In the dynamic landscape of electric cooperatives, the pursuit of growth is not merely a goal; it’s a commitment to community welfare and shared prosperity. At the heart of our organizational vision lies a strategic roadmap aimed at fostering economic development and partnership opportunities while continuing safe, reliable and affordable service to our 34,000 members across the Eastern Upper Peninsula.
Looking back over 2023, I am proud of the continued growth of our electric cooperative. Cloverland continues to focus on our financial health as it supports the much-needed improvements to our system. Our success comes from our continued vigilance on maximizing our generation resources to minimize our power supply costs. This is done by assuring that all our generation resources are on at the time of our electric peak with Wisconsin. Under the guidance of our Chief Operating Officer, Pat Frazier, our new energy management team has done so for the past twelve months. This achievement ultimately provides benefit to our members since dollars saved stay local and promote growth within the cooperative.
2024 Vision and Beyond
Cloverland is unique as it is a distribution cooperative that also generates renewable energy through our hydro plant and our focus is resolute: reliability is key based on systematic reduction of outages and bolstering the sustainability of our distribution and generation assets. Financial stability with an emphasis on acquiring and managing economic power supply to protect us from uncertainty positions our co-op as a catalyst for regional economic development. Technological innovation enhances our service to members, employees and partners and enables Cloverland to stay at the forefront of the industry and able to adapt to evolving needs with innovative solutions.
More specifically, in 2024 and beyond, we are focused on three primary goals:
- Clean energy bill: With the November 28 passage of Michigan’s clean energy bill, we are actively planning how we can meet the requirement of having 100% clean energy sources by 2040. Currently, our hydro plant produces nearly 30% clean energy, and the U.S. Corps of Engineers hydro plant at the Soo Locks adds approximately 20% more clean energy to our fuel mix. While Cloverland is in a better position than many utilities, assuring that power is available to members in reliable manner and at affordable rates will require careful planning, creativity, and collaboration amongst regional utilities
- Power supply analysis: While the Wisconsin Electric contract end date of 2029 seems far out, we’re currently evaluating power supply options for our future. These options must take into account the state’s newly implemented requirements of 50% renewable by 2030, 60% renewable by 2035 and 100% clean by 2040. If meeting the energy requirements of our members requires the addition of generation resources, time is of the essence.
- Capital work planning: 2023 concluded our recent work plan so we’ll kick off our next four-year work plan in 2024. As Covid brought on a host of supply chain related issues, longer range planning is required. Our team is expanding focus for our next capital work plan taking into account these supply related issues while closely monitoring new regulatory requirements and their impact on our cooperative.
Amidst these goals, we never forget that safety is of the utmost importance by implementing programs and practices to keep our team, members and EUP communities safe. We’re not just building a cooperative – we’re cultivating a legacy of sustainable growth and shared prosperity.