Reliable electricity is not something that’s just nice to have, it has become a necessity in today’s world. At Cuivre River Electric Cooperative (CREC), we understand how important reliability is to our members and are working hard to deliver electricity to you as reliably as possible.
As threats of rolling blackouts continue to spread throughout the country, CREC continues to work with its generation and transmission partners to stay ahead of demand. Two new power plants are now under construction to provide needed capacity to our members. The first plant is scheduled to come online at the end of 2026 and the second plant a few months later. Once online, these plants will provide over 850 megawatts of additional capacity to CREC members.
We’re actively working through an aggressive $60 million plan to ensure CREC’s distribution system keeps up with demand. Aging infrastructure is being replaced, and other areas are being upgraded.
While reliability is paramount, it does come with a cost. The two new power plants along with additional transmission lines cost approximately $2 billion. This cost is passed on to distribution cooperatives like CREC in the form of power cost increases. As power costs account for nearly 70% of CREC’s total expenses, these increases have made it necessary for CREC to also raise rates. We are working hard to keep these rate increases as low as possible, but CREC rates will continue to increase as a result of these plants being built.
The good news is that even with the current rate increase environment, CREC will continue to have some of the lowest rates in the region. CREC rates are lower than regional investor-owned utilities, municipal utilities, and the average of Missouri electric cooperatives.
CREC continues to grow at a rapid pace, recently surpassing 75,000 meters. Already the largest electric cooperative in the state, CREC is now amongst the top 60 largest in the nation. We are proud to continue to add to our membership.
CREC members continue to receive capital credit retirements in the millions of dollars. In 2024, $6.7 million was returned to CREC members. This brings the total returned to members over the past six years to over $42 million.
CREC’s Operation Round Up program also hit a major milestone during the past year. Total grants given to qualifying individuals and charities surpassed $8 million since the inception of the program in 1997. Through Operation Round Up, members continue to make a meaningful difference in our communities.
As we look to the future of CREC and the electric industry at large, there will be challenges in several areas, but we are confident that your cooperative will meet these head on and continue fulfilling its mission statement: “Cuivre River Electric Cooperative will be a progressive leader in the energy industry, empowering employees to serve our members using innovative energy solutions, while safely providing reliable service at the lowest possible cost.” On behalf of the Board of Directors and CREC employees, we thank you for your continued support and membership with CREC. It is truly our pleasure to serve you.
Diane Saale, Board Chairman
Doug Tracy, President/CEO