Pennyrile Electric hosted their annual business meeting Tuesday afternoon and heard updates from President and CEO Alan Gates.
President Gates says Pennyrile Electric had a strong year, and were able to reach more customers than ever during their membership appreciation events, seeing nearly 4,000 of their members from across the region. He says they continue to expand fiber broadband internet to the communities they serve, which he says wouldn’t be possible without regional partnerships.
Gates says due to inflation and increases in material costs, they are expecting a rate adjustment, with more information to come in the coming months.
Anna Herr from Duiguid, Gentry and Associates presented the audit report, giving Pennyrile Electric a ‘clean opinion’ on their audit.
Results of the Board of Directors election were announced, with Duane E. Moore representing the Western District, Bryson Price representing the Eastern District and James L. Futrell representing the Cumberland District. They will serve three-year terms.