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Fall River customers to receive cash back payments

Fall River Electric

ASHTON, Idaho (KIFI/KIDK)-Fall River Electric Cooperative has mailed just over $1 million in cash back checks to more than 6,200 owner-members this week.

The checks come from extra revenues collected by the co-op that exceed operating costs. Those revenues become patronage capital that is then disbursed to owner-members (customers) on an approximate 20-year cycle.

The retirement cycle helps Fall River achieve its ideal equity level, which helps the co-op obtain loans at lower interest rates.  That, in turn, helps keep electric rates lower.

The amount of cash back that a member receives is based on how much electricity they purchased during the years being retired. This year, members are receiving patronage capital earned in 1999 and a portion of 2000.  

“Fortunately our staff and management continue to do an outstanding job of managing our financial and physical resources, so our equity has dramatically improved in recent years, now at 45 percent, which is a significant contributing factor to the board’s ability to retire patronage capital to our owner-members,”  said Fall River CEO/General Manager Bryan Case.

You can learn more about the Fall River program here.

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