What are capital credits?
At the end of each year, we calculate the difference between the REMC’s revenue and the actual expense of operation for the year. This difference is called operating margins or patronage capital. Patronage capital is used throughout the year to pay for the installation of poles, wire, transformers, and other equipment, and to repay loans. All Jackson County REMC members who purchased electricity from the REMC in 2023 have been assigned proportionate shares of patronage capital in the form of capital credits.
REMC capital credits allocated
A total of $9,328,173 has been allocated to the capital credit records of Jackson County REMC members based on energy billed in 2023.
Capital credit allotments for individual accounts can be calculated by totaling the electric bills for the year and subtracting sales tax, late charges, and miscellaneous fees.
This total should then be multiplied by 0.1360175346. This means that for each $100 of electricity you purchased, $13.60 has been allocated to your capital credit records. If you have trouble making the calculations, you can call the REMC office, and we will tell you the amount allocated.
Hoosier Energy capital credits allocated
Additionally, $1,462,096 has been allocated to the capital credit records of Jackson County REMC members for Hoosier Energy patronage. Hoosier Energy, the wholesale power supplier of electricity distributed by Jackson County REMC, is also a cooperative. As such, it allocates patronage capital to its members. The capital credits allocated to our members based on energy billed to their accounts in 2023 may be calculated using a factor of 0.0213193576, or $2.13 per $100 of electricity purchased.
If you move …
We ask that you keep us informed of your correct mailing address, so we can locate you in the event our board of directors decides it is feasible to refund capital credits at a future date.
Allocations of deceased members
Capital credit allocations of a deceased member can be assigned to one legal heir upon proper notification.
Questions?
Please contact us at 812-358-4458 if you have any questions about the capital credits process.
