POWERING VALUE
Built for Today.
Ready for What’s Next.
At Rappahannock Electric Cooperative (REC), we're owned by those we serve. That means every decision we make reflects the trust you place in us.
While the world continues to change, we remain focused on what matters most: reliability, affordability, growth and value through your membership.
Reliability: Electricity is something you depend on without thinking about it, until the moment you need it most. That's why we work hard to ensure reliable electric service is always there for you — because reliability doesn't happen by chance.
In 2025, we invested significantly to make REC's electric system strong and resilient for years to come. The work varied widely: completing 48 major grid improvement projects, inspecting more than 116,000 service points and assets, replacing 6,400 poles, removing 2,400 hazard trees and clearing 1,800 miles of right-of-way. The purpose was the same: being prepared when it matters most. The results spoke for themselves in early 2026, when REC members weathered two significant storms: a wintry one that created virtually no outages and another, a wind event, that tested the system more directly and drew a quick, capable response from Cooperative crews.
Affordability: We know cost matters — especially for families, those on fixed incomes and small businesses. This past year, many of you have had to make tough choices — stretching household budgets, adjusting to rising costs and navigating uncertainty in ways that don't always feel within your control. While increasing energy demand is the biggest factor driving up costs, REC stayed disciplined in our operations and looked for smart, innovative solutions to save members money. We strengthened our stand that new, large-load members shouldn’t shift unnecessary risk or cost onto existing members by filing for a special rate for large power, dedicated facilities members with the State Corporation Commission. Through our subsidiary, Hyperscale Energy Services, REC shielded members from the costs incurred to serve large-scale energy users. Through the growing success of another affiliate, BrilliT, REC secured world-class IT services at a reduced expense.
We also continued offering programs that create real value. Last year, a record number of members participated in the Summer Savings Plan, reducing energy using during high-cost “peak” hours. Together, they helped the Cooperative avoid $335,287 in wholesale power costs while each earning a monthly bill credit. Amid rising prices, we remain focused on delivering reliable and affordable power.
Growth: Our region continues to grow, bringing opportunity, but also bringing new demands on the system we all share. As a regulated electric cooperative, REC has an obligation to serve. Just as important, we have a responsibility to ensure growth is managed fairly and sustainably for all members. In 2025, REC connected nearly 4,000 new member-owners across our 22-county service territory as we welcomed new homes, expanding businesses, major economic development opportunities and large energy users. We also proudly supported the power needs of companies bringing hundreds of jobs and significant investments to our area, like the Kalahari Resort opening this year in Spotsylvania and the AstraZeneca pharmaceutical manufacturing plant coming to Albemarle County. Throughout 2025, the REC team continued work on design, procurement and construction of multiple dedicated substations to serve hyperscale data centers. REC is ensuring that “growth pays for growth,” and we’re supporting our communities’ growth with reliable power.
Member Value: The cooperative difference is about more than delivering electricity, it’s about providing value to the people who own this organization. In 2025, REC’s Board approved returning $8.1 million in capital credits to member-owners. We worked to make the value of membership visible and useful through programs and helpful tools like expanding Vividly Brighter energy services that improve quality of life and peace of mind. And we demonstrated the cooperative principle of concern for community, supporting 407 events and reinvesting more than $376,000 through corporate and employee giving. We understand member needs are evolving and we’re committed to listening, improving and meeting you where you are.
As you read this report, we hope you see more than a list of numbers and projects. We hope you see a Cooperative focused on making thoughtful decisions in a time of rapid change by balancing today’s realities with long-term responsibility. Most importantly, we hope you see our continued commitment to powering value for you.
Thank you for your trust, your engagement and your membership.
Christopher G. Shipe
Board Chairman
John D. Hewa
President & CEO