A non-profit membership corporation hat provides electric service to members. A member-elected Board of Directors sets rates and policies. Co-ops are eligible for financing from the federal Rural Utilities Service.
Member owned, non-profit business enterprise, incorporated under the laws of the state in which it operates. Any "margins" made by the cooperative are returned to the members in the form of capital credits.
or Electric Cooperative - A member-owned electric utility company serving retail electricity customers. Electric cooperatives may be engaged in the generation, wholesale purchasing, transmission, and/or distribution of electric power to serve the demands of their members on a not-for-profit basis. The MPSC may regulate electric cooperatives in Michigan. Electric cooperatives are sometimes called â€œdistribution cooperatives.â€ For a directory of Michigan electric cooperatives, see http://cis.state.mi.us/mpsc/electric/address.htm#CooperativeUtilities .
Created to provide electricity to farms and small towns across North Dakota. The Baker Electric Coop in Cando electrified the first farm in North Dakota near York in 1936.
Customer-owned electric utility that distributes electricity to members and that receives lower-cost financing through the federal government. In Texas, co-ops can choose to opt into the competitive retail market.
A nonprofit, customer-owned electric utility that distributes power in a rural area.