Your share of 2023 capital credits to be applied as an energy credit in May!
As you receive your dividend, we hope that you are reminded of the unique benefits that members of electric cooperatives enjoy. The energy credit will be applied to billing statements generated in May (see "General Retirement Credit" line).
As a member-owner of Mid-Ohio Energy Cooperative you receive electric service at cost, and any margins, or excess revenues, the cooperative makes is allocated back to you as capital credits.
The amount credited to you depends on how much electricity you used that year, or your patronage. We first use the money as working capital, investing it in new poles, wire, transformers, substations, and other infrastructure, in order to provide a reliable supply of cost-effective electric power.
Those credits are then retired — or paid back — to you as it is financially feasible.
In 2023, Mid-Ohio Energy Cooperative is returning $566,000 in patronage capital back to members. Last year, Mid-Ohio Energy also paid out patronage to estates totaling nearly $488,000. When combined with the general patronage retirement, Mid-Ohio Energy crosses the $1 million dollar milestone for total patronage returned!
In true cooperative fashion, the benefit goes back to the membership. Receiving capital patronage sets cooperatives apart from for-profit utilities and that is why those who receive service from us are called “members” not “customers”. Without our members, there would be no Mid-Ohio Energy!
Notes for non-traditional capital patronage payment scenarios...
Estates: The spouse or executor of a deceased member may request full payment of the deceased member's designated patronage allocation. To request payment of patronage capital to an estate, please visit our offices to submit an official request. Please bring a copy of the member's death certificate and any executor papers.
PrePay members: Members enrolled in PrePay metering received their share of patronage as an energy credit to the prepaid account in late-April/early-May.
Former members: Former members of Mid-Ohio Energy will continue to receive allocations for their share of patronage accrued during their time as an active member of the cooperative. Please be sure to keep the co-op updated with your most recent address / contact information.