August 31, 2009

FKEC Returns $1.25 Million in Capital Credits

A total of $1,252,000 is being refunded to Florida Keys Electric Cooperative members as Capital Credits this year.

FKEC has issued 11,026 refunds in the following amounts: 58 larger than $1,500; 35 from $1,000 to $1,499; 965 from $100 to $999; 1,978 from $50 to $99; 4,458 from $25 to $49; and 3,532 from $10 to $24. Active account holders due less than $20 do not receive checks; they instead receive credits on their monthly bills.

This year's Capital Credit refund represents the entire balance of FKEC's margins from 1991. Refunds are based on the amount of electricity each member purchased in 1991, so refund amounts vary in proportion to the amount of electricity each member used that year.

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.

Members receiving checks in the wrong name or in the name of a deceased member should contact Member Service at 305-852-2431. More information is also available on www.fkec.com.

FKEC provides electricity to more than 31,000 members from the Monroe County line to the top of the Seven-Mile Bridge.

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