Upshur Rural Electric Cooperative is a non-profit organization. The URECC members are equal owners of the cooperative. Being a non-profit organization, if the corporation makes a profit for the year, it is returned to the members as capital credits.
The purpose of an electric cooperative is to deliver electricity to its members. URECC purchases all electricity used by its members at the best price available. That cost of power, along with cost of operations is then paid by its members at the RATE most recently established. At some point rates must be adjusted to cover things such as inflation, increase in material costs and supplies, additional expenses from storm damage and disasters, and the cost of purchasing electricity produced by the companies that generate power. If a rate is set based on the cost of doing business for that year, and not adjusted as that cost increases yearly, eventually the cooperative will begin diminishing its financial strength and ability to bring affordable, reliable service to its members.
The Member Services policy is currently being revised to reflect adjustments concurring with the 2022 rate change. The PDF you see here will be replaced upon receipt of the updated policy.