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What's the difference?
During the month of July, members will receive notice of capital credits allocations from the previous year. This notice will come on the back of your July billing statement, or via direct notification for FlexPay members who do not receive statements. Please be aware this is NOT a refund — refunds were issued in May.
Here’s more about the difference between capital credits allocations and refunds:
- Allocations are based on the amount of electricity a member purchased the previous fiscal year. This annual allocation amount is added to your overall membership capital credits balance, which reflects all the years in which you had service with Blue Ridge Energy.
- Refunds occur when your Board of Directors approve a capital credits retirement. This involves refunding a portion of your overall membership capital credits balance. The rotation of these funds over time allows the cooperative to build and maintain power lines, substations, rights of way, and other areas to ensure safe and reliable electric service. It also reduces the need for loans, which keep costs down for members while still allowing for refunds to the member-owners of Blue Ridge Energy.
Capital credits are a benefit of belonging to a cooperative. This not-for-profit business model is used by thousands of cooperatives to balance debt and equity to help keep member rates low and provide reliable electric service.