Since its inception in 1946, MPE has retired over $15 million in patronage capital (a.k.a. capital credits) to its member-owners. As a member-owned cooperative, MPE does not operate for profit. Instead, it allocates to its member-owners shares of its net revenue remaining after all operating expenses have been covered. These shares are called capital credits. They are allocated yearly based on your MPE electricity usage. Part of that allocation is paid to member-owners when the MPE Board of Directors determines that the financial condition of the cooperative and any applicable loan covenants are favorable for margins to be returned. To the extent that they are not refunded to member-owners, capital allocations are used by MPE to pay for infrastructure. The MPE Board of Directors is committed to returning capital to its end-use members while also maintaining and improving infrastructure, meeting financial requirements and maintaining affordable electric rates. With rare exceptions, MPE refunds patronage capital annually.
Capital credits are issued as either credits to members' accounts or checks are mailed. Because refunds are paid even after a member-owner discontinues service, it is important that MPE stay informed of any address change.