Credit on My Bill?
Yes, that is the cooperative difference! Unlike other electric utilities, Moreau-Grand Electric exists to make sure your needs are always met, not to make a profit. As a member-owner, you share in the margins in the form of capital credit refunds. The cooperative works hard every day to keep your rates as low as possible. But it’s sure nice to know that when there are credits, they go back to you.
How much has been returned to its members since the founding of the cooperative in 1946?
Including this year’s capital credit refund, members have received $10.8 million.
How much is the 2023 capital credit refund?
The general retirement approved by the board will be $300,000 this year for members. It is important to keep the cooperative informed of your current address so that we can send your refund when the board decides to authorize a general retirement to the cooperative’s membership.
How is the amount given to each member decided?
These credits are based on the amount and cost of electricity each member purchased during the year or years being retired.
Why aren’t the allocations paid out all at one time?
One of the basic cooperative principals is that members participate in the financial well-being of the cooperative through their economic participation. Members are the owners of the cooperative and the cooperative uses payments received from members to build and maintain the reliability of the electric system. When finances permit, margins are periodically returned to the member.
