embership M
05 TWENTY TWENTY ONE
MATTERS
Money Back
Capital credits refunds coming in May! Money is coming back to members this May thanks to over a $5 million capital credits retirement approved by your Board of Directors! Checks begin mailing on May 7 so be sure to check your mailbox! Members qualifying for a $35 or more refund will be mailed a check separate from their electric bill. Those qualifying for less will see it as a credit to their electric account in May. Members new to the cooperative as of 2021 will be eligible for capital credit refunds beginning next year. As a cooperative, Blue Ridge Energy doesn’t earn profits. Instead, revenues remaining after all expenses are paid each year are considered “margins.” Margins are allocated annually to members and reflect your member equity (ownership) in the cooperative. After being used for a period of years as capital to help finance reliability projects, these funds are returned to members. This process helps reduce the need for loans, which in turn, helps keep your electricity rates lower. It also helps maintain a healthy balance between debt and equity to ensure your cooperative’s financial health and stability. The percentage of equity to be retired and refunded to members is determined annually by your Board of Directors based on your cooperative’s financial condition. This year, that amount is 3 percent. Over the history of Blue Ridge Energy, more than $81 million has been returned to members.
Checks begin mailing May 7 for members qualifying for a refund of $35 or more. Those qualifying for less will see it as a credit applied to their electric account in May.
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THE
Perspective Could what happened in Texas happen here? Texas dominated headlines earlier this year when massive power outages resulted due to a combination of extreme weather, power market factors and an electric grid that was unable to meet the heating demand of so many people. Could that happen locally? The simple answer is that while it’s possible, it’s not very likely. From an engineering standpoint, part of the problem was the Texas electric grid wasn’t designed for ice and extreme cold weather. Texas also had power supply issues with problems getting natural gas to their power generation plants and with some frozen wind turbines. Texas was also at a disadvantage in being a stand-alone state in regards to their power grid since they are not connected to any other state. Consumers suffered from price shock, with some getting power bills for thousands of dollars. This is because, as a deregulated state, consumers were exposed to the risk of wholesale power cost fluctuations that occur regularly but are very extreme during situations such as high demand. In North Carolina and at Blue Ridge Energy, we’re better positioned to avoid a similar situation and protect our residents from what occurred in Texas. Blue Ridge Energy engineers design our cooperative’s system of substations, transmission and distribution power lines for Page 18
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From Blue Ridge CEO Doug Johnson
extreme conditions. We plan for not only normal operating conditions but also worst case scenarios to be able to provide reliable power even during extreme cold, ice or other severe weather. Part of our efforts include a 17-mile 230 kV high-voltage transmission line being constructed from Ashe County into Watauga County. Our engineers are now projecting the total cost of this project, which includes a substation in the Rutherwood community, to be $46 million, and it should be complete in late 2023. While it will serve our largest district of Watauga County, it will also provide backup power for all of our mountain service area. While Blue Ridge Energy doesn’t generate its own power, we coordinate with our wholesale power supplier to ensure they have enough capacity to provide power for extreme situations as occurred in Texas. There is also more fuel diversity in our wholesale power generation portfolio than in Texas, as well as the ability to connect our grid to other states around North Carolina. We take steps on a daily basis to ensure the electric grid can quickly and effectively recover from storms and other threats so our members have the reliable, affordable and sustainable electricity they depend on. We are actively replacing old poles, wires and equipment before a failure occurs in order to be proactive, not reactive. We hope you see that’s one way we’re working toward a Brighter Future for our members and communities!
Membership MAT TERS
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Ridge hnson
Annual Membership Meeting plans underway...
Direc tor elec tion kits coming in late May
At a cooperative, your Board of Directors is made up of members representing the entire membership. Each year, Blue Ridge members vote on four open seats, one in each of the cooperative’s directorate districts. Director election kits will be sent to members on May 26. Included will be: • biographical information for all candidates • instructions on how members can vote for candidates in all districts by using one of two options: online or by returning the proxy provided in the kit
election management procedures, the form cannot be given to an employee or accepted at any Blue Ridge office. To ensure the integrity of director elections, Survey and Ballot Systems, an independent election administrator, was approved by the Credentials and Election Committee in December 2020 (committee members’ names are available at BlueRidgeEnergy.com). This committee is comprised of members from across the cooperative’s service area and is responsible for ensuring director elections are properly conducted, including certifying election results.
• or, if signed up to receive the email director election kit, you will receive a link in the mail to easily vote online Due to pandemic safety precautions, members are encouraged to vote online or by mail. However, members may choose to vote or change their vote in person during the cooperative’s Annual Meeting to be held June 24 at 4 p.m. at the corporate headquarters in Lenoir. Voting at the corporate office will be held in a designated area in order to keep safe social distancing practices in effect due to the pandemic. If voting by mail, the form must be signed by the member with their choices clearly marked and returned in the enclosed postage-paid envelope no later than 5 p.m. on Wednesday, June 16, 2021. To comply with proper
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Check out our...
easy service options pay or check your balance by phone: 1-800-451-5474
Check your accounts and pay online at BlueRidgeEnergy.com > My Account OR chat with us!
Download the FREE Blue Ridge Energy mobile apps for electric and propane and fuels
At our payment kiosks at each district office*; J&M General Store & Grill, Hwy 321, Blowing Rock; Scotchman Convenience Store, US Hwy. 321, Hudson; and Warrensville Drug, NC Hwy. 88W, Warrensville. *Propane and fuels payments at district office locations only.
Blue Ridge night deposit boxes at all district offices (Normally applied the next business day)
By mail: Blue Ridge Energy PO Box 112 Lenoir, NC 28645
Visit us on the web: BlueRidgeEnergy.com CHIEF EXECUTIVE OFFICER Doug Johnson EDITOR Renée R. Whitener PRODUCTION SUPERVISOR Jacob Puckett
Membership MAT TERS
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DISTRICT OFFICES Caldwell Watauga Ashe Alleghany Wilkes PowerLine*
TOLL FREE (828) 754-9071 (828) 264-8894 (336) 846-7138 (336) 372-4646 (800) 451-5474 (800) 448-2383
(800) 451-5474
OFFICE HOURS: 8:30 AM - 5:00 PM Monday - Friday Kiosks available
(PowerLine* is an automated account information and outage reporting system.)
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