The 85th Annual Meeting for Central Wisconsin Electric Cooperative (CWEC) was held April 13 at the Rosholt High School. There were 243 members and guests in attendance, which was an increase over the previous year.
Members in attendance voted in favor of a bylaw amendment that will simplify the voting procedures for uncontested board of director elections. Prior to the change, ballots needed to be mailed to members for all board of director elections, even if the elections were uncontested. The bylaw change now allows members to elect directors in uncontested elections by a unanimous consent or voice vote at the annual meeting. This will save the co-op money as it will eliminate the costs to print and mail ballots.
Kevin Kurtzweil, interim co-CEO and vice president of Operations, provided a recap of the outages in 2022, which were up from the previous year. The majority of the outages were the result of two storms, one in June and one in December.
Members were also informed about supply chain issues that the co-op has had to deal with, along with the cost of materials increasing 62-96%. Because the lead time for delivers has increased to 18 months, the co-op has to keep a larger inventory than normal, because supplies need to be on hand when storms arrive and cause damage. The co-op is currently ordering supplies for 2024.
“Storms can deplete inventories quickly, and that only makes things more challenging when forecasting the co-op’s future needs,” Kurtzweil said.
Kurtzweil also spoke about the co-op’s vegetation management program, and how it improves service, reliability, and safety. In the past year, CWEC has spent more than $490,000 on right-of-way clearing, and more than $9 million since 2004.
Lila Shower, interim co-CEO and vice president of Accounting and Finance, reviewed key statistics for 2022, the statement of operations, and the balance sheet for the co-op. She said energy sales for the co-op were up compared to the previous three years. After expenses and other adjustments, the net margin for the co-op was nearly $1.3 million. She also noted that the co-op retired more than $491,900 in capital credits in 2022.
Members were also informed about how CWEC’s investment in the West Riverside Power Plant has been beneficial for members. Shower said more than $1 million in direct credits has been passed on to its members as a result of that investment.
“Members have realized a return of $2.81 million since 2019 and things are on track for eclipsing the co-op’s investment in five years and should continue to add value for many years beyond that,” Shower said.
Shower also explained the reasons for CWEC’s recent rate adjustment, with the main reasons being inflationary cost pressures and increased power costs. She also told members that CWEC hasn’t had a rate increase since 2016.
During the Chairman’s Report, Board Chairman Tom Smith updated members on the delay of the new meter system that was planned for 2023. He also spoke about the many ways the co-op was involved in local communities. One of these programs was the STEAM grant program that the co-op introduced in 2022. Three area school districts received $1,000 each through the STEAM grant program.
“These are just a few things the cooperative does as a reflection of its commitment to and concern for the communities we serve,” Smith said.
Directors Sue Rombalski, Michael Schultz, and Smith were each unopposed in their reelection bids and were reelected.
A total of 27 door prizes were given away to members during the Annual Meeting.
Members also donated 305 non-perishable food items to be donated to area food pantries.
After the Annual Meeting, the CWEC Board of Directors met to elect the officers for the board. Tom Smith was reelected as Chairman, while Lou Oppor was elected as Vice Chair, and Allen Zander was elected as Secretary-Treasurer.