2021 Annual Report: Celebrating 85 Years of Service

CONTENTS
2020 Highlights
Formed 85 years ago, Grand Valley Power was
the first rural electric cooperative in Colorado, and one of
the first west of the Mississippi River. Any business that
has been around that long must inevitably face all kinds
of challenges and obstacles. To survive and thrive, the
people of Grand Valley Power – employees, leaders and
members – have demonstrated a special kind of staying
power. Born of a faithful adherence to core values like
safety, service and community, this staying power enabled
Grand Valley Power to get past the credit crunch
of the seventies, overcome the bankruptcy of a wholesale
power provider, and send poaching investor-owned
utilities back to their own territories. The legacy of our
forebearers provides a blueprint for dealing with threats
like these.
It seems like our staying power has been put to
the test with a decade’s worth of challenges since our
last annual report and member meeting. The coronavirus
peaked last fall. Focusing first on the safety of our
team members, we adapted as necessary and kept right
on delivering Five-Star customer service to our consumers.
Recognizing that our consumers could be in a pinch
financially, we rolled out Grand Valley Power’s Hometown
Relief Fund to assist folks adversely impacted by
the pandemic. It was paramount to continue providing
safe, reliable and affordable energy while keeping our
employees and community healthy.
A Message To Grand valley power members
From Tom Walch and Carolyn Sandeen-Hall
In August of last year, the Pine Gulch Fire – at
the time, the largest wildfire in Colorado history – made
its presence felt. A few consumers had to deal with
weeks-long power outages, as authorities required that
their lines be de-energized. A significant number of GVP
structures were at risk, but thanks to the efforts of the
fire response team, the damage was contained.
In recent months, when an extreme winter storm
event blasted the central United States, Grand Valley
Power and its consumers were hit with the largest
monthly power cost price spike in our 85-year history.
Our investigation, analysis and cost recovery efforts are
underway. Fortunately, our strong financial position allows
us to assist our consumers by spreading the cost
impact over the ensuing 12-month period.
Learn more about the impact of these challenges
– and the programs implemented to address them – in
the pictures, charts and notes on the following pages of
this report.
With an 85-year history, our Grand Valley Power
legacy is meaningful. While the past is important, we
continue to look forward. We want to build on this legacy,
and leave things better for those yet to come. We are
fortunate that those who came before us paved the way
for our success. It is our goal and our duty to do the same
for future generations of Grand Valley Power members.
5
Star
Customer
Service
$1.4
Million
CashBack
Credits Paid
38.2%
Power
Supplied by
Renewable
Resources
0
Lost
Time
Accidents
326
New
Meters
Connected
$146k
Community
Donations
4-5
Safe & Reliable
8-9
Level Up
6-7
The Power of
Community
10-11
Financial Highlights
Tom Walch, Chief Executive Officer
Carolyn- Sandeen-hall, Board president
2 3