Money is coming back to members this May thanks to a capital credits retirement of more than $5 million approved by your Board of Directors!
Checks begin mailing on May 6, so be sure to check your mailbox! Members qualifying for a $35 or more refund will be mailed a check separate from their electric bill. Those qualifying for less will see it as a credit to their electric account in May. Members new to the cooperative as of 2019 will be eligible for capital credit refunds beginning next year.
Checks begin mailing on May 6, so be sure to check your mailbox!
As a cooperative, Blue Ridge Energy doesn’t earn profits. Instead, revenues remaining after all expenses are paid each year are considered “margins.” Margins are allocated annually to members and reflect your member equity (ownership) in the cooperative.
After being used for a period of years as capital to help finance reliability projects, these funds are returned to members.
This process helps reduce the need for loans, which, in turn, helps keep your electricity rates lower. It also helps maintain a healthy balance between debt and equity to ensure your cooperative’s financial health and stability.
The percentage of equity to be retired and refunded to members is determined annually by your Board of Directors based on your cooperative’s financial condition. This year, the percentage is three percent.
Over the history of Blue Ridge Energy, more than $69 million has been returned to members.