Going where good planning takes us

Staying on course … A GRDA truck follows along a transmission line right-of-way in Delaware County. Following the right path to the future has always been important to GRDA, whether that involves building new facilities, developing new efficiencies or working to maintain a solid financial footing.

A possible bond issue, to take place a little late this year, was an important topic of conversation at the September 14 meeting of the Grand River Dam Authority Board of Directors.

Of course, bond issues are nothing new for GRDA. The organization has relied on this funding source to construct and acquire the assets it uses to produce abundant and reliable power for Oklahoma. Just a couple of years ago, a very successful GRDA bond issue was completed to secure the funds now being used to build the new 495 megawatt (MW) natural gas combined cycle generation plant. Located at the Grand River Energy Center – first constructed as the Coal Fired Complex with bond funds in the early 1980s – the new gas generator is expected to begin operations in mid-2017.

It’s true that GRDA bonds have always been well-received in the state. At one time, Oklahomans in 76 of 77 counties held a combined $272 million in GRDA bonds. However, GRDA paid off $200 million of those bonds in August 2012.

Still, not all bond issues are done for new construction. The latest being considered would be done primarily for refinancing purposes; to save GRDA and its rate-payers money in the future. In other words, it is similar to a homeowner refinancing their mortgage. 

Of course, for GRDA, the ultimate goal is to remain as efficient as possible. That means keeping rates very competitive while always providing abundant and reliable electricity to customers and caring for the natural resources under its control. 

Good planning has always made it happen in the past and good planning will get us there tomorrow as well.

Headquartered in Vinita, GRDA is Oklahoma’s state-owned electric utility; fully funded by revenues from electric and water sales instead of taxes. Each day, GRDA strives to be an “Oklahoma agency of excellence” by focusing on the 5 E’s: electricity, economic development, environmental stewardship, employees and efficiency. 

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