Sam Houston Electric Cooperative consumer-members will see good news when they open their December electric bills. Co-op members who were billed for electricity between January and October will receive an energy credit. The average residential credit will be approximately $60 and is based on the amount of electricity each Co-op member purchased throughout 2019.
“At a time when the Co-op’s power costs are already at an eight-year low, this is even more good news for Sam Houston Electric Cooperative members during this Christmas season,” CEO Doug Turk said.
Turk explained that when setting the monthly price per kilowatt-hour, the Co-op must predict in advance what wholesale costs will be. At the end of this year, actual costs have been less than predicted costs, resulting in a substantial credit on members’ December electric bills.
There has been other good news for the Cooperative’s consumer-members in recent months, as they have been benefitting from the lowest power costs in eight years.
“Sam Houston Electric Cooperative is a not-for-profit organization,” Turk said. “One of the things we do as part of our mission is to supply members with reliable power that is as low cost as possible.”
The Co-op is led by an 11-member board of directors, elected from across 10 counties served by the Co-op. The board is responsible to look out for the best interests of all 56,000 Sam Houston EC consumer-members.
Turk added, “Because the Co-op is owned by members in the communities we serve, the board is passing this credit, and the lower power costs, directly to those members on their electric bills.”