Whetstone Valley Electric is a cooperative, owned by its members. We do not technically earn profits. Each year, the revenue collected from each member less the cost to serve electricity is allocated as capital credits. This is your investment in the Cooperative and will eventually be returned to you. We strive to retire annually up to 5% of the outstanding balance of the allocated Operating Capital Credit and additional Non-Operating Capital Credits if financial conditions warrant.
How are capital credits calculated?
The amount of capital credits you earn in a given year is based upon the amount of capital you contribute to the cooperative through your purchase of electricity. The sum of your monthly bills for a year is multiplied by a variable percentage to determine your capital credits.
Can I use the capital credits I have allocated to pay my electric bill?
No. Allocated capital credits may not be used to pay current bills. Your electric bill is due now, whereas your capital credits will be paid to you in later years.
What happens to the capital credits of a member who dies?
The capital credits of a deceased member may be paid without waiting for a general retirement. Although these estate payments are not automatic, a representative of the estate can request the credits by submitting certified forms. The request will be considered by the Whetstone Valley Electric Board of Directors. If early retirement of the capital credits is approved, a check will be issued to the estate for 100% of our Cooperative portion of capital credits and 15% each of the Basin Power and East River portion of capital credits of the remaining balance and the account closed.
If you leave the Whetstone Valley Electric Service Area, always make sure we have your current mailing address.