Capital Credits/Estate Refunds
At its 2022 meeting, PGEC's Board of Directors voted to return more than $390,000 in capital credits to PGEC members who had service in 2021. The Cooperative also retired $299,000 in accumulated capital credits from its investment in its wholesale electric supplier, Old Dominion Electric Cooperative.
Understanding Capital Credits
Capital Credits are margins credited to members (patrons) of the Cooperative based on their relative purchases from the Cooperative. Your Cooperative, as a customer (member) owned business, does not issue stock as do investor-owned utilities, so Capital Credits are used by the Cooperative as its primary equity base, then paid back to the Membership as financial conditions permit. Capital Credits reflect each Member's ownership in the Cooperative.
When financial conditions allow, a Capital Credit General Retirement amount will be recommended to the Board of Directors for approval annually.
Inactive members will be mailed a check.
Active members will receive a bill credit.
Note: If you have moved outside of PGEC’s service area, it is extremely important that you continue to provide us with an updated address. This will ensure that you will continue to receive any General Retirement checks that are owed to you.
If your name is on this list, please complete the Capital Credit Refund Inquiry Form. This will allow us to update your contact information and reissue any unclaimed capital credits.
Capital Credits of a deceased member can be Estate Retired at a discount by an Estate Representative.
The Estate Representative must complete the following questionnaire to determine the appropriate form and required documents needed to continue the Estate Retirement process.
Click the link to be directed to the Capital Credit Questionnaire.
Once you have determined the appropriate form, please complete and submit it with the required documents to:
Note: There is a 120-day waiting period after the date of death before PGEC can issue an Estate Retirement check.
Prince George Electric Cooperative
P.O. Box 168
Waverly, VA 23890
Attn: Capital Credit