North Carolina Electric Membership Corporation (“NCEMC”) is a generation and transmission (G&T) co-op owned by Union Power Cooperative and other electric cooperatives in North Carolina. Just as Union Power Cooperative allocates its margins to our Members, NCEMC allocates its margins to the electric cooperatives that own it. When Union Power Cooperative receives margin allocations from NCEMC, it allocates those margins to Union Power Cooperative Members, and the allocations are kept separate from the Co-op margin allocations. If at any point we receive payment from NCEMC to retire (pay) the G&T Allocations, we retire those allocations to our Members.
