January CEO Column - Staying dedicated to you, amid rising costs

At Farmers RECC, our mission is to provide reliable and competitively priced energy and services that will enhance the quality of life for our member-owners and communities. For 86 years we have worked to keep costs affordable, striving to balance the needs of our members with the challenges of rising energy prices. 

In recent years, new federal regulations have introduced additional pressures that impact electricity prices. For example, residents in states like California and Massachusetts are already paying significantly more for electricity. This is partly due to the closure of reliable power plants and the rapid transition to renewable energy sources and other expensive energy options while not keeping up with the growing demand for electricity. 

Kentucky is now facing similar challenges. Federal policies aimed at reducing carbon dioxide (CO2) emissions are leading to new requirements for power plants, which will mean higher costs for co-op members. For example, the EPA has proposed measures that would require the capture the transport of CO2 emissions from power plants in Kentucky. While these efforts aim to reduce emissions, they also drive-up electricity costs. 

Farmers RECC, and our power provider, East Kentucky Power Cooperative have been reducing CO2 emissions for over a decade. As you will see in this issue, EKPC is planning for the future with multiple generation projects, to ensure our member's energy needs will be met while continuing to be conscious of the impact to our environment. We believe that over time, improvements in technology and maintain a diversified generation portfolio will bring lower power plant CO2 emissions while keeping the lights on at a cost everybody can afford. 

Alongside electric cooperatives across the nation, Farmers RECC continues to fight to maintain our reliable service and deliver affordable electricity - ensuring we continue to fulfill our mission for our members and the community we serve.