Louisiana Utility Honors Patronage Capital Credits
Shreveport-based Southwestern Electric Power Company (SWEPCO), which completed the purchase of Valley Electric Membership Corporation (Valley) in October 2010, recently mailed out a second round of refund payments to members of the former coop. Valley’s board of directors pledged to honor Valley’s estimated $25 million in patronage capital credits owed to its members. These credits are accumulated by coop members as their share of the coop’s earnings. Click here for the full story.