HF Counties RECC and Gibson EMC Continue Consolidation Study
The Hickman-Fulton Counties RECC (HFRECC) and Gibson Electric Membership Corporation (Gibson EMC) boards have completed a preliminary financial review and have independently voted on behalf of their memberships to proceed with an in-depth consolidation study. The study will include organizational, management, legal, economic, and financial analyses, along with integration planning. HFRECC also completed a preliminary financial review with West Kentucky Rural Electric Cooperative.
HFRECC Board Chairman David Kimbell said, “We value our relationship with West Kentucky Rural Electric Cooperative, but we feel it is in our members’ best interest to move forward with Gibson EMC for the next phase of the consolidation study. We have been working closely with Gibson EMC for years on information technology and fiber system projects that have benefitted our members,” Kimbell said. “We believe a consolidation with Gibson EMC could further benefit our members through improved reliability, lower rates and expanded services.” Kimbell said that it is too early in the process to provide specific information about these areas, but explained that the in-depth study will provide the factual information that the boards can evaluate and communicate to their cooperative memberships.