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Manager’s Update A Business Customer-Owners Can Trust…


The electric utility environment is changing continuously. Deregulation and competition are no longer on the front burn- er in the minds of the lawmakers. The buzz word in the last few years has been global warming and greenhouse gases. Placing a cap on carbon production or taxing it would have a direct impact on the price of electricity that we provide you. There has to be a balanced approach so that we can be good stewards of the environment and at the same time provide affordable electricity to our members. It is our responsibil- ity, as your electric cooperative, to be among the leading team when it comes to shaping the future of our industry. We have to make sure that the needs of our member/owners are protected in this new changing environment. Our priority is working through National Rural Electric Cooperative Associ- ation (NRECA) to preserve the cooperative environment and provide electric power to our members at the lowest possible cost.


The crash of the stock market and the news of the bank- ruptcies and the bail-outs in the past few years have brought forward a mistrust of the business world by the public. It is important to note that an electric cooperative, due to its unique structure, is immune from such happenings. An electric coop- erative’s customers are also its owners and stockholders. This is different from an investor-owned utility whose customers and stockholders are two different groups of people. The pri- mary objective of an investor owned utility is maximizing the  is nothing wrong with that. This is the basis of our market -  its owners or stockholders.


Of course, this shows that the objectives of stockholders and customers are usually not the same. In fact, they are op-    is where the difference in an electric cooperative shines. Our


Where your electric dollar went in 2011


 


customers and owners are the same. Our mission is to provide the ser- vice at the lowest possible cost.  an electric cooperative to misrepre-  stock prices. In fact, the new law requires that the chief executive  traded organization personally sign and verify the accuracy   We are pleased to report that Lake Region Electric Coop- erative (LREC) has had a successful year in 2011. Our rates have remained steady since February of 2009 despite the up- wards pressure on the material, supplies, labor, and healthcare  ratio of 55.45% and continuously improving the quality of service we provide to our members. While our rates have ranked lower than average in the nation and within Oklaho- ma, we have ranked among the highest in the American Cus-  89 as compared to the nationwide co-op average of 83 and the investor owned utilities average of 74. We cannot predict the future, but one thing is certain. The need to communicate and transmit data is becoming more im- portant every year, whether it is the need for the smart grid for cooperatives or access to the internet by our members. Co- operatives brought electricity to the rural areas in the 1930s, they may have to step up and bring broadband access to mem- bers in this age of technology. In the future, we will continue to be vigilant in exploring other needs and opportunities that would make LREC stronger and our members happier.       and rate stability have been among the top drivers directing Lake Region Electric Cooperative’s long-range planning and day-to-day operations. We are pleased to announce that we have met or exceeded those goals for 2011.


 


 2 LREC Powerline Press 


Gary Cooper Chief Executive Officer


Hamid Vahdatipour Board President


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