Annual Meeting

2022 Annual Meeting

Thursday, May 5 at 6:30 p.m.

The meeting will be live-streamed on Golden Valley Electric Association (GVEA)’s YouTube and then shared to GVEA’s Facebook page!

Members will be able to access the meeting live on Thursday, May 5 at 6:30 p.m. via:

The meeting will be posted on GVEA’s Facebook Page.

Even though the meeting will not take place in person, GVEA members will still have a voice. We will be taking member comments via email from the start of the meeting on May 5 at 6:30 p.m. until approximately 7:30 p.m., at which time we will read the comments received. Members must provide their full name and district number. Comments sent without a first and last name will not be read aloud. To submit your comments, email us between 6:30 to 7:30 p.m. on May 5.

A Glance Back at 2021

Overview

Incorporated in 1946, Golden Valley Electric Association took shape when a small group of Alaskans became interested in bringing electric service to the Interior's more rural areas. These pioneers applied to the Rural Electrification Administration, which granted a loan to form a not-for-profit rural electric cooperative.

Peak load was 192.7 megawatts, which was set at 10 a.m. on November 29, 2021 (temperature was -31 F). The system peak of 223 MW was set in December 2007.

GVEA operates and maintains 3,292 miles of transmission and distribution lines and 40 substations. The system is interconnected with Fort Wainwright, Eielson AFB, Fort Greely, Clear Space Force Base, the University of Alaska-Fairbanks and all electric utilities in the Alaska Railbelt, which extends from Homer to Fairbanks.

One of the world's most powerful energy storage systems in terms of megawatt output belongs to GVEA. The Battery Energy Storage System (BESS), came online in November 2003. It can provide 27 megawatts of electricity for 15 minutes or up to 40 MW for less time.

Good¢ents kicked off in March of 2011, and today 65% of the co-op membership contributes monthly to the bill roundup program. An independent board of trustees reviews applications and awards grants to non-profit organizations in need. Since 2011, a total of $1,330,642 in Good¢ents grants have been awarded. For a complete list of Good¢ents recipients or to access an application, our Good¢ents Program page.

SNAP, GVEA's renewable energy program, launched in 2005. In 2010, SNAP Plus became GVEA's net metering program. Currently, a total of 578 renewable energy producers participate in the SNAP program, of which 99% of production comes from solar.

A total of 1.19 billion kilowatt-hours were sold in 2021. GVEA's average residential member consumed 600 kWh per month.

History of Service
  • Incorporated in 1946
  • Owned by 35,268 members
  • Service to nearly 45,149 meters throughout Interior Alaska, including Fairbanks, Delta Junction, Nenana, Healy and Cantwell
  • Average of 10.7 members per mile of line
  • 3,292 miles of power lines
  • 40 substations, including one mobile
  • 9 generation facilities
  • 381.5 megawatts of capacity
  • 5,972 square miles of service territory
  • 280 full-time employees
Board of Directors
  • District 1: David Messier, Treasurer
  • District 2: Tom DeLong, Chair
  • District 3: Rick Solie
  • District 4: Gary Newman, Secretary
  • District 5: Chris Bunch
  • District 6: John Sloan, Vice Chair
  • District 7: Todd Adams
Reliable

GVEA's reliability was over 99.9% in 2021. The Battery Energy Storage System, or BESS, responded to 57 events this year, preventing approximately 211,937 outages; this equates to an average of 4.5 prevented outages per meter.

Responsible
  • Currently, 65% of GVEA members participate in the Good¢ents roundup program
  • Since 2011, a total of $1,330,642 in Good¢ents grants have been awarded to non-profits within GVEA's service area
  • 8 academic scholarships are awarded each year to students in GVEA's service area
  • Top Business Supporter of the United Way of the Tanana Valley
Sustainable

Eva Creek Wind Farm

  • Full commercial operation: January 7, 2013
  • Capacity: 24.6 megawatts
  • 12 Senvion cold-climate turbines
  • 2021 capacity factor: 26.2%
  • In 2021, 52,376,090 kilowatt-hours were contributed to GVEA's grid; that's enough to power 7,274 Interior homes (using an average of 600 kilowatt-hours (kWh) per month) for a year

Fairbanks Solar Farm

  • Fully operational: October 4, 2018
  • Capacity: 563 kW Solar PV System
  • Each of the 1,760 panels can generate up to 320 watts
  • 337,443 kilowatt-hours were contributed to GVEA's grid; enough to power 46 Interior homes (600 kWh per month) for a year
  • Peak-energy day was May 14, 2021, with 389 kWh generated

SNAP GVEA's Renewable Energy & Net Metering Program

  • 578 members are SNAP/SNAP+ producers, 111 more than 2020
  • 99% of SNAP production is from solar energy
  • 2021 SNAP and SNAP+ production totaled 1.98 million kWh

“Door” Prizes

GVEA will continue its tradition of door prizes, even in the absence of a door! Electric bill credits totaling $3,000 will be awarded to 8 lucky members. Winners will be announced during the meeting, 4 members will win $250 electric credits and 4 members will win $500 electric credits.

2021 Annual Members Meeting

Interested in last year’s meeting? Watch a video on GVEA’s 2021 Annual Members’ Meeting.

Strategic Directives

Asset Management: Implement Asset Management System and Reliability Centered Maintenance programs and technologies to ensure a structured, planned, methodical, cross-departmental approach to the management of GVEA assets. Prepare for and adopt AK-CIP standards.

Demand Side Management and Distributed Generation: Create a complementary strategy to incorporate demand side management and distributed generation into GVEA’s generation strategy.

Equity Management Planning: Revise Policy 5.4 to establish a minimum equity to asset ratio and related annual TIER and DSC ratios reflective of future asset investment.

Generation Portfolio: Recognizing GVEA’s aging generation fleet and evolving regulatory landscape, create, recommend and implement as approved, a future generation strategy that utilizes proven generation and demand side technologies on a GVEA owned or purchased (locally or on a Railbelt) basis to optimally balance fuel and life cycle cost, emissions reduction, load, reliability, fuel resource and time frame criteria.

Industry Influence: Create and implement a strategy guided by the philosophy of “engagement at every level by every level” to influence utility issues at the statewide level as driven by established corporate positions on key issues.

Information Technology: Create and implement a comprehensive information technology strategy to establish a cross-departmental process for the identification, evaluation, purchase, effective installation and optimal utilization of cost-effective, proven, industry-standard IT for the benefit of GVEA and its members.

Member and Community Communications: Develop a corporate brand and communications strategy that builds trust and maximizes engagement with GVEA members through education, learning, and communication about GVEA, utilizing a multitude of communication mediums and innovative technology platforms.

PM 2.5 Issue: Continue to collaboratively work to address and resolve the PM2.5 issue in the community.

Performance Metrics: Continue to refine the use of metrics to measure actual cooperative, departmental and employee performance against established targets.

Safety: Instill and promote a culture of safety defined by individual ownership and passion that establishes employee and member safety as a critical value and top priority for the GVEA Board of Directors and employees, and that is translated into safety performance measured by relevant leading and lagging metrics. Establish non-negotiable safety standards for contractors and other third parties performing work for or with GVEA.

Vegetation Management: Ensure GVEA has a robust vegetation plan in place and is being executed.