Oglethorpe Power
| Company type | Not-for-profit cooperative |
|---|---|
| Industry | Electric utility |
| Founded | 1974 |
| Founder | 39 Electric Membership Corporations (EMCs) |
| Headquarters | Tucker , United States |
Area served | Georgia, United States |
Key people | Annalisa M. Bloodworth (CEO and President), Elizabeth B. Higgins (CFO and Executive Vice President), William F. Ussery (Executive Vice President, Member Relations), Heather H. Telihet (Executive Vice President, External Affairs), Rich D. Wallen (COO and Executive Vice President), Jami G. Reusch (Senior Vice President, Human Resources), Suzanne N. Roberts (General Counsel and Senior Vice President) |
| Products | Electric power generation and transmission |
| Website | www |
Oglethorpe Power Corporation is a mid-sized electric utility company headquartered in Tucker, Georgia, providing services to 38 electric membership corporations (EMCs) throughout the state of Georgia. Established in 1974 as a not-for-profit cooperative, ownership resides with the EMCs it supplies.
History
The establishment of EMCs in Georgia traces back to 1935 when the Rural Electrification Administration (REA) offered loans for constructing rural transmission infrastructure. This initiative enabled EMCs to procure electricity. In 1974, 39 EMCs came together to form Oglethorpe Power Corporation, aiming to invest in power generation and transmission assets.
In 1996, Oglethorpe entered into a 15-year contract valued between $4 and $5 billion with LG&E, a Kentucky-based coal-fired power producer, securing approximately half of its electricity supply at a fixed rate.
By 1997, Oglethorpe reorganized into three distinct cooperatives: Oglethorpe Power Corporation focusing on generation; Georgia Transmission Corporation managing transmission lines and substations; and Georgia System Operations Corporation providing system operations and administrative support.
In 2008, the company revealed plans to develop two woody biomass power plants, each with a capacity of 100 megawatts, intended to deliver nearly half of Georgia’s population with carbon-neutral energy.
The 2017 bankruptcy of Westinghouse, a major supplier of nuclear reactors, placed Oglethorpe Power at the forefront of national challenges impacting the U.S. nuclear industry.
Activity
Oglethorpe Power stands as the largest power supply cooperative in the United States by both asset size and annual kilowatt-hour sales, covering about 65% of Georgia’s territory. It holds joint ownership in several facilities alongside Georgia Power, the state's leading electricity provider, as well as the Municipal Electric Authority of Georgia.
With revenues reaching $1 billion and assets surpassing $7 billion as of 2011, Oglethorpe serves an estimated 4.1 million consumers. Its energy generation portfolio in 2009 consisted roughly of 24% coal, 47% natural gas, 19% nuclear, and 10% hydroelectric sources.
The cooperative owns 817 megawatts out of the total 1,095-megawatt capacity at the Rocky Mountain Hydroelectric Plant, a pumped-storage facility that helps balance electricity supply by storing energy during periods of low demand and generating power during peak times. Its nuclear generation stems from partial stakes in both the Edwin I. Hatch Nuclear Generating Station and the Alvin W. Vogtle Electric Generating Plant. Additionally, Oglethorpe holds partial ownership in two coal-fired plants, full control over three combined-cycle plants, and several gas turbine facilities.
Oglethorpe maintains a 30% ownership interest in the construction of two new AP1000 nuclear reactors at Vogtle, backed by $3 billion in loan guarantees from the United States Department of Energy. In 2018, it requested further loan guarantees to address cost overruns associated with the project. The primary partner, Georgia Power, committed to covering any expenses exceeding $9.2 billion necessary for project completion.
Governance
The corporation's board comprises directors and managers drawn from Electric Membership Cooperatives (EMCs), along with an independent board member. Executive management includes a President and CEO supported by Executive and Senior Vice Presidents.
Leadership
| Annalisa M. Bloodworth | Chief Executive Officer and President |
| Elizabeth B. Higgins | Chief Financial Officer and Executive Vice President |
| William F. Ussery | Executive Vice President, Member Relations |
| Heather H. Telihet | Executive Vice President, External Affairs |
| Rich D. Wallen | Chief Operating Officer and Executive Vice President |
| Jami G. Reusch | Senior Vice President, Human Resources |
| Suzanne N. Roberts | General Counsel and Senior Vice President |
Board of directors
| Marshall S. Millwood | Chairman, Sawnee EMC |
| James I. White | Vice Chairman, Snapping Shoals EMC |
| George L. Weaver | Central Georgia EMC |
| Ronnie Hendricks | Upson EMC |
| Fred A. McWhorter | Rayle EMC |
| Ernest A. “Chip” Jakins III | Jackson EMC |
| Jeffrey W. Murphy | Hart EMC |
| Sam Simonton | Walton EMC |
| Danny Nichols | Colquitt EMC |
| Horace H. Weathersby III | Planters EMC |
| Jimmy G. Bailey | Diverse Power |
| Chris Stephens | Coweta-Fayette EMC |
| Kevin Bush | Director, Outside Member |
References
External links
- Articles with short description
- Oglethorpe Power
- Electric generation and transmission cooperatives in the United States
- Electric cooperatives in Georgia (U.S. state)
- Companies based in Tucker, Georgia
- Energy companies established in 1974
- Non-renewable resource companies established in 1974
- Energy in Georgia (U.S. state)
- Cooperatives based in Georgia (U.S. state)