THE MESSENGER
A Publication for North Arkansas Electric Cooperative Members
NAEC returns $5.9 million in capital credits
North Arkansas Electric Cooperative (NAEC) will return $5,957,140 in capital credits to members in December. This marks the 38th consecutive year NAEC has refunded margins and brings the total returned to nearly $59 million since the co-op’s founding in 1939.
What are capital credits?
Unlike investor-owned utilities, NAEC operates as a not-for-profit cooperative and is owned by the members we serve. At the end of each year, the co-op subtracts, on a taxable basis, operating expenses from the amount of money earned through rates. The remaining balance is called taxable margins.
Taxable margins left over at the end of the year are allocated, or assigned, to each member’s account based on the amount of electricity for which each was billed.
The capital is retained by NAEC to use as operating capital for a period of time. This decreases the need to raise rates or borrow money to build, maintain and expand a reliable electric distribution system.
Every fall, the NAEC Board of Directors evaluates the overall financial condition of the co-op and decides the amount of capital, if any, to refund.
Sole Power Project deliveries
Will I receive a refund?
This year’s retirement represents approximately 57% of the margins assigned for 2000, approximately 78% of the margins assigned for 2001 and approximately 17% of the margins assigned for 2022. Only members who were billed for electricity during these years will receive a refund in 2025.
How are refunds given?
Refunds will be distributed after Dec. 1. Members with a refund of less than $50 will receive a credit on their December statement. Members with a refund of $50 or more will receive a check in the mail.
Nonactive members with a refund of more than $2 will receive a check in the mail as well. That is why it’s important to maintain a current mailing address on file with NAEC if you ever move off of co-op lines.
Please call NAEC at (870) 895-3221 or visit an NAEC office during regular business hours with any questions about capital credits. You also may send a message to info@naeci.com; please include your service address or account number as well as your phone number.
Cherokee Elementary School third grade receives athletic shoes through North Arkansas Electric Cooperative’s Sole Power Project. For the past 12 years, NAEC has given new shoes to each third grader at the 12 public schools in the co-op’s service area. MERRY CHRISTMAS! MERRY CHRISTMAS! HAPPY NEW YEAR!
NAEC’s offices will be closed Dec. 24-25 and Jan. 1. A dispatcher will remain on duty; personnel will be on call in the event of an outage.
ITEMS FOR BID
NAEC has items for sale to the highest bidder. They may be viewed from 8 a.m. to 3 p.m. weekdays at the Salem office at 225 South Main Street. Send this completed bid form in an envelope marked “Bid” to NAEC, P.O. Box 1000, Salem, AR 72576 or drop it off at an NAEC office. Bids must be received by 1 p.m. Dec. 19. NAEC reserves the right to refuse any or all bids. Photos of items for bid are posted at naeci.com/equipmentsales. Call (870) 895-3221 with questions.
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ENERGY EFFICIENCY TIP OF THE MONTH
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