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Bluebonnet Gives Back $2.9 million to its Members

5/3/2012 1:40:25 PM

For Immediate Release:                                           Contact: Will Holford, (512) 289-5982

Thursday, May 03, 2012                                                                 Janet Wilson, (512) 452-6910

Bluebonnet Gives Back $2.9 million to its Members

Bastrop – Bluebonnet Electric Cooperative’s board of directors voted in April to return $2.9 million in to the co-op’s members. The money will be returned in the form of capital credits, which are similar to dividends that for-profit companies pay their investors. Capital credits are paid each year and represent a portion of each member’s share of their ownership in the cooperative.

The amount each member receives depends on how much electricity they used in the previous years and how long they have been a Bluebonnet member. Current members will receive refunds on their May electric bills. Former members who are still owed a capital credit will receive a check in May or June.

“During the last five years Bluebonnet has returned $18.7 million to its members,” said Rick Schmidt, Bluebonnet’s board president. “Paying capital credits is what sets nonprofit, member-owned cooperatives apart from investor-owned and city-owned utilities. We will continue to use the revenue needed to provide safe, reliable electricity and return what we don’t use to our members.”

Bluebonnet Electric Cooperative is one of the largest electric cooperatives in Texas and has been serving its members since 1939. Bluebonnet serves more than 81,000 meters and owns and maintains 11,000 miles of power lines, located across more than 3,800 square miles within 14 Central Texas counties. Bluebonnet’s service area stretches from Travis County to Washington County, and from Milam County down to Gonzales County. For more information about Bluebonnet Electric Cooperative, go to www.bluebonnetelectric.coop and follow the co-op on Facebook and Twitter.

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