Membership Matters

April 2008

Look for Your Capital Credits Check in Your Annual Report

Thanks to a $2 million capital credits retirement recently approved by your board of directors, the number of members receiving capital credits checks and refunds this year will nearly quadruple.

For the first time, members will receive their capital credits checks inside their annual report which, like your member newsletter, features a new look. Be sure and look inside because you may one of more than 20,000 members receiving your capital credits check inside this year’s annual report!

Another 31,000 members will receive information about their capital credits bill credit inside their annual report.

How do you know if you’ll receive a check or bill credit? Members due a capital credits refund of $15 or more will receive a check. Members due a refund of less than $15 will receive a bill credit. Checks are sent to members receiving the larger capital credits refunds because we want you to have the opportunity to spend your refund the way you wish — and not have to apply it to your electric bill if you would rather spend it another way. On the other hand, we give a bill credit to those receiving less than $15 because members have told us it’s more convenient to have it credited to their bill as opposed to having to cash a check for a smaller amount.

The new look for your annual report is also designed to better inform members about capital credits because many of you have said that you’re unaware of this cooperative benefit. We hope the new annual report provides not only key informa-tion about how your cooperative is performing, but also gives you helpful information about cap-ital credits and other services offered by your cooperative.

Be sure and look for your new format annual report — and possible capital credits check — coming to your mailbox in May!

Energy Tip

Artificial lighting can account for nearly 15 percent of a household’s electricity consumption. Use of new lighting technologies can reduce lighting energy use in homes by 50 to 75 percent. Reduce energy use by selecting lighting that uses energy more efficiently, and by installing lighting controls. Source: U.S. Department of Energy

Members Only News
- For Members of Blue Ridge Electric

Meet the Candidates

You have the opportunity to meet the candidates for your cooperative’s board of directors during “Meet the Candidates” forums being held in each local Blue Ridge Electric office on the following dates:

Watauga District . . . . . . . . . May 8
Caldwell District . . . . . . . . . .May 13
Ashe District . . . . . . . . . . . . .May 15
Alleghany District . . . . . . . . . May 19

Each forum begins at 7 p.m.

New Meter Readers

Members may see new meter readers as the cooperative begins contracting in April with the company installing the cooperative’s automated meters.

Specialized Technical Services, Inc. (TEAMsTs or STS), is a national service organization actively engaged in providing meter reading, Automated Meter Reading (AMR), Advanced Metering Infrastructure (AMI), and data management.

In addition to reading traditional meters, STS is assisting Blue Ridge in a three-year phase-in of Automated Metering Infrastructure (AMI) across its service area. These digital or “smart” meters use new technology to record and communicate electricity consumption and power quality in greater detail which will assist the cooperative with power reliability efforts as well as give members energy infor-mation that will help them become wiser energy users.

The Perspective

An Editorial by Chief Executive Officer Doug Johnson

Largest Capital Credits Retirement in Blue Ridge History

I’m very pleased to announce that your board of directors recently approved a $2 million capital credits retirement, which is the largest capital credits retirement in the cooperative’s history. These funds are being returned to members this spring by way of check coming in your annual report this May or through a bill credit that may have already appeared on your bill. (Learn more about the delivery of capital credits on page 1.) In addition, we return a portion of capital credits retirements each year to estates of deceased members.

Capital credits are one of the most unique and rewarding benefits you enjoy as a member of an electric cooperative. Cooperatives return funds to members based on their electric service purchases.

Since Blue Ridge Electric was founded, over $24 million in capital credits has been returned to the membership. The decision to implement a capital credits retirement is considered each year based on careful review by your board of directors of the fiscal health of your cooperative.

Capital credits are important because they serve as the cooperative’s source of equity. They are the margins allocated to cooperative members based on their electricity purchases. These mar-gins are retained for a period of years and used as capital to help fund investments in the electric system to ensure the cooperative is providing highly reliable and affordable electricity.

Allocating and retiring capital credits to members are two of the practices that distinguish coop-eratives like Blue Ridge Electric from other types of businesses. It also is the basis that allows us to operate as a not-for-profit business which means we do not pay income tax — this creates an important value for our members.

This not-for-profit advantage helps us to deliver electricity to you at the low-est possible cost. At a cooperative, there is no stock to be purchased or sold; the members are the owners of the business. Capital credits are both your investment in the cooperative and your benefit. They represent your ownership in Blue Ridge Electric. We’re proud to offer the capital credits benefit and I hope you look forward to your capital credits check or bill credit information inside your newly designed annual report being mailed to you in May!

Be on the lookout for your newly designed annual report being mailed in May -
it may contain a check!

An Appalachian Summer Festival Finale Fireworks Concert
with The Charlie Daniels Band
Saturday, July 26 7:30 p.m.
New Location: Holmes Convocation Center
Appalachian State University
Doors open at 6:30 p.m.
Adult tickets with Blue Ridge Electric member discount - $25 (regularly $30)
Children’s tickets - $5
*All tickets must be purchased through ASU.
Sponsored by Blue Ridge Electric Membership Corporation.

Published monthly by Blue Ridge Electric Membeship Corporation

CORPORATE OFFICE
PO Box 112 • Lenoir, NC 28645

CHIEF EXECUTIVE OFFICER
Doug Johnson

EDITOR
Renée R. Whitener

PRODUCTION SUPERVISOR
Susan Simmons

DISTRICT OFFICES
Caldwell (828) 754-9071
Watauga (828) 264-8894
Ashe (336) 246-7138
Alleghany (336) 372-4646
From Wilkes (336) 838-4655

PowerLine®: 1 (800) 448-2383
(PowerLine is an automated account information and outage reporting system.)

Toll Free: 1 (800) 451-5474(for members outside our service area)

To report an outage at any time, call one of the numbers listed above.

OFFICE HOURS
8:30 a.m. - 5:00 p.m., Monday - Friday
Night deposit available

Visit us on the web:www.BlueRidgeEMC.com