Many Tricounty Rural Electric Cooperative members will see lower electric bills around the holidays. This month, the local electric cooperative is returning over $564,000 from the prior year’s margins to more than 6,080 current and former members.
Eligible active co-op members will see a credit on their December electric bill; former members will receive a check.
As a not-for-profit, community-focused organization, Tricounty REC uses these margins for investments, such as building or replacing power lines, transformers, and other electric system upgrades to meet members’ evolving needs.
After being used as working capital, the money is returned to members. It represents each co-op member’s ownership — or equity — in his or her cooperative. Capital credits are allocated to members in proportion to the dollar amount of electricity used.
This month’s payment will go to those who used Tricounty REC’s services in 2004, 2005, and 2022.
Including this year’s capital credit retirement, Tricounty REC has returned more than $22 million to its members.
"This patronage cash back demonstrates that Tricounty members are not just customers; they are members and part-owners of their electric cooperative," said CEO Brett Perkins. "Tricounty Rural Electric Cooperative belongs to the communities we serve. Members have equity ownership in our physical assets — and receive a financial return on those assets, unlike customers of other utilities."
Anyone with questions about their capital credits refund should call the co-op at 419-256-7900.