Platte-Clay Electric Returns $2.7 Million to Consumer-Members
Kearney, Mo — Platte-Clay Electric Cooperative announced today it returned $2.7 million worth of capital credits to consumer-members in May, a month ahead of schedule. The funds, which were distributed to active accounts through bill credits, represent each consumer-member’s share of the co-op’s excess revenue.
“Our goal with returning capital credits a month earlier than originally planned was to provide relief to our consumer-members whose finances have been impacted by COVID-19 and stay-at-home orders,” said Dave Deihl, CEO and General Manager of Platte-Clay Electric Cooperative. “Member ownership is an important part of who we are as an organization and one that has a positive impact on the communities we serve.”
As a non-profit electric cooperative, Platte-Clay is owned and governed by its members. The co-op’s consumers share in any profit of the cooperative after operating costs and sound financial practices are accounted for.
In addition to returning capital credits, PCEC announced in March that it had suspended late fees and service disconnections for nonpayment – two measures that will remain in place until July. The co-op is also offering payment plans and providing information about community resources to those who need financial assistance.
Safety and reliability have remained top priorities for the cooperative throughout the COVID-19 outbreak. Detailed information about PCEC’s response to the pandemic can be found online at www.PCEC.coop/coronavirus.
About Platte-Clay Electric Cooperative
Platte-Clay Electric Cooperative (PCEC) serves more than 24,000 accounts and nearly 3,000 miles of energized line in Buchanan, Caldwell, Clay, Clinton, DeKalb, Platte and Ray Counties, just north of Kansas City, Missouri. PCEC was established in 1938 as part of the Rural Electrification Act, and today is among the fastest-growing cooperatives in the state of Missouri.
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