Members of the Intercounty Electric Cooperative Association are receiving an early Christmas gift in the form of capital credits arriving in mailboxes.
Intercounty said it is returning about $3.2 million.
Here is how the process works:
- It keeps track of how much electricity each customer purchases each year.
- Excess revenues are allocated to members (based on use) as capital credits.
- At the end of the year, it completes a financial analysis and determines operating margins.
- When financial conditions permit, the board elects to pay or retire the capital credits.
