| THE BOTTOM LINE |
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Mecklenburg Electric Cooperative is
consumer-owned and not-for-profit. That means any revenue
above expenses is eventually returned to the member in the
form of capital credit payments.
Mecklenburg Electric
Cooperative is committed to providing the best possible
service at the lowest possible cost. We take pride in our
cooperative -- a grassroots system of service started by
pioneers like those who settled this area. Keeping the cost of
electricity affordable helps keep local businesses
competitive, while preserving our rural heritage and standard
of living.
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| THE BOARD ROOM |
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As a member of Mecklenburg Electric Cooperative,
the consumer has a direct voice in the operation of the cooperative.
He/She elects the board of directors and votes on business matters
at the annual meeting.
The directors and management of
Mecklenburg Electric Cooperative have a genuine interest in
the membership. After all, directors receive their electricity
from the cooperative, too.
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| A PHILOSOPHY OF SERVICE |
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Cooperatives were the
first to serve rural areas. They were formed when IOUs refused
to serve sparsely populated areas. Because IOUs were/are profit
motivated, they didn't see the value of serving rural and
suburban areas.
Cooperatives are involved in their
communities. We live here, too, and we take an active interest in
bettering our communities through involvement in local
schools, civic clubs and business organizations.
Electric cooperatives help each other. Mecklenburg
Electric Cooperative is one of hundreds of co-ops across the
country providing electricity and other services to rural and
urban America. When a major storm or other disaster forces an
outage, neighboring cooperatives often come to the rescue,
providing their equipment and personnel to get the power back
on fast.
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| HURDLES MECKLENBURG
ELECTRIC FACES |
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We have to provide
electricity at a price competitive with IOUs while
constructing and maintaining thousands more miles of
distribution lines. Mecklenburg Electric Cooperative has an
average of six consumers per mile, compared to an average of 34
per mile for an IOU and 50 for a municipal.
We have
fewer large industrial and commercial consumers than IOUs. Our
revenue comes from serving many small accounts, like homes, farms
and communities.
Our consumers are mainly residential,
creating a low load factor. Our power demand can skyrocket
depending on the time of year. That's why Mecklenburg Electric
Cooperative works hard to level out its load factor.
Innovation and creativity have always been a part of
the cooperative system. Despite our low population density and
higher cost of bringing electricity to rural America, we
continue to work to maintain stable rates. That's our
commitment to our member-owners.
There is something
different about receiving your electricity from Mecklenburg
Electric Cooperative. We think it's a difference our
membership can be proud of.
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The Seven Guiding Principles of Cooperatives
Today's
cooperatives have their beginnings in the founding of an early
cooperative that was started in Rochdale, England, in 1844 by
a group of weavers. Because these early cooperative pioneers
put their organizing principles down in writing, the legacy of
this early cooperative lives on. These principles are
guidelines by which all cooperatives put their values into
practice. The following principles were reaffirmed and adopted
at the 1995 General Assembly of the International Cooperative
Alliance (ICA), held in Manchester, England, to mark the
Alliance's 100th Anniversary.
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Voluntary and Open
Membership
Cooperatives are voluntary organizations,
open to all persons able to use their services and willing
to accept the responsibilities of membership without gender,
social, racial, political, or religious discrimination.
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Democratic Member Control
Cooperatives are
democratic organizations controlled by their members, who
actively participate in setting policies and making
decisions. The elected representatives are accountable to
the membership. In primary cooperatives, members have equal
voting rights (one member, one vote) and cooperatives at
other levels are organized in a democratic manner.
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Members' Economic Participation
Members
contribute equitably to, and democratically control, the
capital of their cooperative. At least part of that capital
is usually the common property of the cooperative. Members
usually receive limited compensation, if any, on capital
subscribed as a condition of membership.
Members
allocate surpluses for any or all of the following purposes:
developing the cooperative, possibly by setting up reserves,
part of which at least would be indivisible; benefiting
members in proportion to their transactions with the
cooperative; and supporting other activities approved by the
membership.
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Autonomy and Independence
Cooperatives are autonomous self-help organizations
controlled by their members. If they enter into
agreements with other organizations, including
governments, or raise capital from external sources,
they do so on terms that ensure democratic control by
their members and maintain their cooperative autonomy.
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Education, Training and
Information Cooperatives provide education and
training for their members, elected representatives,
managers and employees so they can contribute effectively to
the development of their cooperatives. They inform the
general public, particularly young people and opinion
leaders, about the nature and benefits of cooperation.
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Cooperation Among Cooperatives
Cooperatives
serve their members most effectively and strengthen the
cooperative movement by working together through local,
national, regional and international structures.
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Concern for Community
While focusing on member
needs, cooperatives work for the sustainable development of
their communities through policies accepted by their
members.
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Statistics as of December 31, 2008 |
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Membership |
25,842 |
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Number of Active Services |
31,393 |
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Number of Substations |
23 |
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Miles of Distribution Line Overhead Underground |
4,178.87 190.22
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Miles of Transmission Line |
17.61 |
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Total Miles of Line |
4,386.70 |
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Services Per Mile of Distribution Line |
7.16 |
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Kilowatt-hours Purchased |
580,221,024 |
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Kilowatt-hours Sold |
546,360,437 |
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Average Residential KWH/month |
968 |
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Average Member Service Reliability (%) |
99.93 |
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NCP Peak Demand (KW) -
December |
133,980 |
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Annual Revenue |
$63,576,438 |
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Revenue Per Mile of Line |
$14,493 |
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Expense Per Mile of Line |
$14,510 |
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Net Utility Plant |
$96,277,370 |
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Equity (%) to Assets |
33.90 |
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TIER |
1.30 |
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Debt Service Coverage |
1.46 |
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Taxes Paid: Property Other |
$438,632
$608,866
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Average Investment Per Service to Date |
$4,400 |
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Number of Full-time Employees |
128 |
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Load Management Switches in Place |
6,685 |
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Deferred Wholesale Power Costs through Load Management for 2008 |
$476,843 |
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MEMBERS (by County) |
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Brunswick |
3,652 |
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Mecklenburg |
9,804 |
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Charlotte |
1,142 |
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Pittsylvania |
6,621 |
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Greensville |
3,162 |
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Southampton |
369 |
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Halifax |
4,880 |
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Sussex |
158 |
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Lunenburg |
379 |
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Other |
122 |
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SCHEDULE OF FEES/CHARGES
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Service Charge |
$40 |
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Collection Fee |
$35 |
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Reconnect/Service Charge (after hours) |
$170 |
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Service (less than 60 days) |
$95 |
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Construction Power Charge (Temporary) |
$70 |
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Return Check Service Charge |
$25 |
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Late
Payment Charge |
1-1/2% per month |
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Deposits (security) |
Two
months billing estimated |
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