In July 2023, people who were members of LPEA in 2001 and 2002 will receive Capital Credit refunds calculated based on the amount of electricity they used in those years. Amounts over $100 will be mailed as a check, while amounts under $100 will be applied as a bill credit. 

Because LPEA is a cooperative and a not-for-profit utility delivering electric services to its members at cost, any payments made by members over what is needed to provide their electric service are placed into a Capital Credit account in each member's name (kind of like a savings account for each member). When LPEA is financially able, those Capital Credits are returned to members as part of LPEA’s CashBack program. Since its incorporation in 1939, LPEA has returned more than $92 million in Capital Credits to its members. 

The decision to retire Capital Credits and the amount retired is determined by the LPEA Board of Directors on an annual basis, as financial circumstances permit. This year, the board voted at its board meeting in May to retire just under $3.1 million in Capital Credits using the "first in, first out" (FIFO) method. This will ensure that LPEA has no unretired Capital Credits that were allocated to members before 2003. 

When LPEA cannot locate members deserving of the refund the dollars become "unclaimed" after three years and are then reinvested in our community through LPEA's various grant programs.  

Get more details LPEA's CashBack here.