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Central Virginia Electric Cooperative (CVEC) provides electric service for residential, commercial, and industrial accounts across Central Virginia. Formed in 1937 by local citizens who believed that electricity could be provided economically to the rural Virginia countryside, the Cooperative is a dynamic utility serving 33,000 account holders in 14 Virginia counties. CVEC is a member-owned, electric distribution cooperative. Each CVEC account holder is an owner and member of the Cooperative. The Cooperative operates on a not-for-profit basis, returning margins (the difference between revenues and costs) to its members through capital credits. CVEC has a tradition of keeping margins and costs low, operating as one of the lowest cost electric distributors in the state for the last three decades. CVEC has earned a reputation for independent thinking and innovative approaches to meeting its members' needs. In the last member opinion survey, more than 95 percent of the Cooperative's members gave CVEC either a good or an excellent rating in both customer service and electric service.