BASTROP – Bluebonnet Electric Cooperative’s Board of Directors unanimously voted during its April meeting to return $6.23 million in capital credits to member-owners of the cooperative, an increase of more than $500,000 over last year. Beginning in May, Bluebonnet’s members will receive a credit on their electric bill for their share of $6.23 million in capital credits.
“We are proud to return historic amounts in capital credits to our members year after year,” said Ben Flencher, Bluebonnet’s board chairman. “It demonstrates the commitment from our Board of Directors and employees to invest in and serve Bluebonnet’s members and communities for more than 85 years.”
Capital credits are revenue above what it takes to operate the co-op. Every April, Bluebonnet’s Directors approve the capital credits payment. When determining how much to return to members, the Directors consider the impact that the amount returned to members will have on electric rates and the co-op’s financial strength.
The amount each member gets back depends on how much electricity they used in previous years through 2023 and how long they have been a Bluebonnet member. Current members will see a credit on their May electric bill for their share of this year’s capital credits retirement. Former members who are still owed a capital credit will be mailed a check in May or June.
During the past 20 years, Bluebonnet has returned $94 million to members in capital credits.
“The continued, historic growth in Bluebonnet’s service area and sound fiscal manage ment has enabled Bluebonnet to return record amounts in capital credits the past several years,” said Matt Bentke, Bluebonnet’s general manager. “In addition to having one of the lowest electric rates in the state, the credit our members will see on their bills in May is one of the most important benefits of being a member-own er of Bluebonnet.”
Bluebonnet Electric Cooperative is one of the largest electric cooperatives in Texas and has been serving its members since 1939. Bluebonnet serves more than 131,000 meters and owns and maintains 12,000 miles of power lines, located across more than 3,800 square miles within 14 Central Texas counties. Bluebonnet’s service area stretches from Travis County to Washington County, and from Milam County to Gonzales County. For more information about Bluebonnet Electric Cooperative, go to bluebonnet.coop and follow the co-op on Facebook and Twitter.
