Kenergy is continuing its long-standing practice of retiring capital credits to its members. In June, Kenergy will return $4 million to its membership. The credit amount represents 85 percent of net margins allocated in 2014.
You may ask: What is a capital credit retirement? Let us explain.
Electric cooperatives aren’t like other utilities. First, they operate on a not-for-profit basis, which means Kenergy operates at cost. It collects only enough revenue to run and expand the business but without the need to generate profits for distant shareholders.
You, as a member, own a portion of Kenergy. When Kenergy has money left over, it’s returned to you and other members in a capital credit retirement.
This year, we are returning margins earned in 2014. Your share is figured by how much electricity you used during that year. If you were not a member during that year, you will not receive a credit on your bill.
We are proud to say this is Kenergy’s sixth consecutive capital credit retirement. Since 2012, the cooperative has returned more than $17 million to its members and former members.
In essence, cooperatives are businesses that pay you back. That’s rare. And it’s a great reason to be a member of an electric cooperative.
Right now, Kenergy’s staff is still calculating amounts to be paid to each eligible member. But, after you receive your June bill statement, feel free to call the co-op at 1.800.844.4832 if you have questions.
Unclaimed Capital Credits
Former members of Kenergy are able to claim capital credits due to them. Kenergy has published a list of former members on our webpage:
Kenergy hopes relatives, neighbors or friends will help locate these former members and have them contact us.