YOU Get the Credit!
It’s time for you to get the credit —Capital Credits, that is― for helping build, sustain, and grow your local electric cooperative. Over the years, PPCS has returned over $14.1 million in Capital Credits to our members like you.
Due to the financial crisis caused by the COVID-19 pandemic, the PPCS board of directors authorized an early distribution of $600,000 in May 2020 to members for the 2019 capital credit allocation in addition to a portion of the remaining allocation from 2002. Members will receive the 2019 allocations at the discounted present-day value, in lieu of waiting for a future retirement. PPCS paid out approximately 28% of the 2019 allocation to members (the present-day value of the dollars) and an additional 31% of the allocation from 2002. In 2019, PPCS paid out 46% of the 2002 capital credit allocations.
The Benefits of Being a Member
When you signed up to receive electric service from PPCS you became a member of our electric cooperative. While investor-owned utilities return a portion of any profits back to their shareholders, electric co-ops operate to provide a service at cost. So, instead of returning excess funds, known as margins, to folks who might not live in the same region or even the same state as you do, PPCS allocates and periodically refunds member credits based on how much electricity you purchased during a year.
How It Works
PPCS members will receive two notices:
1) Capital Credit Allocation - First, an allocation determines each member's share of the cooperative's margin for a given year. Margins are allocated or assigned to members who purchased electricity from the cooperative during the year in which the margin was generated in proportion to the electrical sales for the year. Each member’s allocation is determined by his/her kilowatt-hour consumption for the year. The co-op keeps a permanent record of each member’s capital credit account, which is where the allocated amount remains until it is paid or "retired." This notice usually is sent in May or June of each year. This is NOT a bill or bill credit applied to your account.
2) Capital Credit Retirement - After reviewing the financial health of the cooperative, the Board of Directors may declare a retirement, at which time part of each member's allocated amount is refunded. Capital credits are applied to your energy account, if they are $50 or less, or sent as a check by mail (usually in October).
Unclaimed Capital Credits Search
There are occasions when capital credit checks are not cashed. Whether due to address change, name change or death, we continue to try to reach these individuals or their heirs. Please review the list of individuals from 2015 who have unclaimed capital credits using the link below and contact our office by August 31, 2020, if you have contact information for them.