We’re giving back $6 million! - NEC Coop
Nov 16, 2021 — News
This holiday season we’re giving back $6 million in capital credits and power perks! That’s a ton of money! In fact, it’s one of the best perks of being a member. Here’s how we do it.
Capital Credits – what’s leftover, we give back
Capital Credits represent your allocated share of the cooperative’s margins during your membership. Your credits are based on how much energy you buy during the year, and the gross margins by those purchases.
At the end of each fiscal year, the profits are allocated proportionately back to members’ accounts, until they’re retired (paid) back to you.
Power Perks help keep our rates stable
Electricity rates fluctuate throughout the year as fuel prices increase or decrease. To offset summer electricity spikes, we set aside a fund—the “PowerPerks” account. If there is money remaining in the account at end of the year, we’ll distribute it back to you as a “PowerPerks” bill credit.
Keep an eye on your upcoming electric bills to see if you received a capital credit or power perk refund!
Fun fact: the longer you’re a member, the more you’ll get back!
Voted #1 Electric Provider
We were recently voted the #1 Electricity Provider by the Corpus Christi Caller-Times’ Best of the Best Awards for the 7th year running!
Benefits of Membership
As a member of our co-op, you’ll enjoy the following benefits:
- You’ll get a share of our profits.
- You won’t be locked into a long-term contract.
- You’ll get a simple, competitive rate with no surprise fees or markups.
- You can get a $50 bill credit for every new member you refer.
