Bluebonnet Electric Cooperative’s board of directors voted in April to return $4.4 million to the co-op’s members. The money will be returned in the form of capital credits, which are similar to dividends that for-profit companies pay their investors. Capital credits are paid each year and represent a portion of each member’s share of their ownership in Bluebonnet.
The amount each member receives depends on how much electricity they used in the previous years and how long they’ve been a Bluebonnet member. Current members will receive a credit on their May electric bill. Former members who are still owed a capital credit will receive a check in May or June.
“While investor-owned utilities pay dividends to their investors and city-owned utilities transfer excess revenue to the city, co-ops return money to their members,” said Rick Schmidt, Bluebonnet’s board president. “During the last six years Bluebonnet has returned $23.1 million.
“Receiving capital credits is what makes being a member and owner of a co-op special. Bluebonnet will continue to use the revenue needed to provide safe, reliable electricity and give back to our members what we don’t use.”