2007 Annual Report

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Golden Spread Electric Cooperative, Inc. is a tax-exempt, consumer-owned public utility, organized in 1984 to provide low cost, reliable electric service for its rural distribution cooperative members. Its 16 member systems serve approximately 205,000 retail consumers located in the Panhandle, South Plains and Edwards Plateau Regions of Texas, an area covering 24 percent of the state, and in the Panhandle of Oklahoma and in Southwestern Kansas.

Golden Spread operates in the Southwest Power Pool and the Electric Reliability Council of Texas. Golden Spread owns directly or through its two operating affiliates 550 megawatts of generating capacity and controls the output of 240 megawatts of additional capacity under a power purchase agreement. In addition, Golden Spread will purchase up to 680 megawatts of capacity and energy from various suppliers in 2008. GS Electric Generating Cooperative, Inc. was formed by Golden Spread in 1996 as a nonprofit wholly-owned affiliate to develop and own generating facilities and sell power to Golden Spread. GSEGC, is a 50 percent owner of the 480 megawatt Mustang Station, a gas-fueled, combined cycle generating plant located near Denver City, Texas. Yoakum Electric Generating Cooperative, Inc. was formed in early 2005, also as a nonprofit wholly-owned affiliate, for the purpose of owning generating facilities and selling power to Golden Spread. Yoakum owns two 152 megawatt combustion turbine-generating units. Golden Spread constructed both units placing the first in service in 2006 and the second in service in 2007. Golden Spread transferred both generating units and related facilities to Yoakum in 2007.

About Our Name: The name "Golden Spread" had its beginnings in 1954 and has since been used extensively to describe a large portion of the area served by our member systems. The word "Golden" was chosen to represent the area´s abundant sunshine and wide expanses of waving fields of grain, and "Spread" was selected as an appropriate reference to the large ranch holdings predominant throughout the area.