Lower Valley Energy $1.8 million Refund To Customers
Happy Holidays! The Lower Valley Energy Board of Directors recently approved repayment of $1.8 million in patronage capital to its members this year. The checks are mailing out as we speak, and represent margin for those who purchased electricity in 1998 (and a portion of 1999).
Patronage capital, one of the cornerstones of the cooperative model, is a term for equity or ownership in Lower Valley Energy. Essentially, margins made during the year in excess of operating costs and expenses build your equity. With low rates and equity returned, it pays to own your own energy company!