This year, the Sioux Valley Board of Directors approved a $1.04 million general capital credit retirement — for a portion of capital credits for the years 2001 and 2023. Which means YOU get the credit! Check your December bill to see your capital credit retirement.
Because Sioux Valley Energy is a not-for-profit cooperative, owned by its members, it doesn't technically earn profits. If revenues exceed expenses, the co-op earns "margins." Each year, margins are assigned to you, as capital credits, in proportion to the amount you are billed for electricity during that year. At the end of each year, if Sioux Valley Energy has received more revenue than was necessary to cover expenses, the difference is allocated back to members as capital credits based on their share of electricity purchased.
When the Co-op's financial condition permits, the Board of Directors may decide to retire or pay back some of the capital credits. Capital credits are returned to current and former members. For current members, this will be applied as a credit on bills mailed in December.