate connects and disconnects with minimal personal contact.
• Our solid financial performance (margins exceeding budget projections, distribution equity near 35%,
affordable and stable rates) allows us to absorb the brunt of financial uncertainty associated with
COVID-19.
• Our tradition of Five-Star Customer Service requires our team members to be receptive and adaptable
to consumers wants and needs. We were ready when we had to adapt to new ways to serve consumers,
working remotely instead of coming in to the office. This transition was so smooth, most consumers were
not aware of any change.
• Grand Valley Power’s leadership in the community, including our innovative Hometown Relief Fund, is
helping our consumers recover from pandemic disruptions.
Of course, we’re also showing resiliency with our approach to Grand Valley Power’s annual member meeting.
Physical distancing requirements will not allow our traditional gathering, so for the first time in our cooperative’s
history, the meeting will take place virtually, airing online at gvp.org/RISE on Thursday, August 6 at 6:30
p.m. See the notice on page 11 of this report for details on how to register and participate. We hope to see you
(virtually) at the annual meeting!
2019 Board of Directors
Back Row (from left to right): Bob Saunders, Bill Rooks, Jesse Mease, Carolyn Sandeen-Hall, Rod Martinez
Front Row (from left to right): Sylvia Spangler, Janie VanWinkle, Don McClaskey, Dennis Haberkorn
2 3

Community Impact
Zero-Incident
Safety Culture
Cassidy Lastine
Fruita Monument High School
Katelyn Johnson
Fruita Monument
High School
Izzy Mease
Fruita Monument
High School
Fundraising
Projects in
Mesa County
2020 Grand Valley Power Scholarship Recipients
Part of a cooperative’s DNA is investing in its own communities. It’s
important to us to invest in education, community organizations and
economic development, because every employee at Grand Valley Power
lives, works and thrives here too. Our unclaimed member credits
enable us to expand our scholarship program and support other educational
and nonprofit organizations. What once was one scholarship,
now has expanded since 1996 to nine. Over the past 25 years, we’ve
given $215,000 in scholarships towards continuing education. Congratulations
to the Class of 2020!
Joshua Meyers
Plateau Valley
High School
Hannah Piland
Plateau Valley
High School
Chloe Nordstrom
Mesa Valley
Community School
Kaylie Fuller
De Beque
High School
Delaney Bruner
Mesa Valley
Community School
Anna Weiland
Fruita Monument
High School
Learn more about our empowered scholarship winners!
Sponsored
Events
Community
Donations
Our “why” for ensuring safety is personal. Each employee
is family at the co-op, and everyone goes home
at the end of the day because we continue to keep safety
as our number one foundational principal. We are
working on a streak of 520 days and counting without
a lost-time accident!
4 *2019 results are preliminary
5
Reliability
In addition to safety, we know how important a reliable
source of power is to our members. Providing power
when you need it, is our mission. Projects in 2019 were
focused on upgrades that meet this mission, including:
• Improving load balancing between two substations
to better withstand future growth and provide increased
redundancy.
• Upgrading mechanical and electrical equipment
that improves resiliency against weather and reduces
outage duration.
• Increasing vegetation management across our
service areas to further increase safety and prevent
outages.
We kept the lights on, as evidenced by another strong
showing in our reliability results. Our System Average
Interruption Duration Index (SAIDI) reading of 74.70
minutes was less than half the median number reported
by cooperatives in Colorado, and across the nation.
Our consumers have plenty of things to worry about
with the pandemic; a reliable source of electric energy
is not one of them.
With over 1,676 miles of service line and continued
growth in members and electric demand, constant
inspection, maintenance and improvement projects are
critical to maintaining high levels of performance.
Replaced
Inspected
poles
miles of line
miles of tree trimming
and vegetation management
Minutes per Consumer (Median)
250.0
200.0
150.0
100.0
50.0
0.0
OUTAGE DURATION
AVERAGE MINUTES PER CONSUMER
56.8
93.4
74.6 78.9 74.7
2015 2016 2017 2018 2019
Minutes GVP Minutes COLO Minutes U.S. A.

Rising To The Top
Shining Bright
2020 Edgar F. Chesnutt Award:
Best Total Communication Program
Regarded as the “highest honor bestowed through
the Spotlight on Excellence Awards program,” the
Edgar F. Chesnutt Award exemplifies the best in
communications. The award is presented to the coop
whose entry receives the highest score from three
judges from nationally accredited universities and
communication and marketing professionals. With
this coveted award, Grand Valley Power is recognized
for the best total communications program among
more than 950 electric cooperatives across the country.
GVP’s enhanced metering communications hit
all the right notes this year, and our success is also
yours.
A New Day
Pictured from left to right: Tom Walch, Chief Executive Officer; Christmas Wharton,
Communications Manager; Derek Elder, Corporate & Member Services Manager
What sets Grand Valley Power apart? What do we do best? Ask these important questions to any of our team
members, and chances are you’ll get a two-word answer: Hometown Service. We’re more than just your typical
electric utility. We belong to the communities we serve. We’re your neighbors, friends, family and community
leaders. We are driven to serve you. Our resilience during the pandemic demonstrated our commitment. Our
resilience manifests itself in other ways as well. Over the past 18 months, retirement of key staff members
provided a different kind of disruption, as these departing leaders took with them almost 200 years of irreplaceable
institutional knowledge and experience. We’re please to report that new leaders have stepped up to fill the
void; what they lack in experience, they make up with energy and enthusiasm. In so many ways, a new day is
breaking, and our new leaders are showing that they have what it takes to continue the Grand Valley Power way,
rising up to take on all challenges.
In the midst of the Great Depression, struggling farmers in Mesa County’s Lower Valley ushered in
a new day when they formed the electric cooperative we now know as Grand Valley Power. The 400
families the co-op served back then were thrilled to see incandescent light bulbs outshining dim,
smoky kerosene lamps. They welcomed electric stoves and heaters that replaced wood burning alternatives.
Fast forward 84 years, and the nearly 20,000 consumers Grand Valley Power serves expect a little
more from their electric provider. No longer a luxury, electricity touches all aspects of our lives.
While most of us can take for granted the simple act of flipping a light switch and producing immediate
illumination, the engineers and technicians who keep the power flowing never do. No matter
the challenge, they are always ready to rise up and meet it.
Our engineering and operations departments play a critical role in
keeping all of us connected. 2019 was a big year, as they wrapped up
our enhanced metering project. This marks the biggest technology
upgrade since GVP turned on the lights in western Colorado 84 years
ago. Consumers are already reaping the benefits, with increased reliability
and efficiency, improved communications on what is happening
in the field, and reduced outage times. Long term we will use data
from the system to build future member programs and rate choices.
Our award-winning communication’s department made sure that
Grand Valley Power consumers were informed about this upgrade,
and ready to take advantage of the offerings that are now available.
Today, members can view their energy use data online through our
SmartHub app or web portal. Last year more than 1,400 members
joined the ranks of our SmartHub users, tapping the information
available there to make smarter energy choices and save money.
Service Awards
25
Years
15
Years
25
Years
15
Years
20
Years
15 years:
Matt Williams
Manager of Engineering
20
Years
Robbie Barela
Service Planner
Don Burbridge
Serviceman/ Line Patrol
Tonya Archuleta
6 Applications Analyst
7

Powering On
Last year few of us could have foreseen the coronavirus pandemic and the staggering impact it has had on
our everyday lives. Stay-at-home orders, social distancing, and devastating financial consequences for our
consumers presented big obstacles. Even though we had to stay apart, somehow we came together in ways
we never could have anticipated. We powered on – as individuals, as a community and as a nation. Grand
Valley Power team members rose to the occasion. Our offices were closed for two months, but the level of
service we provided never dropped off. The lights stayed on.
At Grand Valley Power, it is part our job to plan for all kinds of disruptive events. The efforts of our Information
Technology team (the “IT” department) provide a great example as to how these efforts paid
off. Our Consumer Service Representatives and other staff members were able to log in to computer and
telephone networks from home. We could get the job done without coming to the office; we were able to
communicate with our membership without missing a beat. Because our IT department had expanded our
ability to accept contactless, no touch payments in 2019 to supplement our automated phone system, consumers
had plenty of options to keep their accounts current from the safe harbor of their homes. The department’s
role in integrating the enhanced metering system’s data into our billing platform enabled current
access to all necessary billing information, without physical intrusion on members’ premises. All over
the country, fraud and cyber attacks spiked during the pandemic, but GVP and its consumers were protected,
thanks to the efforts of our IT team.
Hometown Relief Fund:
Providing Member Assistance During COVID-19
In May 2020, over 21 million Americans were unemployed and faced temporary and permanent layoffs. Countless
others had a decrease in working hours and faced unknown challenges during COVID-19. During the April
board meeting, our board of directors realized the economic downturn our communities were facing and approved
a $100,000 relief fund for member households who have dealt with adverse financial consequences due
to COVID-19. Members who have been impacted were given the opportunity to submit a request form online for
a one-time $100 bill credit. This is just one part of hometown service that we feel sets us apart. Funds are available
on a first-come, first-served basis. Visit gvp.org/HometownRelief for more information.
Food Bank of the Rockies:
Western Slope Virtual Food Drive
Food is an essential need that affects all of us - and
during the coronavirus pandemic, the need was
even greater than usual. In fact, it was a crisis.
Grand Valley Power belongs to the communities we
serve, and we immediately reached out to the Food
Bank of the Rockies. We have similar missions, in
empowering lives and most importantly, our communities.
With a goal to provide 18,500 meals,
which is $4,500, we exceeded this and raised
$5,095. Together, with donations from you and
our community, we provided 20,380 Mesa County
families healthy, nutritious meals when household
incomes were being hit hard.
Stay Local, Shop Local:
Small Business Facebook Giveaways
Small businesses are the lifeblood of the U.S.
economy: they create two-thirds of net new jobs
and drive U.S. innovation and competitiveness,
especially in rural America. We started this giveaway
with the intent to bring awareness to those
businesses and also the many employees affected
from closing their doors during COVID-19. We
also partnered with the Fruita Area Chamber of
Commerce in covering the costs of online purchases
through their Chamber online storefront.
In total, we spotlighted over a dozen local businesses
and donated $850 in gift cards and online
purchase fees.
VIRTUAL
FOOD DRIVE
C O N C E R N F O R C O M M U N I T Y
G R A N D V A L L E Y P O W E R
R E L I E F F U N D
H o m e t o w n
We Can Sew It:
Employee-Driven Personal Protective Equipment
Our employees often step up to the plate and give
time, energy and money - all without a lot of praise
or public recognition. We can 100% say, that our
employees listen to our community needs, which
is where the “We Can Sew It” was born. This
employee-driven idea was to help supply personal
protective equipment, such as gloves and masks, to
our local hospitals and first responders in the time
they needed it most. Over 400 masks were sewn
by GVP employees, friends and family and given
to Community Hospital and Mesa County Public
Health.
GVP employee volunteers (from left to right): Laurie Miles,
8 Jennifer Barela, Tony Ippolito, LeRoy Lowary, Robbie Barela, Karen Allen 9

Financial Statements
BALANCE SHEET
2019 2018
Assets
Total Utility Plant $ 102,736,201 $ 98,839,742
Less: Accumulated Depreciation (27,697,431) (27,323,127)
Net Utility Plant 75,038,770 71,516,615
Investments 1,792,301 1,667,826
Current Assets 7,925,335 7,980,798
Deferred Charges 785,216 922,483
Total Assets $ 85,541,622 $ 82,087,722
Equities and Liabilities
Total Equity $ 30,611,431 $29,678,433
Total Long-Term Debt 45,100,770 43,122,948
Other Current Liabilities 2,270,409 2,223,843
Current Liabilities 7,153,454 7,224,015
Total Equities and Liabilities $85,541,622 $82,087,722
CASHBACK CREDITS
When you signed up to receive electric
service from GVP you became
a member of an electric cooperative.
While investor-owned utilities return
a portion of any profits back to
their shareholders, electric co-ops
operate to provide a service at cost.
So, you get the credit!
In 2019, we paid $1 million in
CashBack credits to members.
UTILITY PLANT GROWTH
$105,000,000
RATES
Since 2012, members have not seen a rate increase. Our co-op gets the most out of its resources. Why?
Because we know every decision we make affects our members. We are dedicated to delivering value to
all we serve.
STATEMENT OF OPERATIONS
2019 2018
Operating Revenue $31,717,928 $32,225,982
Operating Expenses
Cost of Purchased Power 16,926,082 17,699,272
Operating Expenses - Transmission 66,011 61,341
Operating Expenses - Distribution 2,526,129 2,451,340
Maintenance of Distribution Plant 961,490 982,254
Accounting and Collection Expenses 1,122,482 1,264,624
Other Customer Expenses 387,650 372,513
Administrative and General 2,533,221 2,328,959
Depreciation 2,745,106 2,532,205
Taxes 708,261 738,258
Other Deductions 269,912 223,369
Total Operating Expenses 28,246,344 28,654,135
Electric Operating Margin $3,471,584 $3,571,793
Fixed Charges
Interest on long-term debt 1,860,015 1,713,301
Other interest $615 $669
Total fixed charges $1,860,630 $1,713,970
Non-Operating Margin 42,668 64,027
Patronage Capital - Beginning of Year $27,837,650 $26,716,097
Net Margins for Period 1,906,425 2,152,905
Subtotal 29,744,075 28,869,002
Less Retirement of Capital Credits (1,028,560) (1,031,352)
Patronage Capital - End of Year $28,715,515 $27,837,650
Total Asset
$100,000,000
$95,000,000
$90,000,000
$85,000,000
$80,000,000
2016 2017 2018 2019
$89,891,623 $93,315,289 $98,839,742 $102,736,201
CLEAN ENERGY
Although most consumers think
of solar as the primary renewable
resource, wind is actually the predominant
clean resource we utilize.
In 2019, over 33% of your
energy was renewable.
MEMBER SURVEYS
of members surveyed,
rated GVP 5 out of 5
stars for exceptional
customer service.
Year
notice of virtual annual meeting
By order of the Board of Directors of Grand Valley Rural Power Lines, Inc., notice is hereby given that the annual meeting
of the organization’s shareholders will be online at Grand Valley Power’s main office, Grand Junction, County of Mesa,
Colorado on Thursday, August 6, 2020 at 6:30 p.m., for the purpose of electing a Board of Directors as provided by the
bylaws and the transaction of all business which may be properly brought before the annual meeting.
The virtual annual meeting of members will begin at 6:30 p.m. and will premiere online on our website at gvp.org/RISE.
The annual meeting video will also be posted the next day on Grand Valley Power’s YouTube channel.
10 For the detailed audited report, please visit gvp.org/annual-meeting-and-reports.
11
Cost of 700 kWh in Dollars
140.00
120.00
100.00
80.00
60.00
40.00
20.00
0.00
HOLY CROSS EA
$89.65
POUDRE VALLEY REA
$90.27
WHITE RIVER EA
$94.10
UNITED POWER
$96.15
INTERMOUNTAIN REA
$96.86
Y -W ELECTRIC ASSN
$98.88
GRAND VALLEY RPL
$101.97
K C ELECTRIC ASSN
JANUARY 2020 - COST OF 700 KWH
CAMU RESIDENTIAL SURVEY
$102.03
MOUNTAIN PARKS EI
$105.30
$105.42
DELTA-MONTROSE EA
MORGAN COUNTY REA
$106.15
LA PLATA
$109.42
MOUNTAIN VIEW EA
Colorado Cooperatives
$110.30
YAMPA VALLEY EA
$112.09
HIGHLINE EA
$112.76
EMPIRE EA
$113.23
SAN MIGUEL PA
NR = NOT REPORTED
$115.31
GUNNISON COUNTY EA
$119.43
SAN ISABEL
$120.10
SANGRE DE CRISTO
$129.44
SE COLORADO PA
NR
SAN LUIS VALLEY REA
NR
NR= NOT REPORTED
Correction: Due to a formatting error, the previous version of the graph above that was printed and mailed
in July 2020 provided inaccurate information that mislabeled Colorado cooperative rates. This updated
version conforms with the actual January 2020 Colorado Association of Municipal Utilities (CAMU)
Residential Rate Survey results.

Empowering Lives with Hometown Service
PRSRT STD
U.S. POSTAGE
PAID
GRAND JCT., CO
PERMIT NO. 1
REGISTER FOR A CHANCE TO WIN!
GVP.ORG/RISE
AUGUST 6, 2020 | 6:30 P.M.