The First Electric Cooperative Board of Directors approved a refund of $3.8 million to members this year. The company serves 88,390 accounts throughout 17 counties in central and southeast Arkansas.
The refunds, known as capital credits, represent the members’ share of the remaining revenue minus the cost of operation for the years being retired. Capital credit refunds are assigned to each member account annually and then refunded when financial conditions permit.
Capital credit checks were mailed Dec. 14. Members whose refund was less than $20 received a credit on their December electric bill. Capital credit refunds are one of the major differences between a not-for-profit electric cooperative, such as First Electric, and a for-profit investor-owned electric company.
Details: Visit www.firstelectric.coop