Gibson EMC and Hickman-Fulton Counties RECC Consider Merger/Consolidation
Gibson Electric Membership Corporation and Hickman-Fulton Counties RECC boards are currently in discussions regarding a possible merger/consolidation.
The two cooperatives have been working closely together for years on joint projects including information technology and fiber systems. With the recent resignation of Hickman-Fulton RECC President and CEO Greg Grissom to become President/CEO of Pennyrile Electric, leadership of the two systems have agreed that now is a good time to explore the opportunity of an expanded and long-term working relationship.
The boards of both cooperatives met in December and authorized a preliminary financial study. They also agreed that a merger/consolidation would only be considered if it ultimately would save members money through economies of scale, protect local jobs -including those held by the employees of both systems, and create a better utility through the expansion of resources and expertise.
The electric systems of Gibson EMC and Hickman-Fulton RECC connect along the Tennessee and Kentucky border. Hickman-Fulton Counties RECC serves about 3,700 residents and businesses in Fulton, Hickman, Carlisle and Graves counties in Western Kentucky and portions of Obion and Lake counties in Northwest Tennessee. Gibson EMC serves about 35,000 members in parts of eight Northwest Tennessee counties (Crockett, Dyer, Gibson, Haywood, Lake, Lauderdale, Obion and Madison).