Grand Valley Power refunds $1.5 million

Grand Valley Power has retired more than $1.5 million in capital credits in the largest such refund to members in the nearly 80-year history of the electric cooperative.

Based in Grand Junction, Grand Valley Power serves a total of more than 17,000 meters in Mesa County as well as in Delta and Garfield counties.

The electric cooperative provides its services at cost, but sets billing rates to maintain enough of a margin to satisfy lender requirements.

These margins are allocated to members as capital credits in proportion to their contributions to revenue during the year.

Capital credits are eventually retired by paying members. Grand Valley Power mailed the latest checks Dec. 18 to members of record based on their electric usage. Grand Valley Power maintains a 20-year cycle in capital credit requirements.

For more information about Grand Valley Power, visit the Web site at www.gvp.org.