Wake Electric returns more than $1 million to members in December

Capital credits

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 2017, Wake Electric will retire $1 million to members across portions of 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 1993 will be fully retired, as will a small portion of the patronage capital earned from 1994 through 2016. Capital credits earned prior to 1993 have previously been fully retired. If your patronage capital retirement equals or exceeds our minimum check amount of $15, 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 the lid on rates, reduced the amount of money we needed to borrow from outside lenders to build and expand a reliable electric distribution system.  To learn more about capital credits from Wake Electric, click here.

Wake Electric offers college scholarships; applications available Dec. 1

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Deadline Dec. 13 for students to apply for scholarship and Washington, D.C. trip

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Area teachers awarded Classroom Technology grants from Wake Electric

Seven teachers in Durham, Johnston and Wake counties were awarded a 2017 Classroom Technology grant. The grants, totaling close to $20,000, are for specific pieces of technology for use in the classroom.  (Note:  The Classroom Technology grant program is separate from the Bright Ideas grant program). Esta Lampkin Zebulon Gifted & Talented Magnet Middle Zebulon Henrietta…Continue Reading

Wake Electric awards grants to local non-profit agencies; next application deadline is Dec. 8

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2017 Bright Ideas Teacher Grant winners announced

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Planned outages for Friday, October 13

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High school juniors apply for scholarship and trip to Washington, D.C.

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Non-profit organizations can apply for grants from Wake Electric; deadline Dec. 8

On a quarterly basis, Wake Electric offers grants to area non-profit organizations.  These grants are administered as part of our Operation RoundUp program.  The next deadline to apply is Dec. 8 at 5 p.m.  For details on the program and application process, see below. Operation RoundUp: Mission:                                             The Wake Electric Foundation is a not-for-profit…Continue Reading