The CoServ Advantage: Working for Members
Twenty years ago, when Trisha Sheffield became a CoServ Member, she never imagined serving on the Board and becoming an advocate for the electric cooperative model.
Now, she has served on the CoServ Board of Directors for seven years, currently as the Board Chairwoman and District 5 Director.
“It’s a great organization,” she said. “We approach everything we do with an eye on the future, and I think that has served us well.”
Electric cooperatives have long been set apart from typical utility companies, and CoServ is no different. As a Member, you have the CoServ Advantage because you are at the core of every decision.
One example of this came just two years ago when CoServ took 100% control of its power purchasing, resulting in less risk for the co-op and lower electricity costs for Members.
This is accomplished by buying blocks of electricity in advance when prices are low, rather than purchasing in the real-time market when prices can spike.
“We have a team that every day they’re looking at the weather, looking at the load, and anticipating the needs of Members,” says Trisha. “It’s a very tailored approach.”
Another part of how CoServ works for you is ensuring reliability by being proactive; this includes checking system operations year-round, updating aging infrastructure, and investing in new technology or equipment.
“People are not satisfied with unreliable electric service, and we’re not satisfied with that either,” Trisha said.
Earlier this year, it was announced that CoServ’s 2024 System Average Interruption Duration Index (SAIDI) score was a record low for the co-op, coming in at 22.6. The SAIDI score is the average time a Member is without power in a given year, which was 23 min. at the co-op. The lower the SAIDI score, the better.
The year-round attention to detail, maintenance, and planning is a big component of the SAIDI score.
Working for Members: The CoServ Advantage
With CoServ recently reaching a milestone of 500,000 combined electric and gas meters, prioritizing reliability and investing in the future growth of North Texas has never been more important. It’s a big job and one that the co-op doesn’t take lightly.
“We’re working toward the betterment of our fellow Members,” said Bill Ragsdale, Vice Chairman of the CoServ Board of Directors and District 6 Director. “Our growth is one of our biggest assets.”
That includes CoServ’s own infrastructure, like last year’s opening of the Krum Service Center to better serve Members in the co-op’s northwestern service area. The location supports quicker response times and fleet maintenance.
“There are a lot of projects in the works that are going to keep CoServ busy [for] the next 10 years,” said Bill.
To bring it all full circle, these investments in growth begin with the Member. Since the co-op is Member-owned, when Members pay their utility bill they invest in the co-op. So, when there are excess revenues, they are eventually returned to Members in the form of Capital Credits.
“[Capital Credits] are recognition of the investment our members have made to [CoServ],” said Trisha. “We are not working for shareholders; we are not building our business so we can return dividends. Instead, it’s given back to the Members.”
At CoServ, Members power our progress and commitment. It’s the heart of the CoServ Advantage.
CoServ Electric Board Approves $12 Million Capital Credit Retirement
The CoServ Board of Directors voted in June to retire $12 million in Capital Credits back to Members. The Credit will be applied as a bill credit in August for all current Members who joined the co-op prior to Jan. 1, 2025. For more information on Capital Credit Retirements, visit CoServ.com/CapitalCredits.