August 25, 2006

FKEC RETIRES $682,283 IN CAPITAL CREDITS

Florida Keys Electric Cooperative retired a total of $682,283 in Capital Credits this year.

Of this amount, nearly half a million dollars has been distributed in the form of 9,992 checks mailed to current members or former members on August 25. Active account holders due less than $20 do not receive checks; they instead receive credits on their monthly bills.

The checks were sent in the following amounts: 50 larger than $1,000; 464 from $100 to $999; 662 from $50 to $99; 2,413 from $25 to $49; 3,670 from $10 to $24; and 2,733 less than $10.

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 and to avoid borrowing money. These margins are then returned to members as Capital Credits.

This year's Capital Credit refund represents the remaining margins from 1989. Refunds are based on the amount of revenue each member paid in 1989, so refund amounts vary in proportion to the amount of electricity each member used that year.

Members receiving checks in the wrong name or in the name of a deceased member should contact either the Tavernier office (852-2431) or the Marathon office (743-5344) for the appropriate forms.

FKEC provides electricity to more than 30,000 members from the Monroe County line to the Seven-Mile Bridge.