Sam Houston Electric Cooperative received a $4 million credit from our wholesale power supplier. We’re your not-for-profit Co-op, so we’re passing the credit directly on to you, our members. Look on your February statement for your “energy credit.” The amount of your credit is based on your total 2017 billing.
At the end of the year we compare the amount Sam Houston Electric Cooperative paid for the electricity that we purchased and delivered to members, to the total amount we billed our members for the entire year.
In the case of 2017, the difference is approximately $4 million. Because Sam Houston EC is not-for-profit, our board elected to pass the credits directly to our members.
The average wholesale energy credit on residential electric bills will be approximately $50. The amount of each credit will be calculated based on how much electricity you purchased in 2017.
At a time of year when higher consumption for heating causes electric bills to be higher, we are happy to be able to pass these credits to our members.
Your Cooperative doesn’t have investors to answer to. Our board of directors are made up of the people we serve and are members, too. That’s what makes co-ops unique. Together, we work hard on your behalf to keep the price you pay for electricity low. That’s what electric cooperatives are all about.
Dive a little deeper.
When determining the price to bill for electricity each month, Sam Houston EC must project in advance what the cost will be for the electricity we purchase and then deliver to our members. These projections are based on expected costs for fuels used to generate electricity – primarily natural gas and coal.
The cost of these fuels varies. So, in some months the cost is higher than projected, and in some months the cost is lower than projected. The net result for all of 2017 was a credit of $4 million that we’re able to return to members on their February bills.
