{"id":109891,"date":"2018-11-26T07:46:33","date_gmt":"2018-11-26T12:46:33","guid":{"rendered":"https:\/\/www.thevwindependent.com\/news\/?p=109891"},"modified":"2018-11-26T07:46:33","modified_gmt":"2018-11-26T12:46:33","slug":"midwest-returns-excess-to-customers","status":"publish","type":"post","link":"https:\/\/thevwindependent.com\/news\/2018\/11\/26\/midwest-returns-excess-to-customers\/","title":{"rendered":"Midwest returns excess $$ to customers"},"content":{"rendered":"

VW independent\/submitted information<\/em><\/p>\n

ST. MARYS — Midwest Electric\u00a0members will see a lower electric bill around the holidays. This month,the local electric cooperative is returning $1,473,997 in\u00a0excess revenue\u00a0to 7,487 current and former members.<\/p>\n

Eligible co-op members should have received the refund, either as a credit on their electric bill mailed around November 21, or as a separate check yet to come in December. This\u00a0patronage cash back, also known as capital credits, is the cooperative\u2019s margins, or money left after all bills have been paid.<\/p>\n

\"\"As a\u00a0not-for-profit, community-focused organization, Midwest Electric uses these margins for investments, such as building or replacing power lines, transformers, and other electric system upgrades to meet members\u2019 evolving needs.<\/p>\n

After being used as working capital, the money is returned to members. It represents co-op members\u2019 ownership — or equity — in their cooperative. Patronage cash back is allocated to members in proportion to the dollar amount of electricity used.<\/p>\n

This month\u2019s payment will go to those who used Midwest Electric\u2019s service in 2001 and 2002.\u00a0It represents all of 2002\u2019s margins and the final one-half year of 2001\u2019s margins. A typical residential member from those years will receive a bill credit of about $148.<\/p>\n

This excess revenue sharing demonstrates that Midwest Electric members are not just customers; they are members and part-owners of their electric cooperative, which belongs to the communities it serves. Members have equity ownership in Midwest Electric\u2019s physical assets — and receive a financial return on those assets, unlike customers of other utilities.<\/p>\n

Since 1955, Midwest Electric has returned nearly $33 million in patronage cash back to its members.<\/p>\n

For more information about patronage cash back or questions regarding your bill credit, contact Midwest Electric at 419.394.4110 or 800.962.3830.<\/p>\n

Based in St. Marys, Midwest Electric is a not-for-profit, customer-owned electric cooperative serving 11,000 homes, farms, and businesses in Allen, Auglaize, Mercer, Van Wert, Shelby, Putnam, and Darke counties.\u00a0To learn more, visit www.midwestrec.com.<\/p>\n","protected":false},"excerpt":{"rendered":"

VW independent\/submitted information ST. MARYS — Midwest Electric\u00a0members will see a lower electric bill around the holidays. This month,the local electric cooperative is returning $1,473,997 in\u00a0excess revenue\u00a0to 7,487 current and former members. Eligible co-op members should have received the refund, either as a credit on their electric bill mailed around November 21, or as a […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-109891","post","type-post","status-publish","format-standard","hentry","category-news"],"publishpress_future_action":{"enabled":false,"date":"2026-04-26 07:37:35","action":"change-status","newStatus":"draft","terms":[],"taxonomy":"category","extraData":[]},"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"_links":{"self":[{"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/posts\/109891","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/comments?post=109891"}],"version-history":[{"count":0,"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/posts\/109891\/revisions"}],"wp:attachment":[{"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/media?parent=109891"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/categories?post=109891"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/tags?post=109891"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}