GRDA Board approves 2022 budget

Dec 16, 2021

For the sixth straight year, the Grand River Dam Authority has approved a budget that includes no rate increases over the next 12 months. The GRDA Board of Directors approved the 2022 budget at its December 14 meeting in Tulsa.

GRDA plans to keep base rates level by continuing to pursue greater efficiencies in all areas of its operations, while retaining key employee talent. Other goals for the 2022 budget include continued efforts to efficiently utilize and leverage cash reserves to fund capital projects and increase major maintenance activities.

“We are excited to enter our sixth straight year without a base rate increase,” said GRDA President and Chief Executive Officer Dan Sullivan. “Efficient operations and the continued productivity of our workforce, even through the challenges of the pandemic, have been key.”

GRDA Board Chairman Dwayne Elam echoed Sullivan’s comments, saying the budget puts GRDA in a strong position to meet its goals in the year ahead, while also giving its customers the assurance that rates will remain consistent. “It continues to reflect GRDA’s commitment to greater efficiency and responsiveness to customer needs.”

The new budget will also allow GRDA to pursue some goals that were delayed in 2020 and 2021 due to the pandemic. An expansion of customer programs and a possible refunding of existing debt are among those goals.

GRDA is Oklahoma’s largest public power 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.