Your...Member Owned, Not for Profit...electric cooperative

President & Chairman Messages

Fiscal 2015 has been an incredible year for Middle Tennessee Electric Membership Corporation (MTEMC). From severe ice storms to new technology launches, the cooperative continued to build on its mission of providing affordable, reliable, safe electricity and outstanding member service.

Chris Jones, President

Chris Jones

MTEMC is blessed to serve an area that continues to experience growth and prosperity. Regardless of our size, our focus is on our members and delivering great value.

Gordon Bone, Chairman

Gordon Bone

The growth the cooperative has experienced over the last 30 years has been phenomenal. The hard work of our employees has paved a road that will allow our cooperative to continue to thrive.

As you scroll through this report, please take time to watch the videos and read about the great programs your cooperative offers, and learn more about where we are heading.
County Area: Cannon, Rutherford, Williamson, and Wilson Williamson County Rutherford County Cannon County Wilson County
Select a county to see your member-elected Board of Directors from each district.

Cannon County

Charlie Bowman Charlie Bowman
District 3

Rutherford County

Will Jordan Will Jordan
Vice Chairman
District 2C
David Lee David Lee
District 2B
Mike Woods Mike Woods
Secretary-Treasurer
District 2A

Williamson County

Ann Little Ann Little
District 1B
Gloria O'Steen Gloria O'Steen
District 1C
Steve Seger Steve Seger
District 1A

Wilson County

Gordon Bone Gordon Bone
Chairman
District 4C
Jim Mills Jim Mills
District 4D
Tom Purkey Tom Purkey
District 4A
Dan Smith Dan Smith
District 4B

Advanced Metering Infrastructure

MTEMC members expect the lights to come on when they flip the switch, and the cooperative is committed to making sure that happens. Continual investments in technology improve reliability and help restore power faster. This year MTEMC began rolling out its Advanced Metering Infrastructure. This technology will help pinpoint outages, decreasing the response time and assisting crews in restoring electricity. Reliability is paramount for our members and a fundamental part of our mission.

New Corporate Campus

As the communities in MTEMC’s four-county service territory continue to grow, the need for the cooperative to grow increases as well. MTEMC has taken steps to begin the development of a new corporate campus off of Veteran’s Parkway in Murfreesboro. The design of the campus will be with the member in mind, being centrally located in the service territory, and allow for growth and development as the cooperative continues to serve an increasing number of members.

MTEMC & MED: Coming Together

In the heart of Rutherford County, Murfreesboro Electric Department serves more than 56,000 customers and is surrounded by MTEMC. For many years the two utilities have been neighbors, providing service to their respective consumers. This year we asked the question, “Could we provide better service together than we can separate?” We believe the resounding answer was, “yes,” so we entered into talks with the city to explore the opportunity of coming together.

Commitment to Community

While the primary mission of the electric cooperative is to deliver reliable, affordable, safe electricity, a secondary objective has always been to make a difference in the communities we serve.

In the 1930s, it was going from community to community teaching farmers and homeowners how to use electrical appliances. In the 1960s, we began working with local high schools in the Washington Youth Tour program. In the 1970s, it was developing energy conservation programs.

MTEMC members continue to exemplify how just a few cents per month add up to make a big difference in our communities through Operation Round Up and the Customers Care Foundation. It is the power of members that make this program the success it has become, with more than $8 million going back to local communities over the past 10 years, 100% of what has been donated.

Concern for community - another way the electric cooperative distinguishes itself as something more than just an electric company.

4-H Electric Camp/4-H Electric Project

In a four-day camp on the University of Tennessee-Knoxville campus, more than 200 students participate in hands-on learning, computer training, building projects and other camp activities. The camp is a joint effort between Tennessee’s 23 rural electric cooperatives and the UT Agricultural Extension Service. In addition to the camp sponsorship, each year counties within the cooperative service area name winners who participate in the district, state and national 4-H Electric Project competition.

MTEMC Group Presentations

Throughout the year, the cooperative offers programs on electrical safety and how electricity is used to audiences of all ages. For more information about MTEMC presentations, please call 615-494-1065.

Customers Care Scholarship

Customers CareEach July, ten students from the MTEMC service area are awarded $2,000 scholarships to attend two- or four-year accredited colleges or trade schools. The scholarships, established through MTEMC’s Operation Round Up program, are based on financial need, GPA, a written essay, and community service and leadership.

Tree Wise

TreewiseEach spring, MTEMC brings an educational initiative to area students that is entirely focused on trees. Students participate in classroom activities and discussions on how to transport, plant and care for trees (as well as their importance to the environment).

Washington Youth Tour Writing Contest

Washington Youth Tour Writing Contest

Each year, high school juniors from MTEMC’s service area write an original essay about rural cooperatives to compete for school, county, area and statewide prizes. In June, winning students from MTEMC’s service area receive an all-expenses-paid trip to Washington, D.C., to participate with other finalists from around the nation.

Youth Leadership Summit

Two students from each of the 23 rural electric cooperatives in Tennessee receive an all-expenses-paid trip to the three-day summit in Nashville. Participation in the summit includes visits to the Legislative Plaza, the state Senate and House of Representatives, and a tour of the Capitol, in addition to leadership development and cooperative learning sessions.

Online Home Energy Evaluations

MTEMC offers an easy way for members to learn how to increase energy efficiency and save money - energy evaluations. Members can get started by going online to mtemc.com for a quick online energy evaluation that reveals how each home uses - and loses - energy.

Green Power Switch

Green Power SwitchThis program brings green power to the MTEMC service area, making a difference in the amount and type of energy used. Residential, commercial and industrial members can purchase 150 kilowatt-hour blocks for $4 a block, with no limit on the amount of blocks purchased. It’s an investment in power generated by cleaner sources - and just two blocks of energy purchased each month is the equivalent of planting an acre of trees in the Tennessee Valley.

Energy Right® Certified Platinum

EnergystarMTEMC’s energy efficiency plan for new homes - Energy Right Certified Platinum - gives members cash-back incentives for building more efficient homes. Homes must include proper insulation, an energy- efficient heating and cooling system, high- performance windows and Energy Star® rated appliances. Homeowners must work with a trained inspector who will do a final review of the home before certification is met. Members can contact their district Energy Services Coordinator for more information on the program.

Green Homes Plus

Green Homes PlusMembers can reap extra money-saving benefits by committing to energy efficiency with MTEMC’s Green Homes Plus initiative, which rewards members who build their homes to be environmentally friendly.

EnergyRight® Solutions for Business

Electricity is essential to the success of your business and using electricity efficiently saves you money while conserving natural resources and preserving our environment. Our EnergyRight® Solutions for Business program offers cash incentives for installing energy-saving equipment.

If your business has an electrical demand of 5,000 kW and less, you may qualify for this program. Find out more information regarding the program and access its applications at EnergyRight® Solutions, How To Get Started.

Renewable Energy

Middle Tennessee Electric partners with the Tennessee Valley Authority to offer its members renewable energy options. Currently, the cooperative has systems that range in design capacity from 1.8 kilowatts to 1 megawatts ­­- totaling more than 5 megawatts of distributed renewable generation on the system. Renewable energy projects include those that generate electricity through solar, wind and other resources.

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meters served

MTEMC Committed to Employee and Community Safety

A Brighter Future

The future of MTEMC is bright. We are laying foundations now that will pay dividends in the future. As our members begin to ask important questions, we want to be in a position to not only provide good answers, but to also provide them outstanding service. We are your family, friends and neighbors; we are a cooperative and we are here to serve you.

By the Numbers

Average Annual Price Increase over the Last Decade

Electricity 3.2%
Gas 11.1%
Eggs 7.8%
Apples 4.8%
Orange Juice 3.6%
Bread 3.4%
Source: U.S. Bureau of Labor Statistics Consumer Price Index 12-month percent change averaged from 2002 through 2012
MTEMC's member growth since 1936

Electricity Remains A Great Value

Annual Financial Report

  2011 2012 2013 2014 2015
Income Statement
Total Revenue 526,444,173 511,459,466 525,686,132 553,468,966 559,626,576
Power bought from TVA 419,650,460 413,906,130 414,206,693 440,257,233 451,830,815
Operations and maintenance 52,901,230 55,544,519 58,976,804 62,423,508 69,140,028
Depreciation and acquisition adjustment 18,001,530 20,669,966 21,805,900 23,301,637 22,776,205
Interest on borrowed money 3,372,864 3,089,681 2,899,218 2,827,332 2,988,446
Total Operating Expense, Purchased Power, and Debt Expense 493,926,084 493,210,296 497,888,615 528,809,710 546,735,494
Net margins 32,518,089 18,249,170 27,797,517 24,659,256 12,891,082
Principal payments on loans 4,784,522 4,145,448 3,228,690 2,489,896 3,323,697
Balance after Principal Payments 27,733,567 14,103,722 24,568,827 22,169,360 9,567,385
Balance Sheet
Assets
General funds and working capital 32,934,315 57,820,281 58,942,116 80,957,297 91,095,333
CFC certificates and other investments 5,445,238 5,615,958 5,757,590 5,940,158 6,136,650
Renewal and replacement funds 788,920 590,925 590,925 591,925 593,015
Bills due us 70,150,954 68,184,616 83,301,848 87,781,559 85,769,265
Materials on hand 3,988,214 4,050,648 3,510,796 3,446,893 3,158,547
Payments in advance 1,686,106 1,955,664 1,766,493 1,968,136 2,176,207
Electric lines and property less depreciation 350,777,397 351,141,498 359,410,368 369,092,050 395,853,614
Total Assets 465,771,144 489,359,590 513,280,136 549,778,018 584,782,631
Liabilities
Bills we owe 46,847,505 53,983,804 50,028,696 54,261,549 55,972,370
Consumer deposits 9,541,637 10,541,402 11,663,143 12,334,271 13,410,436
Accrued taxes 2,413,726 2,531,862 2,529,723 2,575,195 2,592,453
Long-term debt to RUS, CFC, and others 89,567,677 93,782,752 95,434,787 106,982,159 125,323,547
Total Liabilities 148,370,545 160,839,820 159,656,349 176,153,174 197,298,806
Net Worth
Earnings reinvested in system - prior year 284,882,510 310,270,600 325,826,270 348,965,587 374,592,743
Earnings reinvested in system - current year 32,518,089 18,249,170 27,797,517 24,659,257 12,891,082
Total Net Worth 317,400,599 328,519,770 353,623,787 373,624,844 387,483,825
Total Liabilities and Net Worth 465,771,144 489,359,590 513,280,136 549,778,018 584,782,631

 

Statistical Report

  2011 2012 2013 2014 2015
Statistical Information
Number of Members Served 185,905 190,750 194,770 200,511 206,428
Total Miles of Line Energized 10,393 10,470 10,562 10,682 10,810
Number of Distribution Substations 32 34 34 34 34
System Electrical Demand in Kilowatts 1,313,747 1,325,623 1,277,948 1,432,287 1,410,182
Total Kilowatt Hours Purchased by MTEMC 5,945,951,826 5,411,752,350 5,523,081,659 5,832,512,242 5,961,562,707
Cost of Power $419,650,460 $413,906,130 $414,206,693 $440,257,233 $451,830,815
Total Kilowatt Hours Used by All Members 5,581,441,597 5,211,835,138 5,386,766,372 5,675,718,622 5,757,505,879
Total Electric Revenue $514,741,064 $500,267,614 $514,430,391 $540,342,184 $547,468,724
Uncollectible Accounts 0.27% 0.18% 0.16% 0.12% 0.13%
*Times Interest Earning Ratio (TIER) 10.64 8.17 10.59 9.72 5.31
Percent of Line Losses 6.13% 4.59% 2.47% 2.69% 3.42%
Average Cost per Kilowatt Hour Purchased Power 7.06 cents 7.58 cents 7.50 cents 7.55 cents 7.58 cents
Average Cost per Kilowatt Hour to Member 9.22 cents 9.58 cents 9.57 cents 9.48 cents 9.49 cents
Average Monthly Residential Electric Bill $151.94 $139.65 $143.21 $147.37 $143.73
Plant Investment per Service $2,782 $2,780 $2,839 $2,889 $3,006
Number of Employees 377 370 370 393 400
Member to Employee Ratio 493 516 526 510 516
Provided financial information is the unaudited information for FY2015.

* TIER - Times Interest Earning Ratio - The ability of MTEMC to pay interest on its debt is determined by this ratio.
MTEMC presently is able to pay interest on its long-term debt 10.59 times.

Your MTEMC...Providing Affordable, Reliable, Safe Electricity and Outstanding Member Service