Big Bend Electric Co-Op returning over $2 million to consumers
RITZVILLE — The Big Bend Electric Cooperative, which is headquartered in Ritzville and serves customers in both Adams and Franklin Counties, will be refunding over $2.1 million to their electric consumers.
A press release from the co-op says their board of trustees approved the large refund to consumers who purchased power during the years 1999, 2000 and 2017. The Cooperative is a non-profit company that is owned by electric utility consumers.
“When more revenue is collected than what is needed to cover operating expenses, the Cooperative allocates the difference to consumers as ‘capital credits’ for return to consumers in future years,” Cooperative CEO Yvette Armstrong said. “Big Bend first uses this capital for investment in system improvements and to purchase necessary equipment. Then as finances allow in later years, the allocations are returned in cash to co-op consumers.”
The Cooperative has issued refunds to consumers for 42 consecutive years now, with over $40 million returned.
“I personally consider the return of capital to our consumers an important part of operating as a consumer-owned cooperative,” Cooperative Board President Daniel Hille said. “The Cooperative’s board is proud of Big Bend’s strong financial condition and we are pleased to be able to make these refunds, especially during this time of economic recovery.”
Richard Byrd can be reached via email at rbyrd@columbiabasinherald.com.
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