Middle Tennesse Electric Membership Corporation

MTEMC 2017 Annual Report

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

President & Chairman Messages

The mission of Middle Tennessee Electric Membership Corporation (MTEMC) is to provide affordable, reliable and safe electricity through outstanding member service.

Chris Jones, President

Chris Jones

The cooperative exists solely to serve its membership and strives to be their trusted energy advisor. We are servants, above all else.

Mike Woods, Chairman

Mike Woods

The membership of the cooperative looks to Middle Tennessee Electric to provide more than just electricity; they look to the cooperative to provide energy efficient solutions while being good stewards of their money.

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
District 2C
David Lee David Lee
District 2B
Mike Woods Mike Woods
Chairman
District 2A

Williamson County

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

Wilson County

Gordon Bone Gordon Bone
District 4C
Jim Mills Jim Mills
District 4D
Tom Purkey Tom Purkey
Vice Chairman
District 4A

Director Emeritus

Dan Smith Dan Smith

Broadband / High-Speed Internet

The passing of the Tennessee Broadband Accessibility Act opened the doors for cooperatives like Middle Tennessee Electric to explore offering broadband and high-speed internet services to their members. Much like electricity in the 1930s, access to high speed internet is becoming a necessity, and MTEMC is looking at what providing those services to their members could look like.

Cooperative Solar

The one-megawatt solar array in College Grove, Tenn., was completed late last year and is currently generating electricity that is being added to the electrical grid. Participating Cooperative Solar members are participating in the generation of local, green power, while reducing the carbon footprint.

myMTEMC

Changes to the bill, an updated web portal and the new mobile app are giving members access to their data like never before. These upgrades, coupled with energy saving tips the cooperative provides, empowers members to reduce their monthly energy consumption and reduce their bill with more ease than ever before.

SharingChange

Middle Tennessee Electric is committed to making a difference in the communities it serves. In Fiscal 2016, the cooperative launched a rebranded charitable foundation, streamlining the program and offering more ways for members to participate. SharingChange was born from the successes of previous programs and continues the rich tradition of giving back 100 percent of member donations to local charitable organizations. To date, 580 charitable organizations have received more than $9 million. All of these dollars make a local impact.

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Programs to Serve Our Members

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.

Youth Programs

4-H Electric Camp

Students are selected based on participation in 4-H electric demonstrations to attend the camp at UT - Knoxville to learn about electricity and electrical safety. More information at mtemc.com/4-H-Electric-Camp.

4-H Electric Project

Students participate in local 4-H electric contests sponsored by the cooperative and give a demonstration about some phase of electrical use in the home. More information at mtemc.com/4-H-Electric-Project.

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 go to More information at mtemc.com/Education.

Tree Wise

TreewiseAn educational initiative to encourage environmental awareness and the importance of planting the right tree in the right place. More information at mtemc.com/Tree-Wise.

Washington Youth Tour Writing Contest

Washington Youth Tour Writing Contest

High school juniors are encouraged to write an original paper about rural electric cooperatives with winners awarded an all-expense paid, weeklong trip to our nation's capitol and an opportunity to win a scholarship. More information at mtemc.com/Washington-Youth-Tour.

Youth Leadership Summit

High school juniors are recommended by their school counselor based on leadership qualities and community activities to learn more about state legislature by attending an all-expense paid, three day conference in Nashville. More information at mtemc.com/Youth-Leadership-Summit.

EnergyRight Solutions for Youth

The EnergyRight Solutions for Youth (ERSY) program was developed specifically as an educational outreach service for educators with lesson plans designed for public, private, STEM and home schools as well as community groups. For more information go to mtemc.com/Energy-Right-Solutions-Youth.

Energy Services Programs

eScore

eScore is a residential energy efficiency service that provides single-family homeowners with a clear path to make their home a 10 – it's most energy efficient. The service also increases home comfort and saves you money. eScore allows homeowners to work toward a score of 10 for their home at their own pace, earning rebates on qualified energy efficiency upgrades and re-engaging with the service as many times as needed to achieve their home’s best possible energy performance. All eligible incentives are applied as a credit to your electric bill. More information at mtemc.com/eScore.

Green Power Switch

Green Power SwitchGreen Power Switch is a renewable energy initiative offering consumers in the Tennessee Valley a choice in the type power they buy. TVA and local public power companies, working with environmental community, developed the program to bring green power — electricity generated by cleaner, renewable resources such as solar, wind and methane gases — to Valley consumers. More information at mtemc.com/RenewableEnergy.

Energy Right® 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. More information at mtemc.com/myBusiness.

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. More information can be found at mtemc.com/RenewableEnergy.

New Homes Program

The New Homes Program was redesigned by TVA and local power companies, like MTEMC, to offer a suite of new HVAC and water heating equipment incentives. Incentives are available for all-electric homes, as well as homes that have gas appliances in them. The incentives are offered for both single family homes and duplexes.

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
MTEMC's member growth since 1936

Annual Financial Report

      2017 2016
Condensed Balance Sheet
Assets
Utility Plant     $690,889,318 $657,049,083
Less accumulated depreciation     (246,024,287) (232,089,004)
      444,865,031 424,960,079
 
Investments and Special Funds     8,676,975 8,588,997
 
Current Assets
Cash and Cash Equivalents     74,067,193 73,292,274
Accounts Receivable     37,593,110 38,487,210
Accrued Utility Revenue     18,492,890 21,884,397
Materials and Supplies     3,751,378 4,496,860
Other Current Assets     3,917,113 3,844,400
      137,821,684 142,005,141
 
Deferred Debits     16,536,747 18,024,432
Total Assets     $607,900,437 $593,578,649
Equities and Liabilities
Equities     $416,007,194 $398,507,504
 
Long-Term Debt and Other Long-Term Liabilities     115,336,932 112,005,000
 
Current Liabilities
Current Maturities of Long-Term Debt     5,663,737 5,432,454
Accounts Payable     47,143,864 49,526,398
Consumer Deposits     14,093,544 13,004,978
Accrued Expenses and Other Current Liabilities     9,655,166 10,368,700
      76,556,311 78,332,530
 
Deferred Credits     - 4,733,615
Total Equities and Liabilities     $607,900,437 $593,578,649
Condensed Statement of Revenue and Expense
Operating Revenue     $579,417,157 $543,855,839
Operating Expenses
Purchased Power     465,392,372 434,256,349
Distribution Operations     22,890,011 23,860,621
Distribution Maintenance     17,664,025 17,022,039
Consumer Accounts     16,517,450 18,764,716
Consumer Information/Sales     1,202,157 1,133,509
Administrative and General     12,613,137 13,305,634
Depreciation     25,676,126 24,012,946
      561,955,278 532,597,677
 
Operating Margins     17,461,879 11,258,162
 
Interest Expense     (2,518,269) (2,680,386)
 
Nonoperating Income     1,588,180 1,478,003
 
Net Margins     $16,531,790 $10,055,779

 

Statistical Report

  2017 2016 2015 2014
Statistical Information
Total Electric Sales Revenue $567,558,994 $532,808,731 $547,468,724 $540,342,184
Megawatt Hours Used by All Members 5,813,887 5,653,766 5,757,506 5,675,719
Number of Accounts Billed 219,286 212,919 206,428 200,511
Average Cost per kWh to Member 9.76 cents 9.42 cents 9.49 cents 9.48 cents
Average Monthly Residential Electric Bill $140.53 $133.71 $143.73 $147.37
Cost of Power Purchased $465,392,372 $434,256,349 $451,830,815 $440,257,233
Megawatt Hours Purchased by MTEMC 5,975,298 5,810,733 5,961,563 5,832,512
System Electrical Demand in Megawatts 1,304 1,301 1,410 1,432
Average Cost per kWh Purchased Power 7.79 cents 7.47 cents 7.58 cents 7.55 cents
Total Miles of Energized Line 11,445 10,977 10,810 10,682
Provided financial information is the unaudited information for FY2016.

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

Thank you for viewing the MTEMC 2017 Annual Report. Please enjoy the full version of the Chairman and President's Report.