South Plains Electric Co-Op returns $4 million to partner member

South Plains Electric Co-Op returns $4 million to partner members

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LUBBOCK, Texas -

South Plains Electric Co-Op returned more than $4 million to its partner members at its annual meeting at the Civic Center.

It's the Capital Credits refund, approved by the Board of Directors. It's proportionally returned to more than 35,000 members, using the service in 2017, 2005, 1981 and 19-80.

"If we do ever have margins we return them back to the members. And it's based on how much electricity you use, how much money you give back and this year we were able to return $4.15 million dollars in capital credits," Lynn Simmons with SPEC, said.

Over the past 80 years, SPEC has returned more than $41.3 three million to its members.

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