Mecklenburg Electric Cooperative

The meeting included an invocation and brief comments on safety, reliability, and financial strength. The cooperative reported on its safety scores, upgrades to the electric distribution system, and financial performance, including returning capital credits to members. Subsidiaries like Empower Broadband were also highlighted for their progress in connecting fiber subscribers. The meeting covered the election process for the board of directors, with nominations and proxy votes cast. Recognition was given to retiring board members for their dedicated service.

The meeting included reports on safety, reliability, and financial status. Safety is a top priority, with no lost time accidents in 2021. Reliability was reported at 99.6% even with the historic ice storm. Financials remain strong with significant revenue and net margins, and capital credits were returned to members. The cooperative is also expanding internet service through Empower Broadband, which received substantial grant funding. The election of board members also took place.

The meeting included an invocation, followed by a welcome address highlighting the cooperative's 87 years of service and its commitment to unchanging principles amidst changing times. Key principles discussed were safety, financial soundness, and service reliability. The cooperative's net utility plant has grown, and capital credits were returned to members. The cooperative also focused on its broadband subsidiary, Empower Broadband, which has expanded its fiber network and provided high-speed internet access to numerous homes and businesses. The meeting also included the treasurer's report, elections, and the president and CEO's report.

The annual meeting of the Mecklenburg Electric Cooperative included an invocation and a welcome address, observing the cooperative's 85th year of service. Discussions covered the cooperative's growth, expansion, and commitment to broadband needs. The annual report, featuring past successes and future preparations, was reviewed. Key highlights included growth in energy delivery, infrastructure investments, and the expansion of Empower Broadband. Financial performance, capital credit returns, and strategies for cost management and revenue generation were also discussed. The meeting also addressed reliability, safety, and the election of board members.

The board meeting included the approval of the meeting agenda, a review of the previous month's regular meeting minutes. The financial report was postponed to the March board meeting. The Expense Reports for December 2022 and January 2023 and the Safety Reports for December 2022 were reviewed and accepted. The President & CEO presented his report. Reports from VMDAEC and ODEC were presented, followed by the approval of new membership applications for January 2023 and bad debt write-offs for December 2022. The members of the 2023 Nominating Committee were selected. The board then moved into an executive session, after which they resumed the regular session before adjourning.