Bluebonnet Electric Cooperative’s Board of Directors unanimously voted during its April meeting to return $5.2 million in capital credits to member-owners of the cooperative, a $500,000 increase over last year. In May, Bluebonnet’s members will receive a credit on their electric bill for their share of the capital credits.
“Approving the amount to return in capital credits each year is the most enjoyable vote our Directors cast on behalf of our members,” said Ben Flencher, board president. “Strong financial management during the past several years has enabled Bluebonnet to return significant amounts to our members. The credit our members will see on their bills in May is one of the many benefits of being a member-owner of Bluebonnet.”
Capital credits are excess revenue above what it takes to run the co-op. Bluebonnet’s Board of Directors approves the capital credits payment every year during its April meeting. When determining how much to return to members, the Directors consider the impact that the amount returned to members will have on electric rates and the co-op’s financial strength.
The amount each member gets back depends on how much electricity they used in previous years through 2021 and how long they have been a Bluebonnet member. Current members will see a credit on their May electric bill for their share of this year’s capital credits retirement. Former members who are still owed a capital credit will be mailed a check in May or June.
Since 2005, Bluebonnet has returned $74.9 million to its members in capital credits.
“We are proud to return capital credits to our members year after year while meeting the demand that tremendous growth in our service area has placed on our electric system and capital budget,” said Matt Bentke, Bluebonnet’s general manager. “This is a major accomplishment that greatly benefits our members. Our Board of Directors and every employee is committed to being wise stewards of our members’ investment and providing the outstanding service they expect and deserve.”