Platte-Clay Electric Cooperative returned $3.4 million in capital credits to consumer-members. The funds, distributed as bill credits, represent each consumer-member’s share of the co-op’s excess revenue.
“We’re well aware of the devastating economic impact of COVID-19 on the Northland communities we serve, and it was our goal to once again return as much as possible to our members this year,” said Dave Deihl, CEO of Platte-Clay Electric Cooperative. “The cooperative remains in a strong financial position as we continue to invest in long-term improvements to the reliability of our service.”
This $3.4 million figure represents the largest amount ever returned to the cooperative’s membership in a single year. Credits will be reflected in members’ April or May bills depending on their billing date. Inactive accounts will receive a check in the mail reflecting the amount of capital credits they are owed.
As a nonprofit electric cooperative, Platte-Clay is owned and governed by its members. Platte-Clay Electric Cooperative serves more than 25,000 accounts and nearly 3,000 miles of energized line in Buchanan, Caldwell, Clay, Clinton, DeKalb, Platte and Ray counties.