PEC to distribute up to $4 million in capital credits, extends fee waiver

Press Release

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September 24, 2009

MEDIA CONTACT: Anne Harvey, (830) 868-4933; Austin line, (512) 219-2602

Johnson City, Tx – In a meeting streamed live on the Internet, Pedernales Electric’s Board of Directors voted on Monday to distribute up to $4 million in capital credits to its members. The Board also decided to extend the waiver of the $100 reconnection fee through the end of 2009.

Capital credits accumulate when revenues exceed expenditures, and those credits are allocated to members based on their electric use. The capital credit amount is based on an allocation factor, and on Monday the Board passed a resolution setting the allocation factor at 0.02251975. Members can determine their individual allocation of capital credits by taking their total annual kilowatt-hour billings in 2008 and multiplying it by the allocation factor. Current plans call for members to be notified of their 2008 allocation and capital credit balance in writing in October, and members eligible for this capital credit distribution will receive a credit on their November bill.