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  • Monday, April 24, 2017
    Bluebonnet returning $3.14 million to customers
    Bluebonnet Electric Cooperative members will see lower electric bills next month as the co-op distributes more than $3 million in capital credits.
     
    Bluebonnet’s board of directors voted unanimously during its April meeting to return $3.14 million to its members. The money, called capital credits, is similar to dividends that for-profit companies pay their investors.

    “Bluebonnet’s primary goal is to provide safe, reliable, competitively priced power for our members, and we do an outstanding job,” said Ben Flencher, Bluebonnet’s board chairman. “Returning $3.14 million in capital credits to our members is icing on the cake and what sets Bluebonnet apart from other electric utilities.”
     
    Capital credits are excess revenue above what it takes to run the co-op. Each year, Bluebonnet’s board of directors approves the capital credits payment during its April meeting.
     
    When determining how much to return to members, directors consider the impact that the amount returned to members will have on electric rates and the co-op’s financial strength.
     
    In the last 10 years, Bluebonnet has returned $38.78 million to its members.
     
    The amount each member gets back depends on how much electricity they used in previous years and how long they have been a Bluebonnet member.
     
    Current members will receive 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 receive a check in May or June.
     
    “Bluebonnet’s ability to give back more than $38 million to its members during the past decade wouldn’t be possible without the board of director’s commitment to our members,” said Matt Bentke, Bluebonnet’s general manager. “Our financial and organizational success is directly attributable to their leadership and wise decisions.”
     
    Bluebonnet is one of the largest electric cooperatives in Texas, serving more than 92,000 meters. It owns and maintains 11,000 miles of power lines in more than 3,800 square miles within 14 Central Texas counties.
     
    Its service area stretches from Travis County to Washington County, and from Milam County to Gonzales County.

    Source: Brenham Banner-Press