Inland Power is my cooperative!
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September 2022
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E N E R GY Things to know about Electric Vehicles (EVs).
CA$H BACK
YOUR COOPERATIVE Get out your vote!
SAFETY Back to school safety
New name, same great money-back program!
Y
ou own Inland Power, which operates on a not-for-profit basis as a cooperative. Our sole purpose is to deliver safe and reliable power to you at cost. One of the perks of being an Inland Power member is getting cash back! All revenue exceeding the cost to provide electric service is allocated back to you through our CA$H BACK program, also known as capital credits. Once allocated, these funds are held by the cooperative as a resource to replace aging infrastructure, increase capacity, maintain reliability and to operate your cooperative. This system helps keep your rates low and your service reliable. The amount of cash back you are allocated each year is based on how much electricity you used during the previous year. In time, you will receive all your allocated cash back. The cooperative’s board of trustees retire these funds when finances allow, often on an
annual basis. Portions of all vintage years are retired each fall and may take years to return all vintage year allocations to you. 2021 Allocation Starting in 2017, the board of trustees voted to allow members to receive their CA$H BACK payment early, but it must be equitable with those who wait years. In other words, $1 today is not the same as it will be years from now. Therefore, any early payment must be discounted or reduced to a level that makes it equivalent to those members on a 35-year rotation. Your 2021 discounted CA$H BACK payout will be applied as a credit to your November bill. Any member who wishes to opt-out of the discounted CA$H BACK program may submit their request by Sept. 30, 2022 by returning the “Opt-Out” form found on our website at inlandpower.com/cash-back.
By switching to the discounted payout method, members can participate in the benefit of being a cooperative member without having to wait for the full benefit. This also allows your cooperative to keep your rates as low as possible. 1996-2017 Vintage Year Allocation For those members who have unpaid capital credits, or who opt-out of the discounted program and have current year capital credits, your capital credits will continue to be retired at the regular interval and paid to you as the board of trustees approves the payments each year. For additional details, please visit our website at inlandpower.com/cash-back, or call your Inland Power member experience team at 509-789-4277. See the graphic inside to learn more how our CA$H BACK program works.
Graphic inside
OUR
mission
IS OUR
members.
– M I S S I O N S TAT E M E N T
2 1
When you move into a home or establish a business with IPL, you become a member of the cooperative.
Unretired capital credits are used as operating capital for system improvements & maintenance.
3 When capital credits are retired, anyone who was a member in the year being retired will receive a CA$H BACK refund for a portion of the amount allocated to them.
This reduces the need to borrow funds, which keeps costs down.
5
A CA$H BACK account is established in your name & IPL uses this to record your investment in the co-op.
4 Each year, the board evaluates the financial condition of the co-op to determine if we can retire capital credits. A distribution is not guaranteed.
Each year any co-op margins (revenue exceeding the cost to provide electric service) are allocated to your CA$H BACK account.
Your cash back is based on the amount of electricity you use, so your allocation may vary each year.
What you should know before buying an EV
E
lectric vehicles (EVs) are becoming more and more popular. With lofty goals to electrify the transportation sector, more vehicle companies are turning out EVs at higher volumes. What once seemed futuristic is now becoming a reality. Yet people are still concerned about purchasing an EV. Inland Power wants to be your source of information for all things electric, including EV. That is why we have purchased our first electric vehicle—a Ford Mustang Mach-E. We hope our thoughts will provide helpful information as you weigh your pros and cons about buying an EV. With the extreme gas prices we’ve seen lately, it’s obvious that not having to pay more than $4 per gallon is a major plus. EVs also have less mantenance like oil changes, which is another cost saver. They are more environmentally friendly and can definitely get up and go when needed.
time than gasing up a car. This is also made worse by the lack of available charging infrastructure. It’s important to note that all level two chargers are not created equal. The amount of time to charge varies depending on the kW size. A 50 kW charger will recharge your EV much slower than a 350 kw charger. Additionally, public chargers generally only charge vehicles up to 80 percent, causing more frequent “fill-ups.” The purchase price can also be intimidating. EVs can range between $20,000 to over $90,000. Typically, the lower-priced EVs come with a shorter range. EVs are certainly an exciting new way to travel. While the future of EVs is here, adjustments must be made regarding range, price and charging infrastructure. Below is a list on what we like and what concerns us regarding owning and driving an EV.
Even so, There are some aspects that conern us. Charging an EV takes significantly more
Do you have an EV and want to share your story? Let us know! You can email us at operator@inlandpower.com.
Benefits
Concerns
• Less maintenance cost • No more high gas prices • Environmentally friendly • Has a lot of get-up-and-go
• Takes longer to charge than to fill with gas • Lack of charging infrastructure • Not all chargers are created equal • Purchase price
Back to school
A
s our kids head back to school, nothing is more important than making sure they get there and back home safely. As drivers, taking extra precautions around school zones and buses is critical. If you have children in school, it’s also important to make sure they’re traveling safely. Be sure to slow down and observe the lower speed limits in school zones. Never pass a bus stopped to load or unload children unless you’re on the other side of a divided road, and leave plenty of space for kids to safely enter and exit the bus. Finally, avoid distractions such as cell phones. Distracted driving is extremely dangerous. Whether your child walks, rides, or takes the bus to school, there are a few things they should know to stay safe. If walking, use the sidewalk where available and if not, walk facing traffic. When crossing streets, get your kids into the habit of looking left, right and left again first. Also, try to make eye contact with drivers and only cross at crosswalks or intersections. If riding a bike to school, kids should ride single-file on the right side of the road, avoid distractions and stop to walk bikes in crosswalks. Of course, a properly fitted helmet is also a must! Finally, kids riding the bus should always stand back from the road’s edge when being picked up. If your child must cross the street in front of the bus, teach them to cross at least 10 feet in front of the bus where they can always see the driver. Use these tips to teach your kids to help make sure all the children in our communities have a safe and happy return to school this fall!
How far does $4.79* drive your car?
SCHOOL BUS
Gas 24 miles EV 216 miles *Price of gasoline per gallon at the time of publication
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Get out your vote!
I
nland Power understands the value of building relationships with elected officials at all levels of government. There are many important policy issues that directly impact electric utilities and ultimately, you, our members we proudly serve. Strengthening our relationships with elected leaders positions us to advocate for our communities. While Inland Power is a locally-owned cooperative, we’re part of a larger network of electric co-ops. Through our non-partisan grassroots program known as “Co-ops Vote,” we’re working to enhance the political strength of electric co-ops and boost voter turnout. There’s power in numbers, and when we all show up at the polls, we can voice the issues that matter most to our community. Further, Inland Power has implemented the Voices for Co-op Power (VCP) program and our Grassroots Action Team. We want to put you in the advocate seat and provide you with information and resources so you can help advocate for your cooperative. Learn more about how to get involved at inlandpower.com/ grassroots-action, or scan the QR code above. Get out the vote! National Voter Registration Day is Sept. 20, 2022, and midterm elections are right around the corner. If you’re looking to get involved or simply make sure you’re ready to vote, here are some easy ways you can exercise your civic duty.
1. Don’t assume your voter registration status is up to date. Visit www.vote.coop, then click “Election Resources” to verify your status. 2. Be informed. In addition to ensuring your registration is up to date, learning about local policy issues and candidates is one of the best ways you can prepare to vote. 3. Be active on social media. Follow @coopsvote on Facebook, Twitter and Instagram and let others know you’re a #coopvoter. Encourage your friends and family to do the same. 4. Help others prepare to vote. Work a National Voter Registration event. See nationalvoterregistrationday.org/events to find events near you. Volunteer to be a poll worker during midterm elections or offer to drive others to their polling places. 5. Vote! It’s the easiest––and most important––way you can exercise your civic duty. Voting is a form of personal empowerment that gives you the opportunity to voice your opinion on the issues that matter most to you. Make a plan to vote and help others in our community become #VoteReady. We encourage everyone, regardless of political beliefs, to vote, stand up for our local community and make a collective impact.