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An electric cooperative is:
- a private, independent electric
utility business.
- incorporated under the law of the
state in which it operates.
- established to provide at-cost
electric service.
- owned by the consumers it serves.
- governed by a board of directors
elected from the membership, which sets
policies and procedures that are
implemented by the cooperative's
professional staff.
These are the principles that
differentiate the cooperative form of
business:
- Voluntary and open membership
- Democratic member control
- Members' economic participation
- Autonomy and independence
- Education, training and
information
- Cooperation among cooperatives
- Concern for community
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