February’s unprecedented polar vortex challenged Texas’ electrical grids, but Fayette Electric Cooperative continues to deliver the safe and reliable electric service it has provided for more than 80 years. The rates its members pay for power will remain stable, and all co-op employees are on the job to keep the lights on.
“Electric cooperatives were born out of hardship and have weathered storms and other challenges for eight decades,” said Mike Williams, president and CEO of Texas Electric Cooperatives, the statewide association for distribution and generation cooperatives. “The co-op family remains strong and firmly committed to powering members and communities across our great state. We’re here to stay.”
Fayette EC is a member-owned and member-led cooperative that exists only to serve its members, not to make a profit. In fact, revenues beyond the cost of the co-op’s operations are returned to members in the form of capital credits. Electric bills from the co-op are tied directly to the amount of electricity each member uses, and the co-op never charges members for electricity when their power is off. Consistent and stable rates are an important part of our commitment to our members.
As we go forward, Fayette EC does not anticipate any significant increase to the overall cost of the electricity we provide. Electric cooperatives have a long history of working with Texas’ leaders to ensure your electricity remains safe, reliable and affordable. We don’t yet know all the impacts of the recent storm, but we remain focused on protecting our co-op’s members and employees from any potential effects. Our renewable resources were measurable and impactful not only for assisting ERCOT’s demand but assisted Fayette EC in terms of minimizing exposure to price volatility to ERCOT’s system reliability costs.
We will continue to work diligently on behalf of our members and employees as we learn from this event. Throughout this assessment and learning process, we pledge to keep our members and the general public informed every step of the way. At Fayette EC, we remain focused on our primary mission: providing safe and reliable energy solutions to our members at a fair price—a commitment that has guided our business for more than 80 years.