2019 Capital Credit Allocation
An added benefit of your Choptank Electric membership.
Choptank Electric Cooperative is a not-for-profit member-owned utility. Any margins (profits) above the cost of service are allocated back to our member/owners based on how much electricity each member purchased during the year.
The 2019 capital credit allocation was processed in June 2020, after the 2019 financial statements were reviewed and audited. The 2019 capital credit allocation notice for active members will be shown on the July 2020 electric bill in the left message area above the bill stub. Inactive members with 2019 electricity billings will be mailed a separate allocation notice.
The capital credits (margins) allocated to members’ accounts for 2019 totals $10,314,610. This is allocated between Choptank Electric (Co-op), which totals $8,684,162, and Old Dominion Electric Cooperative (ODEC), Choptank’s energy supplier, which totals $1,630,448.
The Choptank Electric Board of Directors reviews the Co-op portion of capital credits each year and decides how and when to repay the amounts allocated. Their decision is based on a variety of factors including the overall financial condition of the Cooperative. Any decision to repay the ODEC portion of capital credits would be entirely contingent upon refunds received from Choptank Electric’s energy supplier.
If you have questions about your capital credits, please contact our Member Service Center at 1-877-892-0001. Please have your account number available when you call.