Prince George Electric Cooperative held their annual meeting Sept. 26. Because of the cooperative’s ongoing commitment to put the safety of employees and members first, the meeting was held virtually due to continued COVID-19 concerns. A quorum was reached, with 817 members present by proxy and 12 members present in person.
Robert Hall, vice president and chief financial officer, delivered the financial report, noting that PGEC’s 2021 Financial Audit came back with a “clean report.” He reported operating earnings of 1,372,355 for 2021, as compared to 529,480 in 2020.
PGEC President & CEO Casey Logan then took to the podium, explaining that the cooperative is still feeling the effects of supply chain issues and inflation. “As you can imagine, it poses an extreme challenge when it comes to material procurement and project planning,” he said. “But rest assured that your management team will continue to take the steps necessary to ensure we have the materials needed to keep the lights on.”
He noted that the cooperative is in strong financial standing, pointing out that PGEC returned over 615,000 in capital credits to its members last year.
Logan also provided a RURALBAND update. “RURALBAND, our wholly owned subsidiary, continues to offer high-speed fiber and home internet access to our members – and we’ve had a tremendous year,” he said. RURALBAND has connected over 4,000 homes and businesses in Surry County – and with the help of recent grants, RURALBAND plans to provide universal access to Sussex and Dinwiddie Counties by the end of 2024.
“In only four short years, we have become one of the first cooperatives in the nation to offer this service to every electric cooperative member,” Logan proudly stated.
It was also reported that the Board of Directors recently adopted a new mission statement for the cooperative. “Prince George Electric Cooperative exists to enhance the quality of life for the communities in which we serve,” Logan read.
The three directors reelected to three-year terms were Brian E. Coey, who represents District 1; John M. Brock, Jr., who represents District 4; and Keith M. Dunn, who represents District 6.
Crystal Johnson-Smith, vice president of human resources, announced the PGEC recipients of $1,000 college scholarships from the VMD Association and the ten lucky winners of $250 electric bill credits for submitting their proxy votes.
Board Chair Paul Brown concluded the meeting by saying, “I am very proud of our board and our staff. They do a very good job.” Mr. Brown described the storm that came through the night before and how the staff dealt with it very nicely and got our members back up quickly. Right-of-ways are cleared to minimize trees failing on the lines and the time it takes to restore. “Our members come first, and we hope to see everyone next year in person.” Brown proudly stated.
–Report by VMD Association