Singing River EPA to distribute $1.5M to customers
Published: December 2,2011
PASCAGOULA — Singing River Electric Power Association will distribute $1.5 million in capital credits to customers who purchased power from 1953 to 1964.
CEO Lee Hedegaard tells The Mississippi Press about 138,982 currently active and inactive accounts are eligible to receive a capital credit refund beginning in December.
As an electric cooperative, Singing River is owned by those who use the system and operates on a not-for-profit basis. Rates are set so the association has enough revenue to operate, make loan payments and hold an emergency reserve.
At the end of each calendar year, any balance is allocated back to members in proportion to their purchases.
When the cooperative is strong financially and the member equity level is high, the board refunds some portion of past years’ capital credits.
Current customers eligible for a refund will receive a credit on their bill automatically. Previous customers with no longer active accounts should contact the cooperative.
Singing River EPA serves about 71,000 customers in Jackson, George, Greene, Perry, Wayne, Stone and Harrison counties in Mississippi and in Washington and Mobile counties in Alabama.
To sign up for Mississippi Business Daily Updates, click here.
Twang & Tourism: The Country Music Trail
Still planning that summer vacation?
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Seafood R’evolution set to make Mississippi ‘the new culinary epicenter of the South’
- Yarber could be sworn in today as new Jackson mayor
- Pharma Pac lays off rest of workers; could end up owing state
- Ole Miss launches commitment to be 'climate neutral'
- Silver Airways ordered to continue service
- After review, MSU moves forward on new research facility
- SpaceX, Stennis officially open new rocket test stand
- Acco Brands investing $1.6M, adding 162 workers
- Gulf LNG terminal mulling export opportunities