GLENWOOD SPRINGS, Colorado - The Holy Cross Energy Board of Directors will issue a member equity distribution refund of nearly $4.4 million to members who purchased electricity from the utility in 1997.
Over 26,700 current and former members should receive their member equity checks by mid-December. Refunds of less than $10 will be posted as a credit on upcoming member electric statements.
As a not-for-profit entity, Holy Cross's mission includes providing electric service at a reasonable cost and returning profits, or "margins," remaining after operation expenses back to its members.
"Member equity has been, and continues to be, an essential focal point for Holy Cross Energy," said Michael Glass, board president. "Our board of directors is committed to carrying on the tradition, dating back to 1963, of returning margins to our member-consumers."
Holy Cross Energy is a rural electric distribution cooperative organized in 1939, providing electric energy to more than 54,800 services in Eagle, Garfield, Pitkin, and portions of Gunnison and Mesa counties.