Basin Electric shared that the board of directors unanimously voted at its December meeting to approve a $30 million bill credit for Basin Electric’s member-owners.
Directors voted to give back to the cooperative’s members due to consolidated financial results being better than projected for 2021. Members will see a bill credit on their December wholesale power bill.
This bill credit is in addition to the $34.5 million patronage retirement that was approved by the Basin Electric board of directors in November and distributed to the membership in early December.
Basin Electric is a member-owned, not-for-profit cooperative that often returns patronage capital to its member-owners, but can also utilize bill credits to reduce their power bills. Since 2000, Basin Electric will have returned $817.2 million to the membership via patronage capital retirements, bill credits, and power cost adjustments.
“One of the benefits of being a member of a cooperative is that members own their cooperative,” said Basin Electric Board President Wayne Peltier. “As a board, we are always grateful when we can return money to the membership.”
