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 $105 million since 1963 with nearly $37 million distributed since May of 2005.
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.
HCE has long term power supply commitments through contracts with Public Service Company of Colorado (a subsidiary of Xcel Energy) and Western Area Power Administration. Additional wholesale resources include economy purchases from Black Hills Power and several small renewable energy generation facilities within HCE’s service territory. HCE is an 8% owner of Comanche Unit 3, a 750 MW super-critical, coal-fired generating unit located in Pueblo, CO which became operational in July of 2010. The portfolio of resources used to serve HCE’s customer load in 2010 was composed of 63% coal, 20% natural gas, 11% renewable sources such as wind and hydroelectric generation, and 6% market purchases which could not be identified with a high level of certainty. HCE has additional carbon offsets through its Renewable Energy Credits equivalent to 3.9% of retail sales for 2010, primarily purchased through Public Service Company of Colorado from various renewable generators and net-metered distributed renewable generators within HCE’s service territory.
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 more than 330 net metered accounts. Holy Cross was among utility pioneers in offering consumers the option of purchasing renewable energy to offset their carbon footprint. Nearly 2,500 of Holy Cross's consumers are participating in Wind Power and Local Renewable Pool programs purchasing over 1,586,000 kilowatt hours of renewable energy per month. Holy Cross has provided thousands of complimentary Residential Energy Audits since the 1980's.
In 2004, Holy Cross established its WE CARE (With Efficiency, Conservation And Renewable Energy) program providing consumers:
• A per watt rebate incentive for consumer installed renewable energy generation facilities. To date, more than $3.0 million in payments have been distributed for the installation of more than 2,105 kilowatts of generation capacity.
• Energy efficiency and conservation grants to Commercial/Industrial consumers.
• Complimentary residential and limited scope commercial energy audits. Complimentary electric water heater blankets and up to four Compact Fluorescent Light (CFL) bulbs are offered to members for residential audits.
• 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 LivingWise 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 (CORE) in the Roaring Fork River Valley and the Eagle Valley Alliance for Sustainability (EVAS) 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.