Pedernales Electric Cooperative distributed $10 million in capital credits to its members in January. The PEC Board of Directors approved the distribution at its December 19 meeting, and credits appeared on January bills for current members.
As a nonprofit cooperative, PEC doesn’t earn profits. Instead, any positive margins are reinvested in the cooperative’s infrastructure or returned to members. The distribution is just one of the benefits of being a part of an electric cooperative.
“Capital credits and the cooperative business model sets us apart from other utilities — these credits represent our members’ ownership and investment in the cooperative,” said PEC Chief Financial Officer Randy Kruger. “PEC is committed to keeping our system strong, resilient and member focused.”
