Choptank Electric Cooperative Distributing Profits to Members - WBOC-TV 16, Delmarvas News Leader, FOX 21 -

Choptank Electric Cooperative Distributing Profits to Members

Posted: 11/30/2017 08:04:00 -05:00 Updated:

GREENWOOD, Del. (WBOC/AP)- Directors of Choptank Electric Cooperative have voted to return $2.3 million in capital credits to the co-op's member-owners.

The capital credits, which represent profits or margins, are to be distributed in December to customers of the not-for-profit utility.

Officials say the billing credits or checks will be given to customers who were co-op members of record from 1992-93.

The amount of capital credits each member receives is based on how much
electricity the member purchased during the year. Any active member who has accrued capital credits less than $75 will receive the amount credited directly to their December bill. Active members who have accrued more than $75 in capital credits will receive a check in the mail. Any member who is inactive is required to accrue $75 before a check is sent. Inactive members are also rquired to have a good address listed at the co-op to receive a check. 

The checks are scheduled to be mailed by mid-December.

Choptank Electric said it allocates and periodically retires capital credits to its members based on a variety of factors including the overall financial condition of the co-op.

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