This year, the board of directors approved the retirement of $2.6 million in capital credits to be paid back to members. Dakota Electric is returning the remaining 2002, 2003, and 2004 allocations, and 60% of the 2005 allocation.
Capital credits in a cooperative like Dakota Electric represent members’ ownership and are derived from annual profits. These credits are allocated based on electricity usage and reinvested to reduce borrowing, keeping rates low. The cooperative aims to retire these credits on a 15-year rotation by 2025, as approved by the board of directors.
Members who purchased electricity in 2002-05 will be mailed a check this month. Watch for your check arriving soon!
Dakota Electric sends out Circuits monthly newsletter to our members each month. Inside, members can find valuable money- and energy-saving tips, special event details, news about Dakota Electric and electric utility industry information that may impact electric bills.
Dakota Electric Association
4300 220th Street West
Farmington, Minnesota 55024