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.