Holy Cross distributes nearly $1.8 million | VailDaily.com

Holy Cross distributes nearly $1.8 million

Daily staff report
Vail, CO Colorado

EAGLE COUNTY, Colorado – In mid-May, approximately 29,900 Holy Cross Energy consumers will be mailed their 2010 Member Equity Allocation Notices and their share of nearly $1.8 million in 2010 member equity distributions.

Over 10,800 consumers who are entitled to amounts less than $10.00 will see their credit applied to their electric account instead of a check.

As a not-for-profit electric utility, Holy Cross Energy allocates any annual revenues that exceed expenses back to each member based upon their purchases of electricity in that year. Member Equity Allocation Notices are provided to each eligible member after the prior year’s books are closed.

Holy Cross Energy’s Board of Directors remains committed to the return of member provided capital. With this equity distribution, over $37 million has been returned to members since May of 2005. Recent member equity distributions include about $2.75 million in May of 2010 and about $2.8 million in December of 2010.

Members who received service in 2010, who do not receive a Member Equity Allocation Notice by May 31 are asked to contact their nearest Holy Cross Energy office.