Concho Valley Electric Cooperative

What Concho Valley Electric Cooperative does

Concho Valley Electric Cooperative (CVEC) is a member-owned, not-for-profit electric distribution cooperative founded in 1940 under the Rural Electrification Act and headquartered at 2530 Pulliam Street in San Angelo, Texas. It distributes electricity across approximately 4,372 miles of line covering 4,175 square miles in ten west-central Texas counties (Tom Green, Coke, Concho, Sterling, Mitchell, Nolan, Runnels, Glasscock, Irion, and Reagan), serving more than 7,592 members and 15,398+ connected meters. Its core service is regulated electric distribution, augmented by CVEC Connect fiber-to-the-home internet (100 Mbps to 1 Gbps tiers), community solar (The Agnes Project), and member solar/wind interconnections.

The cooperative's technology stack centers on AMI smart meters, fully operational automated meter reading with GPS markers, a 24-hour dispatch center with digital radio coordination, and a fiber-optic backbone. Member-facing platforms include SmartHub (web and mobile account management, bill payment, usage, outage reporting, redesigned in February 2024) and CommandIQ for fiber-internet subscribers. Core technology differentiators are integration (SmartHub tying billing, payments, and outage reporting together) and fiber performance (claimed up to 20x cable speeds).

CVEC operates as a cooperative on a subscription-recurring revenue model: members pay monthly electric and internet tariffs, and any annual margins are allocated back as capital credits rather than retained for shareholders. Its 2021 revenue was $44.4 million against $40.1 million in expenses (purchased power of $24.5 million was the largest line), with $125 million in total assets and $59.3 million in member equity. Power supply is sourced through membership in the Golden Spread Electric Cooperative generation-and-transmission cooperative (joined 2003), and CVEC is affiliated with Texas Electric Cooperatives and the National Rural Electric Cooperative Association for training, safety accreditation, and youth programs.

Name

Concho Valley Electric Cooperative

Legal name

Concho Valley Electric Cooperative, Inc.

Website

https://cvec.coop

Company type

Private

Founded year

1940

Operating status

Operating

Headcount range

51–100 employees

Short description

Concho Valley Electric Cooperative is a member-owned, not-for-profit electric distribution cooperative in west-central Texas, serving 7,592+ members across 10 counties with electricity, fiber-to-the-home internet (CVEC Connect), community solar, and SmartHub account services from its San Angelo headquarters.

Ownership category

akta.pro rank

Product category

Rural Electric Cooperative Distribution

NAICS

Electric Power Distribution (221122), Electric Power Transmission, Control, and Distribution (22112), Solar Electric Power Generation (221114), Electric Power Generation, Transmission and Distribution (2211)

SIC

Electric Services (4911), Electric & Other Services Combined (4931)

akta.pro primary industry

Electric Cooperatives (Rural/Member-Owned Utilities) (EUADABAC)

akta.pro secondary industries

Community Microgrids & Shared Distributed Generation (EUACALAC), Distributed Generation (DG) Solar & Small Wind (EUAMAJAD), Retail & Community PPAs (Community Solar/Shared Renewables) (EUAGADAC)

Keywords

• Rural electric distribution
• Fiber-to-the-home internet
• Electric cooperative utility
• Community solar subscriptions
• Smart meter AMI

Headquarters

HQ city

San Angelo

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Supply Chain, Infrastructure, Personnel, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Electric Service: Core revenue from providing electric distribution service to residential and commercial members. Operates as not-for-profit cooperative where margins are allocated as capital credits to members.
2. Fiber Internet Service (CVEC Connect): High-speed internet service delivered via fiber-to-the-home network. Multiyear expansion project targeting underserved areas in Texas.
3. Community Solar: The Agnes Project - community solar farm allowing members to participate in renewable energy without installing individual solar systems.
4. Capital Credits: As a cooperative, margins (profits) are allocated annually to members based on kilowatt hours purchased. Board decides annually how much to retire, typically returning capital credits to members.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels8 records

Core offering

Concho Valley Electric Cooperative distributes electricity to residential and commercial members across 4,372 miles of line in ten west central Texas counties under a not-for-profit cooperative model. It has expanded into fiber-to-the-home broadband internet (CVEC Connect) at speeds from 100 Mbps to 1 Gbps, community solar subscriptions (the Agnes Project), and member-interconnected solar and wind generation programs.

Product overview

Concho Valley Electric Cooperative operates as a consumer-owned, not-for-profit electric utility offering a diversified portfolio of energy and connectivity services. The core offering is electric distribution service across west central Texas. The cooperative has expanded into broadband internet via its CVEC Connect Fiber Internet service, a true fiber-to-the-home network offering speeds from 100 Mbps to 1 Gbps. Member-facing digital platforms include SmartHub (account management, bill payment, outage reporting) and CommandIQ (for fiber internet management). Energy programs include community solar (the Agnes Project), solar/wind system interconnection, and the Value Incentive Plan for energy efficiency. As a cooperative, it operates on a not-for-profit basis with annual capital credit retirements to members. The organization also invests in community through scholarship programs and youth leadership initiatives.

Differentiator

Problem solved

Functional benefit

Products and services

• Electric Distribution Service Reliable electric distribution service providing electricity to residential, commercial, and agricultural members across 4,175 square miles in ten counties of west central Texas, with outage reporting, account management, and 24-hour dispatch support.
• CVEC Connect Fiber Internet High-speed fiber-to-the-home internet service for members, with subscription plans ranging from 100 Mbps to 1 Gbps, member-owned fiber network, and CommandIQ mobile app for service management.
• SmartHub Member Portal Online account management platform and mobile app enabling members to make payments, view bills, sign up for autopay and paperless billing, view energy usage, and report outages via web or mobile.
• Community Solar (The Agnes Project) Community solar farm subscription program letting members participate in renewable energy without the long-term commitment of installing rooftop solar for their home.
• Solar & Wind System Interconnection Distributed generation program for members installing solar arrays or wind systems, including interconnection agreement, applicable rates, and grid safety requirements.

Quantifiable outcome

• 80% of members surveyed were in favor of internet services
• +2 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Five partnerships are on record, tiered minor and core.

• Lighthouse Electric CooperativeminorStrategic or Co-development Partner · 1 January 2021Sister cooperative assisted after severe ice storm. CVEC crews helped set more than 1,100 poles and replace 1,500 crossarms over 1,300 square miles.
• Golden Spread Electric CooperativecoreStrategic or Co-development Partner · 1 January 2003Generation and transmission cooperative partnership providing affordable and reliable power supply. CVEC joined Golden Spread EC in 2003. Golden Spread is owned by 16 member cooperatives and supplies power to CVEC. Members share in capital credits. GSEC also supports community initiatives including VFD donations.
• Texas Electric Cooperatives (TEC)coreStrategic or Co-development PartnerStatewide association representing electric cooperatives in Texas. Organizes Youth Tour program, provides safety training and awards, and coordinates cooperative efforts.
• National Rural Electric Cooperative Association (NRECA)coreStrategic or Co-development PartnerNational organization representing electric cooperatives. Provides director training and credentials, coordinates Youth Tour program nationally, and sets safety standards.
• AirMedCare NetworkminorOthersCommunity partnership providing air medical transport network services available to CVEC members.

Scale indicators9 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Bluebonnet Electric Cooperative: Texas electric cooperative serving members across 14 counties with electric distribution, fiber internet, and community solar offerings. Highly comparable member-owned cooperative model with similar product portfolio.
• Pedernales Electric Cooperative: Largest electric distribution cooperative in Texas, serving a wide rural territory across Central Texas. Directly comparable as a member-owned distribution cooperative with fiber broadband (PECNet) and renewable energy programs.
• Central Texas Electric Cooperative: Member-owned electric distribution cooperative serving rural areas in the Texas Hill Country and surrounding counties. Comparable in geographic scope, member base size, and cooperative governance model.
• Cherokee County Electric Cooperative: Texas electric cooperative serving rural east Texas with electric distribution and broadband services. Similar member-owned structure, scale, and product diversification strategy.
• Heart of Texas Electric Cooperative: Texas electric cooperative serving rural central Texas members with electric distribution and broadband services. Comparable scale, member-owned cooperative structure, and rural service territory.
• Guadalupe Valley Electric Cooperative: Texas electric cooperative offering electric distribution, fiber internet (GVEC.net), and renewable programs in a similar rural Texas footprint. Directly comparable in business model and service mix.
• Deep East Texas Electric Cooperative: Texas electric cooperative providing electric distribution and fiber internet to rural east Texas members. Directly comparable in business model and rural broadband strategy.
• Mid-South Synergy: Texas electric cooperative providing electric distribution and fiber internet services to members in rural Brazos Valley region. Closely aligned member-owned cooperative business model with similar geographic scope.

Others

• Touchstone Energy Cooperatives: National alliance brand for electric cooperatives including CVEC. Relevant as the cooperative network/ecosystem organization providing shared branding, services, and operational support to CVEC.

Broad incumbents

• Golden Spread Electric Cooperative: Generation and transmission cooperative that supplies wholesale power to CVEC and 15 other Texas member co-ops. Comparable as a Texas cooperative ecosystem player, but operates upstream in generation rather than distribution.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/cvecelec
• Facebookfacebook.com/concho.valley.electric.cooperative
• LinkedInlinkedin.com/company/cvec

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Concho Valley Electric Cooperative