Ohio electric co-ops return $31 million to consumers

Ohio’s electric cooperative network, made up of 24 not-for-profit, consumer-owned cooperatives throughout the state, said that in 2016 the network returned more than $31 million in “capital credits” to member-consumers.

Capital credits represent revenue in excess of operating costs disbursed to co-op members annually, based on the individual member’s share of purchased electricity from the cooperative, over time, the Ohio Electric Cooperatives network said in a release.

LOCAL IMPACT: Ohio community fights proposed DPL coal plant closures

The credit can be either be a check or a rebate on a future bill.

“Either way, it’s actual money,” said Patrick Higgins, a spokesman for the network.

Piqua-based Pioneer Electric Cooperative serves 16,647 consumers in counties in Montgomery, Clark, Miami and other area counties. It has 2695 miles of lines and 58 employees.

RELATED: DP&L expands development role

Co-ops serve about 1 million Ohioans in 77 of the state’s 88 counties.

Ohio’s electric cooperative network collectively paid more than $26 million in 2016 property taxes, the organization said.

FIVE NEW BUSINESS READS

ExploreNeed: Workers. Goal: Raise $1M-plus for manufacturing training

ExploreWhat you need to know: Highway fatals in 2016 highest in past 10 years

ExploreWHAT TO KNOW: 3 things about possible military base changes

ExploreNation’s 4th biggest city turns to local firm

ExploreKettering employer targeted in federal anti-trust suit

In Other News

Centerville extends moratorium on new gas stations, convenience...

Former Wiley’s GM to lead Ditto Bar’s Uptown Centerville debut