Contact: Priscilla Knight, 703-392-1580, pknight@novec.com
NORTHERN VIRGINIA ― The Northern Virginia Electric Cooperative board of directors has authorized a special $2.36 million CashBack refund to customer-owners. Refund credits will appear on customers’ December bills. The refund brings NOVEC’s total CashBack in 2009 to more than $15 million.
“Although much of the U.S. economy is unstable, NOVEC’s financial condition is strong,” says NOVEC President/CEO Stan Feuerberg. “The entire NOVEC team is committed to driving down the cost of energy for our members. We know that many of our customer-owners are dealing with economic hardships. Therefore, in the spirit of the season, the directors voted to give Co-op members this special CashBack refund.”
Former customers may have a refund waiting for them. They can sign on to www.novec.com/cashback12 and review the list of mailed CashBack checks that were returned as undeliverable during the past year. Former customers can call customer service at 703-335-0500 or 1-800-335-0500 for more information.
NOVEC is a not-for-profit business. Co-op customer-owners, who are members, vote for their governing board of directors. When revenues exceed the cost of doing business, some of the margins are retained to pay for expansion of and improvements to NOVEC’s electric distribution system. Directors may vote to return remaining revenue margins to customers when the Co-op’s financial condition permits returns of “patronage capital” through CashBack.
