These credits will be reflected on the statement which members will receive in May and June.
For residential members, this monthly charge is $45 on their bill and nonresidential is $60. The cooperative estimates the approximate cost of waiving one month of service availability charge to all members is around $500,000. The cooperative leadership notes the organization is able to do this because of the success of its subsidiary, United Services.
“United Electric is committed to helping our membership during these unchartered times due to the COVID-19 pandemic. With the past success of our subsidiary United Services, the board of directors and management team at United have prepared a contingency plan to help our members during financial hardships such as this,” said CEO Jim Bagley. “We will continue to looks for ways to help our members and be a support system in the local communities we serve.”
Since March of 2017, United has returned over $4 million to their members.
In addition to waiving the service availability charge, United Electric will be extending its pledge to not disconnect or add late payment fees to accounts until the end of June.