Banking & Finance  September 15, 2017

PVREA returning $3 million to members

FORT COLLINS — The Poudre Valley Rural Electric Association is giving about $3 million to its members.

The board of directors approved to retire capital credits, which will send about $3 million back into the economy. The board will mail about 40,000 capital credits checks.

Larger customers are expected to get substantial money back, based on their energy use.

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“Some of our largest energy users are local businesses, school districts, municipalities and large manufacturing companies who support our local community; the financial impact of those organizations’ capital credits checks is quite significant to them and the community they serve,” PVREA President and CEO Jeff Wadsworth said in a prepared statement.

The PVREA is a member-owned utility that operates not-for-profit and capital credits are used as working capital and then retired to members at a later date. Capital funds are used to maintain infrastructure. Because it met its financial performance goals, it was able to return $3 million back to members.

 

FORT COLLINS — The Poudre Valley Rural Electric Association is giving about $3 million to its members.

The board of directors approved to retire capital credits, which will send about $3 million back into the economy. The board will mail about 40,000 capital credits checks.

Larger customers are expected to get substantial money back, based on their energy use.

“Some of our largest energy users are local businesses, school districts, municipalities and large manufacturing companies who support our local community; the financial impact of those organizations’ capital credits checks is quite significant to…

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