In late March, the Adams Electric board of directors voted to return $1 million to its membership in May as a special member credit amid the COVID-19 health crisis. This is in addition to $1.9 million in Ownership Rewards returned to the membership in March.
The special refund will be returned to members as a one-time bill credit on their May bills to help offset any financial hardships that have arisen from the COVID-19 pandemic. The amount each membership receives is based on their kWh use for the last 12 months.
Ownership Rewards are a benefit of being a current or former member-owner of an electric cooperative. For more than 50 years, members have received an annual return on their investment in Adams Electric based upon their share of the cooperative's net profits bringing the total returned to $46 million over the years. Members who move off co-op lines continue to receive Ownership Rewards until their investment is completely returned.
In addition to financial returns, the cooperative is waiving new late payment fees and penalties and not disconnecting power during the pandemic. The co-op has extended its hours available by phone to Monday through Friday, 6:30 a.m.-7 p.m. to help members with questions or concerns. All district offices are currently closed to the public and will remain closed until the health crisis restrictions are lifted.
Our line personnel and dispatch center are still operational for power issues and outages continue to be responded to 24/7 as the need arises. A special thank you to our linemen who are celebrating Lineworker Appreciation Day this month, on April 13.
For more information about member assistance, or how the co-op is responding to COVID-19, please visit adamsec.coop or call 1-800-726-2324. To report a power problem, visit adamsec.smarthub.coop or call 1-800-726-2324.
Adams Electric Cooperative is a not-for-profit, member-owned electric distribution utility serving 32,500 member-accounts in Adams, Cumberland, Franklin, Perry and York counties. Adams Electric is an equal opportunity provider and employer.