Chief Financial Officer

VALLEY ELECTRIC ASSOCIATION, INC. CHIEF FINANCIAL OFFICER

Valley Electric Association, Inc. (Valley) is a forward?thinking, member?owned electric cooperative headquartered in Pahrump, Nevada, serving more than 6,800 square miles across Nevada and a portion of California. Far from a traditional rural utility, Valley has distinguished itself as an industry innovator by becoming the first out?of?state utility to join the California Independent System Operator (CAISO) and a participating transmission owner since 2013.

This milestone reflects the cooperative’s commitment to modern grid integration and strategic regional partnerships.

Valley’s unique structure includes three wholly owned subsidiaries including Valley Electric Transmission Association (VETA), Valley Communications Association (VCA), and Sol Power, which create a diversified enterprise that operates across electric distribution, transmission, broadband, and solar services. This integrated model allows Valley to innovate rapidly, invest in new technologies, and bring advanced infrastructure to rural communities that traditionally face limited options. With $110 million in operating revenues, $353 million in assets, and a dedicated workforce of 150 employees, Valley serves as both an essential service provider and a community partner.

As Touchstone Energy Cooperative members, Valley and VCA maintain a strong focus on integrity, accountability, and community impact - values reflected in the fact that Valley’s employees live, work, and invest in the same communities they serve.

Established in 1965 as an electric cooperative, Valley provides service to more than 45,000 people within a vast 6,800 square-mile service area located along the Nevada-California border. Power supply is purchased through a power purchase agreement with Townsite Solar, LLC, a division of Arevon Energy, Inc., and other suppliers. Valley has been involved in power interchange activity with a California Utility Association for several years.

Valley also invested in an 80-acre, 15 MW Vista Solar Project north of Pahrump.

At Valley, innovation is a cornerstone of their path to future success. Valley is the parent of three wholly-owned subsidiary companies, created to serve members by focusing on service niches. Valley Electric Transmission Association, Inc. (VETA) is a wholly owned subsidiary of Valley. VETA was formed in 2011 to construct, maintain, and operate transmission facilities previously owned by Valley. Valley transferred all transmission plant and related work-in-progress to VETA, along with all long-term debt associated with those assets.

VETA is currently constructing transmission lines in various areas of Nevada and provides transmission services as a participating transmission owner and operator in the California ISO.

Established in 2015, Valley Communications Association (VCA) provides high-speed fiber- optic and wireless broadband to underserved rural, remote communities in Valley’s service area. VCA’s long-term goal is to expand modern broadband to rural communities of Nevada. VCA currently provides service to more than 10,500 subscribers.

Sol Power by Valley Electric Association is Valley’s own solar company. Sol Power is committed to supporting members through maintenance and service of existing solar systems but is not currently accepting new Sol Power applications.

Valley offers strong reliability and safety performance. The utility experienced no lost- time accidents in over five years and exceeded 1.8-million-man hours without a lost- time or recordable injury. The Cooperative’s SAIDI and SAIFI statistics are 39 and 0.63, respectively.

In May of 2022 Valley increased their base service charge; in January of 2023, they increased rates; and in May of 2023 Valley implemented a Power Cost Adjustment pass through. Currently, Valley’s equity is 30% to 31% and their Debt Service Coverage Ratio is 1.7 to 1.8.  for more financial information.

PAHRUMP, NEVADA

Pahrump is a rural desert community located 60 miles west of Las Vegas, Nevada, and an hour east of Death Valley National Park. The town is surrounded by the Spring Mountain range to the east and the Nopah…