|HEA board approves capital credits fund|
|Written by Holyoke Enterprise|
Mark Farnsworth, general manager of Highline Electric Association in Holyoke, announced the Highline board of directors approved a capital credits refund of approximately $1,544,000 to the membership. In addition, Highline retired capital credits totaling approximately $100,000 to estates in 2011.
“At the November board of directors’ meeting, the board voted to return all of the Highline Electric Association’s 1997 capital credits and 12.977 percent of 1998 plus 69.317 percent of the generation and transmission capital credits of 1992,” Farnsworth said. “This means that if you purchased electricity from Highline in 1992, 1997 or 1998, you will receive a check for your portion of Highline Electric’s margins.”
Farnsworth stated Highline will issue the checks in mid-December. “These refunds are dividends paid to HEA members as they are the owners of the electric utility,” he added. “This is one of the advantages of doing business with your local cooperative.”
Highline Electric is a member-owned rural electric cooperative that serves over 10,000 meters in all or part of seven counties in northeastern Colorado and four counties in southwestern Nebraska. The association is also a partner in Touchstone Energy, the national advertising brand of electric cooperatives.
Holyoke Enterprise December 8, 2011