Paying the Debts for the Winter Storm of 2021
After the Storm
March 25, 2021
Texas’ Electric Cooperatives Remain Strong, Committed to Powering Co-op Country
February’s unprecedented polar vortex challenged Texas’ electrical grids, but Upshur Rural Electric Cooperative continues to deliver the safe and reliable electric service it has provided for more than 80 years.
“Electric cooperatives were born out of hardship and have weathered storms and other challenges for eight decades,” said Mike Williams, president and CEO of Texas Electric Cooperatives, the statewide association for distribution and generation cooperatives. “The co-op family remains strong and firmly committed to powering members and communities across our great state. We’re here to stay.”
Upshur Rural Electric Cooperative is a member-owned and member-led cooperative that exists only to serve its members, not to make a profit. In fact, revenues earned beyond the cost of the co-op’s operations are returned to members in the form of capital credits. Electric bills from the co-op are tied directly to the amount of electricity each member uses, and the cost of that power. The co-op never charges members for electricity when their power is off.
Electric cooperatives have a long history of working with Texas’ leaders to ensure your electricity remains safe, reliable and affordable. We don’t yet know all the impacts of the recent storm, but we remain focused on protecting our co-op’s members and employees from devastating effects. The expenses with power during the winter storm were extreme, and URECC’s efforts are to minimize the expenses our members will have to pay presently. Electric cooperatives and electric companies in Texas will be paying long-term for years for the extremities of the winter storm. Our goal at URECC is to spread those expenses out over a long length of time, reducing the economic impact on our members. The Board of Directors and upper management are working hard daily for you, our member, to find solutions to the winter storm economic impact on URECC and its members.
We will continue to work diligently on behalf of our members and employees as we learn from this event. Throughout this assessment and learning process, we pledge to keep our members and the general public informed every step of the way. At URECC, we remain focused on our primary mission: providing safe and reliable energy solutions to our members at a fair price—a commitment that has guided our business for more than 80 years.