◆ Power coop injects over $3.1 million into local economy.
This week Lower Valley Energy released numbers relating to economic impact.
“One of the fundamental principles of a cooperative utility versus an investor-owned utility is the return of patronage capital (or equity),” said Brian Tanabe, communications manager for Lower Valley Energy. “Lower Valley Energy injected over $3.1 million back into the local economies this year by returning patronage capital back to its members.’
“Each time you pay your Lower Valley Energy bill, you build equity in your energy cooperative,” Tanabe continued. “The amount of equity you earn is determined by the net margins – the amount of revenue collected in excess of expenses for that year.”
According to Tanabe, the Lower Valley Board of Directors approved returning patronage capital.
“Cooperative ownership brings you value year after year,” he said. “The Lower Valley Energy team is committed to providing you with exceptional and reliable service at some of the lowest rates in the country. Lower Valley Energy appreciates your business and looks forward to serving you in the years to come.”