PEC returns $10 million in capital credits to members
The Pedernales Electric Cooperative regularly adjusts rates based on ERCOT market conditions. ERCOT is the grid operator for 90 percent of Texas. File photo
The Pedernales Electric Cooperative is returning $10 million in capital credits to current and former members, with distributions appearing on January electric bills.
The PEC Board of Directors approved the distribution at its Dec. 19 meeting. The capital credits apply to members who accumulated credits between 1995 and 2024. The average distribution is about $22 per member, though individual amounts vary.
“Seeing a capital credit on your bill once a year is one of the many benefits of belonging to a member-owned, nonprofit electric cooperative,” PEC spokesperson Kendra Acosta told DailyTrib. “We’re proud to give back to our members and doing so is part of our cooperative difference.”
As a nonprofit, member-owned electric cooperative, PEC does not earn profits for shareholders. Instead, any positive margins are reinvested into infrastructure or returned to members as capital credits. The amount each member receives is based on electricity usage and can vary from year to year. The board determines what portion of margins is distributed.
Current members will see their capital credits listed as bill credits on their January statements. Members with multiple accounts will receive a summary of all credits on one bill. Former members with distributions totaling more than $10 will receive a check.
More information about PEC’s capital credits program is available on the PEC website. Members with questions can call PEC’s dedicated capital credits line at 800-230-2007, Monday through Friday, from 8 a.m. to 5 p.m.