Navasota, TX – April 20, 2020 – In an effort to provide immediate financial assistance to those affected by COVID-19, MidSouth Electric Co-op is offering Kilowatt Relief to all active members. On May and June statements, members will notice a new bill credit, lowering their payment and keeping more money in their pockets.
To immediately relieve financial hardship and help members more efficiently, the MidSouth Electric Co-op Board of Directors has decided to provide Kilowatt Relief in lieu of Capital Credits in 2020. Each year, the Board of Directors evaluates the cooperative’s financial standing and determines what amount of profits are returned to members in the form of Capital Credits. Traditionally, Capital Credits are credited to a member-consumer’s account in June. The decision to replace Capital Credits with Kilowatt Relief was made carefully and strategically with the best interest of consumers in mind. This decision by the board of directors provides members with immediate financial assistance during the COVID-19 crisis. This will ultimately result in more money credited to member accounts than through Capital Credits.
An average bill of 1,500 kilo-watt-hours (kWh) will have a $45 credit for the months of May and June. The total amount in Kilowatt Relief is projected to be approximately $4 million dollars. Members will see the credit on their billing statements in the Wholesale Power Cost Adjustment (WPCA) line item.
The credit is calculated: $.03 x kWh consumed = Kilowatt Relief
MidSouth is guided by seven principles that reinforce our responsibility to members. During this time, we are especially focused on our concern for community. Members experiencing financial difficulties as a result of the pandemic should contact a member service representative at (936)825-5100 to learn about financial assistance opportunities through local community-based programs. MidSouth is—and will continue to be—committed to community.
MidSouth Electric Co-op serves over 25,000 consumer-members in and around Montgomery, Grimes, Walker, Waller, Brazos, Madison and Waller counties. The co-op is focused on providing quality service at a reasonable price, bringing vital services to increase both the quality of life and economic health in the MidSouth service area.