Central Electric Cooperative’s board of directors recently approved approximately $1.28 million in capital credit general retirements, refunding past margins to cooperative members. The refunds include approximately $600,000 of Central Electric Cooperative capital credits, $182,361 of East River Electric Power Cooperative capital credits and $498,477 of Basin Electric Power Cooperative capital credits. On top of that, the cooperative has also refunded approximately $174,800 in capital credits to estates, bringing total retirements to $1.45 million.
Revenue margins earned by the cooperative are allocated back to members as capital credits in proportion to the amount of electricity that was billed during the years being retired. Because capital credits are based on electricity purchases, each member’s refund amount is different.
Members with active Central Electric accounts receive their refund as a credit on their November bills mailed in December. Inactive members are mailed a check to the current address on file. Former co-op members should contact Central Electric to ensure capital credit payments are sent to the correct address. Please keep a copy of capital credit retirements for your records.
Capital credits are fundamental to the cooperative business model. They are a financial benefit for the membership and ensure strong financial standing. If you have questions, contact the office or visit our website at www.centralec.coop/capital-credits to view a list of frequently asked questions.