MILLIONS IN LCEC EQUITY RETIRED THIS YEAR

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The LCEC board of trustees has approved a $14.6 million 2018 equity allocation.

In addition, an $11.9 million equity retirement was approved, putting those funds back in the pockets of active and inactive electric cooperative members.

This amount includes an $8.1 million return of equity to inactive customers with memberships that have been closed since 2011, and an additional return of $3.3 million to current and inactive members.

Customers will see credits on their bill or equity checks soon.

Over the years, LCEC has returned more than $280 million in equity to customers.

Equity in LCEC is not equivalent to cash or liquid assets. Equity represents members’ investment in LCEC’s electrical system in the form of substations, poles, lines, transformers, and other facilities.

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