Transcription

Eastern IowaLight & PowerCooperativeAnnual Report2021

Mission StatementEastern Iowa REC is committedto providing safe, reliable and affordableofferings to our members to enhancetheir quality of life.

For 86 years, Eastern Iowa REC has been working for and with rural consumersto provide quality electric service and enhance the standard of life within our serviceterritory. Eastern Iowa REC serves a diverse membership that includes traditionalfarm operations, rural housing areas, industrial and commercial developments, andrecreational facilities.The Eastern Iowa REC rural service area covers all or portions of 12 counties,stretching along the Mississippi River, from Sabula in the north to Burlington in thesouth and west to Iowa City. Eastern Iowa REC has service centers in DeWitt, LoneTree and Wapello. The headquarters office complex is located in Wilton.InsidePagePagePagePagePage245710President & CEO ReportWholesale Power ReportPreparing today for the future2021 Year in ReviewFinancial Reports

President and CEO’s Report2It is our privilege to present the 2021 Eastern IowaLight and Power CooperativeAnnual Report to the membership.Looking back on 2021,we witnessed the organization and much of the restof our communities beginto adapt to our new normalroutines. Declining COVID19 positivity rates allowedthe Cooperative to easesome restriction during thefirst quarter of the year.Overall, the Cooperativeenjoyed another successfulyear and has once againfulfilled its obligation ofproviding safe, reliable andaffordable service.Thispositive evaluation is basedon the organization’s financial performance in 2021and as measured againstour self-imposed goals.The Cooperative continues to meet all of its financial responsibilities and ispositioned to maintain thispositive financial stance aswe move forward.During 2021, the ongoingtrend of flat growth in membership that we have seenfor several years continued.This, combined with lowerenergy sales, led to adecrease in operating revenues.For 2021, operating revenues were 58.2 million.This represents a decreaseof 1.35%. Kilowatt salesincreased from 570,077,292kWhsin2020to578,763,822 kWhs in 2021.Operating expenses were 54.2 million in 2021.Operating margins afterfixed costs for 2021 were 1,254,280. Combined withnon-operating margins, interest income and capitalcredits of 2,190,432, thenet margins for 2021 were 3,444,712.We also returned 2.4million in patronage capitalto members as authorizedby the board of directors.This brings our totalpatronage capital returnedEastern Iowa Light & Power CooperativeThomas C. HotzPresidentKirk W. TredeCEOto the membership to morethan 55.5 million andserves as evidence that theCooperative truly is beingoperated with the memberneeds in mind.At Eastern Iowa REC, weare committed to providingsafe, reliable, affordableand sustainable power toyou. We want to thank thestaff and directors for theircommitment to serving ourmembers with excellenceduring the pandemic. Andthank you to our membersfor your patience and graceas we adapted to these circumstances.The Cooperative adopteda number of procedureswhen the COVID-19 pandemic first swept acrossthe service territory. Theplan’s goal was to protectthe health and safety of themembershipandouremployees, while ensuringthe continuity of electricservice to all those servedby Eastern Iowa REC. Webelieve these efforts accomplished this goal.In March, 2021, allCooperativeemployeesreturned to on-site work.Employees continued towear masks in commonareas and follow social distancing practices. Duringthe peak of the pandemic,all Cooperative service center lobbies were closed tothe public. They werereopened for a period oftime, but are now open byappointment only.Increased use of theSmartHub portal allowsCooperative members to

to the membershippay bills and monitor theiraccount. Member servicerepresentatives and specialists are available bytelephone or email, or byappointment to assistmembers.Payment kiosks wereinstalled in the vestibules ofeach service center early in2022 to offer another billpayment option. Cooperative members can pay theirenergy bills at the kiosks bycheck, cash, debit card,VISA, Mastercard or Discover.Money orders are not accepted at the kiosks. Bill payments made using the kiosksare immediately processed.We feel the plan we put inplace helped the organization avoid serious disruptions in service to the membership. While we did haveemployees test positive forCOVID-19, we avoided amajor outbreak within theorganization and were ableto maintain our operationsas much as normal underthe circumstances.The Cooperative pridesitself on being able to riseto meet whatever challenges might be presented tothe organization. Thismeans being able to adaptour processes and procedures to ensure theCooperative can continueto provide the high level ofelectric service EasternIowa REC members havecome to expect.Cybersecurity is anotherissue closely tracked by theCooperative. Cybersecurityevents dominate newsheadlines with growing fre-quency. The energy sectoris one of the most targetedby cyber criminals, whichdemands a unified approach to readiness, vigilance and response.As cybersecurity threatsand threat actors evolve,Eastern Iowa REC regularly updates and strengthensits cybersecurity efforts.We understand that thereis no single solution thatcan eliminate risk completely. That is why we alsodevelop plans to respondand recover quickly if anincident were to occur.The Cooperative worksclosely with our power provider, Central Iowa PowerCooperative, the IowaAssociation of ElectricCooperativesandtheNational Rural ElectricCooperative Association toensure the organization isprepared for this threat.At Eastern Iowa REC, weoften say that those whoreceive electricity from theCooperative are also ownersof the Cooperative, but whatexactly does that mean? Ifyou own your home or car,you have the keys and canaccess your property anytime you want to. As a partowner of Eastern Iowa REC,you don’t exactly get a set ofkeys to the office, but you doreceive some great benefits.One of the most important benefits of being acooperative owner is thatyou have a voice in how thecooperativeoperates.Members democraticallyelect the Cooperative’s localboard of directors, whomust also be members.These directors serve yourlocal interests in governingthe Cooperative. Participating in the district meetings each summer allowsCooperative members toexercise this vital role.At Eastern Iowa REC, wedo more than just provideelectricity. We do morethan light up the night. Wepower lives and empowerthe communities we serveevery day. Having access tosafe, reliable, affordableandenvironmentallyresponsible power providesa stable foundation for yourquality of life, and we takethat responsibility veryseriously.Throughout the Cooperative’s 86-year history, theorganization’s commitmentto our community hasmade us stronger and moreaware of the needs of ourmembers.When the Cooperativepioneers first brought electricity to rural eastern Iowa,it was a luxury for the ruralresidents. Now electricity isa necessity and a vital partof our lives.Eastern Iowa REC willcontinue to keep in focuswhat truly matters, and tofocus on our commonobjective. We are focusedon powering the lives of ourmembers and empoweringthe communities we serve.Thomas C. HotzPresidentKirk W. TredeCEO2021 Annual Report3

Wholesale Power Report4By: Gary W. Kester(Kester represents Eastern IowaREC on the Central Iowa PowerCooperative (CIPCO) Board of Directors. CIPCO is the electric power supplier for Eastern Iowa RECand 13 other member-owned electric cooperatives and associationsin Iowa.)After a tumultuous time period during the pandemic, 2021was a year of normalizing operations, creating new ways towork, and propelling ambitiousprojects to completion. CIPCOreaffirmed its commitment tomoving forward with operationsand strategies that ensure safe,reliable, and cost-effective power for our 13 member-owners.In 2021 we witnessed multiple new generation sources come online to support thepower needs of CIPCO’s member systems, like Eastern IowaREC. The 85 million SummitLake expansion, the largestproject in CIPCO’s 75-year history, realized a successful “firstfire” of the new natural gas-reciprocating engines. As CIPCOcontinued testing electricalsystems, tuned emissions control equipment and completedthe final performance test, fullcommercial operation of thenew engines was achieved onApril 15. The repowered 110MW peaking facility has performed well.Adding to CIPCO’s generation mix through Power Purchase Agreements (PPA) werethecommercialoperationachievements of both WapelloSolar, LLC, a 100 MWAC solar facility owned by Clēnera,and Independence Wind, a 54MW facility in Delaware County owned by BHE Renewables.Both projects enhance CIPCO’sgeneration mix as a source oflow-cost power, providing needed energy and capacity acrossthe system. This diversity ingeneration is critical to CIPCO’sability to effectively serve Eastern Iowa REC.On the heels of Wapello So-lar’s launch in April, CIPCO andClēnera announced plans for anew 100 MWAC PPA, CoggonSolar, in northern Linn County.The announcement drew resistance from local residents whomade a public push to retain thesolar site’s 640 acres of land foragricultural use. Diligent workbetween CIPCO and Clēneramoved the project forward.Eastern Iowa REC and CIPCOstrive to provide safe, affordable,and reliable power to our members across the system. Eachyear, CIPCO completes a numberof line and substation projects toensure safe and reliable electricdelivery across the system, including nearly 44 miles of transmission line work in 2021.Weather continues to testruralelectriccooperativesacross the state, and 2021 wasno exception. In February, alarge portion of the countryexperienced a major snow andice event, followed by recordcold temps that debilitated utilities across the country. Energy demand and associatedprices quickly moved upwardas a number of generation assets were rendered unusablein parts of the country not accustomed to such cold weather.While CIPCO and its memberslargely escaped power outages,the financial impacts were feltthroughout the year. Towardthe end of the year, Iowa expe-Eastern Iowa Light & Power CooperativeGary W. Kesterrienced the first-ever recordedderecho in the month of December that brought tornadoeswith it as well. While systemdamage did not equal that ofthe August 2020 derecho, theone-day event caused significant dame to 69 kV and 161 kVlines and structures.CIPCO’s commitment to reliability led to a system-wideoutage rate of 0.29 hours perconsumer without the December derecho and 1.31 with thederecho included. For 2021,Eastern Iowa REC’s was 0.21hours per customer withoutthe December derecho, and0.27, with the weather event.Despite rising energy costsin 2021, both Standard & Poor’sand Fitch Ratings maintainedCIPCO’s ‘A’ ratings which confirm CIPCO’s financial strength.Returning patronage capital isa fundamental component ofthe cooperative business model. CIPCO remains dedicated tosound financial practices that allow margins to be returned to itsmembers in the form of patronage. In 2021, CIPCO returnedpatronage totaling 2,149,137to Eastern Iowa REC.CIPCO celebrated its 75thyear in 2021, and I want to thankyou for the privilege to serve onboth the Eastern Iowa REC andCIPCO board of directors. Theactions we take are designed tostrengthen the systems and ensure CIPCO is well-positioned toserve member-owners now andinto the future.

Preparing today for the futureEastern Iowa REC cameinto existence in 1935. Formore than eight decades ithas served Cooperative members, providing a reliable, affordable, safe and environmentally responsible sourceof electric energy. It has alsoprovided quality jobs for themany men and women whohave worked at the Cooperative over the years.The Cooperative’s workforce has ebbed and flowedover the years. In the late1970s, the Cooperative experienced a period of intensivehiring. Those employees haveeither retired or are nearingretirement age. This is a phenomenon that is affecting theworkforce across the country.According to the U.S. Bureauof Labor Statistics, workersover the age of 55 representa huge and essential segmentof the American economy. By2030, one in four U.S. workers will be 55 or older.The National Rural Electric Cooperative Association(NRECA) estimates approximately 6,400 electric cooperative employees leave thecooperative network annually due to retirement (about2,400) or regular attrition(about 4,000). This meansthat every year, approximately 8% of the cooperative workforce leaves withknowledge that is valuableto their cooperative and is atrisk of being lost.And the NRECA anticipates this trend to continue.Looking ahead to the nextfive years, collectively, ournation’s electric cooperatives will welcome more thanTo address the loss of journeyperson lineworkers to retirement amongthe Cooperative hires young lineworkers so that they can begin theirapprentice programs before the veteran lineworkers retire.25,000 new cooperative employees. Fifty percent of theentire U.S. workforce will beready to retire in the nextfive to ten years, accordingto the U.S. Department ofLabor. That includes 25% ofthe utility workforce in thenext five years, says the U.S.Department of Energy.Just in 2021, the Cooperative saw five employees retire. That group had a combined 225 years of servicewith the organization. In thenext five years, the organization could have as many as16 additional retirements.Eastern Iowa REC’s management team recognizedthis trend several years agoand has been working to address the need to replace thevoid in skill and knowledgethe departure of veteranworkers could have on theorganization.The Cooperative has developed succession plans andhas been provided trainingthrough the Iowa Association of Electric Cooperativesand the NRECA which allows employees to prepare tomove into management andsupervisory positions. Thisprovides a path for a seamless transition at the management/supervisory level.The Cooperative is alsocommitted to supporting thenext generation of Cooperative members and potentialemployees. 2021 was the35th year of the Cooperative’s scholarship program.2021 Annual Report5

Cooperative careers continually promotedIn that time, the Cooperativehas rewarded some of thearea’s finest young adultsfrom more than 50 differentcommunities with a totalof 355,500 in scholarshipfunds. Each year the Cooperative offers 21 1,000scholarships. Included inthis scholarship programare five 1,000 scholarshipsreserved for students whoplan to pursue a trade-related degree at a communitycollege, technical school orpowerline school.TheCooperativealsofunds scholarships for thepowerline programs at Northwest Iowa Community Collegein Sheldon, IA and Marshalltown Community College.To provide a more handson learning experience, theCooperative offers both jobshadows and intern programs.The intern program is designed to give people interested in electric utility careersexposure to real-world experience at a distribution cooperative. It is possible thisprogram will be expanded toCurt Leuer, Eastern Iowa RECDeWitt area supervisor (left),helped Magnus Sands, a senior atCalamus-Wheatland High School,with his job shadowing of the linecrew at the DeWitt service centerearly in 2021.6other career options withinthe organization.In 2021, Cooperativepersonnel also participated in career day events andelectrical safety programsto help share informationwith area students. The Cooperative borrowed a liveline display from T.I.P. Rural Electric Cooperative andconducted live line demonstrations at the Cedar County Fairgrounds and the highschools in Wilton and Durant. The demonstrationsshowed what happens whena tree limb contacts a powerline. Students also got an upclose look at gear and equipment used by Cooperativelineworkers.The aging workforce canbe a window through whichthe Cooperative can exam-ine ways to foster positivechange for the future of theorganization. The exit of alarge group of skilled workerscan represent the most significant opportunity a utility will ever have to confrontand fundamentally alter howit carries out its business.The Cooperative has already started with ideas likethe intern program, but theuse of technology is also partof the answer to this issue.The Cooperative is always exploring new ways to use thelatest technology to continueto provide the high level of service Eastern Iowa REC members have come to expect.Technology is permeating every aspect of Cooperative operations, allowing your electricCooperative to constantly improve your service.Jake Nietfeldt, apprentice lineworker, demonstrates what happenswhen a dry tree limb makes contact with a power line during a live linesafety demonstration at Wilton High School Oct. 12, 2021.Eastern Iowa Light & Power Cooperative

2021 Year In ReviewThings change—that’s aconstant part of life. It’s also aconstant part of the operationat Eastern Iowa REC.The Cooperative has beenchanging and evolving sinceits inception in 1935. Fromclearing the first hurdle ofsimply organizing the Cooperative’s pioneer members toget the organization up andrunning; through the waryears in the late 1930s andearly 1940s, when growthand expansion was nearlyimpossible due to materialsupply shortages.Change came again inthe 1950s and 1960s whenthe organization experienced tremendous growth.This period of growth ended during the farm crisis inthe 1980s.In recent years, the Co-A new bill unveiled in 2021 included a new color design as well asnew information. On the back ofthe bill, you will find informationabout meter readings, previouscharges and payment history,current charges and the accountbalance, as well as a 13-monthenergy usage history graph showing on-peak and off-peak usage.The project to construct a new Eastern Iowa REC service center inWapello began with a groundbreaking ceremony on May 26, 2020. Thefacility opened early in 2021 just south of the former service centerlocation off of Highway 61.operative and the entireutility industry has facedconstant change as technology has altered the wayelectricity is generated, delivered and used in homes,farmsandbusinessesserved by Eastern IowaREC.Through it all, EasternIowa REC has adapted andrisen to meet each challenge that has come witheach change throughoutthe years.In 2021, the Cooperative experienced ongoingchanges. The first camewith the opening of the newservice center in Wapello.The old facility had beenin use since the late 1940sand no longer met theneeds of the organization.The new facility includesimproved garage space forCooperative trucks andequipment, more space toconsolidate the storage ofpoles and equipment and amore up-to-date office area.A new bill design wasalso unveiled early in 2021.The most obvious changeis that the bills are nowprinted in color, but thenew design also includesmore information as well.The new bills show energyusage data, including average daily usage. Included on the back of the bill isa 13-month energy usagehistory graph showing onpeak and off-peak usage.Eastern Iowa REC andmost of the eastern Iowaarea was spared in February,2021 from controlled power interruptions seen acrossmuch of the middle U.S. inthe Southwest Power Pool(SPP) and throughout Texas.A snow and ice stormFebruary 15, 2021 hampered transmission of power across the southernplains, only to be followedby days of well-below normal temperatures that sentenergy demand skyrocketing. Meanwhile, generation of all kinds across thatregion was crippled by thecold, having been built fora climate that typically experiences its energy peakson hot summer days.Eastern Iowa REC’spower supplier, CentralIowa Power Cooperative(CIPCO), is a part of the2021 Annual Report7

2021 Year In ReviewMidcontinent IndependentSystem Operator (MISO)energy market. Througha relationship with AlliantEnergy, CIPCO has access to the MISO market tobuy and sell generation asneeded. While energy costsrose during this period, ourpower supplier was able tosecure enough energy toavoid rolling blackouts.Changes also came tothe Cooperative board ofdirectors in 2021. Robert“Skip” Crew, who served asa director from District 5,resigned from the board inthe spring of 2021 ending22 years of service to theorganization.He was replaced by RonStover, Mediapolis, who waselected at the district meeting August 9, 2021.Sadly, the Cooperativemourned the loss of JimRoling who died May 28,2021. Roling representedDistrict 1 on the board ofdirectors from 1999-2019.A change was made tothe Cooperative membernewsletter, Current News, in2021. A new item, includedas a sidebar to the CEO Column on page 3, was added.The “From the Boardroom”addition to the column pro-8Edith Taylor posed with the Westinghouse stereo she won at the 1968Eastern Iowa REC annual meeting. She’s holding a copy of the CurrentNews from 1968 showing her with her new stereo.vides highlights from theprevious month’s meetingof the Cooperative Board ofDirectors. This is anothereffort by the organizationto continously increase theinformation shared with themembership.The 2021 annual meeting,held September 9, 2021, returned to an in-person eventafter being a virtual, onlineevent in 2020. More than1,200 meals were served atthe Mississippi Valley Fairgrounds in Davenport andthe guests enjoyed a beautiful, sunny day.Some things, however,don’t change over the passage of time. The Cooperative has awarded a host ofdoor prizes at the annualmeeting for many years.In 1968, the major prize atthe evening drawing was aWestinghouse stereo.At that time, multipleprize drawings were heldduring the annual meeting.During the daytime portionof the meeting, only Cooperative members were eligiblefor the drawing. During theevening, the event was opento the public and anyoneholding a ticket was eligible.The Westinghouse stereo was won by Edith Taylor, the mother of retiredCooperative forestry coordinator Gene Taylor. Thatstereo is still being used atMrs. Taylor’s grand-daughter’s home. According to aCooperative members enjoyed the beautiful day while waiting for the back issue of the Cooperfood lines to open at the 2021 annual meeting Sept. 9 in Davenport.ative’s newsletter, CurrentEastern Iowa Light & Power Cooperative

2021 Year In ReviewNews, the 1968 annualmeeting crowd was estimated at 15,000 attendees.Anotherthingthathasn’t changed is the Cooperative’s commitment tosupporting the young people within our service area.Since 1987, the Cooperative as awarded collegescholarships to groupsof high school seniors. In2021, Eastern Iowa RECdistributed 1,000 scholarships to 21 students.The Cooperative also hasan intern program designedto give people interested inelectric utility careers exposure to real-world experienceat a distribution cooperative.The Cooperative also participates in programs sharingelectrical safety informationwith students and career dayevents promoting the variety Eastern Iowa REC was part of a farm safety program put on by theState University Extension and Outreach at the Cedar Countyof careers available at East- IowaFairgrounds in Tipton Sept. 24, 2021.ern Iowa REC.Photo by Lisa Beatty, safety and training coordinatorCooperative mournsloss of former directorAustin Anderson, journeypersonlineworker, demonstrates how touse a hot stick to replace a linefuse during the “Celebrate theTrades Day” job fair at DurantHigh School Oct. 5, 2021.Jim Roling, 71, formerly of Preston, IA,passed away May 28,2021, at Bickford ofUrbandale in Urbandale,IA.RolingrepresentedDistrict 1 on the EasternIowa REC Board ofDirectors from 1999-2019.The Eastern Iowa RECboard and employeesshared their condolenceswith the Roling family onthe passing of their husband, father, grandfatherand brother.Jim Roling2021 Annual Report9

Financial ReportsComparative Balance SheetASSETSUtility Plant:Total Electric PlantConstruction Work In ProgressTotalLess Accumulated Depreciation and Amort.Net Utility Plant20212020 182,294,22123,211,148205,505,369(71,390,266) 134,115,103 177,117,26718,416,428195,533,695(67,502,965) 128,030,730Investments:Investments in Associated OrganizationsNonutility Property, NetOther InvestmentsTotal Investments 32,011,258260,859573,530 32,845,647 32,169,145260,859251,968 32,681,972Current Assets:Cash and Cash EquivalentsAccounts ReceivableInventoriesOther Current and Accrued AssetsTotal Current Assets 7,164,1046,083,3102,699,486124,673 16,071,573 7,010,4776,383,2142,236,514251,793 15,881,998 4,882,368 7,142,587 187,914,691 183,737,287 185,78041,271,12553,074,174 94,531,079 184,80040,055,08751,438,768 91,678,655 81,171,011 79,205,332 3,967,525175,3634,108,9251,834,675 10,086,488 3,691,980701,4514,256,8721,949,434 10,599,737 2,126,113 2,253,563 187,914,691 183,737,287Other Assets:Deferred DebitsTOTAL ASSETSEQUITIES AND LIABILITIESEquities:Membership FeesPatronage CapitalOther EquitiesTotal Members’ EquityLong-Term DebtCurrent Liabilities:Current Maturities of Long-Term DebtNotes PayableAccounts PayableOther Accrued LiabilitiesTotal Current LiabilitiesDeferred CreditsTOTAL EQUITIES & LIABILITIESEastern Iowa Light & Power Cooperative StatisticswwwwwwMiles of lineNumber of metersNumber of membersMeters per mile of lineKilowatt hours soldAnnual Meeting10 Eastern Iowa Light & Power 4805.255.17578,763,822570,077,292Thursday, September 8, 2022

Financial ReportsComparative Statement of OperationsOPERATING REVENUESElectric Revenue:ResidentialSmall CommercialLarge CommercialPublic Streets and BuildingsResaleTotal Electric 11,335,697 57,956,909 37,136,3226,138,24013,822,576318,2321,375,302 58,790,672Other Operating Revenue:TOTAL OPERATING REVENUE 246,474 197,379 58,203,383 58,988,051OPERATING EXPENSESCost of PowerDistribution Expense--OperationsDistribution Expense--MaintenanceConsumer Account ExpenseCustomer Service and Information ExpensesSales ExpenseAdministrative and General ExpenseDepreciation ExpenseOther Deductions 731,2295,731,29015,263 627,8045,851,17613,759TOTAL OPERATING EXPENSES 54,199,647 136,810 5,446,423 4,827,583Operating Margins before Fixed ChargesInterest on Long-Term DebtOpeating Margins after Fixed CostsGeneration and Transmission and Other Capital CreditsNet Operating MarginsNon-Operating MarginsInterest IncomeEquity in Earnings in Associated CompaniesOther Non-Operating MarginsTotal Non-Operating MarginsNET MARGINSBCDAEFGA.B.C.D.E.F.G.Your Energy Dollar 2021Cost of PowerDepreciation & AmortizationConsumer ExpenseOperations & MaintenanceAdministrative & GeneralMarginsInterest/Other62 10 02 13 06 02 05 2021 Annual Report 11

Board of Directors and StaffThe Eastern Iowa REC Board of Directors include, seated from left: Nancy Varner, Treasurer Kurt Olson,Vice President Kathy Wunderlich, President Tom Hotz, Secretary Ken Purdy, Assistant Secretary Dan Heater, and Glenn McCulloh. Standing, from left: Gary Kester, Joel Carstensen, Ron Stover, Bill Petersen, MikeBixler, Michael Moes, Mike Shuger, and Allan Duffe.The executive staff for EasternIowa REC in 2021 included, seated from left: Al Kroeger, divisionmanager of operations; DonRoth, division manager of member relations; Michelle Walker,division manager of administrative services; and Tim Iossi,manager of operations technology. Standing, from left, are:Dave Mohr, manager of businessdevelopment; David Zorich, division manager of accounting;Lance Kephart, manager of information technology; and DennisHill, division manager of engineering.12 Eastern Iowa Light & Power Cooperative

Eastern Iowa RECCorporate Goals & Objectives1.To provide an adequate, dependable supply of electrical energy.2.To price electricity at the lowest practical cost consistent withprudent financial management principles.3.To foster moderate, sustained growth in energy sales and promoteeconomic development within our general service area.4.To maintain a flexible, fluid organization responsive to the needsof the Cooperative members.5.To perform our duties and responsibilities in a safe and efficientmanner through the development of programs, policies andprocedures which ensure that our members, employees andthe general public are properly protected.6.To supplement the efforts of our local communities and berecognized as a good corporate citizen.HEADQUARTERS1705 W. 3rd St.Wilton, Iowa 52778(563) 732-2211SERVICE CENTERS500 South Fifth St.DeWitt, Iowa 52742(563) 659-3146309 West Commercial St.Lone Tree, Iowa 52755(319) 629-4221101 Surrey DriveWapello, Iowa 52653(319) 523-2411ClintonDeWittIowa CityLone TreeWiltonDavenportWapelloBurlington

Eastern Iowa Light & Power CooperativePHONETOLL FREEFAXE-MAILWEBSITE(563) 732-2211(800) 728-1242(563) nted on Recycled Paper.

commercial operation of the new engines was achieved on April 15. The repowered 110 MW peaking facility has per-formed well. Adding to CIPCO's gener-ation mix through Power Pur-chase Agreements (PPA) were the commercial operation achievements of both Wapello Solar, LLC, a 100 MWAC so-lar facility owned by Clēnera, and Independence Wind, a 54