Once again, Craighead Electric Cooperative Corporation continued its commitment to member service in a financially responsible manner. Our operating margins of $3,254,091 were adequate to meet the requirements of mortgage agreements.
Member equity in the system was 38.84% percent at the end of the year. Members were refunded $2,399,050 in cash to redeem patronage capital credits. The 2005/2006/2020 redemption brings the total capital credits refunded to members to $27,149,122. Thomas, Speight, & Noble, CPA audited our financial records. You are welcome to examine that report.
System statistics of interest include: average meters served, 31,203, a net increase of 113 meters; more than 4,986 miles of power lines; 569,111,930 kilowatt-hours used by members, down 24,051,923 kilowatt-hours from the previous year; a system peak demand of 187,607 kilowatts, recorded in the month of December; and a net plant valuation of $245,739,275 at year’s end.
Additional financial data and operations information is available in this annual report. If you have any questions concerning your electric cooperative, we are happy to answer them.
-Terry Rorex, Chairman
-Len B. Nall, Secretary-Treasurer
-Jeremiah Sloan, CEO
Average meters served, 31,932, a net increase of 369 meters.
CECC employees completed nearly 42,000 service orders in 2022
System peak demand of 184,835 kilowatts, recorded in the month of March.
