We’re giving money back to YOU this holiday season.
JOEMC is excited to announce to members that your co-op will be issuing a one-time bill credit of $36 on December bills…so take a minute to look at this month’s electric bill.
This member refund is possible due to a variety of factors explained below.
First, by the end of October of this year, members had purchased more power during the year than was budgeted and projected. This 8.4% increase in electric sales has created greater than anticipated revenues.
Next, during the 2021 year, the cooperative received a favorable reduction in our power cost due to the way in which our power supplier, NCEMC, billed us.
Finally, an extremely important factor that has contributed to the bill credit is that the co-op has operated its day-to-day business operations in an efficient manner. As of the end of October of this year, the co-op’s variable or controllable expenses were 15.5% below what was budgeted for 2021.
This is yet another reason why it’s good to be a member of your electric cooperative: any monies received above our operating needs get returned to you, our members! We hope you enjoy the coming refunds!