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Bluebonnet lowers electric rate for second time in 10 months; Returns record amount in capital credits in 2020

0922
 2020
Members of Bluebonnet Electric Cooperative will benefit from a second rate reduction in the past 10 months and a record-setting amount of money returned in capital credits in 2020. 

“Through a lot of hard work by Bluebonnet’s employees and decisions by the co-op’s directors we have the financial capacity to reduce our rates and at the same time give back to our members a record-setting amount in capital credits,” said Matt Bentke, Bluebonnet’s general manager. “We are particularly proud to do this at the same time we are investing more than ever in our electric system, improving reliability, and supporting the communities and members we serve through charitable donations and volunteerism.” 

A rate reduction beginning with electric bills mailed in October will save Bluebonnet’s members $3.4 million annually. Coupled with a rate reduction last December, Bluebonnet has reduced its electric rate 4 percent in the past 10 months, saving co-op members $9 million annually. 

In addition to the rate reductions, Bluebonnet returned $6.7 million in capital credits in 2020. Capital credits are excess revenue above what it takes to run the co-op. When determining how much to return to members, Bluebonnet’s board of directors considers the impact the amount will have on electric rates and the co-op’s financial strength.

“Everyone at Bluebonnet constantly looks for opportunities to improve the service we provide to our members. Lower electric rates help members save money on their bills,” said Ben Flencher, Bluebonnet’s board chairman. “These rate reductions and the amount the board of directors approved to return in 2020 are wonderful achievements that will greatly benefit our members and the communities we serve.” 

Bluebonnet works to control expenses and contract with low-cost wholesale power providers to keep rates as low as possible. Families and businesses can do their part to control their electric costs by closely watching how much energy they consume. Bluebonnet members can track their energy consumption and cost on a daily - or even hourly - basis by creating an online account on bluebonnet.coop or via our new mobile app for smartphones. Log in to MyBluebonnet online and click on My Usage, or check Usage on the mobile app. 

Setting up an online account is easy. Members will need their account number, the name on the account and the email address associated with their account. Click on Register at the top of any page on the website and follow the simple directions, or download the new mobile app to get started. For more information, go to bluebonnet.coop/MyBluebonnet or call a Bluebonnet member service representative at 800-842-7708, Monday through Friday, 7:30 a.m. to 5:30 p.m.
 

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