Millions in capital credits paid early considering pandemic and polar vortex
Branson, Missouri –
White River Valley Electric Cooperative is giving 5.72 million dollars back to their members to help offset the continued financial hardships faced due to COVID-19 and the implications felt from the recent polar vortex.
The member-owned cooperative supplies electric to five counties in Southwest Missouri; Christian, Douglas, Ozark, Stone, and Taney. Since WRVEC is a not-for-profit, excess monies are returned to their members in the form of capital credits.
The Cooperative pays the bills for things like power generation, maintenance, and operations. The money left over after those bills are paid each year is called a margin. Margins provide equity for the Cooperative and are assigned to members through the capital credits.
Traditionally, the co-op pays these credits in July. The Executive Staff and Board of Directors met to discuss how to help members continue to recover from the pandemic and bounce back from the polar vortex. The Board of Directors and Executive Staff voted unanimously to pay capital credits early.
The $5.72 million release is based on how much electricity is purchased during a year. The early 2021 payment amount equals 100 percent of 1993, 1995, 1996, and 2019; and 50 percent of 1991 and 2018. Current members will see the payments applied to their billing statements for the May billing cycles. Those who are no longer members will receive a check.
For more information on capital credits, visit https://www.whiteriver.org/member-center/capital-credits
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White River Valley Electric Cooperative is a Touchstone Energy Cooperative dedicated to ensuring our members receive safe and reliable service in their homes and businesses across five southwest Missouri counties including Ozark, Taney, Stone, Christian and Douglas.
