Improving quality of life for 84 years and counting
As part of our mission to improve our members' quality of life through the safe delivery of highly reliable, reasonably priced electric service, innovative energy programs and exceptional member service, we are proud to present our 2020 Annual Report. It is easy to see the dedication to our values throughout the Annual Report in the form of transparent data and financial statements. We are fully committed to serving our member-consumers with the highest possible level of service while remembering our roots and planning for an exciting future.
OEC Board of Trustees
Oklahoma Electric Cooperative's policies and procedures are determined by a member-elected board of trustees. These trustees meet monthly to set guidelines for the co-op's management and to direct your voice in the cooperative's operations. OEC's board is comprised of nine trustees, each a co-op member from a different part of the co-op's service area.
District Map
Senior Leadership
Paving the Way for Renewables in Oklahoma
OEC is committed to providing the most reliable, cost-effective electricity to our 45,000 members in central Oklahoma. We have an appreciation for the renewable resources available to us and continuously encourage our wholesale power provider, Western Farmers Electric Cooperative (WFEC), to help us provide the clean power they generate to our members.
Containing 950 solar panels and generating up to 250 kilowatts (enough to fully power a neighborhood of 30-40 homes), Oklahoma’s innovative and first-of-its-kind Solar Garden allows OEC and WFEC to expand our already impressive renewables portfolio — roughly 35 percent of the power WFEC generates each month comes from renewable sources. Installed in 2017, OEC's Solar Garden has been producing clean power at surprisingly low, competitive costs.
The power generated from the Solar Garden, as well as the 40-acre Solar Farm located near Tuttle, feeds into WFEC’s transmission lines and our distribution lines to help power our members’ homes and businesses.
Quality Over Quantity
As an OEC member, you are getting some of the most reliable electricity in the state, and it's not an accident. OEC's board of trustees, senior leadership and employees have been dedicating time and effort to ensuring our electrical system is one that can withstand anything Mother Nature throws at it.
As part of a 2017 strategic initiative, we identified the areas of our system that were not performing up to our standards and tackled them head-on. As a result, our entire system has experienced record-setting low outage times, putting our marks among the best in the nation. Read more in this article from our Co-op News magazine.
Reliability matters, and no one in central Oklahoma is doing it better than OEC.
What caused outages in 2020?
Investor-owned utility customers were without power 140% longer than OEC members in 2020.
Vegetation management plays a large role in providing safe, reliable electricity. Co-ops and electric companies in general sometimes get a bad rap for the role we play in the removal of trees, but our efforts help our system withstand Oklahoma's unpredictable weather. We're a fan of trees at OEC, just not intermingled with our electric lines. In fact, we encourage the safe planting of trees in a mindful location in conjunction with our infrastructure. Contact our on-staff certified arborists Clifford Chastain or Shain Brown if you have questions about our vegetation practices.
OEC has given away 400 free trees to members
What Does it Mean to be a Cooperative?
Did you know cooperatives are not-for-profit? That means we return any margins we've earned to you — our member-consumers! It's perhaps the most unique part of the cooperative business model, and we have been proud to share our financial statements with you for the last 83 years.
Where Money Comes From:
Where Money Goes:
Almost 60 percent of each dollar goes directly to our wholesale power provider. Remember, we do not generate the power, but we do ensure it gets safely and reliably to your homes and businesses. That means much of our costs are fixed costs — like system maintenance and upkeep, labor, fleet, etc.
While the electricity itself is mainly dependent on fuel prices, it is actually very economical. If you'd like to get more technical, check out this article from the April 2018 Co-op News.
Consolidated Balance Sheet
Consolidated Operating Statement
As a not-for-profit, OEC must return any unused margins back to the members we serve — that's you! And it's the reason we consider you members, not customers. We are not in business to make a profit for out-of-state shareholders, we exist solely to provide reliable, safe service to you. YOU are the owners and the reason we do what we do.
We're Here for You
Concern for Community: It's one of a true co-op's seven guiding principles, and one we take seriously here at OEC.
We partner with communities across our seven-county service area to help improve the quality of life in those areas. While we are based in Norman, we don't overlook or forget about our many members who reside in the rural areas. From Amber to Minco and Blanchard to Lexington, we see you, we hear your needs and we love helping your communities thrive.
OEC L.E.A.R.N. | OEC L.E.A.R.N. (Leading, Educating, Advancing and Rewarding the Next generation) is OEC's youth development initiative that encompasses the catalog of youth programs we offer to students, teachers and schools in our service area.
OEC's youth programs in 2020 were highly affected by the global COVID-19 pandemic, as all programs were paused or canceled altogether. Typically, OEC sends four eighth graders to Energy Camp, where they join 80 of their peers across the state to learn about co-ops and develop their leadership skills. We usually also send four high school juniors to Washington, D.C. as winners of our annual Youth Tour contest. Youth Tour, an all-expenses-paid educational trip to the nation's capital, gives participants the opportunity to tour several museums and memorials and visit with Oklahoma's Congressional delegation.
One area we were able to impact students was our one-of-a-kind Get Charged! program, a science-based electricity education curriculum for elementary and middle school students. Get Charged! was developed to meet state STEM (science, technology, engineering and mathematics) requirements and promotes the learning of electricity through science experiments, such as constructing a circuit and a telegraph. Many local teachers took advantage of the specially-designed curriculum and supplies to bring the Get Charged! program to their classrooms when school safely resumed in the fall of 2020.
OEC is committed to lifting up those who need it, and we do so by partnering with other organizations with similar missions. In September, 2020, we joined hundreds of other volunteers through the United Way of Norman's Day of Caring to assist a local nonprofit. You could also find several OEC employees ringing the bell in December for the Salvation Army's Red Kettle campaign and volunteering throughout their communities.
OEC proudly sponsors area robotics and athletic teams, nonprofit organizations' fundraisers and other organizations we feel are working to empower their communities.
OEC's unique Live Line, a high voltage demonstration, educates first responders and citizens on the dangers of electricity and equips them with life-saving knowledge. Certified OEC linemen operate the Live Line as real-life examples are given.
Several area fire departments, law enforcement agencies, emergency management personnel and community leaders witnessed the true power of electricity during demonstrations held safely throughout our service area in 2020 as social distancing measures were in place.
Operation Round Up Disbursements Surpass $5 Million
OEC members who choose to round up their electric bills as part of Operation Round Up® (ORU) each month have a bigger impact than they might realize.
Over the last 25 years, ORU grants have helped nonprofit organizations provide meals, clothes, Christmas gifts and more to their clientele. Local charities are not the only ones that have enjoyed the much-needed grants received from ORU. Countless families and individuals have been approved for requests ranging from dental and vision needs to the construction of handicap accessible ramps, school clothes and supplies, and more.
Over $5 million in needs met by OEC's membership. That's making a difference.
OEC Foundation 2020 Financial Report
In conclusion, we could not be more proud to serve you safe, reliable electricity and provide you innovative energy programs and exceptional member service. Be sure to follow us on Facebook, Twitter and Instagram to stay updated on the latest happenings at OEC. Exciting things are coming, and we look forward to sharing them with you!
