The PEC Board of Directors approved a distribution of $12.3 million in capital credits to PEC members this year.
As a cooperative owned by its members, PEC does not earn profits. Instead, PEC invests a portion of the money it collects in rates toward strengthening the operations that power your life and then assigns the rest to you. These assigned funds are called capital credits. When financial conditions allow, we return these funds to our members — one of the many benefits of cooperative membership.
This year’s distribution will take place in accordance with our capital credits policy as follows:
- An estimated $8.3 million will be distributed to current and former members who accumulated capital credits in 2018 at a discounted distribution. Members may opt out of their discounted 2018 capital credits if they prefer, and receive the full value of those credits in a future distribution, which is estimated to be on a 30-year cycle. The full value of your accumulated capital credits for 2018 will then be returned to your capital credits account.
- Members who accumulated capital credits between 1988 and 1992 will receive an estimated $3.7 million.
- Current members are scheduled to receive distributions as credits on their December bills. Members with multiple accounts will receive all of their credits on one 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 us to ensure their current address is on file.
For more information, visit pec.coop/capital-credits. If you have additional questions, please call our capital credits line at 800-230-2207, Monday through Friday, between 8 a.m. and 5 p.m.