As we reflected on 2024 at the annual meeting in April, I am pleased to report it was another good year for Southeast Colorado Power Association (SECPA). We continued our moderate growth pattern and ended the year with an increase of 49 consumers over 2023 for a total of 10,914 consumers by the end of 2024. The Board of Directors approved the retirement of more than $560,000 in capital credits to co-op members last year; those checks were mailed in December.
For the first time since 2015, SECPA had a modest rate increase that went into effect on August 1. This rate increase was necessary because of the continued increases in costs incurred by SECPA, as well as a rate increase we incurred from our power supplier Tri-State Generation and Transmission. We do not anticipate any rate increases in 2025.
SECOM also saw growth throughout 2024 and finished the year with positive margins that also contributed to the bottom line of SECPA. We expanded our fiber network as we added the town of Avondale to the growing list of communities we serve with fiber to the home. We began work on the grants that were awarded in late 2023 and, in fact, we were invited to expand the scope of one of the awarded projects, and we received a grant that was not initially awarded in 2023. Thanks to those grants, we were able to begin projects in Otero, Bent, Pueblo, Crowley, and Las Animas counties.
These projects will more than double the assets of SECOM and allow us to serve thousands of new customers in rural Southeast Colorado with state-of-the-art fiber internet connectivity. Even with all the expansion of our fiber network, we still rely on wireless connectivity for many of our customers, and 2024 also saw the start of a wireless upgrade project that will allow greatly increased speeds for our wireless customers. Whether it’s fiber or wireless, SECOM is committed to providing the best internet experience possible to customers.
I can’t thank the employees of SECPA and SECOM enough for their hard work and dedication to our members and customers. Every day, our employees go above and beyond the call of duty to serve the members of SECPA and the customers of SECOM.
Kevin Brandon is the General Manager of Southeast Colorado Power Association. SECPA Electric’s mission is to provide high-quality, reliable electric service at are reasonable cost to our members, improve their quality of life through new technologies and services, be a visible and active member of the community and serve our members with respect, courtesy and responsiveness.
