FOR IMMEDIATE RELEASE

January 2, 2024

Contact: Katie Luckett
443-786-1053
katiel@choptankelectric.coop

Choptank Electric Cooperative Distributes $2.5 Million in Capital Credits to Members

Denton, Md – The Choptank Electric Cooperative Board of Directors voted to return a total of $2.5 million to its members in capital credits. The distribution will be applied as a credit to active members’ electric bills this month.

“As a not-for-profit entity, we are able to return excess revenue back to our member-owners,” said Doug Scott, Chairman of the Choptank Electric Board. “This is one of the many ways a Cooperative works for its members.”

The amount of capital credits earned is based upon the amount of electricity the member purchased in 1994 and 2022. Because electric Co-ops operate at-cost, any excess revenues, called margins, are returned to members in the form of capital credits.

“We are applying these capital credits directly to our members’ electric bill in January, saving them a trip to the bank and saving the Co-op on printing and postage costs to mail a check,” said Mike Malandro, President and CEO of Choptank Electric.

To learn more about Choptank Electric’s capital credits, visit choptankelectric.coop/capital-credits.

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About Choptank Electric Cooperative: Choptank Electric, a Touchstone Energy Cooperative, is a not-for-profit, member-owned, electric distribution co-op located on Maryland's Eastern Shore serving over 56,000 members. Choptank Electric Cooperative exists to provide reliable and cost-effective electricity that improves the quality of life for our member-owners. For more information about Choptank Electric Cooperative, visit our website at choptankelectric.coop or call our Member Service Center at 1.877.892.0001.