In case you missed it at the Annual Meeting, the Board of Directors approved a special $1.5 million retirement of capital credits. This is in addition to the almost $1.7 million retired in December of 2017. Members should see the credit on their bill in June.
In April, you'll notice special number on the front of your bill. This is your capital credit allocation. Capital credits are one of the benefits of being a Trico Member.
When you signed up to receive electric service from Trico, you became a Member of the Cooperative. While investor-owned utilities return a portion of any profits back to their investors, electric cooperatives allocate excess revenue to Members as “capital credits.”
Electric co-ops operate at cost, collecting enough money to pay operating costs, make payments on any loans and provide for emergencies. At the end of the year, we subtract operating expenses from the operating revenue collected during the year. When Trico has money left over, it’s allocated back to you and other Members as capital credits.
Each year, the Trico Board of Directors makes a decision on whether to retire a portion of capital credits. The amount of capital credits retired (paid out) in any year depends upon the financial health and cash needs of the cooperative.
How are capital credits determined?
Every summer, your capital credit allocation is determined and noted on your monthly electric bill based on the amount of kilowatt-hours you used for the prior year.
If you move or no longer have service, Trico must have your current address in order to send you capital credit notices and refunds in the future.
What happens when capital credit checks are not cashed?
All unclaimed capital credit funds are given to the Trico Foundation, which provides scholarships to Trico Members and their families living in Trico’s service area.
Have more questions?