YOUNG HARRIS, Ga. — On Thursday, September 1, Blue Ridge Mountain EMC’s Board of Directors voted to continue passing through the Tennessee Valley Authority’s 2.5% Pandemic Recovery Credit to the membership. This is the third year in a row that BRMEMC’s Board has chosen to pass through this credit.
When the COVID-19 Pandemic hit in early 2020, TVA created the Pandemic Recovery Credit to help alleviate some of the burden associated with energy consumption during lockdowns, loss of jobs, working from home and etc. In TVA’s recent Board of Directors meeting, it was approved to keep the Pandemic Recovery Credit at 2.5% rather than the expected trimmed rate of 1.5%. According to TVA’s press release, based on strong operational and financial performance, TVA’s Board approved an increased credit for all customers through FY23, providing about $230 million in support back to communities in addition to the $1.4 billion in total credits returned to customers through this fiscal year.
After being informed of this information from TVA, BRMEMC’s Board was quick to ensure the full 2.5% credit would continue to be passed on to the membership especially with the rise in inflation and fuel costs. The Board recognized the value of this continued rate reduction for its members along with keeping BRMEMC-imposed rates unchanged for the past nine years.
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About Blue Ridge Mountain EMC
Blue Ridge Mountain Electric Membership Corporation is a member-owned electric cooperative headquartered in Young Harris, Georgia, serving over 49,000 member-customers in Cherokee and Clay Counties in Western North Carolina, and Towns, Union and Fannin Counties in Northeast Georgia. Organized locally in 1937, BRMEMC has invested well over $330 million in physical infrastructure in its mission to provide reliable electric and broadband services to its members where those services would not otherwise have been available. Blue Ridge Mountain Electric Membership Corporation is an equal opportunity provider, employer and lender. ###