Introduction to Holy Cross Energy
Holy Cross Energy, founded in 1939, is member-owned, not-for-profit electric cooperative utility providing electricity, energy products and services to more than 55,000 consumers primarily in the Western Colorado counties of Eagle, Pitkin, and Garfield.
Each consumer receiving electric service from Holy Cross is a member-owner eligible to vote at meetings of members, to become a Director, to receive member equity allocations and/or distributions and to share in the proceeds should Holy Cross be dissolved.
As a not for profit electric utility, annual revenues that exceed operating expenses are credited to each Member's equity account based upon their annual energy purchases (sometimes referred to as "patronage"). Each Member receives an annual statement showing their current and past year(s) Member Equity allocation and equity account balance. Members may receive cash distributions from their equity account up to two times per year depending upon length of membership. Cash distributions are made at the discretion of the Board of Directors based upon the Bylaws and financial condition of Holy Cross. Members have received cash distributions of over $93 million since 1963 with nearly $50 million distributed since June of 2000.
Holy Cross is governed by a duly elected Board of Directors consisting of seven active Holy Cross members from specific geographical districts serving staggered three year terms. Director candidates submit nominating petitions signed by at least 15 active members residing within the geographical District in which the candidate resides and wishes to represent. Should a contest for a Director District exist, a candidate or candidates are elected through a general election held for the purpose of electing Directors. Holy Cross is not subject to the economic (ratemaking) jurisdiction of the Colorado Public Utilities Commission because its Members have elected to exempt Holy Cross from such jurisdiction. Holy Cross remains subject to the Commission's complaint and territorial jurisdiction and is also subject to any Federal, State or local authority with appropriate jurisdiction.
Holy Cross has long term power supply commitments through contracts with Public Service Company of Colorado (a subsidiary of Xcel Energy), Western Area Power Administration and as a partner-owner in power generation facilities. Holy Cross’s current power supply mix consists of 63% coal and 25% natural gas based generation with the remaining 12% generated by renewable resources such as new hydro, photo voltaic, wind and geothermal. Holy Cross has also acquired additional carbon offsets by purchasing Renewable Energy Credits from a geothermal generation facility equal to 5% of Holy Cross's annual power purchases. Although Colorado Law requires electric cooperatives to obtain 10% of their power supply from renewable resources by the year 2020, Holy Cross has established a goal of obtaining at least 20% of its power supply from renewable resources by 2015.
Holy Cross believes in being a conscientious steward of our natural resources. It has several long standing programs which were often ahead of popular demand, addressing efficiency, conservation and renewable resources. Holy Cross was one of the first utilities in Colorado to offer Net Metering to its consumers and currently has 145 net metered accounts. Holy Cross was among utility pioneers in offering consumers the option of purchasing renewable energy to offset their carbon footprint. Over 2,500 of Holy Cross's consumers are participating in Wind Power and Local Renewable Pool programs purchasing over 1,830,000 kilowatt hours of renewable energy per year. Holy Cross has provided thousands of free Residential Energy Audits since the 1980's.
In 2004, Holy Cross established its WE CARE (With Efficiency, Conservation And Renewable Energy) program providing consumers:
• $2 per watt for consumer installed renewable energy generation facilities. To date, $1.1 million in payments have been made for the installation of 550 kilowatts of generation capacity.
• Energy efficiency and conservation grants to Commercial/Industrial consumers.
• Free residential energy audits with free electric water neater blankets and up to four Compact Fluorescent Light (CFL) bulbs.
• Energy efficient appliance rebates including refrigerators, dishwashers, clothes washers, CFLs and programmable thermostats.
• Rebates for the proper disposal of old, inefficient refrigerators.
Other Holy Cross programs that support efficiency, conservation and wise use of natural resources:
1) Annual funding of the Living Wise educational program helping provide over 1,000 local elementary school students and their teachers with devices and information concentrating on residential energy and water resource efficiency.
2) Assisted in the formation of and continued support for the Community Office for Resource Efficiency in the Roaring Fork River Valley and the Eagle Valley Alliance for Sustainability in the Eagle River Valley.
3) Expending more than $1 million over the past several years redesigning, building and retrofitting its overhead power lines in order to protect raptors from accidental electrical contact.
4) Created transportation incentives for its employees to reduce the number of vehicle trips to and from work.
5) Continuing our long standing practice of sophisticated system design and use of high efficiency transformers to maximize system reliability, energy efficiency and economy.
Holy Cross is committed to providing its consumers with the best possible service at reasonable cost consistent with sound business and environmental practice.