The Patronage Capital Credit Allocation Notice for South Plains Electric Cooperative members is issued in accordance with the bylaws of the Cooperative.
There are two allocation factors: the margins from operations and the margins from our power suppliers.
The 2016 operating margin was $5,567,612. This resulted in a $.051233 operating capital credit factor.
Golden Spread Electric Cooperative and Brazos Electric Power Cooperative, our power suppliers, sent us $3,422,636 in capital credits for 2016. These are called Generation and Transmission (G&T) Capital Credits. The G&T factor for 2016 was $.032458.
By multiplying these factors times your total usage in dollars for 2016, as shown on your December bill, you can arrive at your capital credit amount for 2016.
If you have any questions about capital credits, call (806) 775-7831 to speak with Penny Nelson, or call (806) 775-7828 to speak with Jessalynn Alejandro.
Unlike other electric utilities, your Cooperative exists to make sure your needs are always met, not to make a profit. The Cooperative works hard every day to keep your electric rates as low as possible. But it’s sure nice to know that when there are margins (capital credits), they go back to you.
South Plains Electric Cooperative has returned $32.7 million to members in cash. That’s good value for your money.