Dakota Electric To Pay Out $6.1 Million To Members This Month

Eagan MN

10 December, 2021

10:00 AM

Description

DAKOTA COUNTY, MN — Those who received power from Dakota Electric Association from 1995-1998 will receive a check this month, the Association said. The Association's Board of Directors recently announced that the 2021 capital credit payout to its customers is a projected $6.1 million. "Capital credits reflect each member's ownership in the cooperative," Dakota Electric said. "Any excess revenue beyond expenses that is collected each year is accrued to each member's account based on their total energy usage that year." Capital credit payout is currently on a 23-year rotation, the Association said. The goal is to have it on a 15-year rotation by 2025, according to Dakota Electric. Around 54,000 checks will be mailed on Dec. 15, the Association said. In order to receive your check, your current address must be on file with Dakota Electric. You can call 651-463-6212 to check if your current address is on file. "This highlights just one of the tangible benefits of membership in a not-for-profit electriccooperative, and we are happy to return cash at this time of year," Board Chair Jerry Pittman said.