Salem Electric is excited to announce that we paid over $2.1 million in capital credits in early October this year! If you were a Salem Electric member in 2007 and received a capital credit allocation that year, you received a check or bill credit on your October bill.
Capital credits are just one of the features that make Salem Electric different from neighboring utilities. Unlike investor-owned utilities, we do not earn a profit. We set rates to cover costs, maintain financial integrity, and provide stability. When revenues exceed the cost of doing business, the difference is allocated to members as capital credits. The amount a member receives is based on what they paid for electric service during that year.