Holy Cross Energy returns $2.8M to members | PostIndependent.com

Holy Cross Energy returns $2.8M to members

GLENWOOD SPRINGS, Colorado – The Holy Cross Energy board of directors recently approved a member equity distribution refund of nearly $2.8 million to customers of the utility who purchased electricity from Holy Cross Energy in 1996.

More than 25,500 current and former members should receive checks by mid-December. Refunds of less than $10 will be posted as a credit on electric statements.

Membership with Holy Cross Energy entitles all members to share in its success. As a not-for-profit entity, Holy Cross’s mission includes providing electric service at a reasonable cost and returning profits remaining after operation expenses back to its members.

“Member equity is a cornerstone of the cooperative way of doing business,” said Michael Glass, board president of Holy Cross Energy. “The board of directors understands the hardships our members are facing in these difficult economic times and is pleased to be able to again return margins, despite the many challenges currently confronting our industry.”

Holy Cross Energy is a rural electric distribution cooperative organized in 1939, providing electric energy to more than 54,500 customer accounts in Eagle, Garfield, Pitkin, and portions of Gunnison and Mesa counties.

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