PLYMOUTH, NH – The New Hampshire Electric Cooperative (NHEC) Board of Directors has approved the return of over $2 million in capital credit payments to members and former members.

The 2023 capital credit retirement will result in the payment of all remaining capital credits from 1984, all of 1985, and part of 1986. Approximately 10,000 current members who had service with NHEC during that time will receive a credit on their July 2023 bills. Former members who no longer take service from NHEC will receive checks for their patronage. This is the third consecutive year NHEC will be returning capital credits to its current and former members.

NHEC is a nonprofit electric cooperative, which means it is owned by the people and businesses it serves. When NHEC takes in more revenue than it spends in a given year, the cooperative builds equity. Unlike investor-owned utilities, however, nonprofit cooperatives return this equity back to the member-owners who created it.

The equity NHEC builds over time is used to fund capital projects, which keeps the electric distribution system safe and reliable, and helps keep electric rates affordable and stable. NHEC’s member-owners are allocated their portion of NHEC’s equity generated each year based on their electric usage. Members’ accrued equity in NHEC is represented by capital credits that are accounted for in NHEC’s financial records and returned to members when the NHEC’s finances allow. Following a Financial Soundness Review in 2023, the NHEC Board of Directors determined that NHEC is in a good position to return equity to members for the third consecutive year.

Current and former NHEC members have the opportunity to donate their capital credit payments to the NHEC Foundation or Project Care. Project Care and the NHEC Foundation are nonprofit 501(c)(3) organizations that provide bill assistance to NHEC members and support to local community nonprofit organizations.