At the May 2020 board meeting, the Wheatland Electric Board of Trustees approved an early payout of $500,000 in capital credits in the form of bill credits on the membership’s August 2020 bills. Typically, the cooperative distributes capital credits in December. We hope that the early payout will assist members who are experiencing a financial hardship because of the COVID-19 pandemic.

The amount members receive as a bill credit is based on the amount of electricity used in 1988 and 2019 and how long you have been a member. Those Wheatland members will receive a percentage of capital credit retirements, reflecting their contribution of capital to, and ownership of, the cooperative during those years. The percentages of capital credits retired during the years mentioned are as follows:

If you were a member in 1988 and 2019, you will receive two capital credit bill credits.

The 2020 Wheatland Electric budget approved by the Wheatland Electric Board of Trustees included monies for capital credit retirement (based on the 2019 financials). We want to emphasize budgeted, in case there is some unforeseen financial crisis that would inhibit our ability to payout the remainder of the budgeted capital credits. Barring that circumstance, Wheatland is planning to pay out additional capital credits in December 2020, during our Capital Credit Harvest Day. 

Should you have any questions regarding Capital Credits, please feel free to reach out to your local office.