RVEC is different from other utilities because it is a not-for-profit business. We do not sell stock and are not under pressure to earn profits for absentee stockholders. The Cooperative is owned by its members, not investors. Anyone who buys electricity from RVEC is a member-owner; all member-owners share ownership of the Cooperative and have a voice in its operation.
A benefit of being a member-owner is competitive energy costs. The rates and fees are cost based, which provides you with the lowest prices to deliver Reliable, Affordable and Responsible electricity. If RVEC collects more money than it needs to operate, it reinvests those margins into the system to keep your power on and keep our needs to borrow high-interest capital to a minimum.
RVEC also has several programs designed to help you reduce your energy costs. Such programs include rebates for energy efficiency, advice on geothermal or air source heat pumps, lighting suggestions, information on electric water heaters, and more.
One of the greatest assets you have available as a cooperative member-owner is personal service from someone you can trust, that's your electric cooperative.
Your Voice Matters
Each membership has one vote in the election of the Cooperative’s board of directors and in any other decisions brought up at the Cooperative’s annual meeting (September).
Directors of the Cooperative are also member-owners, who serve without salary, except for a per diem and expenses to cover their out-of-pocket costs in serving the Cooperative. The board of directors hires a CEO to take charge of operating the Cooperative for the benefit of its members-owner. These directors represent you, our member-owners.