The Sam Houston Electric Cooperative Board of Directors recently voted to approve the return of nearly $3.16 million to Co-op member-owners. Returned as capital credits, these refunds will be issued as a credit on members’ September electric bills.
Capital credits are allocated from revenues collected in excess of operating expenses during the previous year. Once the determination has been made that the financial condition of the Cooperative is stable and adequate to meet operating costs, debt covenants and emergency expenses, the Board can elect to return a portion of excess capital in the form of capital credits to Cooperative members. Capital credits are proportionate to individual electric use. To date, Sam Houston EC has returned more than $33 million in capital credit refunds to its member-owners.
