CEO Column: Reliable power for today — and tomorrow
December 1, 2023
Ringing in a new year sparks a sense of renewed hope and optimism about the future. As the CEO/General Manager of Trico, for me, it’s a time to reflect on where we are and where we’re going. At the heart of this reflection, I think about ways we can better serve you, the Members of the cooperative.
Our team at Trico is always looking ahead, exploring ways to innovate and utilize new technologies to improve our services. As our nation increasingly relies on electricity to power the economy, keeping the lights on has never been more important. We’re dedicated to making a diﬀerence in the communities we serve by providing our Members cost-eﬀective and sustainable energy solutions.
I want to share some statistics with you that describe where we are and where we are going. These facts show Trico is in a strong position to support the needs of our Members and the communities we serve, and ready for the challenges of the coming years. In the coming months, I will continue to share information about Trico’s future and how we are performing. I hope this will confirm for you that serving our Members’ best interest is our top priority.
One critical component of reliable power is the mix of energy resources used to generate electricity. Trico purchases power from a diverse mix of providers and some of the energy we provide is generated on Trico’s own system. Trico is increasing the amount of renewable energy used to serve its Members with the goal of reducing emissions by 50% by 2032. At the same time, we are also adding new high-efficiency natural gas units, in partnership with Arizona Electric Power Cooperative, to help support the needs of the system. Our current energy resource mix is made up of 33 percent renewables, 31 percent coal/steam, 30 percent natural gas and six percent hydropower.
We devote a lot of attention to keeping costs down to support our Members. Trico is in the top 20% of U.S. electric cooperatives in terms of greatest number of Members served per employee. Our employees are a high-achieving, diverse group and they display the cooperative spirit every day. We get a lot done while controlling costs!
When we talk about sustainable energy, that also means reliability. Over the last five years from 2018-2022, our Members have experienced over 90 minutes less outage time per year, than the median cooperative in the U.S. We know you rely on us to keep the lights on, and we take that responsibility seriously. Every department at Trico contributes to this reliability, and we aim to be even better.
Another measure of success is the amount of Membership Equity we return to our Members. Trico has returned Membership Equity for 14 years in a row, and this year Trico is giving back $5.4 million to its Members. That is $5.4 million that will stay in our local communities and help our Members.
As we turn our focus to 2024, Trico will continue working to provide the reliable, aﬀordable electricity you expect and deserve—for today and tomorrow. On behalf of Trico’s employees and Board of Directors, I wish all of you a healthy, peaceful and prosperous holiday season. We look forward to serving you in 2024.