Yellowstone Valley Electric Cooperative, Inc. (YVEC) works diligently to make sure all our members have the electric power they need at the best possible price. Just for a moment, I want to give you a look behind the scenes and perhaps provide a glimpse into the network of cooperatives and other businesses which we’ve formed with the sole purpose of making sure we are “Powering Possibility”.
YVEC is a part of the Basin Electric Power Cooperative Family. Basin is 1 of the largest cooperatives in the United States. They are a generation and transmission cooperative. In other words, they create and ship the majority of the power that we purchase at YVEC. We are 1 of 140 member co-ops that make up Basin. Additionally, in order to have more control over power supply, pricing, and other local issues, we are also a member of Central Montana Electric Power Cooperative. Central is made up of 8 local electric distribution co-ops, such as Park Electric in Livingston and Big Flat Electric in Malta. Central is a “Class A” member of Basin. They represent YVEC’s interests at Basin on the board level and on various committees and working groups. YVEC is also represented on the Central Montana Electric Power Cooperative’s Board of Directors by 1 of our Trustees.
It also takes a lot of capital to run an electric co-op. When we need to borrow money, we typically turn to either the National Rural Utilities Cooperative Finance Corporation (CFC) or CoBank. Both of these organizations are also cooperatives. CFC is owned by electric cooperatives throughout the country, and CoBank is owned by electric and agricultural co-ops nationwide. They are both excellent sources of funding and provide very competitive terms. As access to capital is imperative to YVEC, I have focused my efforts on this area of the co-op world. I have the absolute honor of serving on the Board of Directors at CoBank.
Each month, we generate an electric bill that we send to you either electronically or through regular mail. We use the National Information Solutions Cooperative (NISC) to ensure we are able to apply the latest technology, help lower your energy costs, and send timely, accurate bills to you. NISC provides the software and support we use for mapping, staking, service orders, and many other important tasks. Our outage and metering software are also NISC products.
No business can operate without several different types of insurance, such as general liability, auto, and workers’ compensation. Once again, along with other electric cooperatives across the country, we are members of the Federated Rural Electric Insurance Exchange Cooperative. This cooperative allows us to maintain reliable insurance coverage at an incredibly affordable price.
It also takes a lot of material to operate an electric co-op, such as poles, wires, transformers, and many other items that you may not see. That is why we have partnered with Border States and formed a strategic business relationship. Essentially all of our materials are handled by Border States on a consignment basis. Border States stocks our warehouses with everything we need to operate. However, we don’t actually get billed for that material until we take it off our shelves and install it in the field. This very efficient program saves money and improves the availability of all materials we need to provide great service.
YVEC is also a member of Touchstone Energy, a nationwide alliance of 750 local, consumer-owned electric cooperatives. Additionally, we actively participate in trade organizations like the National Rural Electric Cooperatives Association and the Northwest Public Power Association. Our participation allows us access to a wealth of informational materials. It also allows us to benchmark our performance in comparison with other co-ops so that we can learn from others as we constantly strive to serve you better.
So, while you are a member of 1 electric cooperative, you are actually connected to many other co-ops and businesses. Being connected to this cooperative network ensures your needs are met in the most efficient way possible. This entire network of cooperatives operates on a not-for-profit basis, just like YVEC. These co-ops are mission-based and member-focused, which aligns quite well with our focus on providing safe, reliable, and affordable power to all the communities we serve.
Brandon J. Wittman
Chief Executive Officer