Current and former Clay Electric members could be seeing some extra cash this month.
The Clay Electric Cooperative’s board of trustees has declared a $12 million Capital Credits refund. While these refunds are normally disbursed in March, the trustees say they wanted to get the money out early to help families and businesses struggling amid the COVID-19 pandemic.
“As COVID-19 began affecting our region in March, we quickly took appropriate steps to reduce the effect on our members. We suspended disconnects due to nonpayment, and lowered the cost of power in April to ease financial burdens on families. I commend the board for voting to return Capital Credits early and lowering the cost of power again to continue assisting members when it is needed most, around the holidays,” said General Manager/CEO Ricky Davis in a statement.
If you’re a current Clay Electric member that’s entitled to a refund, you should see a credit on your December bill. The average residential credit amount is expected to be $29.48.
If you’re a former Clay Electric member entitled to a refund, checks will be mailed out around December 11th. For this group, the average check is expected to be $65.70.
For more information, you can visit Clay Electric’s website HERE.