Plans are in full swing for the 2025 Annual Meeting of the Pella Cooperative Electric Association. The directors and employees of the cooperative are committed to providing a vital service that enhances the quality of life of our members. The Annual Meeting offers a chance to meet the individuals who work on your behalf, and we invite you to join us. This year’s meeting will take place on Tuesday, April 8, at Pella Christian High School.
The cooperative ended 2024 on solid financial footing. Net margins for the year totaled $1,046,777, meeting all of our financial obligations outlined in our loan covenants. We continue to see growth, adding 42 new accounts and selling a record 61.6 million kilowatt-hours of energy in 2024. This growth reflects the ongoing demand for reliable electricity in our area and highlights our ability to meet that demand while maintaining financial strength. A core principle of our cooperative is members’ economic participation, meaning members contribute equitably to, and have democratic control over the cooperative’s capital. One responsibility of your Board of Directors is to determine when it is appropriate to return capital to the members. We are pleased to report that during 2024, the board of directors returned $171,000 in capital credits to our members.
Reliability continues to be a top priority for the cooperative. In 2024, our reliability factor was 99.986%, and the average member experienced only 76 minutes of outage time for the entire year. This marks an improvement from the 160 minutes of outage time in the prior year. When outages do occur, our linemen work quickly to restore power, but safety always remains their top priority. Whether performing routine maintenance or investing in system upgrades, our line crew is dedicated to ensuring we maintain a high standard of service reliability.
Providing reliable service goes beyond maintaining poles, wires, and equipment; it also involves utilizing a balanced and diverse energy portfolio. Our power supplier, Central Iowa Power Cooperative (CIPCO), ensures energy reliability through a balanced mix of resources, including wind, coal, solar, natural gas, and other sources. CIPCO’s energy portfolio consists of about 42% wind, 26% coal, 8% solar, 2% natural gas, and 22% from other sources. This approach enables us to meet the energy needs of our members around the clock, regardless of weather conditions or time of day. With capacity constraints becoming a growing issue across the country, relying on an “all of the above” energy strategy is more crucial than ever to ensure we continue providing reliable and affordable energy. By investing in a variety of energy sources, we enhance system reliability, keep energy costs manageable, and support environmental responsibility.
Pella Cooperative Electric Association thrives with the support of dedicated and informed leadership. The Board of Directors is democratically elected to represent your interests, provide strategic direction, and remain true to our cooperative principles. One of the most important ways you can contribute is by participating in the election of your board of directors. This year, members will vote for District 3 and one At-Large position. Your ballot will arrive by mail soon, and we ask that you return it by March 31. Please note that there will be no in-person voting at the Annual Meeting.
We would also like to thank Bob Van Soelen, who is retiring from the At-Large position after twelve years of dedicated service. Throughout his time on the Board of Directors, Bob has been a dedicated advocate for our members, offering valuable insights and leadership that have shaped the cooperative’s success. We deeply appreciate the time and effort he has devoted to ensuring the strength and growth of our cooperative.
We look forward to seeing you at the 2025 Annual Meeting on Tuesday, April 8. We’ll begin with a meal at 5:30, followed by the business meeting at 7:00. As always, we’ll be giving away some great prizes at the conclusion of the meeting. We hope you will join us for this important event!