Once again, Craighead Electric Cooperative Corporation continued its commitment to member service in a financially responsible manner. Our operating margins of $7,695,113 were adequate to meet the requirements of mortgage agreements.
Member equity in the system was 39.09% percent at the end of the year. Members were refunded $1,369,574 in cash to redeem patronage capital credits. The 2007/2021 redemption brings the total capital credits refunded to members to $28,518,697.
Thomas, Speight, & Noble, CPA audited our financial records. You are welcome to examine that report.
Average meters served, 31,788, a net increase of 585 meters
CECC employees completed over 2000 construction work orders in 2023
CECC delivered over 557 million kilowatt hours of energy in 2023.
System statistics of interest include: average meters served, 31,788, a net increase of 585 meters; more than 5,009 miles of power lines; 564,915,406 kilowatt-hours used by members, down 4,196,524 kilowatt-hours from the previous year; a system peak demand of 139,676 kilowatts, recorded in the month of June; and a net plant valuation of $256,008,735 at year’s end.
Additional financial data and operations information is available in the annual report below. If you have any questions concerning your electric cooperative, we are happy to answer them.
67% of Craighead Electric members are currently served by empower broadband service.
CECC members experienced an average of 5 and a half hours of outage time each in 2023.
Over 1500 new yard/security lights installed.