Skip to content

Kenergy board approves $3 million capital credit retirement

HENDERSON, KY. – Kenergy’s Board of Directors recently voted to return $3 million to its members in the form of a capital credit retirement during the summer of 2015.

The difference between a cooperative such as Kenergy and an investor-owned utility is that a cooperative is owned by those it serves. As a member-owner, members share in the co-op’s profits.

At the close of each fiscal year, profits are allocated back to the membership in the form of capital credits. This allocation is based on the dollar amount of electricity purchased during the same year.

The 2015 retirement is for electricity purchased between 1984 and 1986.

For the 2015 retirement, current members can expect a credit on their June bills. Former members who are eligible will receive checks in June also.

At this time, Kenergy continues to calculate amounts to be paid to members. After statements are mailed, members with questions may call the co-op’s office.

Regarding the estates of deceased members, capital credits are retired on a prorated basis upon notification of death. Therefore, some deceased members’ estates already received their retirement for 1984 through 1986.

Since 2012, Kenergy has returned more than $10 million to its members and former members in the form of capital credit retirements.