Mountrail-Williams Electric Cooperative announced it will be returning more that $12 million to its members.
MWEC said the return of Capital Credits is for years 2013 and prior, totaling $12,347,178.
Those dollars will go to Mountrail-Williams Electric Cooperative’s 7,000 members, with checks being mailed beginning June.
MWEC called these “extraordinary times” with the ongoing COVID-19 pandemic and low commodity prices having adverse effects on Williston’s economy.
“We at MWEC are committed to doing everything we can for our members,” The release read. “While no one can predict when this crisis will ultimately be resolved, our members can put their capital to good use.”
“We are operating from a position of strength during this difficult time. We have a strong balance sheet; we generate cash flow and we are an essential business to our members providing a mission critical product, electricity,” Dale Haugen, General Manager of MWEC said in a release. “The strength and durability we have demonstrated during the past significant economic downturns over our long history give us confidence that we will emerge by investing or returning capital back to our members!”