Co-op Governance
The ins and outs of how the co-op works
Quick Fact – OPALCO election process
OPALCO’s Board of Director election is a cornerstone of Co-op Democracy. OPALCO depends on an independent member Elections & Governance Committee to cultivate quality candidates and review election processes and policy. OPALCO works with a third party election vendor to ensure a secure and fair election. OPALCO’s bylaws prescribe the complete elections process, including nominations, qualifications, public notification and timelines. ...
Quick Fact – OPALCO Debt and Capital Projects
OPALCO’s debt is healthy and well managed. Debt is how co-ops finance growth and capital projects. In 2019, OPALCO came to the end of a period of intensive capital projects that pushed the debt ratio up higher. This is the pattern over the decades:1) build equity for capital projects, 2) borrowing and construction, 3) pay loans off over 30 years, ...
Quick Fact – OPALCO Rates
OPALCO keeps rates as low as possible by controlling expenses and pricing electricity at the cost of service. Households who struggle to pay their bills are served by several energy assistance programs (including special assistance for those members affected by COVID-19) designed to keep power affordable for all members. Despite the higher cost to supply power to 20 rural, remote ...