Posted on: Tuesday, May 18, 2004

Kaua'i utility co-op sending annual refunds

Advertiser Staff

LIHU'E, Kaua'i — Kaua'i power customers will be getting refund checks starting this week, as a result of their electric company having become a co-op.

The Kaua'i Island Utility Co-op annually refunds to customers any money not needed to run the company and build up a capital reserve. The money is returned proportionally based on the amount of power used and money paid in electric bills.

"This is the way co-ops work. If there's money left at the end of the year after all our bills are paid, each member is given a share of these margins allocated to their patronage capital accounts," said co-op president Alton Miyamoto.

Miyamoto said the average consumer, who uses about 500 kilowatt-hours monthly, can expect to receive about $25. For those whose refunds are less than $5, the amount will be credited to the member's account for later distribution.