By Jim Stanford on June 11, 2013
Nearly 5,000 people and businesses have refunds coming to them from Lower Valley Energy, but the cooperative cannot send checks because of incorrect addresses.
Some customers have changed P.O. boxes, some are deceased, and some have moved away. But a quick glance at this list reveals a who’s who of Jackson Hole neighbors and friends.
The amounts range from just a few dollars to thousands, totaling more than $1 million. The old Dirty Jack’s Theatre, for instance, has $729 to claim. One of my former housemates — to whom I paid a share of the electric bill! — has $147 coming.
The refunds are for unclaimed patronage capital. Lower Valley explains:
Because Lower Valley Energy is a cooperative, owned by its members, it does not technically earn profits. Instead, any revenues over and above the cost of doing business are considered margins. These margins represent an interest-free loan of operating capital by the membership to the cooperative. This capital allows Lower Valley Energy to finance operations and to a certain [extent] construction, with the intent that this capital will be repaid to you in later years.
Other names that stood out from a brief scan include Big O Tires ($195) and an entity identified as “Western Wyo Pizza Hu” — likely Pizza Hut — owed $4,290. (Maybe someone informing them can claim a free rotation or pie next visit?)
Thanks to Teton Barber Shop for publicizing the list.
Posted under Economy