LOST RIVER ELECTRIC COOPERATIVE, INC.
NOTICE FROM THE BOARD OF DIRECTORS
CHANGE OF BILL DUE DATE AND PATRONAGE RETURN
Commencing with the billing due date of JUNE 2025, all meters regardless of type will be read on the last day of the month. Therefore, your May billing cycle (except for irrigation) will be approximately ten days longer than usual. After that period, the billing cycle will return to an approximate 30-day cycle, depending on the month. Instead of the cycle beginning on the 20th of one month through the 20th of the next month, it will be read from the first to the last day of each month.
Following the installation of the Advanced Metering System, the capability to read both irrigation and all other rate classes at the same time became available. This will be more efficient as any manual readings (readings not received due to connectivity issues) can be read at the same time. This will be more cost effective for your Cooperative.
Further since the billing will be run later, the BILLING DUE DATE FOR ALL BILLS WILL NOW BE ON THE 25TH OF EACH MONTH unless the 25th falls on a Friday through Sunday or a holiday then it is due the day before. This will commence on JUNE 25, 2025. This will be more convenient to pay all bills at the same time of the month.
To ease the financial burden associated with the one-time extended billing cycle, the Board of Directors has voted to return the recently approved 2024 patronage capital payment of $300,000 prior to the June billing date of June 25th. When the Board pays out patronage to members from the previous year, this is called a (LIFO) last in first out patronage capital payment, rather than the norm of (FIFO) first in first out. If you have a current account, your patronage will be credited to your account to assist with your billing. The Board will take into consideration a regular patronage payment at the end of 2025.
NOTICE FROM THE BOARD OF DIRECTORS
CHANGE OF BILL DUE DATE AND PATRONAGE RETURN
Commencing with the billing due date of JUNE 2025, all meters regardless of type will be read on the last day of the month. Therefore, your May billing cycle (except for irrigation) will be approximately ten days longer than usual. After that period, the billing cycle will return to an approximate 30-day cycle, depending on the month. Instead of the cycle beginning on the 20th of one month through the 20th of the next month, it will be read from the first to the last day of each month.
Following the installation of the Advanced Metering System, the capability to read both irrigation and all other rate classes at the same time became available. This will be more efficient as any manual readings (readings not received due to connectivity issues) can be read at the same time. This will be more cost effective for your Cooperative.
Further since the billing will be run later, the BILLING DUE DATE FOR ALL BILLS WILL NOW BE ON THE 25TH OF EACH MONTH unless the 25th falls on a Friday through Sunday or a holiday then it is due the day before. This will commence on JUNE 25, 2025. This will be more convenient to pay all bills at the same time of the month.
To ease the financial burden associated with the one-time extended billing cycle, the Board of Directors has voted to return the recently approved 2024 patronage capital payment of $300,000 prior to the June billing date of June 25th. When the Board pays out patronage to members from the previous year, this is called a (LIFO) last in first out patronage capital payment, rather than the norm of (FIFO) first in first out. If you have a current account, your patronage will be credited to your account to assist with your billing. The Board will take into consideration a regular patronage payment at the end of 2025.