News

By: Brad Castor, President/CEO

Notice is hereby given members of Rich Mountain Electric Cooperative, Incorporated that, in accordance with the provisions of the bylaws of the cooperative, patronage capital for the year 2023 has been credited to the capital account of each member.

The Cooperative’s total margins will be allocated to the residential, commercial/industrial and special contract member-consumer classes based on each classes’ revenues (excluding taxes) less purchase power costs. The factors for the residential, commercial/industrial and special contract member-consumer classes are $0.3129718277, $0.3046125100 and $0.3046125051 per kilowatt-hour, respectively. As an example, if a residential member consumed 12,000 kilowatt-hours in 2023, the amount credited to the member’s patronage capital account for the year is 12,000 x $0.3129718277 or $3,755.66.

Any member who desires specific information regarding the amount credited to his patronage capital account may obtain this information on request. This notice is only a statement regarding the assignment of patronage capital.