The La Plata Electric Association (LPEA) Board voted to retire $1 million in capital credits. Capital Credit refunds will be issued to members who were part of the cooperative in 2003. These refunds will be based on the amount of electricity used during those years. Members entitled to refunds over $100 will receive a check in the mail, while amounts under $100 will be applied as a credit on their electric bill in December, 2025. 

LPEA, a not-for-profit utility, is dedicated to delivering electric services to its members as close to cost as reasonably possible. However, any payments made by members that exceed the cost of providing electric service are allocated to a Capital Credit account in each member’s name. When financially feasible, LPEA returns these Capital Credits to its members through the CashBack program. 

“As a cooperative, our goal isn’t to maximize profit, it’s to serve our members,” said Chris Hansen, LPEA CEO. “Every electric bill paid is also an investment in our shared system, and it’s a point of pride that we can give that value back to the people we serve.”

The decision to retire Capital Credits and the amount retired is determined annually by the LPEA Board of Directors, based on the cooperative’s financial circumstances. This year, the board has chosen to retire using the “first in, first out” (FIFO) method. FIFO refers to those who were members in 2003. This approach allows LPEA to return some of the remaining capital investment to its longer-tenured members. 

Visit LPEA’s website here to learn more about the Capital Credit refunds. To learn about LPEA's services and programs, please visit LPEA's website at https://lpea.coop.