PEC to give back $8.6 million in capital credits to members
FROM STAFF REPORTS
JOHNSON CITY — As a way to pass along “profits” to customers, Pedernales Electric Cooperative officials will distribute $8.6 million in capital credits to members in their December bills.
Since the cooperative is owned by members, the PEC board assesses the amount of revenues that exceed expenditures and determines how much of the excess to give back to customers.
“A capital credit distribution is a great benefit and a way for our members to share in the success of the cooperative,” PEC Controller Freddy Wolff said in a media release.
According to the PEC release, distribution will be conducted as follows:
• Members with multiple accounts will receive all their credits on a single account’s bill.
• Former members with capital credit distributions totaling more than $10 will receive a check.
• A check may be issued for any distribution under $10 by request or when accumulated unpaid distributions exceed $10.
• Former members are encouraged to contact PEC to ensure their current address is on file.
Additional information is also available at pec.coop/capital-credits or by calling 1-800-230-2207.