Oregon Trail Electric Cooperative will return $2.6 million worth of credits back to its members in December.
The cooperative operates at cost with any excess revenue being returned to members when financial conditions allow, according to an OTEC press release.
The return, stemming from a decision made in an October board meeting, returns the remaining balance of credits from 1994.
“This is the largest amount of credits we have ever retired in one year,” Chief Financial Officer Anthony Bailey said in the release, adding it was double what they gave back last year.
To date, the cooperative has retired approximately $31.5 million dollars in credit. Members with more than $15 in eligible credits will be receiving a check, while those with less will be credited on their December bill.
“Being a member owned non-profit cooperative, this is always a good time of year and a great opportunity for the cooperative to give our member-owner’s credit in the form of a check for continuing to help build,sustain and grow their electric cooperative,” General Manager Les Penning said in the release.