Remarks from Vice President of Finance, Sam Whelan
Affordability is an essential part of our mission at Holy Cross Energy, and we’re proud to deliver on that promise year after year to the members of our cooperative.
Currently, 99% of our residential members pay just $0.11 per kilowatt-hour of electricity, a rate that’s 33% lower than the national average of $0.165. That puts us firmly in the lower third of all Colorado electric utilities when it comes to cost. Additionally, our fixed Customer Charge remains the lowest among all Colorado electric cooperatives.
We know the cost of your electricity matters, especially when all other expenses in our lives have increased so drastically. Thanks to careful financial management by our dedicated staff and a member-focused business model, we’ve not only been able to keep our costs low, but we’ve also been able to responsibly invest back into the other core pillars of our mission statement: safety, reliability, and sustainability.
In the past, we relied on fossil fuels (coal and natural gas) and passed those market prices directly on to you, whatever they were at the time. Today, our new wind and solar power supplies are tied to long-term, low-cost, fixed price contracts without exposure to global energy markets. These power supplies won’t increase in price, and as a result, an already good deal will become a better deal for our members with each passing year.
We are humbled and grateful for the opportunities we have to invest in resources that not only keep costs low but also help us be good stewards of the places we call home. The ability to manage our costs and make wise investments would not exist without the foresight and dedication of prior staff, Board members, business partners, and community members who helped pave the way for us.
By strengthening our grid to increase reliability and safety, and investing in fixed-cost, long-term clean energy projects, we’re committed to doing everything we can to help our members keep more money in their pockets—today, and in the years to come.