The Cooperative & Our Principles
Electric Cooperatives are:
• Private independent electric utility businesses.
• Incorporated under the laws of the states in which they operate.
• Owned by the consumers they serve.
• Governed by a board of directors elected from the membership which
sets policies and procedures that are implemented by the cooperatives'
Owen Electric's Power Supplier
The Cooperative's wholesale power is provided by East Kentucky Power Cooperative, which is owned by Owen Electric and seventeen other member cooperatives. Together they serve more than one million people in 89 Kentucky counties. East Kentucky Power owns and operates three coal-fired power plants and three combustion turbines which provide a total generating capacity of 1,677 MW. An additional 170 MW of hydro-peaking power is available under long-term contract. The Cooperative also has ties to all utilities operating in Kentucky. A readily available supply of coal from Eastern Kentucky and West Virginia is directly responsible for Kentucky having the 3rd lowest electric rates in the nation. Proximity to such an abundant fuel source, along with Owen Electric's service reliability and benchmark efficiency, have allowed the Cooperative to reduce rates by 16.1 percent since 1983.
National Rural Electrical Cooperative Association
Kentucky Association of Electric Cooperatives
Electric Power Research Institute
East Kentucky Power Cooperative
Northern Kentucky Chamber of Commerce
Northern Kentucky Tri-Ed
Kentucky Cabinet for Economic Development
The National Rural Electric Cooperative Association (NRECA) represents the national interests of cooperative electric utilities. NRECA provides legislative, legal and regulatory services; and programs in insurance, management and employee education, training, consulting, public relations and advertising. NRECA and its member cooperatives also support energy and environmental research and administer a program of technical advice and assistance in developing countries around the world.
The Kentucky Association of Electric Cooperatives (KAEC) represents Owen Electric and 26 other Kentucky electric cooperatives on a state level. By representing 1.5 million rural electric consumers, KAEC can provide legislative representation for electric cooperatives. KAEC also aids cooperatives in safety and loss prevention programs, communications and public relations services, assistance with annual membership meetings, youth programs, technical assistance, and legal services. KAEC also publishes the Kentucky Living Magazine.
Touchstone Energy® Cooperatives
Touchstone Energy Cooperatives represent more than 750 energy cooperatives serving more that 32 million households and businesses, delivering power and energy solutions in 46 states.
Are local, active members of their communities committed to serving commercial, industrial and residential customers with integrity, accountability, innovation and community involvement.
Represent electric cooperatives' unique characteristics in a changing marketplace where these values and differences matter more and more each day.
Are a nationwide network that brings added value to and benefit for all consumers while emphasizing the significance of each electric cooperative's local presence and ties to the community.
Cooperatives adhere to seven cooperative principles:
Voluntary and Open Membership
Cooperatives are voluntary organizations, open to all persons able to use their services and willing to accept the responsibilities of membership, without gender, social, racial, political or religious discrimination.
Democratic Member Control
Cooperatives are democratic organizations controlled by their members, who actively participate in setting policies and making decisions. The elected representatives are accountable to the membership. In primary cooperatives, members have equal voting rights (one member, one vote) and cooperatives at other levels are organized in a democratic manner.
Members’ Economic Participation
Members contribute equitably to, and democratically control, the capital of their cooperative. At least part of that capital is usually the common property of the cooperative. Members usually receive limited compensation, if any, on capital subscribed as a condition of membership. Members allocate surpluses for any or all of the following purposes: developing the cooperative, possibly by setting up reserves, part of which at least would be indivisible; benefiting members in proportion to their transactions with the cooperative; and supporting other activities approved by the membership.
Autonomy and Independence
Cooperatives are autonomous, self-help organizations controlled by their members. If they enter into agreements with other organizations, including governments, or raise capital from external sources, they do so on terms that ensure democratic control by their members and maintain their cooperative autonomy.
Education, Training, and Information
Cooperatives provide education and training for their members, elected representatives, managers and employees so they can contribute effectively to the development of their cooperatives. They inform the general public, particularly young people and opinion leaders, about the nature and benefits of cooperation.
Cooperation Among Cooperatives
Cooperatives serve their members most effectively and strengthen the cooperative movement by working together through local, national, regional and international structures.
Concern for Community
While focusing on member needs, cooperatives work for the sustainable development of their communities through policies accepted by their members.
Owen Electric Cooperative's 5 Core Values:
We, the Employees, Board of Directors and Management of Owen Electric Cooperative have identified the following core values as being the central focus in providing quality service to our Membership:
We will incorporate the highest ethical standards in all interactions with our teammates, members and community. In doing so, we will dedicate ourselves to honesty, trustworthiness, good character and the highest personal and professional conduct.
We will ensure the best utilization of employees, technology, facilities and financial resources to provide high-quality, professional service.
We will embrace dynamic and innovative approaches in providing quality service through new technologies and continual process improvement.
COMMITMENT TO MEMBERS, EMPLOYEES & COMMUNITY
We will focus our actions and attitudes on the best interests of our members and community. We will foster individual and organizational success through training, empowerment, open and timely communications, teamwork and a safe working environment. We recognize the value of each teammate's contribution to the success of the organization and believe in sharing the financial rewards that result from individual and team efforts.