Tri-State returning $10.37 million in patronage capital to members for 2023
Return of capital demonstrates the benefits of the cooperative business model and Tri-State membership.
Tri-State has returned approximately $160 million in patronage capital to members in the past eight years.
(December 7, 2023 – Westminster, Colo.) The board of directors of not-for-profit wholesale power supply cooperative Tri-State Generation and Transmission Association has approved the return of $10.37 million in patronage capital refunds to its members for 2023. The board approved the return at its December 2023 meeting.
Patronage capital represents each member’s equity in Tri-State. It is the accumulation over the years of the net margins earned by Tri-State and then allocated to its members. Including 2023, Tri-State has returned approximately $160 million to its members over just the past eight years. Allocated patronage capital is returned to cooperative members over time.
“The allocation and return of capital to our members is a hallmark of Tri-State’s cooperative business model, and it helps strengthening members’ balance sheets and cash flow,” said Tim Rabon, chair of the Tri-State board of directors and a trustee for the Otero County Electric Cooperative in Cloudcroft, N.M.
Tri-State has allocated patronage capital to its members from its net margins each year and has returned patronage for 41 straight years.
“Reliability and affordability remain our priority as we advance our clean energy transition,” said Rabon. “The return of capital to our members supports affordability and helps mitigate the increasing costs of doing business.”
Tri-State is a power supply cooperative of 45 members, operating on a not-for-profit basis, including 42 utility electric distribution cooperative and public power district members in four states. Together with our member/owners, we deliver reliable, affordable and responsible power to more than a million electricity consumers across nearly 200,000 square miles of the West. For more information about Tri-State, visit www.tristate.coop.
Certain information contained in this press statement are forward-looking statements including statements concerning Tri-State’s plans, future events, and other information that is not historical information. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including those described from time to time in Tri-State’s filings with the Securities and Exchange Commission. Tri-State’s expectations and beliefs are expressed in good faith, and Tri-State believes there is a reasonable basis for them. However, Tri-State cannot assure you that management’s expectations and beliefs will be achieved. There are a number of risks, uncertainties and other important factors that could cause actual results to differ materially from the forward-looking statements contained herein.