Contact: Priscilla Knight, 703-392-1580, pknight@novec.com
On March 2, 2006 The Federal Energy Regulatory Commission (FERC) denied Northern Virginia Electric Cooperative Inc.’s (NOVEC) request to modify its power supply contract with Old Dominion Electric Cooperative. NOVEC is now considering whether to appeal the decision.
“I am disappointed by FERC’s decision not to allow NOVEC to modify its contract and seek lower cost power from the market. However, I don’t regret our effort and NOVEC will continue to look for ways to keep costs low for our consumers,” said Stan Feuerberg, NOVEC President and CEO.
On January 5, 2006, the Northern Virginia Electric Cooperative (NOVEC) asked the Federal Energy Regulatory Commission (FERC) to modify its wholesale power supply contract with Old Dominion Electric Cooperative (ODEC) to allow NOVEC to obtain new power resources from competitive suppliers. As part of the request, NOVEC reaffirmed its commitment to continue paying its share of existing ODEC power resources.
NOVEC is a not-for-profit, consumer-owned electric distribution cooperative. NOVEC provides reliable electric service to more than 130,000 homes and businesses in six counties of Northern Virginia, most of which are in Fairfax, Prince William and Loudoun counties, among the fastest growing in the country. NOVEC’s mission is to provide its cooperative member retail customers with reliable power supply at the lowest cost reasonably possible.
NOVEC is one of the largest cooperatives in the nation, and largest of the 12 distribution cooperatives that own ODEC. NOVEC accounts for nearly 30 percent of ODEC’s member load and member revenues.
