Important news for folks in the Berryville area, and east and south of Frankston—TVEC substation crews will be taking a short planned outage to safely conduct work in the substation. The outage should be less than 20 minutes. Find more information and a map of the affected area here.
Thanks again for your patience as TVEC crews and contractors restored power after Sunday’s storms, which apparently included at least three tornadoes in the TVEC service area. Thankfully they did not stay on the ground long.
The TVEC Board of Directors approved capital credit retirements of just over $5 million in Tuesday’s meeting. That makes 11 straight years of capital credit refunds totaling nearly $40 million. This year’s disbursement includes all remaining capital credits allocated in 1991 and two percent of capital credits from 1992-2018. Here is a description of TVEC capital credits and how that process works.
It is a little bit like having stock in a company, as member-owners build up equity over time, then it is paid back from operating margins as financial conditions allow. In regular retail electric providers, that excess revenue is either reinvested or goes home to the owners as profit or dividends. In co-ops, it is the capital that is used to operate the company and/or returned to member-owners.
I understand the frustration of some members who, like myself, receive smaller refunds because we haven’t been members very long. I have been a member for more than 4 years now and my refund in 2018 was a little over $5. However, if you look at it from a broader perspective, having all eligible members get a refund of a percentage of their accrued capital credits is a fair way to spread the benefits of co-op membership to as many members as possible.
Rain and storms are possible again Thursday and into Friday, but it doesn’t look like anything too severe.
Fall temperatures with lows in the 40’s mean a lot of heaters kicking on. Be sure to think about heater safety, especially with space heaters and any propane/natural gas heaters. And, of course, making home improvements to keep the warm air in are some of the best dollars spent. The goal is, as TVEC energy management adviser Chris Walker says, “Keep more of what you make.”
Don’s Random Things on the Internet
Video – FedEx vs. UPS I am constantly amazed by the logistics involved in getting things from point a to point b.
Related to that – how Amazon handles returns.
We’ve come a long way… here is the entire internet in 1973 on one sheet of paper.
From the early days of the internet to maybe too much information – like analyzing bathroom habits around the world.
Electricity related… scientists are working on a device to create electricity at night, an “Anti-Solar Panel”
Have a great finish to the week everyone!