North Plains Electric Cooperative is a business corporation chartered by the State of Texas and operating under Texas laws. It is wholly owned and controlled by the people in Hansford, Hemphill, Hutchinson, Lipscomb, Ochiltree, Roberts, and Wheeler counties to whom it provides electric service. North Plains Electric Cooperative is owned by a specific group of people, (not the public) so it is a private enterprise. The people who use its services are members of the organization. These members own and control the Co-op.
As a cooperative, North Plains Electric operates on a non-profit basis. All revenues, over and above the cost of doing business for a year, are credited to members under a patronage refund plan called Capital Credits. Your cooperative’s electric rates are designed to bring in enough money to pay operating costs, meet loan payments, and provide a reserve for emergencies. At the end of each calendar year, we subtract our operating expenses from the collected revenue for the year; the balance is our “margin.” Every year the cooperative produces a margin, member’s individual shares of that margin are credited or allocated to individual capital credit accounts.
North Plains Electric Cooperative Board of Directors generally meet on the third Thursday of each month.
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