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Capital Credits
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Your CBEC Electric Bill


As a member consumer of an electric cooperative, you and your fellow member consumers own the electric company that serves you. One benefit of ownership is capital credits. Since the Cooperative operates on a not-for-profit basis, all of the margins are returned to our member-consumers in the form of capital credits, an investment in each owner's name. These capital credits form the bulk of the cooperative's equity and is a measure of its financial strength. The funds are used as working capital to build the facilities needed to serve you and future member- consumers.

Unlike investor-owned utilities who provide electric service for a profit, Craig-Botetourt Electric Cooperative is a member-owned organization that returns profits, called "margins" in the cooperative business, back to its members. When you sign up to receive electric service from CBEC, you become a member of our electric utility, a part-owner who invests equitably in the co-op. CBEC is a not-for-profit organization, so at the end of each year when our financial books are closed, any margins are allocated to be returned to you, the members. The amount allocated to each member is based on how much electricity they used in that year, and is paid back to the member later in the form of a capital credit retirement.
Capital credits are not refunded, or "retired," immediately. Because the electric utility business requires large amounts of capital to operate, electric cooperatives reinvest capital credits into their business operations. We reinvest these capital credits toward improving and expanding our electric system and meeting our other capital needs. Capital credits also reduce our need to borrow money, which keeps monthly rates for members down and helps us provide you, the member, with more reliable electric service. During this time, CBEC carefully keeps track of the amount owed to each individual member to ensure all members can receive the correct amount in their capital credit refund when the time comes to retire them.

Each year, the board of directors evaluates the financial condition of the cooperative to determine when it is financially feasible and prudent to officially retire capital credits for a given calendar year. We may not retire capital credits every year. When the board decides to retire capital credits, we calculate the exact amount we need to pay each member. At this time, you will receive a check for your portion of the year's capital credit refund.

If you ever move out of our service territory, it is very important that you provide CBEC with a forwarding or current address to ensure you receive your capital credit money. Former members may be eligible to receive capital credit refunds for years after moving out of CBEC's service  territory depending on the number of years spent as a member and the percentage of electricity used for those years. To avoid missing out on this free refund, it is critical to keep Craig-Botetourt Electric aware of any change of address.

When capital credits are available, check back here for the most updated Capital Credits Retirement List.

CAPITAL CREDITS: What you need to know.

To view frequently asked questions regarding Capital Credits, click the button below.
capital credits faq

Do you have a capital credits check waiting for you?

To see our latest list of capital credit retirements, click the button below.
capital credit Retirement list

Pay My bill

Pay by Check

You can mail us a check for the amount of your bill. Please send it to:
Post Office Box 265
New Castle, Va. 24127

Pay with Automatic Monthly Payments

You may set-up automatic monthly payments using your credit card or by e-check by contacting our office at (844) 951-4436.

Pay by Phone

You may also make payments over the phone by using your credit card or by e-check by contacting our office at (844) 951-4436.

Pay Online

You can pay your bill on-line by credit card or e-check using the following link:

Pay at Participating Retail Outlets

These vendors  (in addition to the New Castle branch of Farmers & Merchants bank) accept CBEC bill payment.  Members only need to have their payment stub with them, which is scanned at the register.


Your Bill

Your Bill

Recently we redesigned our rates and our bill to make it easier to read and understand. In every industry, terms are used that the customer may or may not understand. The electric utility industry is not any different. Below are some definitions of some key terms you will see on your bill from the Cooperative.

Consumer Delivery Charge

Recovers the cost of the minimum amount of equipment that the Cooperative must install to provide a member with access to the electric grid. This includes the meter, service drop, transformer and a portion of the poles and wire connecting to the nearest distribution substation.

Energy Charge

Is a charge per kilowatt-hour of the electric energy usage. This charge is the same amount regardless of the time of day or season of the year that the electricity is used. In some types of rates called Time of Use rates, the energy charge can be different based on the time the electricity is used. This difference in prices reflects the different costs of production of the electricity. The cost of production fluctuates based on the type of generation used and the level of the usage. During time of high usage the cost of production is higher because of the additional generating resources necessary to meet the level of usage.

Demand Charge

Recovers the cost of the physical equipment needed to provide service to customers. There are two types of demand (coincident peak demand and non-coincident peak demand) and thus two types of demand charges. Coincident peak demand measures the customer’s use of the capacity that is coincident with the power generator’s peak demand and is usually used to bill purchase power demand by the power generator. Non-coincident demand is the distribution capacity needed to meet the customer’s maximum use regardless of when it occursand is usually used to bill distribution demand charges.

Purchased Power Demand

Recovers the cost of generation and transmission facilities and is usually billed as a charge per coincident peak kW-month for customers with demand meters and billed as a charge per kWh for customers with watt-hour meters.

Distribution Demand

Recovers the distribution costs above the minimum system needed to provide grid access, which is recovered through the customer charge. The distribution demand charge is usally billed as a charge per non-coincident peak kW-month for customers with demand meters and billed as a charge per kWh for customers with watt-hour meters.


Under ENERGY CHOICE, CBEC must (unless you instruct us otherwise) provide your name, address, account number, and electricity usage information to qualified licensed suppliers.  If you do not want your information released, you must “opt-out” by checking the box on your remittance stub or by providing other written notice to CBEC.  Should you wish to reverse a prior decision to opt-out, please notify CBEC with written notice.

Competitive Service Provider (“CSP”)

An entity licensed by the Virginia State Corporation Commission (SCC) to sell competitive energy services.  Referred to as CSPs or Electricity Suppliers.

Competitive Transition Charge (“CTC”)

This charge may apply to customers who choose a CSP.  Virginia Law permits this charge, which is set by the SCC, to give utility companies the opportunity to recover past investments they made when expecting to serve all customers.

Price to Compare

The regulated price per kWh plus or minus the current month’s fuel adjustment factor for electric supply service less any competitive transition charge (CTC).  This price will vary based upon your applicable CBEC unbundled rate.  A CSP must offer a lower price in order for you to save money on the energy supply portion of your bill.  Once you choose a CSP, the price to compare will no longer appear on your electric bill.


kWh is a measure of electrical energy (unit of energy) that represents a 1,000 watt unit of energy for one hour.

Rate Schedule

Our rate schedules are available on our web site or upon request at the Cooperative office.

Demand Charge/kW

The largest electrical use of highest demand for electricity averaged in any 15 minute period per month.  It is measured in kilowatts and charges are calculated based on the cost per kW. This charge does not apply to most residential rates.