{"id":137760,"date":"2020-12-02T02:19:53","date_gmt":"2020-12-02T07:19:53","guid":{"rendered":"https:\/\/thevwindependent.com\/news\/?p=137760"},"modified":"2020-12-03T12:43:11","modified_gmt":"2020-12-03T17:43:11","slug":"ppec-returns-1-4m-in-excess-revenues","status":"publish","type":"post","link":"https:\/\/thevwindependent.com\/news\/2020\/12\/02\/ppec-returns-1-4m-in-excess-revenues\/","title":{"rendered":"Co-op returns $1.4M in excess revenues"},"content":{"rendered":"\n

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

ST. MARYS — Many Midwest Electric\u00a0members will see a lower electric bill around the holidays. This month, the local electric cooperative is returning $1,424,877 in\u00a0excess revenue\u00a0to 7,455 current and former members.\u00a0<\/p>\n\n\n\n

Eligible co-op members will receive the refund either as a credit on their electric bill, mailed around November 21, or as a separate check 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.\u00a0<\/p>\n\n\n\n

\"\"<\/figure><\/div>\n\n\n\n

As a not-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\n\n\n

After being used as working capital, the money is returned to members. It represents each co-op member\u2019s ownership — or equity — in his or her cooperative. Patronage cash back is allocated to members in proportion to the dollar amount of electricity used.<\/p>\n\n\n\n

This month\u2019s payment will go to those who used Midwest Electric\u2019s service in 2004. A typical residential member from that year will receive a bill credit of about $138. <\/p>\n\n\n\n

“This excess revenue sharing demonstrates that Midwest Electric members are not just customers; they are members and part-owners of their electric cooperative,” said Larry Vandemark, board president. “Midwest Electric belongs to the communities we serve. Members have equity ownership in our physical assets — and receive a financial return on those assets, unlike customers of other utilities.”<\/p>\n\n\n\n

Since 1955, Midwest Electric has returned $36 million in patronage cash back to its members. The co-op hasn\u2019t had a rate increase since 2010, and over those 10 years, Midwest Electric has invested more than $21 million in electric system reliability upgrades.<\/p>\n\n\n\n

For more information about patronage cash back or questions regarding your bill credit, contact Midwest Electric at 800-962-3830.<\/p>\n","protected":false},"excerpt":{"rendered":"

VW independent\/submitted information ST. MARYS — Many Midwest Electric\u00a0members will see a lower electric bill around the holidays. This month, the local electric cooperative is returning $1,424,877 in\u00a0excess revenue\u00a0to 7,455 current and former members.\u00a0 Eligible co-op members will receive the refund either as a credit on their electric bill, mailed around November 21, or as […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-137760","post","type-post","status-publish","format-standard","hentry","category-business"],"publishpress_future_action":{"enabled":false,"date":"2026-04-21 06:44:36","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\/137760","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=137760"}],"version-history":[{"count":0,"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/posts\/137760\/revisions"}],"wp:attachment":[{"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/media?parent=137760"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/categories?post=137760"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/tags?post=137760"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}