Category Archives: Electriconnection Article

Wake Electric returns more than $2 million to members in 2019

Wake Electric returning more than $2 million to members in 2019. Image of a person with money in a box.

Wake Electric has returned more than $23.6 million to members since 1951.

It’s time for you to get the credit—capital credits, that is—for helping build, sustain and grow your local electric cooperative. In mid-December 2019, Wake Electric will retire $2 million to members across the seven counties served by the co-op.

When you signed up to receive electric service from Wake Electric, you became a member of an electric cooperative. While investor-owned utilities like Duke Energy return a portion of any profits back to their shareholders, electric co-ops operate on an at-cost basis.

So, instead of returning leftover funds, known as margins, to folks who might not live in the same region or even the same state as you do, Wake Electric allocates and periodically retires capital credits to its members, which is based on how much electricity you purchased during a year.

This year, patronage capital earned in the year 1994 will be fully retired, as well as small portion of the patronage capital earned from 1995 through 2018. Capital credits earned prior to 1994 have previously been fully retired. If your patronage capital retirement equals or exceeds our minimum check amount of $25, then you will receive capital credit retirement through a check in the mail reflecting your contribution of capital to, and ownership of, the cooperative during those years. That span of time may seem like a long time ago. However, those funds helped us keep rates low by reducing the amount of money we needed to borrow from outside lenders to build and expand a reliable electric distribution system.

Driving the message home

Plug-in electric vehicles, also known as EVs, are connected, fun and practical. They can also reduce emissions and even save you money. This was the message Wake Electric wanted to ‘drive’ home this past fall when they held a series of Member Advisory Committee (MAC) meetings. Wake Electric recognizes the importance of educating members about this new…Continue Reading

We’re thankful for our strong cooperative network

November is a time of year for reflection and giving thanks. Wake Electric is grateful for the strong cooperative network that enables us to better serve you, our member, and our broader community. When you think about Wake Electric, you probably associate us with the local community. And you would be right. Our leadership team,…Continue Reading

Using smart technology to manage energy savings

Today’s growing array of smart home appliances and technologies have slowly but steadily changed our homes and lifestyles. The increased reliance on so many devices has new implications for home energy use and efficiency. So how can we save energy when we are using more electronic devices than ever before? The answer may lie with…Continue Reading

Making the cooperative difference in our communities

It’s National Cooperative Month, an annual recognition of what makes co-ops different, and the difference co-ops make. Cooperatives are local, independent and governed by a board of directors elected by their members. Electric cooperatives like Wake Electric provide the service of electricity, but our mission goes beyond that—to helping our members and communities thrive. Like…Continue Reading

Helpful heating tips

Cooler weather is on the way! Heating requires more energy than any other system in your home, typically making up about 42 percent of your energy bill. By combining proper equipment maintenance and upgrades with recommended insulation, air sealing, and thermostat settings you can save about 30 percent on your energy bill while reducing environmental…Continue Reading