An engaging annual meeting by Eric Eriksen

Our 2026 SLVREC Annual Meeting was a good reminder that cooperatives are different. Your member-owned not-for-profit rural electric cooperative, SLVREC, is focused on people, over profit. Rooted in 89 years of history guided by seven cooperative principles:
1. Voluntary and Open Membership
2. Democratic Member Control
3. Members’ Economic Participation
4. Autonomy and Independence
5. Education, Training and Information
6. Cooperation Among Cooperatives
7. Concern for Community

This year’s Annual Meeting looked a little different, and that was by design. Many of you told us you wanted a format that was easier to participate in. The Telephone Town Hall accomplished exactly that. More members were able to listen in, ask questions and hear updates directly from the SLVREC team. In fact, we had four times more registration than at previous annual meetings in the recent past. Thank you to everyone who joined to listen in and those who submitted questions. Your engagement is what keeps this cooperative strong.

What we covered this year
During the meeting, we walked through the major areas that define our service to you: safety, reliability and affordable service through responsible long-term planning.

On the electric side, we reviewed our recent national safety award and many system improvements funded partially by $1.3 million in grant awards and long-term planning. From pole replacements to wildfire mitigation and system automation, these investments aren’t flashy, but they’re the backbone of reliability. Every mile of line we harden and every piece of aging equipment we replace reduce outage risk for years to come.

We also talked about the continued growth of Ciello and our national recognition as one of the top 5 Internet providers in America. Expanding to more neighborhoods and offering more services, we’re seeing strong adoption across the Valley. Reliable Internet is no longer a luxury; it’s essential for work, school, healthcare and staying connected. Our team remains focused on building a network that has served the Valley.

Financially, the cooperative remains strong. Like every utility, we’re navigating rising costs — materials, equipment, labor and power supply — but we’re doing so carefully and transparently. Our goal is always the same: deliver reliable service at the lowest possible cost while planning responsibly for the future.

Member questions
One of the most valuable parts of the Annual Meeting is hearing directly from you. This year, member questions centered around a few key themes:

Capital Credits — The Board reviews and approves capital credit retirements for our member-owners every year. For 2026, the Board approved a retirement of $562,713. Part of the retirement was distributed in January, and the remaining amount will be distributed in June. The retired amount paid some of the oldest capital credits from 1994. Over the past 10 years, SLVREC has returned more than $4.47 million to our member-owners.  If you’d like to look at your individual account, we’re always happy to walk through it with you.

Wildfire Mitigation— SLVREC has a wildfire mitigation plan, including Public Safety Power Shutoffs (PSPS), which can be found on our website HERE. We will only use a PSPS if there is imminent danger to life or if public authorities request it — and that remains an unlikely event.

Rates & Cost Drivers— Energy costs will continue to rise over the next 4-5 years as power producers transition toward renewables to comply with the state of Colorado’s Clean Energy Policy mandates and federal requirements, but we work hard every day to find savings and protect affordability.

Electric Vehicles — EV Charger rebates are available today on our website HERE. If you already have an EV charger or are considering getting one, then you may also want to consider one of our Time‑of‑Day rates, which give EV owners the best savings when charging off‑peak. The SLVREC Board recently approved a new EV fast‑charging tariff that goes live after June 26, with rates at the Colorado state average and below many neighboring utilities. 

Data Centers — SLVREC is required by law to serve any legal customer in our territory, including any data center that chooses to build a facility here, but we’re not in the data‑center business. We’ve had no inquiries from large hyperscale data centers — only four small inquiries — three of which were local. Our studies of these small inquiries verify that they use no water, are environmentally friendly and can lower costs for all members. That makes sense. Regarding large hyperscale data centers, it’s not likely we’d ever be asked to serve these because the Valley doesn’t have the resources— that doesn’t make sense. To address member-concerns, SLVREC has never in its 89 years— and will never— allow any new project of any kind that harms reliability or pushes the cost of that project onto other members. You can find more information about Data Centers on our website under the FAQ section HERE.

Renewables — SLVREC is a co-applicant on a 96-MW solar-plus-battery storage project near Cortez, CO, that could be online by 2030 and save members up to $500,000 per year.  This would account for 40 percent of our energy.  A state-funded microgrid study is wrapping up this month and shows promise for an additional local savings opportunity. By 2030, the energy serving you will be over 80 percent renewable.

Ciello Internet — Ciello continues expanding into new areas and continuously assesses new service offerings. Ciello is faster and has more bandwidth today than satellite providers and always will due to the physics of fiber versus satellite.  Recognized as one of the top 5 Internet providers in America, you have the best Internet available right here in the Valley with Ciello.

These questions weren’t just helpful — they were thoughtful. They showed that our members are paying attention, care about the future and want to understand the “why” behind our decisions. That’s exactly the kind of engagement that makes this cooperative healthy.

What’s ahead
As we move into the next year, our focus remains steady: safety, reliability and affordable service. And of course, we’re looking forward to seeing you at the Member Appreciation Lunch on July 9. It will be one of your new favorite days of the year— a chance to share a meal, visit with neighbors and celebrate the cooperative spirit that makes the San Luis Valley special.

Thank you for your trust, your questions and your continued engagement. We’re honored to serve you, and we’re committed to doing it with transparency, reliability and the cooperative values that have guided us for more than 89 years. The future is bright.