2022 ANNUAL REPORT
TO THE MEMBERSHIP OF
ALCORN COUNTY ELECTRIC POWER ASSOCIATION
August 9, 2022
Welcome to the 88th Annual Meeting of the membership of the Alcorn County Electric Power Association. This year like all others, was full of opportunities for our employees to exhibit their dedication and hard work. Unfortunately, the year began with a serious injury to one of our own; an employee was severely injured when he was struck on the head and back by an auger. As a result, he received injuries to his head, chest, face, and wrist. However, due to a quick response from his coworkers, hard work on his part, and the blessings of God, he returned to work four months later and today is doing fine.
In October, ACE celebrated the unveiling of a historical marker from the Mississippi Department of Archives and History recognizing ACE as the first electric cooperative in the Nation. On October 19, we had TVA CEO Jeff Lyash, Public Service Commissioner Brandon Presley, and many others on site for this historic occasion.
This year we sent crews to assist Tishomingo County EPA in storm restoration in August and to Magnolia EPA in September for storm restoration. Then in April, after the Easter storm hit the ACE service area, we received help from Prentiss County EPA, Tishomingo County EPA, Tombigbee EPA, and Asplundh. These crews came in and assisted our crews in the restoration of power that took from Wednesday until late Saturday.
The fiber optic backbone ACE had been working to construct was completed in late December, and now ACE Fiber has the ability to provide world-class, high-speed broadband service to the entirety of the Alcorn County Electric Power Association service territory. This project not only came in ahead of schedule but also under budget. At this time, ACE Fiber has about 6,600 customers and continues to have a steady growth.
The Association’s financials continue to be strong, with assets growing by 4% to $109,974,423.97, the electric plant grew by 9% to $130,340,451.97, and total sales were $57,060,111.25 and the cost of power this year was $41,491,563.06.
In closing, I would like to take just a moment to recognize the members of the ACE family we lost this year. Bobby “Doc” Stewart, Tree Trimmer, passed away February 20, 2022; Bob McAfee, retired Lineman, passed away January 24, 2022; Martha Young, retired New Accounts Clerk, passed away July 14, 2022; and former ACE Board member Lex Rhodes passed away January 28, 2022. These are gone but not forgotten.
With that, let me thank you for coming, and as always, thank you and our Board of Directors for your continued support.
Eddie Howard, CEO