Seventy-one members and their families attended Empire's June 4, 2009 annual meeting in Dove Creek Colorado. All 71 members received a Watt's Cookin' at Empire Electric cookbook and an Energy Efficiency Kit. Members were instantly delighted when they got to sample 20 different hors d'oeuvres from Monticello, Utah based Palmer Catering all originating from the cookbook they just received. Attendees had the opportunity to pedal the Discovery Museum's Solar Roller generator to see how much physical energy from a human being it really takes to generate electricity.

Dove Creek's Mayor pro-tem Dean Schlegel provided a warm welcome for Empire's members and provided a short history of his great uncle Oscar Schelgel's involvement with the cooperative. Oscar helped organize Empire in 1939 and served on the Board of Directors until 1957.

President Bill Bauer reported on the 2008 member survey, what the cooperative is doing to control expenses and the improving profitability of Fast Track Communications, jointly owned by Empire and Durango based La Plata Electric. He also talked about how Empire got started in 1939 and its 70-year non-profit history.

Secretary/Treasurer Lawrence reported on the solid financial performance of the cooperative highlighting key ratios indicating the financial health of the cooperative.

Manager Stephens commented on:

• Cooperative governance, including the 70 year history of the cooperative movement.
• The Colorado Renewable Energy Portfolio Standard mandating Empire to generate, or cause to be generated 5.8 million kWh (1 percent) of its retail electricity sales in Colorado for the year 2008. This mandate continues with 1 percent through 2010, 3 percent through 2014, 6 percent through 2019, and 10 percent for 2020 and thereafter.
• A solar farm idea the board is considering. A member could lease a single photo voltaic panel (PV) or more from a proposed solar farm and receive credit on their electric bill every month rather than erect an expensive 8-panel or 16 panel array on their own roof/property. Empire would pay for and install a complete 8-panel photo voltaic array on Empire's property and wire it into the grid. Members could get involved with renewable energy for an estimated $1,000 to $1,500 initially for a single panel rather than $15,000 to $25,000 for multi-panels in an array configuration. Empire would perform all the future operations, maintenance, and replacement functions rather than the member. When the initial 8 panels are sold, Empire would add more arrays to meet future demand.
• Empire's voluntary green power program. Manager Stephens pointed out that he pays for 4 blocks of 100 kWh of renewable energy from Tri-State for 40 cents per block which equates to 4,800 kWh per year for an additional annual cost of $19.20. His annual residential usage is about 21,000 kWh per year so he offsets about 23 percent of his kWh usage with renewable energy for an additional $19.20 per year. Stephens further pointed out that he could install an equivalent photo-voltaic system for $20,000 to $23,000 to produce the same number of renewable kWhs, but he prefers to stick with his annual payment of $19.20. He encouraged members to take advantage of this program.
• The proposed federal American Clean Energy and Security Act of 2009 pointing out that this is, without question, the most expensive and most serious piece of legislation that the Empire board has seen in decades for rural electric cooperatives and the economy. After discussing that the bill (which is 932 pages long) is intended to create clean energy jobs, achieve energy independence, reduce global warming pollution, and transition to a clean energy economy, members need to be aware of the magnitude of potential costs and that the legislation is on a fast track. If not ultimately signed by the President, it is highly likely that CO2 regulation will be turned over to policy makers at the Environmental Protection Agency. Relative to future rate impacts of CO2 legislation, and using President Obama's budget indicating a $20/ton of CO2 tax, Tri-State has determined that at $20 per ton of CO2, $10.8 million will be extracted from Empire's territory. At $40/ton this would extrapolate to $21.6 million and at $50/ton $27 million. Stephens suggested that members stay in contact with their legislators regardless of their personal belief in global warming.
• Relocating Empire's operations center, clarifying that Empire is not moving its headquarters building. The headquarters will remain at 801 N Broadway and continue to be used for Empire's administrative functions until it is outgrown which is probably decades away. Only the operations portion of the cooperative is slated to move. Also clarified was that about the same amount of money would be spent demolishing and replacing the existing facility at its current location. Stephens said, "We think we can finance this move for under 50¢ per meter per month for the average customer whether Empire rebuilds on site or relocates. To put this into perspective, if the average customer would replace two 100 watt incandescent light bulbs with two 23 watt compact fluorescent light bulbs they would save over 70¢ per month."

Tri-State's Executive VP and General Manager Ken Anderson provided insight on future generation issues, and warned the members that under the proposed federal American Clean Energy and Security Act of 2009, a vast amount of wealth will shift from the Midwestern portion of our county to the east and west coasts. This consequence is derived from an energy sales formula included in the bill that benefits utilities that generate electricity with little or no carbon content, such as hydro and nuclear. Anderson also talked about the problem with the Colorado Public Utilities Commission attempting to regulate Tri-State's resource planning. How would the other 4 states where Tri-State either generates power or sells electricity react to the CPUC asserting regulatory rights? Anderson predicts unfavorably. He discussed Tri-State's involvement in a new 500,000 panel 30 MW PV solar plant in northeast New Mexico. The solar plant will sit on about 1 square mile of land. Anderson noted that the device to convert direct current to alternating current limits the starting capability of large motors. For example, where a 20,000 horsepower motor could start connected to a coal-fired 30 MW generator, it would be difficult to start a 2,000 horsepower motor connected to a 30 MW solar generator.

With over 40 years in the nuclear business, Key Note Speaker Dave Nulton provided general information on demystifying Nuclear Generation. Nulton concludes that:

• Nuclear energy is one of several technology alternatives needed to meet increasing demand for energy, to reduce carbon emissions, and to reduce reliance on imported oil
• New Nuclear plant designs are safe, reliable, cost competitive, and environmentally attractive
• Nuclear also offers advantages in disposing of nuclear weapons materials, some nuclear wastes (actinides), and hydrogen production for a "Hydrogen Economy"

Member questions/comments follows:

• Unrealistic perceptions of Americans relative to where most electricity will come from in 15 years. Colorado Country Life had cited a Bisconti Research Survey indicating that 72 percent of Americans said solar will reign as the top source, followed by wind. Government sources point out that under the most likely scenario, wind will generate just 2.4 percent of our county's energy by 2030 and solar 0.2 percent.
• Where did Empire get its electricity prior to the formation of Colorado Ute? Diesel generators and a division of Utah Power and Light.
• Appreciation for promoting the proper disposal of the older environmentally damaging gases used as refrigerants in energy hogging refrigerators and freezers.
• Suggestion to develop an industrial park in Montezuma County. The board will discuss this.
• Does Empire have $33,697,276 in cash as shown as Reserve funds & investment entry? This represents capital credit allocations from Tri-State and other non-profits Empire does business with. (Allocations are not cash. They are in the form of a promise to pay at some time in the future). Cash on hand is in the $4,000,000 range with annual maintenance, improvement and replacement cash requirements in the $6,000,000 range.
• Suggestion to provide 5th grade education about world-wide electricity use in the future and resources necessary to provide generation. This will be considered.

Vice President David Sitton awarded scholarships to several high-school students attending for the 5-area high schools Empire serves then awarded several adult scholarships. President Bauer pointed out that these scholarships are funded by unclaimed capital credits.

After disbursing several electric certificates to lucky ticket holders, a full-blown energy audit was awarded to the luckiest ticket holder, Mr. Larry Rule of Cortez.