Close this search box.
Close this search box.
Close this search box.
2023 Annual Report

Preserving Our Past, Forging Our Future

A Note from your Board Chair

Dear members and friends,

As we share our annual state-of-the-cooperative with you, I hope you will join me in celebrating the remarkable achievements from this past year, as well as saluting the talented staff who work hard every day to keep the lights on while they also make these achievements a reality for all of us. As your Board Chair, it is my honor and privilege to present to you our annual report, highlighting the many ways your cooperative has worked for you over the last year.

In late 2023, we added two new resources to HCE’s power supply portfolio, the Bronco Plains II Energy Center and Hunter Solar. These two projects increase our renewable energy supply by more than 20%, getting us closer than ever to our 100×30 goal of providing the HCE membership with 100% clean energy by 2030.

In conjunction with our upcoming local clean energy projects, we anticipate achieving power supply savings of $40 million for our membership with these new system resources. In addition to the gains in our clean energy portfolio, we’ve also formalized our strategy in response to the increasing threat of wildfire in our service territory to keep our system safe.

Our incredible lineworkers and system operations staff go to great lengths to minimize disruptions to our grid, and our system reliability statistics on the following pages are a testament to their hard work and dedication. On behalf of the Holy Cross Energy Board of Directors, we thank you for being engaged in whatever capacity serves you: providing feedback, attending events, voting in our election, or enrolling in one of our many energy programs. Thank you for allowing us to serve you.

Dave Munk, Board Chair


Holy Cross Energy provides safe, reliable, affordable, and sustainable energy and services that improve the quality of life for our members and their communities.


Holy Cross Energy is leading the responsible transition to a clean energy future.

Map of Districts

Western District
8,988 Meters
One Director
Northern District
34,8808 Meters
Four Directors
Southern District
17,068 Meters
Two Directors

Alex DeGolia


Term: 2023-2027

Robert Gardner


Term: 2021-2025

Dave Munk


Term: 2022-2026

Kirsten Bertuglia

Vice Chair

Term: 2021-2025

Adam Quinton


Term: 2022-2026

Linn Brooks


Term: 2023-2027

Keith Klesner


Term: 2024-2028


Operations Work in Marble

True to our roots as a rural electric cooperative, our operations crews spent many hours last summer in some of the most remote areas of our service territory.

A special shout-out to the residents of Marble and the upper Crystal River Valley, who patiently waited through some planned outages so our crews could safely replace several aging poles.

Not only did this work provide added energy resilience for this remote area, but it also allowed third-party broadband providers to share our facilities to bring a new high-speed fiber internet into the community.

Thanks to our crews for their hard work and extended hours on these projects. Luckily, they got to enjoy these breathtaking views!

Our Strategic Plan

Our strategic plan identifies six goals that support our vision and mission for the benefit of our members. 

We are happy to report some significant milestones we achieved in 2023 as a result of these goals. 


Provide clean electricity to our members.

In 2023, we maintained an annual total clean energy portfolio of 50%.

In December 2023, we welcomed Bronco Plains II Wind into our power supply portfolio, providing a meaningful 100-150 MW boost in renewable content going into the new year.

Hunter Solar also reached commercial operations in late 2023, adding 30 MW of clean energy to our power supply mix.

The future of the HCE power supply mix has begun to take shape!


Operate a safe, modern, reliable, resilient, and secure electric distribution system.

In 2023, we formalized our strategy in response to the increasing wildfire risk in our service area and published the results in our Wildfire Mitigation Plan.

Phase II of our “middle mile” network infrastructure project was completed, installing fiber in the Eagle River Valley. Phase III will connect Phase I and Phase II over Cottonwood Pass.

We also hosted the Department of Homeland Security and upgraded the physical security of our facilities.


Promote, enable, and accelerate electrification, energy efficiency, and member distributed energy resources.

We exceeded our 4 MW of added distributed energy resources (DER) capacity goal with 4.236 MW in 2023.

We provided 176 home chargers to members, 305 rebates for e-bikes and e-lawn products, and 136 rebates for residential beneficial electrification projects.

Members participating in Peak Time Payback avoided 12 MW of consumption during peak demand, leading to $109,549 in payments to participants.

Power+ has provided us with 3.045 MW of dischargeable capacity, lowering costs for all members.


Enable long run financial sustainability by obtaining sufficient revenue, containing cost increases, & maintaining a strong balance sheet.

In 2023, the Board of Directors announced a multi-year rate restructuring plan to more closely align our rates with our
cost of service.

After a 60-day public comment period, the Board elected to rescind the proposed rate changes in favor of working with the State and stakeholders to collaborate about the future of net metering in Colorado.


Provide outstanding and equitable service and value to all HCE members and their communities.

Our member satisfaction score was 85/100 and our member loyalty index was 81/100.

Our member services representatives implemented a new call center to handle member requests more quickly.

Over 23,000 members chose to participate in one of our many programs, visit our table at a community event, or attend one of our own events.


Be an exceptional employer of choice in our region.

Our internal Diversity, Equity and Inclusion committee implemented recommendations from our 2022 DEI assessment, hosting a multi-cultural employee potluck and monthly meetings with representatives from various departments.

We also expanded our scholarship program to promote local workforce development opportunities for our area’s graduating high school seniors.

HCE continues to offer workplace flexibility, including telecommuting and remote work opportunities.

Our Financial Health

We have a strong commitment to maintaining the financial integrity and strength of our rural electric cooperative, in a way that balances competitive rates with safe and reliable service.

Our Financial Health

Total kWh Purchased: 1,320,593,614 kWh

System Peak (January): 260,879 kW

Total Peak Time Payback Peak Reduction: 12,056 kW

Power+ Capacity Added: 1,255 kW

Average Residential Energy Use: 1,157 kWh

Peak Time Payback Credits Issued: $109,549

Average Residential Bill: $137

Member Equity

Returned Since 1963: $173.9 Million

Returned in 2023: $4.5 Million

Statement of Operations

Operating Revenue — $
Residential Sales: $84,018,583
Commercial Sales: $60,207,778
Public Lighting: $118,891
Other Electric Revenue: $12,239,274
Total Operating Revenue: $156,584,526

Operating Revenue — $
Power Supply: $78,930,945
Transmission: $3,625,816
Distribution: $17,495,567
Member Service: $6,595,671
Administrative: $16,480,832
Depreciation & Interest: $23,833,945
Total Operating Expenses: $156,584,526

Margins — $
Net Operating Margins: 9,621,749
Oher Margins: 3,625,816
Total Margins: $11,863,539

Your Co-op — 2023 by the Numbers



Members participating in PuRE added an additional 3.4% clean energy to the mix. 




Residential Members



Our percentage of clean energy that originated from local sources.


electric vehicles

In our fleet of trucks, cars, and shuttles


commercial members


Total Miles of Power lines

Overhead & underground


Inbound calls

Handled by our Member Services Representatives


After-hours outages

Responded to by HCE operations crews


High Mesa Solar+Storage

Located in western Garfield County outside of Parachute, this 10 MW solar array and 20 MWh battery storage facility is expected to generate power for up to 2,800 households annually.

Owned and operated by the AES Corporation, construction at the 90-acre project site progressed significantly in 2023, and is scheduled to be completed mid-year 2024.

The battery storage capacity will enable us to store and shift electricity produced by the solar panels during the day for use in the evening hours when the demand for electricity is the highest.

Member Programs — 2023 Participation




Allows members to offset the portion of their electricity coming from fossil fuels with 100% clean energy now.

The average premium our residential PuRE members paid in 2023 was only $5.35/month.

Peak Time Payback



Rewards members for reducing their use during peak hours. We pay you, in bill credits, to use less electricity.

In 2023, 58 Peak Time Payback alerts resulted in $109,549 in payments back to members.




Offers members an easy, affordable path to at-home battery resilience via 0% interest, on-bill repayments.

At the end of 2023, members had a total of 3.045 MW of battery capacity enrolled in Power+.

Charge at Home



Supports members’ transition to electric vehicles through EV charger rebates and on-bill repayments for installation costs.

In 2023, we provided 176 new electric vehicle chargers and charger rebates to members.

Solar Net Metering



Members generating on-site photovoltaic solar energy for their homes and businesses




Incentives awarded to members to invest in energy efficiency, renewable energy, and smart electrification projects.


Bronco Plains II Energy Center

Located in Kit Carson County on Colorado’s eastern plains, Bronco Plains II Energy Center is a 200 MW wind facility estimated to generate power for up to 40,000 households annually. These 72 wind turbines started producing power for us in late 2023.

During the winter months, we will purchase 150 MW of the facility’s output, along with 100 MW in the summer months. The remainder of the power produced will be purchased by Guzman Energy. NextEra Energy Resources built, operates, and owns the project.

“Bronco Plains II Energy Center is a great example of what can be achieved in support of community-driven energy transition,” said Robin Lunt, Chief Commercial Officer of Guzman Energy. “Holy Cross Energy is proving that energy providers can come together to stabilize the cost of power through the deployment of cleaner power sources.”