NOVEC is one of the largest electric distribution cooperatives in the country. NOVEC leverages over 25 years of experience in providing electric service to Northern Virginia. NOVEC's service area covers spans Clarke, Fairfax, Fauquier, Loudoun, Prince William, and Stafford counties. This service area includes over 155,000 homes and businesses. NOVEC has grown to support the ever-increasing population in the Northern Virginia area.
Population in Fairfax County has grown by over 100% in the past 40 years. This growth leads to an increased demand on power suppliers and providers. Increases in commercial business further add to the increased power demand. At the beginning of the 20th century approximately 10% of Americans had access to electricity. Many rural areas were left without access. Cooperatives like NOVEC began to fill the gap between producers and consumers.
NOVEC does not produce the electricity they sell; rather, they purchase the electricity from power plants and transport it to their customers. This business model requires that NOVEC purchase electricity prior to production or transportation based on the estimated demand of their customers. NOVEC relies on predictive demand models in order to supply a constant and cost consistent product. Forecasting models are used in determining where to place assets and how much energy to purchase from producers.