2021
INLAND POWER ANNUAL REPORT
new beginnings
10110 W HALLETT RD. S P O K A N E , WA 9 9 2 24
president & ceo letter
1
mission
our mission is our members
3
OUR MISSION IS OUR
inland by the numbers
5
financials/rates
7
vision
wildfire
9
2021 accomplishments
11
members
BE A PR EMIER MEMBER-OW NED ENERGY COOPER ATI V E COMMITTED TO
safe, reliable
service at competitive rates W ITH GR EAT MEMBER ENGAGEMENT A ND EX PER IENCES.
president & ceo letter We’ve taken another trip around the sun and we are grateful to continue moving forward toward some semblance of normal after more than two years of chaos.
Jasen comes to Inland with a wide breadth
be beneficial and accessible to everyone–
record-shattering number of new service
of experience in the electric cooperative
regardless of income. We also learned that
requests and managed our fleet inventory,
world. He has been in the industry more
electric vehicles may not be at the forefront
among many other achievements that are
than 26 years and has served a combined
of your concerns. While state and federal
highlighted throughout this annual report.
20 years in the CEO role for two previous
goals and future mandates won’t go away,
electric co-ops. We are excited about
we plan to offer educational programs and
his vision for Inland Power and we look
resources, so you are ready for the EV world
forward to our future success under Jasen’s
when it arrives.
leadership.
Inland Power has also adapted, refocused and prospered. We look to 2022 as a new beginning and we are thrilled to continue our longstanding tradition of providing reliable power with an exceptional
dollars, long-term debt is $68 million and
Late last year, Inland Power partnered with
member satisfaction and we are so grateful
cooperative was also able to return $2.48
the National Rural Electric Cooperative
and humbled by the results. Overall, Inland
million in capital credits to the membership
Association (NRECA) to conduct an in-depth
Power ranked in the top 25 percent in terms
in 2021.
member survey to learn what we are doing
of member satisfaction when compared
well, what we can improve and what you as a
to other utilities across the nation. We are
top 25 percent IN TER MS OF MEMBER SATISFACTION.
Throughout this report, you will see evidence of our commitment to service and continually creating value for our members. We would like to thank our employees for their dedication to Inland Power as well as the successes highlighted in this annual report. On behalf of your Inland Power board of
Inland Power saw various new beginnings in 2021. Our dedicated employees began returning to the office as the impacts of the pandemic shifted. While we were grateful for the ability to work from home, we were glad to come together again as we met new faces and enjoyed seeing familiar ones. One of the most significant new beginnings was the hiring of our new CEO. After a six-month search, we were thrilled to welcome your new CEO, Jasen Bronec to the Inland Power family in August.
RANDY SUESS, PRESIDENT INLAND POWER BOARD OF TRUSTEES
transaction, total assets are $205 million net margins were $2.73 million in 2021. Your
member experience.
JASEN BRONEC, CEO INLAND POWER AND LIGHT
After setting aside the BPA prepayment
A large part of our survey focused on
INL A ND POW ER R A NK ED IN THE As the world continues to adjust to the impacts of the pandemic,
Inland’s overall financial health is excellent.
membership would like to see from Inland in
thrilled that you value your cooperative as
trustees and all the employees of Inland
the future. From conservation programs and
much as we value you.
Power we thank you for your business,
electric vehicles, to backup generation and energy assistance, you spoke up and voiced your opinion, for which we are very thankful.
As always, Inland’s commitment to providing reliable power is at the forefront of our focus. Ensuring our system remains
We are dedicated to creating and
resilient and dependable is of the utmost
invigorating programs that help you with
importance to Inland Power. Our long-
your energy needs. We learned that
term work plan includes critical updates
weatherization programs and back up
to substations and other infrastructure to
generation are top-of-mind and we are
keep the lights on. In addition to our annual
devoted to ensuring these programs will
work plan, our team processed another
the opportunity to serve your needs and we look forward to continuing this new beginning in 2022.
I N L A N D POW ER’S COM M ITM EN T TO
providing reliable power I S
AT T H E F O R E F R O N T O F O U R F O C U S .
1 NEW BEGINNINGS | 2021 ANNUAL REPORT
NEW BEGINNINGS | 2021 ANNUAL REPORT 2
our mission is our members
At Inland Power, our community is at the heart of everything we do. When we say our mission is our members, we mean more than just providing electricity. We believe in giving back to our communities. As an Inland Power member, you have a unique opportunity to support the Inland Power Community Foundation, which is a program that provides financial support to organizations in our service territory as well as individual Inland Power members. The concept of the foundation is an
OV E RC OM I NG E L E CT R IC A R R E A R AGE S
For years, Inland has worked closely with the Spokane Neighborhood Action Partners (SNAP) to offer energy assistance. This past year, Inland and SNAP have worked hard to ensure the much-needed assistance our members needed was
Although pandemic mandates are beginning to ease, many impacts, specifically economic, are still plaguing the nation. Inland Power’s member
available. In 2021, over 550 Inland Power
engagement team has worked diligently
members received more than $54,342 through SNAP’s energy assistance program. We are grateful for our partnership with SNAP and the impact being made directly to our members in need.
to help set up payment arrangements for members who fell behind on their energy bill due to negative effects of the pandemic.
OV ER 550 INL A ND POW ER MEMBER S R ECEI V ED
more than $54,342.
YOUR DONATIONS M A K E THIS
extension of the principle on which
POSSIBLE .
electric cooperatives were built more than
thank you.
50 years ago. We are neighbors helping neighbors to benefit the communities in
We would not be able to give back in this
which we live and work. From nonprofit
way if not for your generous support. It
donations to scholarship recipients and
is your donations that make this possible.
livestock exhibitors, your community
Your support means our neighbors are
foundation gave more than $53,000 to
being supported. Thank you to all of you
deserving recipients all across our service
who have given to this program.
territory this past year.
AT I N L A N D P O W E R ,
our community is at the heart OF E V ERY TH ING W E DO. 3 NEW BEGINNINGS | 2021 ANNUAL REPORT
NEW BEGINNINGS | 2021 ANNUAL REPORT 4
inland by the numbers
45,147
33,548 101,962 7,758
meters
transformers
NUMBER OF
NUMBER OF
NUMBER OF
poles
MILES OF
5.8
line
members PER MILE OF line
5 NEW BEGINNINGS | 2021 ANNUAL REPORT
90
TOTAL NUMBER OF employees
3,354
NUMBER OF MEMBERS PARTICIPATING IN social
media
20,096 2,846
MEMBERS ENROLLED IN SmartHub
MEMBERS GIVING TO THE
Inland Power Community Foundation
NEW BEGINNINGS | 2021 ANNUAL REPORT 6
2020 ytd financial statements
As a cooperative, our members maintain an ownership interest and stake in everything we do, and that includes our financial strength. Your cooperative had a banner year in 2021. After setting aside the BPA Prepayment transaction, total assets are $205 million dollars, long-term debt is $68 million and net margins were $2.73 million in 2021. Your cooperative was also able to return $2.48 million in capital credits to the membership in 2021.
average residential rates for 2021 per kwh Inland Power’s 2021 rate per kWh is 8.37 cents. 16.63 16.33
8.33 10.57
8.82 7.99
14.87
10.82
10.06
8.97
8.33 8.27
10.27
9.70
8.97 9.75
10.38
18.0
Out of 815 cooperatives in the country, Inland Power ranks 17th for lowest rates.
9.77¢ 8.37¢
10.24 8.75
7.63 9.33
9.90
8.32 9.13
8.36
7.51
19.82
9.84
$ 167,069,000 Non-Utility Plant 1,000
Irrigation 7% Commercial 19% Residential 74%
165,581,000 1,000 6,553,000
Cash and Cash Equivalents 3,306,000
16,000
Accounts & Notes Receivable 13,519,000
13,248,000
Materials & Supplies 9,344,000
7,673,000
BPA Prepayment 92,357,000
103,473,000
Other Prepayment 1,761,000
1,336,000
Other Assets 4,077,00
4,314,00
$ 298,221,000
$ 302,195,000
EQUITIES, MARGINS AND LIABILITIES
Equities & Margins 112,564,000 Accounts Payable 10,282,000
112,055,000
Long Term Debt 68,557,000
68,669,000
BPA Prepay Long Term Debt 88,279,000
99,550,000
9,550,000
Other Liabilities 7,681,000
8,535,000
Deferred Gain & Credits
3,836,000 $ 302,195,000
$
2021 78,291,000
$
2020 80,885,000
Cost of Power 43,319,000 41,882,000 Consumer Accounts & Marketing
11,309,000
12,935,000
1,250,000
2,641,000
Administrative & General 7,778,000
10.06
6,119,000
Depreciation 7,406,000
7,336,000
Taxes 4,776,000
4,850,000
Interest 2,774,000
2,700,000
Total Cost of Electric Service $ 78,462,000 $ 78,612,000 Operating Margins
(321,000)
2,422,000
Net Benefits of BPA Prepay
1,381,000
1,513,000
Non-Operating Margins
1,674,000
875,000
Net Margins
(i n t h o u s a n d s)
$
Investments in Assoc. Orgs. 6,787,000
Operations & Maintenance
7.50 - 9.50 9.51 - 11.50 11.51 - 16.50 16.51+
ytd revenue
2020
EXPENSES
9.93
27.55
number of meters
2021
Net Utility Plant
Operating Revenue
9.52 10.44
ASSETS
STATEMENTS OF REVENUES & MARGINS
11.90
9.43
13.04¢
BALANCE SHEETS
10,859,000 $ 298,221,000
11.15
9.16
8.58
9.64
THE NATION
13.63
9.44
9.92
lowest rates IN
18.54 19.13
12.21
8.27
H AS SOME OF THE
13.54
18.19
8.53
9.13
INL A ND POW ER
ytd expenses Power Costs 55%
$
2,734,000
$
4,810,000
equity w/o BPA prepay
Admin & Operations 26% Taxes, Depreciation & Interest 19%
NEW BEGINNINGS | 2021 ANNUAL REPORT 8
Wildfire burns in eastern Washington. In 2021, 674,249 acres burned throughout Washington state.
wildfire It appears the Pacific Northwest has added a fifth season to spring, summer, fall and winter: wildfire season.
While we have much to celebrate in
be a large undertaking, but it is vital to
terms of accomplishments, we also must
ensure the longevity and success of our
address some struggles. It appears the
cooperative.
Pacific Northwest has added a fifth season to spring, summer, fall and winter. We now must include wildfire season in the mix. The last two years have proven to be trying for our region as wildfires have scorched millions of acres and destroyed towns, homes and lives. Inland Power, along with other utilities in the region have worked hard to create wildfire mitigation plans that will help reduce the risk of fire spreading. From placing our electric system in fire safety mode during dangerous fire weather, to hardening our infrastructure against the threat of fires, Inland Power is committed to keeping you and your cooperative safe. This will
9 NEW BEGINNINGS | 2021 ANNUAL REPORT
Part of increasing our protections against wildfire is ensuring our rights-of-way are clear of all vegetation and obstructions. Inland only has a 15-foot right of way on each side of our poles. Often, extremely tall trees that are outside our right-of-way could fall and still come into contact with our lines.
If you have dead or dying trees that you are concerned about on your property, contact our rightof-way maintenance coordinator at (509) 789-4287.
INL A ND POW ER IS COMMITTED TO
keeping you & your cooperative safe, ENSUR ING THE LONGEV ITY & SUCCESS OF OUR COOPER ATI V E . NEW BEGINNINGS | 2021 ANNUAL REPORT 10
2021 operational accomplishments
After power purchases, our operations & engineering departments make up the bulk of Inland’s expense budget each year.
These projects range from substation enhancements,
• Converted a portion of single-phase line to three phase
N E W SE RV IC E R E QU E STS
I N L A N D F L E ET
includes warehouse systems and protocols
As people flock to Spokane and building of
Inland Power’s fleet is another aspect of
to ensure proper inventory management.
new homes skyrockets, work production
Inland’s budget that adds up quickly. Our
and new construction continues to
fleet must be safe, reliable and able to
outperform previous years. New service
endure driving in tough, off-road conditions.
replacing poles, bells and cutouts and building several
on the southern shore of Long Lake to provide improved
requests hit a new record in 2021 and our
miles of overhead and underground line. We at Inland
system reliability and support future growth in the area.
dedicated member experience and design
Power are committed to providing members with safe and reliable service and we are excited to continue our system
• Built a portion of line along Spotted Road between Crosscut Road and Ridgeway to improve switching
improvements.
capabilities in the area. This should improve system
In 2021 Inland’s operation and engineering departments
reliability, by providing backup transmission, along the
focused on these large projects:
northern shore of Long Lake and on the north side of
Upgraded the power transformer in Mica
• Rebuilt a section of line generally along Craig Road on
substation to provide greater responsiveness to
the south side of Long Lake to provide improved system
outages and provide room for future load growth in the Dishman-Mica area.
reliability and support future growth in the area. • Made further refinements to our wildfire mitigation plan
• Completed the first year of a threeyear replacement of selected
efficiency. This was an incredible feat. Our growth over the last several years has been exciting and we look forward to continue this trajectory of progress. New Service Requests:
Spokane.
• Upgrade of the Mica Substation.
team handled all the requests quickly and
and internal processes to reduce the risk of wildfire in our service territory.
• 2019 = 954
• 2021 = 1,418
switching devices in aged
million in three new medium bucket trucks,
efficiency. In 2021, we constructed three
two large bucket trucks, a substation truck,
new covered structures in our storage yard,
five new crew material trucks, two UTVs, new
two of which are parking buildings for our
trailers and new mini excavators. Each year
equipment. The other building serves as a
we are very diligent in assessing our needs,
transformer exchange and hazard material
getting the best value, and getting the right
building.
subdivisions to improve system reliability.
R E L I A BI L I T Y
end of the equipment’s useful life to avoid
We pride ourselves in providing affordable
the breakdowns that impact our employee’s
and reliable electric service to our
ability to serve you, our members.
members. We are very proud to say that our power system holds a reliability score
WA R E HOUSE
• 2020 = 1,082
square feet of space, which allows for much better material organization and distribution
as well, that we replace equipment at the
• 2018 = 541
storage yard, which added nearly 200,000
In 2021 we invested approximately $2.01
equipment for the job. It is very important
• 2017 = 445
Last year we reported that we expanded our
of 99.96 percent. Even so, there are times
Much like our fleet, it is imperative that
when circumstances outside our control
our warehouse is efficiently designed so
cause power outages. Here is a list of
crews can quickly access materials needed
outages by cause that we experienced in
for outages and other projects. This also
2021.
2021 outages by cause animal
equipment
4.4%
12.2% 0.0%
extreme storm
fire
lightning
manmade
planned
1.2%
0.6%
4.3%
51.0%
snow / ice
tree
unknown
wind
0.9%
4.2%
13.3%
5.7%
power supplier
2.2%
NEW BEGINNINGS | 2021 ANNUAL REPORT 12
10110 W HALLETT RD. SPOKANE, WA 99224
2022 board of trustees RANDY SUESS PRESIDENT CHENEY, WA
GARRY ROSMAN
VICE PRESIDENT DAVENPORT, WA
KRISTINA BAHR
TREASURER SPOKANE VALLEY, WA
JIM KROLL
SECRETARY COLFAX, WA
CHRIS DAVIS
TRUSTEE COLBERT, WA
GALE RETTKOWSKI TRUSTEE WILBUR, WA
BRIAN SLAYBAUGH
TRUSTEE POMEROY, WA
