LUBBOCK and AMARILLO, Texas– South Plains Electric will return $4 million to members who used the cooperative’s service in 2018, 2005, 1987 and 1981 and will be mailed by the annual meeting set for Sept. 10.
Xcel Energy will also do something quite similar and will credit customers’ electric bills for September that reflects a one-time $16 million fuel cost refund that was announced in June, according to an Xcel news release.
As for South Plains Electric, they will mail checks to more than 35,500 members receiving $10 or more, according to a South Plains Electric news release. If the credit is less than $10, then it will be credited on the members’ September bill.
For customers who have Xcel, those refunds could vary and could also be prorated over a two-month period, depending on billing cycles, according to the release. Customers who use 1,000 kilowatt-hours a month would receive a total credit of $14.53 or higher.
The release states that customers in January received a refund of approximately $11.76 on a typical residential bill.
Additionally, Xcel “reduced the fuel cost factor” on customer bills July 1, which lowered a typical residential bill by approximately five percent, according to the release.
For South Plains Electric, the refund has returned more than $45.4 million to local members in their local communities for over the past 80 years and stated that this is nothing new.
“The difference is, at the end of the year, that money is credited to each member’s account according to the amount of electricity purchased,” states the release.
For anyone who has any questions for South Plains Electric, they can contact Penny Nelson at pnelson@spec.coop, (806) 775-7831 or Jessalynn Alejandro at jalejandro@spec.coop or (806) 775-7828.
