What is an instant owner rebate?
It is a return of a portion of the excess funds Fall River Electric collected in 2021 from our members.
Who is getting the rebate?
Owner-members of the Cooperative that paid for power in 2021. Because Fall River Electric is a cooperative, every customer is an owner-member.
How is the Cooperative financially able to provide this rebate?
The Fall River board, management & staff have worked diligently during the past decade to improve the financial condition of the Cooperative and have increased the equity up to 48% presently. The excellent financial condition of the Co-op allows for this revenue to be returned to its members.
When and how do I receive this rebate?
Members who had an active account in 2021 will receive a credit on their February billing statement reflecting their rebate amount. If a member has left Fall River Electric’s service territory and do not currently have an active account, a check for their rebate will be mailed to them at the end of February unless they have a balance still owed. If so, the rebate will be applied to that balance.
How is my rebate amount calculated?
It is based on a portion of the amount you paid for power in 2021.
Why is the rebate being paid instead of lowering my rate?
The great news is that Fall River Electric has already lowered rates to the lowest level they have been in 17 years PLUS you are receiving a rebate.
How do I know if I got a rebate?
Check your February billing statement carefully to see your rebate amount credited to your account balance.
Where does the money come from to pay this rebate?
Money collected annually from members that exceeds the cost of operating the Cooperative is placed in each owner-member’s Patronage Capital account and paid out in about 18 years. Because the Cooperative’s financial condition is so strong, the Co-op’s board determined to divert some of these Patronage Capital funds into this rebate. By doing so, members receive these funds earlier than under normal conditions.