Capital credit checks coming your way
When you signed up to receive electric service from Central Electric, you became a member-owner of an electric utility.
While investor-owned utilities return their profits back to shareholders, electric co-ops operate as close to at-cost as possible and return any margins back to the members. When the co-op’s financial condition permits, capital credits are returned in the form of checks or bill credits.
During this year’s Annual Meeting of the Members, CEO & General Manager Eddie Oldham announced a retirement of capital credits approved by the Board of Directors. This year will mark 16 years in a row that capital credits have been retired. During this time frame, over $18 million will have been returned to members.
This year, the co-op is giving back $1.1 million and members who received service from the cooperative during 2006 will be receiving a capital credit retirement check. Retirement amounts greater than $25 will be issued a check, while all others will be applied as a bill credit. Look for your retirement check to arrive by the first week of December!