Members left in the dark: LPEA board spends big while margins shrink and bills climb
By Jen Schumann | Rocky Mountain Voice
When La Plata Electric Association (LPEA) members open their May power bills, most will see the effects of a 7.72% rate increase that quietly took effect April 1. While LPEA’s board says the hike is needed to cover infrastructure and supply costs, many members are beginning to ask harder questions – not just about what they’re paying, but about how their cooperative is being run.
From 2019 to 2023, La Plata Electric Association’s revenue barely grew, just $3 million over five years. But its expenses went up by more than $10 million, causing profits to drop sharply.
In 2019, LPEA made $10.3 million in net income.
By 2023, that had fallen to just $3.8 million, a 63% decline. That means the co-op now keeps only 3 cents of every do...