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Bluebonnet members to get $3.39 million back in capital credits beginning in May

0420
 2018
Bluebonnet Electric Cooperative’s members will notice something different on their May electric bills – a credit for their share of $3.39 million that Bluebonnet’s board of directors unanimously voted during its April meeting to return to its members. The money, called capital credits, is similar to dividends that for-profit companies pay their investors.

“Everyone at Bluebonnet works hard to keep rates as low as possible while providing safe, reliable power and outstanding service to our members,” said Ben Flencher, Bluebonnet’s board chairman. “Our ability to return millions of dollars each year to our members is one measure of our success and what sets Bluebonnet apart from other utilities.”

During the last 10 years, Bluebonnet has returned $43.83 million to its members.

Capital credits are excess revenue above what it takes to run the co-op. Each year, Bluebonnet’s board of directors approves the capital credits payment during its April meeting. When determining how much to return to members, the 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 and how long they have been a Bluebonnet member. Current members will receive 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 receive a check in May or June.

“Bluebonnet’s capacity to give back nearly $44 million to its members during the past decade is possible because of our board’s incredible leadership and wise decisions,” said Matt Bentke, Bluebonnet’s general manager. “Their commitment and service to our members is evident in our organizational and financial strength.”

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