Give the gift of electricity

This holiday season, give your friends and loved ones the gift of electricity. Rappahannock Electric Cooperative (REC) offers gift certificates to help members during one of the most expensive times of the year.

“Anyone can purchase an electricity gift certificate from REC,” said Kris Sieber, director of member services at the Cooperative. “It’s a popular option for people who want to give a gift that could really make a difference to someone, especially during the holiday season when electric bills usually increase.”

The gift certificate is applied directly to the REC member’s account. “Depending on the amount someone gives, the gift could last for several months,” added Sieber. “If someone gives a $250 gift, and that person has an average electric bill of $125, then their electric bill is taken care of for two months.”

REC gift certificate forms can be printed from the Cooperative’s website, www.myrec.coop. Completed forms should be returned to one of REC’s offices, or by mail. For more information please call, 1-800552-3904.

Members receive credits:

Rappahannock Electric Cooperative (REC) returned over $3 million in capital credits to members noted as a credit on their November electric bills. Capital credits are a member’s share of the Cooperative’s margins assigned to an account in each member’s name.

“One of the benefits of cooperative membership is the potential for an annual credit,” said Larry Andrews, REC’s manager of administrative services/controller. “Because REC is not-for-profit, margins — the money left over after paying all expenses involved in providing safe and reliable electric service — are credited back to members in the form of Capital Credits.”

Each member is assigned Capital Credits based on the usage of electricity purchased during the year. This invested amount represents

of a member’s ownership in the Cooperative. Members who were eligible for 2016 Capital Credits will see “Capital Credit – General” on their November billing statement identifying the amount being returned.

“REC works to efficiently manage expenses so that margins can be returned to our member-owners in the form of Capital Credits,” said Andrews. “This is a contrast to investor-owned utilities that use profits to pay share-holders — an example of the ‘cooperative difference.’”