Powerline Press NEWSLETTER December 2015
A Supplement of Oklahoma Living Published by Lake Region Electric Cooperative for its members. Vol. 6
No. 12 Board Approves Capital Credit Retirement Energy Efficiency Tip of the Month
(unless a fire is burning). Keeping the damper open is like leaving a window wide open during the winter, allowing warm air to escape through the chimney.
Source:
energy.gov
Remember to close your fireplace damper
$ $
As a Member of LREC, You Get The Credit When you signed up to receive electric service from
Lake Region Electric Cooperative (LREC), you became a member of an electric cooperative. While investor-owned utilities return a portion of profits back to their stockhold- ers, LREC operates on an at-cost not for profit basis. So instead of returning profits, known as margins, to stock- holders who may not live in the same region or even the same state as you do, LREC allocates and periodically retires capital credits based on how much electricity you purchased during a year.
The Board of Trustees has authorized a total distribu-
Offices Closed LREC will close at 12:00 p.m. on December 24th and all day the 25th in observance of Christmas.
tion of $1,092,900 in capital credits to current and former members of 1984 and 2014. An amount of $503,713 will be retired for 1984 and $589,187 for 2014. Residential members will receive their capital credits retirement on their Decem- ber billing statement as a credit, reflecting their contribution of capital to the owner- ship of the cooperative. The average retire- ment for 1984 is around $27.98 and for 2014 is $21.50. Please look for credit on your December bill. If the amount is below $75.00, the amount will show as a credit and if the amount is higher than $75.00 members will receive a check. These funds helped operate the co-op, reduced the amount of money we needed to borrow from outside lenders to build, maintain, and expand a reliable electric distribution system, and covered emer- gency expenses.
If you move or no longer have electric service with LREC, it is important that you inform the cooperative of your current address, so that future retirements can be properly mailed to you. If you purchased electricity during the years being retired, then you are entitled to a capital credit retirement, even if you move out of the LREC service area.
How Do Capital Credits Work? Continued on page 2 Your co-op completes
LREC tracks how much electricity you buy and how much money you pay for it throughout the year.
LREC Powerline Press financial matters and
determines whether there are excess revenues, called margins.
Your co-op allocates the margins to members as capital credits based upon your usage during the year.
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