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News

Members Saved $274,515 on Prescriptions with the Co-op Connections Card!

Cooperative members use their Co-op Connections cards in July to save $7,448 for an average of 28 percent discount on prescriptions. Even members with health insurance are finding savings when they compare their insurance coverage co-pays with the discounted price. Your pharmacy will be glad to give you the cost under each program. And remember, this valuable benefit is absolutely free to Cooperative members!

$3.5 Million in Capital Credits Being Returned to Members

A capital credit refund of $3.5 million was approved and will be proportionately returned to members using the Cooperative’s service based on the following: 1977 operating margins (28.91%); 2009 operating margins (8.68%); 1996-2002 Golden Spread G&T Capital Credits (100%); 2003 Golden Spread G&T Capital Credits (11.0425%). The Cooperative has returned a grand total of more than $24.6 million to local members in our local communities—not to distant stockholders!

2009 Annual Report

Weather has always been the defining element in the operation of South Plains Electric Cooperative (SPEC), and the extremes of weather in 2009 directly affected the financial outcome for the year. Rainfall for the year was 31 percent below average, while summer temperatures were over 10 percent hotter and winter temperatures were 5 percent colder. There were 14 days where the temperature in Lubbock reached 100 degrees or hotter with the hottest day being July 9 when the temperature reached 107 degrees.