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BASTROP COUNTY — A longtime local electric power provider will return more than $11 million in capital credits to its members this year.
Bluebonnet Electric Cooperative’s board of directors approved the payment, the largest amount in its history, late last month. Current members will see a credit on their May electric bills, while former members still owed capital credits will receive checks beginning this week. “The continued growth in Bluebonnet’s service area, coupled with our conservative financial management, has allowed us to return record amounts in capital credits to our members,” said Matt Bentke, Bluebonnet’s general manager.
Capital credits represent each member’s share of the cooperative’s margins based on electricity usage. The payout reflects a $747,000 increase over last year’s return, according to representatives.
During the past 10 years, Bluebonnet has returned $76 million in capital credits to its members, Bentke added.
“Approving the return of capital credits is one of the most rewarding responsibilities our board carries,” said Ben Flencher, board chairman. “Every year, we focus on making investments that ensure Bluebonnet’s long-term growth while benefiting the communities and members we serve.”
In addition to the return, Bluebonnet also awarded $400,000 in scholarships this spring to 160 graduating high school seniors across its 14-county service area, including several in Bastrop County. The $2,500 Scholarships of Excellence are intended to support students pursuing college degrees or trade certifications who will continue to give back to their communities, Bentke said. Applicants were judged on academic achievement, leadership, community service, work experience, extracurricular involvement and essays.
Scholarship funds do not come from members’ electric bill payments or rates, according to representatives. They are funded through Bluebonnet’s Annual Scholarship Golf Tournament and unclaimed capital credits returned to the cooperative from the state.
