History

Northern Colorado in the 1960s was poised on the brink of change. From the individual homeowner to the industrial giant, times were changing. Towns and cities were swept up in social revolution as members of a large, new demographic segment called "babyboomers" freely voiced their opinions and desires. Changing, too, was the way cities and towns in Colorado were supplied with the basics - water and power.

Platte River Power Authority evolved from the Platte River Municipal Power Association, a consortium of 31 municipalities created on December 28, 1965 by Stan Case, then director of Fort Collins City Utilities. Each PRMPA municipality had a contract with the U.S. Bureau of Reclamation, which provided hydroelectric power from the Colorado River and Missouri Basin and each one wanted to protect its interest in the energy the Bureau promised to deliver. Case helped PRMPA members understand the ramifications of the Bureau’s 1960s announcement that there would be no new long-term energy power projects and the Bureau would not be able to fully supply Colorado's energy needs beyond the mid-1970s. The towns and cities would have to find new energy resources.

Four municipalities out of the original 31 banded together in 1973, to create a jointly-owned economically self-sustaining not-for-profit electric utility. This action took the help of the Colorado legislature and the voters in the state. Estes Park, Fort Collins, Longmont, and Loveland looked to Platte River to provide supplemental power beyond their federal hydropower interests. After a period of time, the four owner municipalities came to depend on Platte River to provide the affordable, reliable electricity their citizens had come to rely upon.

Our power plants, Rawhide (on-line in 1984) and a percentage ownership of Craig Units 1 and 2 (of the Yampa Project), continue performing at a high level of efficiency. We've made additions, improvements and modifications over the years of commercial operation. We've also added wind energy, among others, to our sources of electricity.

Policies and decision governing our operations are made by our Board of Directors, not by federal or state commissions. Originally, the Board numbered four -- one from each owner municipality. In 1980, the Board was expanded to two members from each municipality -- the mayor and utility director (or their designees). As a result of this governance model, Platter River is uniquely able to respond to community needs, build on community strengths and advance community values.

From our very beginning, we've had a positive reputation on Wall Street. Largely due to the uncompromising personality of Platte River's first General Manager Mr. Albert J. Hamilton, a capital-raising trip to New York resulted in Platte River becoming the first "nonprofit joint-action agency" in the United States to issue revenue bonds through negotiated sale. That was in 1975. Currently, Platte River's long-term debt carries the highest ratings given to joint action agencies by the three rating agencies; Standard & Poor's Financial Services, Moody's Investor Service, Inc. and Fitch Ratings.

Although many things have changed through the years, Platte River and its dedicated staff continue the traditions and commitments made those many years ago. At the same time, we’ve evolved to meet the changing needs of our four owner communities.

As the number of years add up, we view them as just the beginning of a lifetime of commitment to public power.

Timeline
December 28, 1965		Creation of Platte River Municipal Power Association
July 26, 1973		Platte River commences revenue producing power operations
September 1973		Platte River Power Authority commences operation as a non-profit corporation
January 1, 1974		Platte River's wholesale rate was $1.64 per kilowatt of demand and 3.75 mills per kwh
November 29, 1974		Amendment 4 to theColorado State Constitution is passed. Platte River can now own energy projects with others
May 20, 1975		Colorado House Bill 1666 becomes law with Platte River becoming a policitical subdivision of the state. Organic Contract is signed by the four member municipalities.

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