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As of 6:15 p.m. Sunday, 59 members are still out in Alachua and Marion Counties in relation to storm damage from Hurricane Hermine. The radar shows some weather headed into our... Continue Reading ›

As of 5 p.m. today, 7,484 members remain without power from 13,000 this morning when work resumed. At the peak of the storm, 43,000 were without power. Weather last night and... Continue Reading ›

As of 5 p.m. Friday, September 2, 16,000 accounts are still out of power, down from 43,000 accounts at 7:30 a.m. Clay Electric restored power to 27,000 accounts today.... Continue Reading ›

Hurricane Hermine is expected to gain strength as it nears the Gulf coast south of Tallahassee this evening. According to the latest forecast by the National Hurricane Center (NHC... Continue Reading ›

Tropical Storm Colin is expected to bring heavy rains and gusty winds to Northeast Florida tonight through Tuesday morning, with the likelihood that members of Clay Electric... Continue Reading ›

The 2016 hurricane season began June 1, and while forecasting agencies are predicting an average level of hurricane activity this year, it only takes one storm to cause massive... Continue Reading ›

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Capital Credits

Capital Credits

Clay Electric's board of trustees declared a $6 million Capital Credits refund in January 2016 for current and former members who received service from the co-op from 1988 through 2014.

Capital Credits refunds are available to members of the co-op because Clay Electric is not-for-profit. As a result, at the end of each year when it's determined how much revenue exceeds total expenses, the difference is assigned to members as Capital Credits based on the amount each member was billed for electricity during the year.

For present members entitled to a pro rata share of the refund (must have received service sometime from 1988 through 2014), they received a credit on their March electric bill. Issuing a credit on an electric bill helps the co-op reduce expenses such as check printing, envelopes, postage, bank fees, etc. Former members were mailed their Capital Credits check to their latest address on file.

Also, as a special service for its business members, the co-op offers flexibility in the distribution of Capital Credits refunds in order to accommodate the particular needs of a business. For example, a business with multiple accounts may desire to have a single check issued (or perhaps a credit) to a single account as opposed to several accounts. To discuss your particular needs, call 1-800-224-4197 between 8 a.m. and 5 p.m. and ask for the Capital Credits section of the Finance and Administrative Department of the cooperative.

Capital Credits Q&A (PDF) 
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