Wheatland Electric Cooperative

The 2023 Annual Meeting celebrated the 75th anniversary of the Cooperative, which was founded in 1948. Key discussions focused on the performance in 2022, including legal efforts that resulted in securing approximately $9.4 million from a lawsuit against Garden City for service territory violations, which was designated for paying down long-term debt, resulting in an estimated $17.8 million savings in interest expense. Facility improvements were detailed, encompassing enhanced security measures (hard core doors, bullet-resistant glass) and ergonomic upgrades at office locations, alongside the installation of payment kiosks and electronic speaker ports. The commitment to community was highlighted by breaking records in the 'Cram the Van' food drive in 2022, collecting 54,599 pounds of food, and announcing a $50,000 commitment to power the pantry in the fall of 2023. Furthermore, the return of a record $2.25 million in capital credits to members was noted, with another $1 million budgeted for retirement in December 2023. Discussions also covered substation security against cyber and terrorism threats and the promotion of electric vehicle adoption.

The annual meeting summary focused heavily on the challenges faced in 2021, particularly the severe winter weather event in February, which caused historically low temperatures, stressing generation capacity and the transmission grid, leading to rolling short-term electricity interruptions directed by the Southwest Power Pool (SPP). The financial impact of the event on Wheatland was over $17.5 million due to record high natural gas costs, leading the Board of Trustees to approve spreading these costs over a 12-month period via a Power Cost Adjustment (PCA). The discussion highlighted the critical role of the coal-fired Holcomb station in mitigating costs. The summary also reviewed the cooperative's efforts during the 2020 COVID-19 pandemic, including suspending disconnections, increasing broadband speeds, opening Wi-Fi hotspots, offering flexible payment plans, and executing community support initiatives like the 'Power On' campaign, which involved donating supplies to first responders and food banks, and supporting local businesses. Furthermore, the Board retired $1,000,000 in capital credits early during 2020 due to the pandemic's economic impact. Operational achievements included significant decreases in wholesale power costs and system improvements in the Great Bend region, such as replacing overhead lines with underground cable and installing new LED street lights. The cooperative also emphasized its commitment to wildlife protection to improve system reliability.

This document outlines Wheatland Electric Cooperative's core principles and commitments, emphasizing community engagement, member ownership, operational excellence, and resilience. It details efforts to foster community strength through scholarships and economic development, empower members through democratic governance and capital credits, ensure safe and reliable power delivery via infrastructure investment and employee commitment, and build resilience through advanced technologies like AMI and drones, alongside cooperative mutual assistance. The overarching goal is long-term sustainability, affordability, and adaptability for future energy needs.

The 2025 Annual Meeting commenced with an invocation and presentation of colors. Key logistical points covered included instructions for prize slip submission, completion of the American Customer Satisfaction Index survey for a chance to win a gift prize, and a safety tip regarding emergency preparedness. The meeting proceedings included the introduction of officers, trustees, and special guests from partner organizations such as Sunflower Electric Power Corporation. The quorum was established based on in-person and proxy attendance. Formal business included a successful motion to dispense with the reading of the official notice and affidavit of mailing, as well as the acceptance of the 2024 financial report. The financial report overview detailed 2024 income, expenses, margins, plant assets, property tax payments, and capital credit retirements. The meeting also featured video presentations summarizing the 2024 operational story, covering reliability, member services (including the community solar program update), cybersecurity, and physical security.

The financial report for the year ending December 31, 2021, was presented by the Director of Finance. Key discussions covered the unaudited financial position, noting total income of $134 million and total expenses of $115 million, with the primary expense being the cost of power, significantly impacted by the February 2021 winter weather event. Profit for 2021 was $20 million, attributed to the sale of the broadband division and substations, as well as a non-cash allocation from the power supplier. The cooperative approved the retirement of $1 million in capital credits in December 2021. Furthermore, the presentation reviewed the balance sheet, noting $375 million in cooperative plan assets, ongoing distribution system maintenance, and property tax payments totaling $4,320,316 across eighteen counties in 2021.