Inland Power is my cooperative!
Big bang for your buck
September 2020
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Capital Credits - returning money to you!
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10110 W Hallett Rd. Spokane, WA 99224 MAIN OFFICE
(509) 747-7151 TOLL FREE
(800) 747-7151 BILLING QUESTIONS
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inside... Energy September is EV Month
I
n today’s world, we expect the lights to turn on when we flip the switch and the coffeemaker to work each morning.
day life. We can see what we’re getting for our money and we pay the price for those services. In contrast, when we use electricity, we don’t necessarily “see” all that we’re getting for our money.
Because electricity is so abundant, we don’t think much about it. Since many But considering ELECTRICITY REMAINS of us have been what electricity GOOD VALUE spending more time A does for us, it’s a The cost of powering your home rises slowly when compared to other common expenses. Looking at price increases over the last at home over the tremendous value for five years, it’s easy to see electricity remains a good value! past few months, our quality of life as Average Annual Price Increase 2014-2019 Percent we have likely been well as our budgets. 4.0 3.7% using more energy. For comparison, 3.5 And yet, we still consider that 3.0% 3.0 2.6% expect an endless the average rent 2.5 supply of power with increase was nearly 2.0 uninterrupted service 1.5 4 percentover the 0.4% 24/7. The only time last five years. The 1.0 we really think about 0.5 cost of medical electricity is when care has increased 0 Rent Medical Care Education Electricity the power goes out 3 percent during U.S. Bureau of Labor Statistics or perhaps when the Sources: this time, and Consumer Price Index monthly bill arrives. education was not too far behind at 2.6 percent. So, where did Given how electricity powers our modern electricity rank? Electricity increased by less lifestyle every day, it’s a great value – especially when compared to other common than half a percentage point, 0.4 percent. services and expenses. For example, think back to the cost of a gallon of gasoline 20 years ago. Consider the cost of groceries or a cup of your favorite specialty coffee from a few years back. In comparison, the cost of electricity has remained largely flat, unlike most other consumer goods. Most of us have a cell phone to stay connected and subscribe to cable channels so we can enjoy more viewing options. Many of us consider these necessities for modern
Your Cooperative Electricity is still a great value!
Safety Be ready for the storm Safety Safe hunting tips
Y
ou own Inland Power, which operates on a not-for-profit basis as a cooperative.
Inland Power provides the reliable service you expect and deserve as valued members of your co-op.
Our sole purpose is to deliver safe and reliable power to you at cost. All revenue exceeding the cost to provide electric service is allocated back to you in the form of capital credits. Once allocated, your capital credits are held by the cooperative as a resource to replace aging infrastructure, maintain reliability and operate your cooperative. This system keeps your rates low and your service reliable.
We recognize that the past few months have been challenging for many of our members and we are here to help. If you have questions about your account, please give us a call at (509) 789-4277. Inland Power is your electric cooperative and our sole purpose is to serve you and the needs of our community. That’s everyday value.
The amount of capital credits you are allocated each year is based on how much electricity you used during the previous year. In time, you will receive all your allocated capital credits. The cooperative’s board of trustees retires capital credits when finances allow, often on an annual basis. Portions of all vintage years are
retired each fall and may take up to 35 years to return all vintage year allocations to you. 2019 Allocation Starting in 2017, the board of trustees voted to allow members to receive their capital credit allocation payment early, but it must be equitable with those who wait for up to 35 years. In other words, $1 today is not the same as it will be 35 years from now. Therefore, any early payment must be discounted or reduced to a level that makes it equivalent to those members on a 35-year capital credit rotation. The 2019 discounted capital credit payout will be applied as a credit to your November bill. Any member who wishes to opt-out of the discounted payout program may submit their request by September 30, 2020 by returning the “Opt-Out Stub”
found on our website at inlandpower.com. By switching to the discounted payout method, members can participate in the benefit of being a cooperative member without having to wait 35 years for the full benefit. 1996-2017 Vintage Year Allocation For those members who have unpaid capital credits from years prior to 2017, or who opt-out of the discounted program and have current year capital credits, their capital credits will continue to be retired at the regular interval and paid to you as the board of trustees approves the payments every year. Please continue to look for your capital credit checks from vintage years which are typically mailed each December. If you have any questions, please visit inlandpower.com or call our member services department at (509) 789-4277.