Did you receive your Blachly-Lane Electric Cooperative (BLEC) capital credit check in December? If you were a member during 2008, you should have. Your board of directors approved returning $520,000 back to our members in December of 2022.
As a not-for-profit electric cooperative, BLEC shares excess revenue back with the members over time. All revenue exceeding the cost to provide electric service (if any) is allocated back to you in the form of capital credits. The amount of capital credits you are allocated each year is based on how much electricity you used during the previous year.
Once allocated, your capital credits are held by BLEC as a resource to replace aging infrastructure and to maintain a safe and reliable electric system. When financial conditions allow, the appropriate portion of your capital credits are retired and paid out to you. BLEC is proud to have returned over $17 million in capital credits to our members over the years!
Nationwide, electric cooperatives have retired $19 billion since 1988 and $1.5 billion in 2020 alone. To see more information about capital credits, visit our capital credit page.
