Exciting news! We’re happy to share that GVEC will be distributing $4 million in capital credits to our eligible member-owners this July. This distribution reflects our ongoing commitment to prudent financial management, our cooperative principles and to you, our valued GVEC membership.
- Bill Credit for Active Members: Eligible active members who had electric service in 2023 will receive their capital credit distribution as a bill credit clearly displayed on the electric bill received after July 1, 2024.
- Checks for Inactive Members: Eligible inactive members will receive a check, mailed to the last known address on July 5, 2024. Qualifications apply.
“I am pleased to report that while GVEC’s financial position remained strong during these past few years, we have successfully recovered from the financial effects of Winter Storm Uri in 2021. Proof of our solid financial condition is apparent with recent favorable scores from our national credit rating agencies of Fitch and Standard and Poor’s and this distribution of capital credits to our members. I commend the Board of Directors for their diligent stewardship and for taking this step, especially at this time of year when bills are typically higher due to summer temperatures,” said General Manager and CEO Darren Schauer.
If you have any questions about the distribution, please feel free to reach out to our customer service team at 800.223.4832. We’re here to assist you.
Capital credit dividends are paid out to members—past and present—at the Board’s discretion, when financial conditions allow. Be sure to keep your address up to date with GVEC, so we may continue sending any further capital credit funds to you in the years ahead.
The GVEC Board of Directors recently passed a resolution authorizing the allocation of 2023 margins to members who received electric service from GVEC during 2023. The Board also authorized the allocation of margins for members who subscribed to GVEC Internet services in 2023.
