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For immediate release
November 17, 2005 at 3:26pm
For more information, contact
Patti Bogan, 762-4736, cell 242-0704 Carol Heyman, 762-4707, cell 240-7754

Holiday cheer!! Chugach Electric board approves $3.8 million retail capital credits retirement – mid-December payout

Just in time for the holidays and an extra boost to the local economy, thousands of past and long-term Chugach Electric Association members will be receiving a share of a $3.8 million retail capital credits retirement approved by the Chugach Board at its November 16 meeting.

Chugach is currently determining the amount of each capital credit payment. Exact information will not be known until mid-December. At that time, Chugach will mail checks or give credit on accounts to former and current members of record for 1986 and 1987. Each member�s share of the capital credits is based on the amount of energy purchased and the margins Chugach achieved in those years (margins are more commonly known as profits by other businesses.)

Capital credits distributions are one of the benefits of being a member of a cooperative. As a cooperative, Chugach uses margins for capital investments such as infrastructure, equipment and upgrades - those items that provide delivery of safe, reliable, low cost power. Chugach provides a return (capital credits) to members after 18-20 years. As a cooperative member your capital credits are in direct proportion to energy purchased. Chugach members leaving our system should provide a forwarding address and keep Chugach updated on future moves until all of their allocated capital credits have been retired.

Chugach is the largest electric utility in Alaska, providing power for Alaskans throughout the Railbelt through retail, wholesale and economy energy sales.