ANNUAL MEETING
Meeting of the Members
The 84th Annual Meeting of the Members of Southwest Electric Cooperative was held on Saturday, September 16, 2023, at Bolivar High School in Bolivar Missouri. Attendance was recorded at nearly 800 registered members. With additional family members and guests, the total in attendance was estimated at about 1,000 attendees.
In the treasurer's report, Leslie Cantrell, manager of Finance and Accounting, updated members on the financial strength of the cooperative including a highlight of the operating revenues, expenses, margins, and a deferral of the 2022 operating revenue will be used to offset purchased power cost increases in future years - helping maintain rate stability.
In his report to the members, CEO/General Manager, James Ashworth addressed how SWEC is truly a member focused cooperative. Ashworth addressed how safety, rate stability, and service reliability are our top priorities at SWEC. Ashworth informed the membership that the Cooperative will be paying back capital credit funds in mid-December.
Ashworth also looked to the future in his report and noted there are many cost pressures the Cooperative and its power suppliers are facing. He noted the balanced generation strategy implemented by Generation Cooperative, Associated Electric Cooperative, which includes using natural gas, coal, wind, and hydro generation sources is helping keep costs stable while maintaining reliability. He also addressed three key factors neglected in the rush to replace all fossil-fueled generation. Technology, transmission, and time. Ashworth noted that the technology does not exist today to replace all fossil fuel plants with renewable generation and battery storage. The current transmission system has been designed and used for years to manage member energy load, not for a future where energy from intermittent sources like renewables displaces consistent electricity from coal and gas. Therefore, time is needed to thoroughly think through realistic options and to let technology catch up with these initiatives.
During the meeting, cooperative members Daniel Mauss, Barry Edwards, and Nancy Erickson, were elected by the members to serve three-year terms on the Cooperative's Board of Directors.
More than 50 prizes were given to registered members in attendance at the meeting. In addition to these prizes, four drawings were held for boys and girls 12 and under for new bicycles.
The board of directors, management, and employees of Southwest Electric Cooperative would like to thank every member who demonstrated their support by attending this year's meeting and look forward to seeing you again at the 85th Annual Meeting in 2024!