May 23, 2013
What are Capital Credits?
What are Capital Credits?
High Plains Power is a private, non-profit 501-c(12) corporation. We sell and deliver electricity to our members at cost plus a small margin. The amount of revenue earned each year in excess of expenses is called the net margin. We use these margins to provide the working capital necessary to maintain the electric distribution system, upgrade facilities, and provide service to new members. Over the years these margins represent the member's equity in the assets of the cooperative. Every year each member has a share of the co-ops net margins allocated to them based on their patronage, or amount of electricity they have purchased. These allocations are referred to as capital credits.
As a cooperative we ultimately return these margins or capital credits to our member-owners. As the financial status of the co-op permits, the board of directors will decide to retire some of these capital credits by returning them to the members. Under current board policy, capital credits are being retired approximately fifteen to twenty years after they are earned.
Are You Moving?
If you are currently a member and have plans to move out of the High Plains Power service area, you need to make sure our office has your forwarding address. This will allow us to send your capital credit check when it comes due.
Unclaimed Capital Credits
Unfortunately, many members leave our service area without leaving us their forwarding address. As a result, we are unable to contact them when their checks have been processed. We have thousands of dollars in unclaimed Capital Credits each year. We publish this list each year in our newsletter and this list is also available on our website.
If you suspect you may have unclaimed Capital Credits with High Plains Power or you are making a claim on behalf of a deceased individual, you need to call our office at (307) 856-9426 and speak with one of our customer service representatives.
Deceased Member Capital Credits
To apply for a refund of the capital credits of a deceased member to the heirs of the estate, the enclosed form needs to be:
**If you are not able to go to the courthouse in Lander, you may file through the mail by sending the notarized form, the death certificate and a check made payable to “Fremont County Clerk” for the filing fee. You may call the Fremont County Clerk to inquire what the fee is. Mail to : Fremont County Clerk, 450 N 2nd St. Room 220, Lander WY 82520. The recorder’s office may be contacted at 1-800-967-2297 and ask for that office.
The Capital Credits earned from High Plains Power Inc. (formerly Riverton Valley Electric Assn. And Hot Springs R.E.A.) will be refunded upon approval of the Board of Directors.
If you have any questions, please contact our office at (307) 856-9426 or 1-800-445-0613 (in state toll free).
High Plains Power, Inc.
1775 E Monroe
P.O. Box 713
Riverton, Wyoming 82501