Capital Credit Refund from 2005 on your Nov. 3rd Bill

When you sign up to receive electric service from SCEC you become a member of our electric cooperative. Co-ops operate to provide a service at cost. Excess funds, known as margins, are allocated and refunded as capital credits to members based on how much they paid during a year.

Capital credits are like a huge pie: Each eligible co-op member gets a piece of pie based on how much energy they used during the year and how much they paid for it. A residential member whose monthly bill is relatively modest will get a small piece of the pie, but larger industrial members who pay thousands of dollars each month receive a bigger piece.

At the September 9 meeting, SCEC's Board of Directors approved the retirement (payment) of $813,485 in capital credits to all members who paid for electricity from SCEC in 2005.