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The ElectraLite 2013 Capital Credit Allocation Formula


CVEC capital credit assignments are based on the co-op’s revenues in excess of its expenses. These numbers are recorded as capital furnished by the members and are referred to as capital credits. In 2013, this amounted to $2,470,504.88. This amount is not represented as cash, but as the co-op’s equity interest in its distribution system. Canadian Valley also receives capital credits from its generation and transmission cooperative, Western Farmers Electric Co- operative, from whom we purchase electricity. For 2013, WFEC paid CVEC capital credits in the amount of $2,184,707.22. This is your notice regarding the assignment of your 2013 capital credits. This method avoids the expense of printing and mailing individual notices. You can request specific information about your account by contacting the co-op. The 2013 capital credits are assigned to consumers as a book figure on the co-op’s records. They are payable to the member- ship only upon dissolution of the co-op after all indebtedness is paid. Any remaining balance will be retired on a prorated basis at the time, provided the board of trustees makes a partial retirement prior to such event after determining the financial condition of the co-op won’t be impaired. Capital credits are not cash and cannot be applied as payments on electric bills. Here is how to determine your capital credit: 1. Add up the amount of your 2013 electric bills, for each CVEC account you have. 2. Locate your rate code on a recent electric bill, and match it to one of the classifications below. 4. Take the classification’s decimal factor times the total of your 2013 bills. 5. This amount is your 2013 capital credits. Example: 2013 total billing - $1,000. Rate code - 2 $1,000 x .0525362 = $52.54 2013 CVEC capital credit $1,000 x .0332678 = $33.27 2013 WFEC capital credit


Classification Residential


Small Commercial & Irrigation Large Power Large Power - 2


Rate Code 1-4


10-18 24, 26 30-40


CVEC Factor 0.0525362 0.0652461 0.0388255 0.0091111


WFEC Factor 0.0332678 0.0296030 0.0372212 0.0457893


Find Your Hidden Account Number and Win $25


If you find your account number hidden in this issue of The Electralite, you could win $25.


In order to win, the account number


must be your own. You need to report finding the number to us by the 15th of the month. And you need to report finding it by phone, mail or in person. Good luck!


By George Continued from page 2.


Most electric cooperatives, includ- ing Canadian Valley, have been around for about 75 years. While we have had “smart meters” for a dozen years or so, we are all pretty much still poles and wires companies. While some people are talking about going off-the-grid, most who do or would consider distrib- uted generation still recognize the value of being connected to the grid. But the expectation of the customers of the grid is rapidly changing. It is going to be very important for electric cooperatives to recognize they must meet these ex- pectations if the cooperatives are going to be successful in the future. Electric Cooperatives to meet the increasing customer expectation, system security and technology de- ployment are going to need to work together to keep their service afford-


able and reliable for their members. It is hard to argue that Oklahoma needs 26 electric distribution cooperatives. We recognize this at Canadian Valley Electric Cooperative and Central Rural Electric Cooperative. Together, we will have the opportunity to do a better job of meeting our members’ expectations and at a price that should be lower than going it alone. 1004094704 The issue of consolidating these cooperatives is really as simple as that. Consolida- tion will not create a “monster” electric cooperative, not even the largest one in Oklahoma. The members of both cooperatives will decide. The choice will be either “reach for the opportu- nity” or “circle the wagons” because the changes of the future are rapidly coming at us.


December 2014


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