2024 Annual Report by Central Electric Cooperative

powering financial stability

As a member-owned utility, financial responsibility is one of the most important commitments Central can make to its members. Unlike investor-owned utilities that prioritize profit for shareholders, electric cooperatives are guided by providing safe, reliable and affordable electricity, while operating in the best interest of their members.

Every decision we make, from maintaining power lines to upgrading technology, is evaluated with a long-term perspective. Central doesn’t just look at what’s affordable today but considers what’s sustainable tomorrow.

Central works hard to return value to our members. When the cooperative earns more than it needs to operate, those margins are allocated back to you as capital credits. During 2024, Central returned $431,130 in capital credits to members.

Central also receives capital credits from KAMO Power, our power provider. This year, Central saw a rise in margins largely due to these capital credits. While this boosts our financials on paper, these are not immediate funds we receive. Rather, they represent our share of margins from KAMO and will be returned to Central over time.

It’s worth noting that Central remains committed to providing affordable power to our members. We currently have the secondlowest residential electric rates among all electric cooperatives in the state. That reflects careful planning, efficient operations and a continued focus on keeping costs down while maintaining reliable service.

Your cooperative remains on a solid financial foundation. Through prudent management, strategic investment and commitment to serving our members, we continue to build a financially-resilient future.

Member meetings are a cornerstone of electric cooperatives, reflecting their commitment to democratic control, transparency and community engagement. These meetings are vital opportunities to strengthen the cooperative’s relationship with members, who are also owners.

CONSOLIDATED ASSETS

connections beyond the lines

At Central, making connections goes beyond delivering electricity; it’s about empowering the next generation through youth programs that inspire leadership, learning and electrical safety. Below are Central’s youth programs.

Co-op Kids

More than 400 children and grandchildren of Central members participate in the Co-op Kids program. The free program is designed to introduce children to the world of electric cooperatives and electrical safety.

The third Co-op Kids Day was held in April 2024, where the 107 participants visited with Central linemen; met Willie Wiredhand, the electric cooperative mascot; and learned about electrical safety.

Energy Camp

Central offers two scholarships to attend Energy Camp, a summer camp near Hinton, Okla., hosted by the Oklahoma Association of Electric Cooperatives.

Eighth-grade students compete in an essay competition to attend the three-day camp.

The 2024 winners, Danielle Turner and Krish Gupta, stepped into a set of lineman hooks, climbed a utility pole, rode in a bucket truck and learned how cooperatives operate.

Live Line Demonstrations

Central linemen gave more than 15 live-line safety demonstrations to schools, groups and organizations in 2024. Central’s skilled linemen use real equipment to show just how dangerous electricity can be.

Youth Tour

The 2024 Youth Tour winners, Annelise Ochsner from Stillwater and Hadleigh Stierwalt from Pawnee, won the all-expense paid, weeklong trip to Washington, D.C., where they visited national monuments, historical sights, Smithsonian museums and visited with members of Congress.

Available to high school juniors attending school within Central’s service area, five students were chosen through an essay and interview competition. Two were selected to attend the trip, and the remaining

Scan the qr code to learn more about Central’s youth programs

24,850 Meters 23 substations 4,555 miles of line on by

98 METERS PER MILE OF LINE 5

173 MW EMPLOYEES

What are

Rural breakers saying?

“Been a customer for over a year. Very Reliable (never had an outage or unreliability during a storm), and can handle a lot. We’ve got computers, streaming services, online gaming, phones...doesn’t seem to lag even when we have a good group over.”

-Scott, Facebook Review

883 NEW SUBSCRIBERS

3,300 MILES OF FIBER LINE 462 VOIP USERS

“The service has worked flawlessly since the day it was installed. I now enjoy reliable, high-speed fiber at an incredibly reasonable price! I honestly can’t think of a single negative experience.”

-Cameron, Google Review

90 years of Powering progress

Ninety years ago, life in rural America was dark. While cities and towns across the nation buzzed with electricity and the promise of new technology, only 10 percent of rural homes had access to electricity. The daily tasks of farm work, pumping water, preserving food and heating homes remained backbreaking work. While the gap between rural and urban life was growing, our nation’s leaders knew something had to change.

Recognizing this urgent need, President Franklin D. Roosevelt officially launched the Rural Electrification Administration (REA) in 1935 as part of his New Deal programs. Roosevelt understood that access to electricity was not just about convenience, but about economic opportunity and quality of life.

At the time, most utility companies saw rural America as unprofitable and would not take the venture on. Extending power lines to sparsely populated farms was costly and there was little financial incentive. Roosevelt’s REA changed that by providing low-interest loans that allowed rural communities to take matters into their own hands.

In 1938, two years after the REA was approved by Congress, a group of 10 local farmers banded together to create what is now Central Rural Electric Cooperative. With an $85,000 loan, local farmers and rural residents built 172 miles of line that initially served 141 farms.

Electricity brought immediate and profound changes to rural life. Families could pump water, refrigerate food and light their homes, and farmers could operate more efficient equipment.

That $85,000 investment, which would be $1.9 million today, represented more than just poles and wires. It represented hope, opportunity and a belief in a better future. The farmers and families who founded Central weren’t just installing electricity, they were building a stronger, more connected community.

Thanks to Roosevelt’s leadership and the hard work of local farmers and families, the landscape of the nation changed forever.

Today, electric cooperatives serve more than 42 million Americans and cover more than half the landmass of the United States.

The same spirit that built those first 172 miles of line still drives our cooperative today. Local neighbors working together, ensuring that every home, no matter how rural, has access to safe, affordable and reliable electricity.

Because of national and local leaders, the cooperative spirit and lights came on, and they’ve never gone out.

The first annual meeting is held, and State is dropped from the name

Central’s First Headquarters

delivering power with purpose

MEMBER 1.78 HOURS

.77 AVERAGE OUTAGES PER MEMBER AVERAGE OUTAGE DURATION

99.9%

power across our communities

co.

guiding central’s legacy

The strength of any electric cooperative lies in the dedication of a group of members who not only understand the needs of their community but also are committed to ensuring reliable, affordable and safe electricity for generations to come. Central’s trustees volunteer their time to represent the voices of our membership, guide the cooperative and uphold the values that have defined us from the beginning.

That beginning dates back to when 10 determined farmers came together with a shared vision of rural electrification. Their pioneering spirit laid the foundation for what our cooperative would become. Today’s trustees carry that same spirit. As stewards of Central’s legacy, our board honors the past while planning for the future, always keeping the needs of our members at the heart of every decision.