NOVEC customers will receive $6.2 M in CashBack in December

December 02, 2021

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

MANASSAS, Va. ― Northern Virginia Electric Cooperative (NOVEC) will return more than $6.2 million in CashBack to current and former Co-op customers in December. Current customers will see a credit on their bills. Former customers will receive checks if their individual amount is at least $5.

What is CashBack?
NOVEC reinvests its revenue to operate the cooperative, as well as operate, upgrade, and expand its electric system. Because NOVEC is a not-for-profit business, it allocates revenue greater than the cost of conducting business to customers. NOVEC holds the allocations (margins) in CashBack accounts for each customer in proportion to the kilowatt-hours of electricity purchased.

“Prudent financial management and strategic planning have kept NOVEC strong and steady throughout the COVID-19 pandemic,” explains NOVEC President/CEO Stan Feuerberg. “Therefore, our board of directors approved giving customers more than $6.2 million in CashBack in December.”

NOVEC has returned to current and former customers approximately $309 million in CashBack since 2000.

About NOVEC

NOVEC, headquartered in Manassas, Virginia, is a not-for-profit corporation that provides electricity to more than 175,000 metered customers in Fairfax, Fauquier, Loudoun, Prince William, Stafford, and Clarke counties, the City of Manassas Park, and the Town of Clifton. It also supplies natural gas, and energy products and services to consumers in the Washington, D.C., region. The utility serves more customers than any other electric co-op in Virginia and is one of the largest electric cooperatives in the United States. 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.     

« View all news releases

facebookTwitterYouTubeemail