Platte-Clay Electric Returns $2.8 Million to Consumer-Members

Platte-Clay Electric Cooperative announced today it will return $2.8 million worth of capital credits to consumer-members in the month of May. The funds, which will be distributed to active accounts through bill credits, represent each consumer-member’s share of the co-op’s excess revenue.

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

“We’re proud to be returning $2.8 million to our consumer-members while the costs of many other goods and services continue to rise,” said Dave Deihl, CEO and General Manager of Platte-Clay Electric Cooperative. “Throughout the pandemic, supply chain shortages and recent weather events, the cooperative business model has proven itself effective for providing affordable and reliable service.”

The refund follows a previous announcement that no rate increase will be implemented by the cooperative in 2022. Since 2012, the co-op has paid back over $20 million in capital credits.

KPGZ News - Brian Watts contributed to this story