Rappahannock Electric Cooperative (REC) held its Annual Meeting for members Saturday, Aug. 13, at Liberty High School in Fauquier County. Members had the opportunity to participate in the Cooperative’s democratic process by meeting and voting on the candidates for the Board of Directors and to address questions to REC’s management.
Members re-elected, by acclamation, for three-year terms were William M. Alphin, A. Nash Johnston and Richard C. Oliver. Addressing members, Board Chairman Richard C. Oliver said, “As elected representatives of all members, we take the information on REC’s business operations, goals and objectives and help shape the direction of our Cooperative for the future. It is every member’s participation and commitment that makes our Cooperative successful year after year.”
Oliver was elected to the REC Board of Directors in 1996 . In addition to serving as the current Chairman of the Board, he has served in each officer’s position. William M. Alphin and A. Nash Johnston collectively have over 60 years of experience representing the member-owners of REC. Both have served on various board committees and in leadership positions.
Members also received a general business update from President and CEO, Kent D. Farmer. Addressing members, Farmer said, “In 2010, we successfully integrated over 50,000 new member-owners that were previously served by Allegheny Power into the Cooperative, which increased the total number of REC meter connections by 50 percent. The transition has gone even better than expected, and all of the Cooperative’s members are benefitting from the synergies and operational efficiencies that have been achieved.”
Farmer discussed in detail the Cooperative’s focus on power supply, which is the cost to generate electricity that represents roughly 75 cents out of every dollar of members’ electric bills. Farmer explained how uncertainty in the electricity markets âˆ’ which is caused by new environmental regulations, potential new federal laws and the growing demand for electricity âˆ’ is putting upward pressure on the prices for electricity that REC purchases from its wholesale power supply cooperative to serve its members. According to Farmer, all cost-effective options will need to be part of a diverse future portfolio of resources that the Cooperative will rely upon to serve members’ needs, including natural gas, renewable generation and energy efficiency.
He concluded the meeting by stating, “We realize that your electric bill makes up a significant portion of your expenses, and your Board of Directors and management team are focused on doing all that we can to make sure you, and future REC members, continue to have reliable, reasonably priced power produced in an environmentally friendly manner.”
The Liberty High School site in Fauquier County was the new location for the 2011 Annual Meeting. Members and guests enjoyed a catered breakfast and viewed exhibits about the Cooperative’s reliability, safety, efficiency and community involvement. REC’s energy experts shared tips with members and provided all attendees with an energy efficiency starter kit to help them begin projects at home.