Electric cooperatives stand out from other types of businesses because we are built and led by the communities we serve. As independent, not-for-profit electric utilities, we are owned and governed by our local members – not by outside shareholders or investors. That is a powerful differentiation.
Here are a few ways electric co-ops like REC bring unique value to the local communities they serve:
• We put people before profits. Co-ops are not-for-profit and provide at-cost electric service. Any excess revenue is returned to our consumer-members in the form of capital credits, typically as a bill credit.
• Community comes first. We live and work here too, and we care deeply about our local communities. Which is why we engage in development and revitalization projects, sponsor local students for scholarships and youth programs and give back to local organizations to help our neighbors in need.
• Affordable, reliable power is our priority. REC purchases electricity from Western Farmers Electric Cooperative, our wholesale energy partner. WFEC is a generation and transmission cooperative formed by a group of electric co-ops in our state. This cooperative business structure allows us to pool local resources and provide electricity at a lower cost than if we purchased it from outside sources.
As a new year begins, we are focused on our members’ energy needs – not only for today but for the long haul. We are advocating for smarter energy policies which prioritize reliability and affordability for all. We recognize we must be inclusive of all energy sources, which is why we work closely with WFEC to ensure use of a diverse mix of sources, including coal, natural gas, solar, wind and hydro to generate the electricity we provide to our members.
REC is working to power a brighter future through innovation which will meet tomorrow’s energy needs.
Reliable, affordable electricity is more important than ever before, and our focus will continue to be the best interest of the local communities we serve. To learn more about REC, visit our website at www.recok.coop.