When do capital credits get returned?
As a not-for-profit cooperative, our margins are allocated to our members every year. Allocation means the funds that you have invested in the cooperative are tracked, but not accessible in the form of cash. The actual distribution of funds, or retirement of capital credits, happens at the discretion of the board of directors.
At the end of each year, your board carefully assesses the financial condition of the cooperative and determines what amount of capital credits to retire to our members. Capital credits may not be retired every year.
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How is my capital credit refund amount determined?
Your refund amount is based on the amount of electricity you used during the years of service that are retired.
How are the capital credit refunds paid?
For active accounts, capital credit refunds are applied to your electric bill in the form of a bill credit. For inactive accounts, checks are issued and mailed to the last known address.
Who gets a capital credit refund?
Every member who bought electricity from Berkeley Electric Cooperative during the years of service that are being retired.
What are capital credits?
As a member of Berkeley Electric Cooperative, you are also an owner. When you make a payment to Berkeley Electric, a portion of that payment goes directly toward your "capital" investment in our electrical system. Unlike investor-owned utilities that ...
What if I move? Am I still eligible to receive my capital credits?
If you move out of our service territory, please keep us informed of your new address so we are sure to contact you regarding future capital credit refunds. To report your current address for future capital credit refunds, please email our Member ...