BLUEBONNET MEMBERS TO RECEIVE $5.2 MILLION IN CAPITAL CREDITS BEGINNING IN MAY

  

Bluebonnet Electric Cooperative member-owners will soon receive credits on their electric bill for their share of $5.2 million.

The cooperative’s Board of Directors voted unanimously during its April meeting to return $5.2 million in capital credits to members, a $500,000 increase over last year.  Members will begin receiving the credits in May.

Capital credits are excess revenue above what it takes to run the co-op.  Every April, Bluebonnet’s board approves a capital credits payment.

When determining how much to return to members, directors consider the impact that the amount returned to members will have on electric rates and the co-op’s financial strength.  The amount each member gets back depends on how much electricity they used in previous years through 2021 and how long they have been a Bluebonnet member.

Since 2005, Bluebonnet has returned $74.9 million to its members in capital credits.

Board President Ben Flencher said approving the capital credits return each year “is the most enjoyable vote our directors cast on behalf of our members.”  He said, “Strong financial management during the past several years has enabled Bluebonnet to return significant amounts to our members.”

General Manager Matt Bentke said the cooperative is “proud to return capital credits to our members year after year while meeting the demand that tremendous growth in our service area has placed on our electric system and capital budget.”

Current members will see a credit on their May electric bill for their share of this year’s capital credits retirement.  Former members who are still owed a capital credit will be mailed a check in May or June.