LCEC is a proud member of Touchstone Energy Cooperative
Due to a system upgrade, Smarthub and Pay Now will not be available on Saturday, December 9, from 8:00 a.m. to 3:00 p.m. EST. We apologize for this temporary inconvenience.
Ownership equity in LCEC is not equivalent to cash or liquid assets. Equity represents members’ investment in the LCEC electrical system in the form of substations, poles, lines, transformers and other facilities. The amount of equity allocated (credited) annually to each member’s equity ownership account is calculated based on the amount of electricity used by the member in the period. Equity equates to financial strength for LCEC members. It allows for improvements in the delivery of power and service through capital projects without incurring costly loans. LCEC is proud of the financial strength that has allowed us to return equity to our members. It is one of the benefits of belonging to a financially stable electric cooperative.
A retirement is the payout of equity to active and former members 20 to 30 years after it is allocated. Decisions about equity retirements are made by the Board of Trustees annually and are based on the LCEC financial condition. When approved, retirements are traditionally paid in the second half of the year in the form of a check or bill credit. Bill credits will apply to current members receiving a retirement of less than $250. All other current and former members who qualify for a retirement will receive a check.
In March 2023 the LCEC Board of Trustees approved an equity retirement for current and former members who received service in 1997. This retirement was paid out in the form of a bill credit or check on or before July 7.
LCEC is proud to have returned more than $322 million in equity to members over the years.
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