Chimney Rock is a not-for-profit political subdivision of the State of Nebraska and subject to laws enacted by the legislature. Nebraska is the only state in the U.S. that is 100 percent public power, which means local control and electric rates that are lower than the national average.
The advantages of public power are many. Since there are no stockholders, dividends are reinvested in the system. Profit as such is not required, however, a certain margin is to satisfy bond indentures and meet operating needs. Financing is available through tax exempt bonding and as a public entity, no property tax is paid. (We pay In-lieu of taxes instead of property tax)
Unlike electric cooperatives, which have capital credits, and periodically retire some of them, public power districts do not. All of these factors combined have created some of the lowest electric rates in the nation, with service that meets and exceeds customers' expectation.