UEC to distribute $2.5 million to members
Published 1:30 pm Tuesday, April 7, 2020
HERMISTON — Umatilla Electric Cooperative announced on Tuesday that its board of directors approved the distribution of $2.5 million to the cooperative’s members in April.
The distribution is part of UEC’s Capital Credits program, and refunds will be based on the amount of power customers consumed in 2018. According to a news release, a residential customer consuming an average amount of energy during 2018 will receive a check for about $70.
The refunds apply to all classes of customers — 9,905 accounts overall. Checks should appear in mailboxes in mid-April. Refunds of less than $10 will be retained in the customer’s account and added to future refunds.
Because UEC is a not-for-profit, member-owned company, the cooperative operates at cost and returns its net operating revenues to members through the Capital Credits program. According to UEC, they have returned more than $80 million to members since 1960.
In a statement, CEO and General Manager Robert Echenrode said employees’ hard work and fiscal responsibility have a positive effect on the bottom line, making such distributions possible.
“We are proud to be able to make this distribution in a time of need to help stimulate a portion of the economy,” he said.
For questions, call 541-567-6414 or email customer.service@umatillaelectric.com.