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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 ›

If you weren't able to attend our 78th Annual Meeting in April, this video features some of the highlights from the big day.

Clay Electric Cooperative’s members re-elected three members to the board of trustees during the co-op’s 78th annual meeting on April 28 at the cooperative’s central office.... Continue Reading ›

Clay Electric’s 78th Annual Meeting is this Thursday, April 28, in Keystone Heights. Members will find it to be an activity-filled day. There will be health screenings, a... Continue Reading ›

A forecast team from Colorado State University has predicted an average level of activity in the Atlantic basin this hurricane season. Phil Klotzbach and William Gray of the... 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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