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May 13, 2020

Contact: NOVEC Public Relations, 1-888-335-0500, communications@novec.com

MANASSAS, Va. ― The Northern Virginia Electric Cooperative board of directors has authorized the retirement of $3.8 million in patronage capital credits to customer-owners during the December billing cycle. Current customers who began service with NOVEC between 1993 and December 2014 will see the retirement credited on their December bills in the form of “CashBack.”  Former customers who have a retirement of $5 or more will receive checks in the mail.

As a not-for-profit business, NOVEC uses patronage capital to maintain, improve, and expand its electricity distribution system. The Co-op’s board of directors votes to return a portion of the capital periodically to its customer-owners. 

“We’re in a strong financial position,” notes NOVEC President/CEO Stan Feuerberg. “As a result of our cost containment efforts, the board approved the retirement of this large amount of money — just in time for the December holidays.”

About NOVEC

NOVEC is a not-for-profit electric utility corporation that supplies and distributes electricity and energy-related services to more than 172,000 metered customers in Fairfax, Fauquier, Loudoun, Prince William, Stafford, and Clarke counties, the Town of Clifton, and the City of Manassas Park. It is one of the largest electric companies of its kind in the nation. For more information, visit www.novec.com or call 703-335-0500 or 1-888-335-0500.

NOVEC is an equal opportunity provider and employer.

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