Bartholomew County REMC board of directors has unanimously approved a 2019 special capital credit for current members, totaling $1.1 million.
This early retirement of capital will affect members who received electric service from REMC in 2019.
Hoosier Energy, REMC’s wholesale power provider, approved a special 2019 retirement totaling $336,000 which will be passed on to members. Qualified customers will receive the refund on July electric bills. The average total refund for a residential member is estimated at $90. Bills will go out July 1 through 17.
Those who are active members receive a bill credit and those who were active members in 2019, but are not now, will receive a check in the mail.
Member-owners of Bartholomew County REMC share in the margins of the cooperative, meaning all revenue received in excess of expenses is allocated back to membership in the form of capital credits.
The special capital credit is in addition to the $45 membership refund credited on member’s May bills, according to REMC.
About 9,500 of REMC’s 10,200 current members will receive refunds.
For more on this story, see Thursday’s Republic.
