Q&A | Capital
Credit Forms | Return to Start/Connect Existing Service
As a not-for-profit cooperative utility, Florida Keys Electric
Cooperative allocates its margins -- the revenues earned in excess
of the cost of doing business -- to its members. Margins are retained
by FKEC for a number of years to improve the electric system. These
margins are then returned to members as "Capital Credits."
Refunds are based on the amount of electricity each member purchased
in the year being refunded, so refund amounts vary in proportion
to the amount of electricity each member used in that year.
All former and current FKEC members have capital credits, which
have been or will be allocated to them. When a member discontinues
service, they remain eligible for a future refund. A big challenge
and essential part of this process is maintaining your current
address. It is crucial that you notify us of any address changes.
Your cooperation in keeping us informed of your most recent address,
whether you are a present or past member, will ensure that you
receive the credits you have earned. Update
Contact Information online or call 305-852-2431 or 800-858-8845.
Q&A: Capital Credits
Common questions about capital credits are answered below.
Q: Why did I receive a Capital Credit check from FKEC?
A: As noted
above, FKEC is a not-for-profit utility, which means it allocates
all revenues earned in excess of the cost of doing business (called "margins")
to the members it serves. Each member has an individual "Capital
Credits Account" with
FKEC, and the dollar amount allocated to each account is based
on the amount of electricity each individual member purchased for
the year. Margins are retained by FKEC for a number of
years to improve the electric system. The margins are then returned
to members as Capital Credits checks. Active members due less than
$100 will instead receive bill credits.
Q: Why does FKEC give back profits to its members when other utilities
A: Although cooperative utilities provide power to homes
and businesses in the same way as other types of electric utilities,
cooperatives are owned by consumers (not private investors or the
government). All cooperatives are also guided by seven principles
that reflect the best interests of those consumers. One of the
seven principles is "Members' Economic Participation," which
means that all members contribute equitably to the capital of their
Q: Why are the checks for all different amounts? Shouldn't we
all get a fair share?
A: Individual refunds amounts are fair, because
they are based on the percentage of revenue each member contributed
in the year being refunded. So the refund amounts vary in proportion
to the amount of electricity used by each member in that year.
Q: Why didn't I get a check?
A: Because margins are retained for
a number of years before being returned, you had to be
a member in the refund year to get a check this year. It is important
that members moving away from the area keep a current address on
file with FKEC in order to receive refunds in the future.
Q: My name has changed, what should I do?
A: If your name has changed,
contact either FKEC office to change the name(s) on the account.
We will begin to reissue checks in January.
Q: The member is deceased, what should I do?
A: Contact FKEC for
an application. Once complete, it will be reviewed by our attorney
and a check reissued based on his instructions.
Q: Do you have forms available online?
A: Capital Credits transfer
forms currently available online:
to Transfer Capital Credits of Deceased Members (4 pages)
of Transfer of Capital Credits for Active Corporations (2 pages)
of Transfer of Capital Credits for Dissolved Corporations (2
Q: I have more questions. Who should I talk to?
A: Contact the
Tavernier office (305-852-2431) and ask for Member Service. You
can also email firstname.lastname@example.org
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