What Boone REMC does

Boone Power, legally Boone County Rural Electric Membership Corporation, is a member-owned electric cooperative headquartered in Lebanon, Indiana, founded in 1935 as Indiana's first electric cooperative and the second REA-funded cooperative in the United States to energize power lines. The cooperative distributes electricity to nearly 20,000 meters across Boone County and portions of Clinton, Montgomery, Hendricks, and Hamilton Counties in central Indiana through owned infrastructure including overhead power lines, transformers, and smart metering systems. In 2025, the cooperative rebranded from Boone REMC to Boone Power to mark its 90th anniversary, and is currently constructing a new facility to support continued growth.

The cooperative's product platform is anchored by SmartHub, a member-facing account management system available via web and mobile app that integrates bill payment, autopay, paperless billing, budget billing, energy usage tracking, and outage reporting. Additional offerings include capital credits patronage returns, Time-of-Use pilot pricing, renewable energy options (EnviroWatts green power, Co-op Solar community solar, Net Metering), the Operation Round Up community grant program, energy advising services, and energy efficiency rebates through the POWER MOVES program. Wholesale power is procured through Wabash Valley Power Alliance, a generation and transmission cooperative of which Boone Power is a member-owner.

As a not-for-profit cooperative, Boone Power sets rates to cover operating costs, debt service, and reserves rather than generate returns for outside investors. Revenue is generated primarily through usage-based electricity sales to residential and commercial members, supplemented by connection fees, subdivision impact fees, and voluntary subscription programs. The cooperative is governed by a nine-member elected board and operates with one-member-one-vote democratic governance. Members experience 65% less outage time than neighboring investor-owned utility customers, and 87% report satisfaction with reliability.

Name

Boone REMC

Legal name

Boone County Rural Electric Membership Corporation

Website

https://bremc.com

Company type

Private

Founded year

1935

Operating status

Operating

Headcount range

11–50 employees

Short description

Boone Power is a member-owned electric cooperative distributing electricity to nearly 20,000 meters across Boone County and surrounding central Indiana counties through owned distribution infrastructure and the SmartHub member management platform.

Ownership category

akta.pro rank

Product category

Electric Distribution / Rural Electric Cooperative

NAICS

Electric Power Generation, Transmission and Distribution (2211)

SIC

Electric Services (4911)

akta.pro primary industry

Electric Cooperatives (Rural/Member-Owned Utilities) (EUADABAC)

Keywords

• Electric distribution services
• Member-owned cooperative
• Rural electric utility
• Electricity distribution
• Energy cooperative

Headquarters

HQ city

Lebanon

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Electricity Sales: Boone Power generates revenue through electricity sales to residential and commercial members. Members are billed based on kilowatt-hours consumed at regulated rate structures. As a not-for-profit cooperative, rates are designed to cover operating costs, not generate returns for outside investors.
2. Connection and Construction Fees: Fees charged for new service connections, including permanent connection fees ($700), temporary service fees ($100), subdivision impact fees ($1,400 per lot), and contribution-in-aid-of-construction for infrastructure extensions.
3. Operation Round Up Program: Voluntary program where members round up their monthly electric bills to the nearest dollar. Collected funds are placed into a 501(c)(3) trust and disbursed as community grants through an independent board of trustees.
4. EnviroWatts Green Power Rate: Members can opt to pay $0.015 more per kWh to support alternative energy generation like landfill gas and wind.
5. Co-op Solar Program: Members purchase solar blocks at $0.42 per block per month. Each block produces approximately 43 kWh per month. Members can purchase up to 83 blocks.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels9 records

Core offering

Boone REMC (doing business as Boone Power) is a member-owned, not-for-profit electric cooperative that distributes electricity to nearly 20,000 meters across Boone County and portions of adjacent counties in central Indiana. The cooperative sells electricity at cost-based rates, provides member services through the SmartHub account management platform, offers renewable energy programs, energy efficiency rebates, and runs community grant initiatives funded through member contributions.

Product overview

Boone Power is a member-owned electric cooperative providing electricity distribution to nearly 20,000 meters in Boone County and surrounding Indiana counties. The company's product portfolio centers on SmartHub, a unified account management platform available via web and mobile app that serves as the primary interface for member services. SmartHub integrates core billing functions (payment, autopay, paperless billing, budget billing) with energy monitoring tools and outage management. Additional modules include Time-of-Use rate programs for variable pricing, renewable energy options (EnviroWatts green power, Co-op Solar community solar, Net Metering for distributed generation), capital credits/patronage disbursements, Operation Round Up community grants, Energy Advisor consultation services, and ENERGY STAR rebates through the POWER MOVES program. The cooperative also offers youth programs including Camp Kilowatt, Youth Tour, and scholarships.

Differentiator

Problem solved

Functional benefit

Products and services

• SmartHub Account Management

Quantifiable outcome

• Members experience 65% less outage time than investor-owned utility customers (1 hr 40 min vs 4 hr 43 min annually)
• +2 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Partnerships

Five partnerships are on record, tiered core and minor.

• Wabash Valley Power Alliance (WVPA)coreStrategic or Co-development PartnerWVPA is Boone Power's wholesale power provider and generation/transmission cooperative partner. As a G&T cooperative, WVPA produces energy and delivers it to Boone Power. Boone Power passes through wholesale energy charges to members. Boone Power is a member-owner of WVPA and receives capital credits from WVPA when margins permit. WVPA secures electricity needs and aligns large loads with dedicated wholesale power resources.
• Duke Energy IndianaminorStrategic or Co-development PartnerService area boundary coordination. Boone Power and Duke Energy Indiana have filed joint petitions with the Indiana Utility Regulatory Commission to modify service area boundaries in areas of Boone County and Hamilton County.
• City of Lebanon UtilitiesminorStrategic or Co-development PartnerService area boundary coordination. Joint petition filed with Indiana Utility Regulatory Commission to modify service area boundaries in Center Township of Boone County.
• Indiana Electric CooperativesminorGTM or Marketing PartnerStatewide association of electric cooperatives. Boone Power participates in cooperative programs including Youth Power and Hope Awards, Indiana Connection magazine, Youth Tour to Washington D.C., and Camp Kilowatt.
• Hussey-Mayfield Memorial Public LibraryminorGTM or Marketing PartnerWhitestown Branch features the Boone REMC Recording Studio, funded through Operation Round Up grant. Boone Power hosts member events at the library location.

Scale indicators13 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Tipmont REMC: Indiana member-owned electric cooperative serving rural and suburban members in Tippecanoe and surrounding counties. Closely comparable in cooperative structure, distribution-only model, SmartHub deployment, and member engagement programs.
• Hendricks Power Cooperative: Indiana electric cooperative serving Hendricks County and adjacent areas — directly adjacent to Boone Power's service territory and a near-mirror in customer mix, governance model, and program offerings.
• South Central Indiana REMC (SCI REMC): Indiana rural electric cooperative with similar meter scale and suburban-rural territory profile. Comparable on distribution operations, TOU/renewable programs, and member-owned capital structure.
• Jackson County REMC: Indiana electric cooperative serving rural southern Indiana. Comparable in cooperative governance, SmartHub-style member platform, and community grant programs (Operation Round Up equivalent).
• NineStar Connect: Indiana cooperative utility offering electric distribution alongside broadband services. Comparable on electric cooperative economics, member engagement, and digital service platform investment.
• Bartholomew County REMC: Indiana rural electric cooperative of similar scale serving Bartholomew County. Comparable on cooperative distribution model, rebate/energy-efficiency programs, and SmartHub-style account tools.

Others

• Wabash Valley Power Alliance: Generation & Transmission cooperative that supplies wholesale power to Boone Power and other Indiana member co-ops. Comparable as a cooperative in the same value chain; a strategic partner rather than direct competitor.
• Indiana Electric Cooperatives: Statewide trade association for Indiana electric co-ops, of which Boone Power is a member. Comparable as a peer organization driving shared programs (Youth Tour, Camp Kilowatt, Indiana Connection magazine) and cooperative advocacy.

Broad incumbents

• Duke Energy Indiana: Investor-owned utility serving overlapping and adjacent Indiana territory. Comparable in electric distribution, but a much larger IOU with generation assets and active boundary-petition interaction with Boone Power.
• AES Indiana (formerly IPL): Investor-owned Indiana electric utility. Comparable on regulated electric distribution in Indiana, but materially larger, vertically integrated with generation, and operates under IOU economics rather than cooperative economics.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/BooneREMC
• YouTubeyoutube.com/@boonepower
• Facebookfacebook.com/BooneREMC
• LinkedInlinkedin.com/company/boone-remc
• Instagraminstagram.com/boonepower

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Boone REMC