Did you know?
When you signed up to receive service from Piedmont Electric, you became a member of our co-op. While investor-owned utilities return a portion of any profits back to their shareholders, electric co-ops operate on an at-cost basis. That means that when we collect more funds than we need to operate, we gladly return those funds to you, our members, based on how much electricity you purchased during a year.
How Do Capital Credits Work?
We track how much electricity you buy and how much money you pay for it throughout the year. At the end of the year, we analyze our finances and determine whether there are excess funds. In order to be financially responsible and ensure the bright future of the co-op, our board of directors will decide when to return each year’s capital credits back to our members. We distribute the extra funds to you as capital credits based on your usage during that specific year. Each December, we will notify you if and when you will receive your capital credits!
Unclaimed Capital Credits
There are currently a large number of unclaimed capital credits. When we are unable to track down a former member within four years, we are required by law to turn the money over to the state of North Carolina. You are still eligible to receive these credits, but must contact the state treasurer’s office to do so.
Former members may have unclaimed capital credits. To check to see if anyone you know is owed capital credits, please visit: pemc.coop/capitalcredit