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TeachMeFinance.com - explain Rural electric cooperative (cooperatively-owned electric utility) Rural electric cooperative (cooperatively-owned electric utility) The term 'Rural electric cooperative (cooperatively-owned electric utility)' as it applies to the area of reclamation can be defined as ' A customer-owned electric utility that was created to transmit and distribute power in rural areas. Rural electric cooperatives benefit from below-market financing from the Rural Utilities Service (formerly the Rural Electrification Administration), as well as low-cost power from federal hydroelectric projects. In addition, most do not pay state or federal income taxes. Rates for rural electric cooperatives typically are set by a board of directors elected from among the cooperative's members. Today, rural electric cooperatives serve about 11 percent of the nation's electric customers'. Previous 5 Terms: Rural Rural area Rural Business-Cooperative Service (RBS) Rural Community Advancement Program (RCAP) Rural Development Trust Fund Next 5 Terms: Rural Electric Cooperatives Rural Electrification Administration Rural Electrification Administration (REA) Rural Health Clinic Rural home loans About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005-2011 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.