By Ken Schlimgen
General Manager
(Pictured above, Central Electric employees pose with 20 youth beds they built with the non-profit Sleep In Heavenly Peace.)
The holiday season brings a spirit of generosity and compassion. It’s a time to reflect on our many blessings and uplift those in need. While this is certainly a special time of year, cooperatives like Central Electric are deeply rooted in giving back to their local communities year-round.
Central Electric and its employees are active in several communities across eight counties, dedicated to improving our way of life. We support food pantries and 4-H programs, volunteer for the United Way, provide scholarships and give to worthy causes.
You also help power our ability to enhance quality of life through Operation Round-Up. This grant program is made possible by members rounding up their electric bill to the next dollar amount. Those generous contributions add up to help support local charitable organizations and community services.
Another way your cooperative gives back is by investing in tomorrow’s leaders. Through school presentations, scholarship opportunities and the National Rural Electric Cooperative Association Youth Tour program, we aim to empower students to build a brighter future. When we invest in our local youth, we strengthen the fabric of our community.
As a not-for-profit electric cooperative, we believe in giving credit where credit is due––to the member-owners of our cooperative. One of the ways we do this is through capital credits. Because Central Electric operates at cost, we return excess money that we describe as capital credits to our members.
Here’s how capital credits work: Central Electric members use the electricity we provide and then pay their monthly bill. We track their business with the cooperative over time. The cooperative pays all operating expenses throughout the year, and if any operating revenue is left, we allocate it to every member as capital credits based on their annual electric purchases.
When financial conditions permit, the cooperative’s board of directors votes to pay a portion of the capital credits back to the members. Your cooperative either sends you a check or applies a credit to December energy bills. Capital credits are just one of the many benefits of cooperative membership. Giving back to our local members is one of the many aspects that set cooperatives apart from other types of businesses.
Our members are the reason Central Electric exists. To us, you are a member-owner. This holiday season, we hope you’re proud to be part of a community-focused cooperative that puts people before profits. From your friends at Central Electric Cooperative, we hope you have a bright and blessed holiday season.
2025 Electric Rates
Over the past several months, I have been delivering the news that wholesale electric power costs will increase in 2025 and 2026. The increase for 2025 will add more than $1.5 million to your cooperative’s expenses. Depreciation, interest, labor and maintenance expenses are also increasing, resulting in the need to adjust electric rates in January 2025.
We are still working on the budget details and will have more to share in the next issue of Cooperative Connections magazine. Until next month, stay safe.