Platte-Clay Electric Returns $3.4 Million to Consumer-Members

Platte-Clay Electric Cooperative today announced it has returned $3.4 million worth of capital credits to consumer-members ahead of schedule. The funds, which were distributed to active accounts on April 23 through bill credits, represent each consumer-member’s share of the co-op’s excess revenue.

The cooperative remains in a strong financial position as we continue to invest in long-term improvements to the reliability of our service - Dave Deihl, CEO and General Manager of Platte-Clay Electric Cooperative

“We’re well aware of the devastating economic impact of COVID-19 on the Northland communities we serve, and it was our goal to once again return as much as possible to our members this year,” said Dave Deihl, CEO and General Manager of Platte-Clay Electric Cooperative. “The cooperative remains in a strong financial position as we continue to invest in long-term improvements to the reliability of our service.”

This $3.4 million figure represents the largest amount ever returned to the cooperative’s membership in a single year.

The credits will be reflected in members' April or May bills depending on their billing date. Inactive accounts will receive a check in the mail reflecting the amount of capital credits they are owed.

As a non-profit electric cooperative, Platte-Clay is owned and governed by its members. The co-op’s consumers share in any profit of the cooperative after operating costs and sound financial practices are accounted for.

KPGZ News - Brian Watts contributed to this story