Holy Cross Energy to mail checks to members
Some Christmastime checks from Holy Cross Energy will help take the edge off high winter heating bills for thousands of its customers.In early December, Holy Cross will mail out $3.8 million in member equity distributions.Of those receiving checks, residential members will see amounts between $35 and $70 and commercial members will receive between $140 to $280. Active members entitled to amounts less than $10 will receive a credit on their electric account instead of a check. The distributions will be made to those who received service in 1994.As a not-for-profit electric utility, Holy Cross allocates any annual revenues that exceed expenses back to its members in the form of member equity. This December distribution is the first half of 1994’s allocation.The approximately$3.8 million balance of 1994’s allocations is scheduled to be distributed in December 2005.”Holy Cross Energy’s board of directors is committed to the return of member-provided capital. With this $3.8 million member equity distribution, over $33.3 million has been returned to members in the last five years,” said Tom Turnbull, board president of Holy Cross.Recent member equity distributions include $5.2 million in December 2003 and more than $1 million in May 2004. Members who received service in 1994 who do not receive a member equity check by Jan. 15 are asked to contact their nearest Holy Cross Energy office.Holy Cross Energy provides electric energy to nearly 50,000 services in Eagle, Garfield, Gunnison and Pitkin counties.Holy Cross Energy provides electric energy to nearly 50,000 services in Eagle, Garfield, Gunnison and Pitkin counties.
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