East Central Energy will return $4 million to members this fall in the form of capital credits refunds. Members will see their refund reflected on their bill due in December.
The ECE Board of Directors recently announced the refund, which includes all accumulated capital credits from 1993, a portion of 1994, and a percentage of all other years allocated to members. The refund brings the total returned over time to $78 million.
Eligible members will see a bold blue line on their billing statement that says, "Capital Credits Refund," designating the amount of their refund. The bill will be reduced by the amount shown on this line.
Members participate economically in the success of their cooperative. They help provide the capital that allows ECE to safely deliver electricity. When there is a margin over the cost to operate, a portion is allocated to members, based primarily on their kWh use and cost of basic service.
The allocated dollars are put into each member's capital credits account. The board of directors determines annually if there will be a refund, and if so, what portion of members' capital credits can be refunded.
Most members of ECE for more than one year will receive a capital credits refund on their bill. Members who have moved off the ECE system may receive a capital credits refund check, which will be mailed to the address ECE has on file. If members believe the co-op doesn't have their current address, call 800-254-7944.