The Kauai Island Utility Cooperative will give back $2.1 million in refunds to its ratepayers during the June billing period, the Lihue-based utility said Wednesday. The 2014 patronage capital refunds, which comes from money that KIUC has left over after paying all of its expenses, averages about $24 per member.
Members with inactive accounts with a refund amount of $10 or more will receive a check. If the amount is less than $10, it will remain in the member’s patronage account until the cumulative amount reaches $10 or more, after which a check will be sent.
Since becoming a cooperative in 2002, KIUC has built $93 million in equity and has given back $32.6 million to its members, including $24.8 million in patronage capital.