FOX 4 WFTX - Cape Coral, Fort Myers, Naples News, WeatherLCEC equity payments on the way?
Member Center:
4 In Your Corner has been covering your concerns about Lee County Electric Co-Op and equity payments for years. But now, if you're an LCEC customer, you're finally going to see some extra cash real soon.
"I think it's a good deal," said one customer. "It's nice to get a little check every now and then."
In 2005, LCEC stopped paying out those general equity distribution checks.
Fox 4 aired the following interview with LCEC spokesperson Karen Ryan in July of 2009.
MARISA: Why hasn't LCEC sent out distribution checks since 2005?
KAREN RYAN, LCEC SPOKESPERSON: Basically the returns are based on the financial status of the organization. If margins are in a place where we can return equity to customers, we do.
Turns out in March, the electric co-op's Board of Directors voted to pay equity to all its customers. It's the first general payout in years.
"Merry Christmas to me," said LCEC customer Robert Cortese.
Spokesperson Karen Ryan wouldn't talk on camera but I asked her over the phone if Fox 4's stories had anything to do with the decision.
Ryan said: "I don't recall any stories. No, the board would not take that into consideration at all because it's based on financials."
But now, equity is on its way and customers are rejoicing.
Here's what can you expect:
LCEC says payments depend on how much electricity you use and you'll get your payment later this year.
They say if your payment is 25-dollars or less, it'll be credited to your account.
But if it's more, you'll get a check.
"If they're giving back money, that's great," said a customer.
MARISA MENDELSON
MMENDELSON@FOX4NOW.COM
