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PRESIDENT & CEO LETTER
2020 WAS ONE TO REMEMBER–AND NOT IN A GOOD WAY. THIS PAST YEAR ROBBED US ALL OF OUR PLANS, SAFETY, COMFORT AND OUR LIVES AS WE KNEW THEM.
We’ve hurt, cried, wondered ‘why us’ and ‘why now?’ Despite all of the overwhelming disappointment, your utility has persevered through insurmountable hardship and come out stronger and more resilient.
Resiliency is defined as the ability to withstand adversity and bounce back from difficult life events. To say that we, as a society, have shown resiliency over the last year is an understatement. Inland Power persevered through it all to ensure you continued to receive power during this critical time with the world quarantining while working and learning virtually from home. Having reliable power is always a priority for Inland Power, but it has never been as critical to the daily lives of our members as during the COVID-19 pandemic.
Recent months have been a time for
reflection. Despite the challenges, it is amazing to look back and see all that Inland Power accomplished in 2020. We have been with you every step of the way through this difficult time. Aside from the impacts of COVID-19, Mother Nature also proved to be a formidable opponent in 2020. Our Labor Day BBQs were interrupted by wildfires fueled by high winds, which caused widespread outages. Some areas saw severe damage, including over five hundred destroyed poles. Members in the Creston area had an initial
forecast of being without power for two weeks due to the damage. Inland crews rallied and were able to make a record
number of repairs and pole replacements to restore power to the community in just six days.
As always, Inland’s commitment to providing reliable power is at the forefront of our focus. Ensuring our system remains resilient and dependable is of the utmost importance to Inland Power. Our long-
PRESIDENT & CEO LETTER
term work plan includes critical updates to substations and other infrastructure
to keep the lights on. In addition to our annual work plan, our team processed a record number of new service requests,
managed our fleet inventory, redesigned our warehouse, and accomplished many other achievements that are highlighted throughout this annual report.
Inland’s overall financial health is excellent. After setting aside the BPA Prepayment transaction, total assets are $302 million dollars, long-term debt is $69 million and net margins were $4.8 million in 2020. Your cooperative was also able to return $2.46 million in capital credits to the
membership in 2020.
Throughout this report, you will see evidence of our dedication to serving and continually creating value for our members. We would like to thank our employees for their resilience, dedication, perseverance and willingness to embrace change this past year to effectively respond to the changing environment and accomplish all the successes highlighted in this annual report. We continue to believe that our products, services and the value they add to our members remain the fundamental
elements of our continued success to
improve the quality of life for our valued members.
On behalf of your Inland Power board of trustees and all the employees of Inland Power we thank you for your business, the opportunity to serve your needs and we look forward to a successful, healing and happier year in 2021.
