Tri-County Electric Cooperative has been formally recognized for a year filled with success in improving the Cooperative’s financial health.

In its audit of TCEC’s recent financials, auditor Baker Tilly provided an “unqualified” opinion, the most favorable opinion an auditor can give.

This opinion comes after the decisive actions by TCEC’s new leadership team, in its first year together, to stop the Cooperative’s historic financial bleeding and set it on a path toward long-term success.

This progress was accomplished while at the same time:

• A five-year power supply agreement was established, shielding members from extreme swings in the wholesale market
• TCEC’s line of credit decreased over a 12-month period for the first time since its inception 5 years ago
• The Cooperative ended last fiscal year with less debt than the year prior, with more progress to come. A projected $60 million more in debt reduction is expected through the sale of underutilized assets through the current fiscal year
• TCEC refinanced three of its eight loans related to Winter Storm Uri debt, saving the Cooperative millions in interest while ensuring it meets its loan obligations
• TCEC ended the practice of subsidization for new members, responsible for a $240 million increase in total debt
• The Cooperative made changes to its line crew material supplier and employee medical insurance provider, resulting in millions in savings

“From its first day together, it was clear that this TCEC leadership team was ready to tackle the financial challenges in front of it. This most favorable opinion from Baker Tilly represents the hard work, perseverance, and dedication to get to where the Cooperative stands today. Tri-County is thriving and there will be plenty more success to celebrate in the months to come,” said TCEC President and CEO Scott Spence.

Read more on the Cooperative’s latest accomplishments in its 2025 Mid-Year Review and 2024-2025 Annual Report, available now on the TCEC website.