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 Previous customers with no longer active accounts should contact the cooperative.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.
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Travis retiring as head of Mississippi World Trade Center
- Pearl ordering rental properties to retrofit with sprinklers, build storm shelters
- Drew Brees settles lawsuit alleging investment fraud
- Court rules board can discipline West Virginia radiologist
- Deer processors need to use caution to insure safe, tasty venison
- Winchester lands $50M ammunition contract from Homeland Security
- Legislators begin work on FY2016 state budget
- Biloxi baseball project still alive but may be held for 2015
- Doctor convicted of using phony church for tax shelter