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Midwest Electric returns $2.3 million in patronage cash back

Midwest Electric returns $2.3 million in patronage cash back

Tuesday | November 23, 2021
All News

Many Midwest Electric members will see a lower electric bill around the holidays. This month, the local electric cooperative is returning $2.3 million in excess revenue to 8,613 current and former members.

Eligible co-op members will receive the refund either as a credit on their electric bill, mailed around Nov. 21, or as a separate check in December. This patronage cash back, also known as capital credits, is the cooperative’s margins, or money left after all bills have been paid.

As a not-for-profit community-focused organization, Midwest Electric uses these margins for investments, such as building or replacing power lines, transformers, and other electric system upgrades to meet members’ evolving needs.

After being used as working capital, the money is returned to members. It represents each co-op member’s ownership — or equity — in his or her cooperative. Patronage cash back is allocated to members in proportion to the dollar amount of electricity used.

This month’s payment will go to those who used Midwest Electric’s service in 2005. A typical residential member from that year will receive a bill credit of about $221.

"This excess revenue sharing demonstrates that Midwest Electric members are not just customers; they are members and part-owners of their electric cooperative," said Larry Vandemark, board president. "Midwest Electric belongs to the communities we serve. Members have equity ownership in our physical assets — and receive a financial return on those assets, unlike customers of other utilities."

Since 1955, Midwest Electric has returned more than $38 million in patronage cash back to its members. The co-op hasn’t had a rate increase since 2010, and over those 11 years, Midwest Electric has invested more than $26 million in electric system reliability upgrades and maintained more than 1,500 miles of line.

For more information about patronage cash back or questions regarding your bill credit, contact Midwest Electric at 1-800-962-3830.

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06029 County Road 33A
Saint Marys, OH 45885
Hours: 7:30 a.m. to 4 p.m.
Phone: 1-800-962-3830 | 419-394-4110
Fax: 419-394-8333

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©2022 Midwest Electric, Inc. A Touchstone Energy® Cooperative

  • My Home
    • Access My SmartHub Account
    • Ways to Pay/Locations
      • Payment Assistance
    • COVID-19 Assistance
    • Meter Installations
  • My Business
    • Access My SmartHub Account/Ways To Pay
    • Economic Development
    • Peak Load Management
    • Understanding Demand
    • Power Quality
    • Questline
  • My Co-op
    • Who We Are
    • New Electric Service
    • Electric Service Areas
    • Electric Rates & Fees
    • Retail Energy Choice Explained
    • Patronage Cash Back
      • Joint Memberships for Married Couples
    • Annual Meeting & Co-op Board
    • Member Appreciation Day & ACRE Political Action Breakfast
    • Political Action
    • Monthly Publications
    • National Family Month Giveaways
    • Careers
  • My Community
    • Community Connection Fund
    • Scholarships
    • Need a Speaker?
    • Kids Corner
    • Schools and Teachers
  • My Energy
    • Renewable Energy
    • Energy Calculators
    • Peak Alerts and Load Management
    • Load Management Switches
    • Energy Audits & Tips
    • Builders and Contractors
    • Heat Pumps & Geothermal
    • Water Heaters
    • Power Surge Protection
    • Rates & Billing
  • Rebates
    • Rebates for Homeowners
    • Rebates for Businesses
    • Cool Returns
  • Safety
    • Call Before You Dig
    • Safety Tips
    • Safety Demos
    • Electric Meters
    • Generators & Switches
    • If Your Power Goes Out
    • Life Support Equipment
    • Trees and Power Lines
  • FAQs
    • Member FAQs
    • Submit a Question
    • Request Information
    • Giveaway Official Rules
  • Contact Us