At press time, Tideland EMC’s board of directors was scheduled to meet to vote on a general retirement of previously allocated member margins. If approved, members who received service in 1990 are likely to see a credit on their December electric bill. Individual refunds are expected to be quite modest this year as the co-op navigates higher operating expenses associated with capital improvement projects and costs related to Duke Energy’s coal ash remediation efforts.

As a not-for-profit, member-owned cooperative, Tideland provides service at cost. Any funds remaining after expenses have been paid are eventually returned to members through a series of capital credit refunds. The financial health of the co-op and outstanding obligations are among the factors our board of directors consider when determining the amount of a general retirement.

The amount of any general retirement must also take into account margins already paid out during the year to the estates of deceased members. We anticipate approximately $450,000 will be refunded to estates by year end 2017.

Members are reminded to keep the co-op up-to-date with future address changes should you ever leave the Tideland system. Unclaimed capital credit refunds must be escheated to the NC State Treasurer.