Executive Report

Throughout our 85-year history, CAEC has seen its fair share of new and innovative ideas. From newer and safer methods of providing electricity to the introduction of high-speed fiber internet through our broadband subsidiary, Central Access, we’ve experienced many changes. But with every change that’s come our way, our core commitment remains steadfast.

CAEC is guided by seven cooperative principles, Voluntary and Open Membership; Democratic Member Control; Members’ Economic Participation; Autonomy and Independence; Education, Training and Information; Cooperation Among Cooperatives and Concern for Community. Everything we do is centered on these principles, which enable us to provide you, our member-owners, with reliable, affordable service, regardless of what’s happening around us. Even as new technology and innovations are deployed, we remain committed to our foundation of delivering electric service to you.

CAEC is no stranger to new challenges and situations that require a ‘think outside the box’ approach, and 2022 was generous with opportunities to demonstrate our ability to adapt, change and grow. As the expansion of Central Access continued, more members became fiber broadband customers. With these additions as well as new employees and Board Trustees, we are now fortunate enough to serve and employ at least five generations of people. This not only gives us the opportunity to instill the cooperative’s values across multiple generations, but it also ensures our capacity to serve through the experiences of three generations on the Board of Trustees.

During 2022, we faced the need to adapt to the recent environmental changes impacting our industry. With nationwide calls for more sustainable and green energy alternatives, electric utilities felt that weight firsthand. Regardless of the options before us, reliability will always be top priority, and that focus on reliability was never more prevalent than when we faced what the National Weather Service deemed a once-in-a-generation storm on Christmas Eve 2022. For 13 states, record-breaking low temperatures led to rolling blackouts that overtook many holiday celebrations for thousands of families. Thankfully, our system was not affected by any limited power supply.

We would be remiss if we didn’t take this opportunity to say that these blackouts occurred not only because of the extreme temperatures, but also due to the lack of available reliable generation. Previous closures of numerous baseload generation plants throughout the country with no simultaneous construction of replacement generation contributed to the insufficient supply of electricity during the historic snowstorm and prolonged frigid weather. While events like this may occur again, when faced with seasonal storms, our commitment is to first maintain reliability, but if outages do occur, our goal is to restore normalcy as quickly and safely as possible.

Although changes are inevitable, our daily dedication to CAEC’s membership will never waver, and while the past 85 years have been memorable, we eagerly anticipate what’s to come. Regardless of what the future may bring, we will always be there for you, our members.

Tom Stackhouse President/CEO Van Smith Chairman, Board of Trustees