Prepayments and Discounts
Prepayments and Discounts
The Pre Power Cooperative System funds asset purchases by Members paying in advance for electricity.
We believe that those folks willing to put their money where their mouth is should get a fair reward for that action. For this reason, we offer Discounts on all prepayments including monthly payments. If you are late in your payments then the Discount is negative. We recommend that all members keep a positive balance in your prepayments account as your prepayments earn more than bank interest and there is no tax or reporting requirements on the discount.
- When our members make a prepayment, they are paying right now for the future delivery of renewable energy (kilowatt hours, or kWhs).
- Prepayments pay for the purchase and installation costs of putting renewable energy generation equipment on a Customer members house or business.
- When you are invited to become a member you pay a prepayment and while you have a positive prepayment balance you remain a member.
- Our customer members Prepay at least one month in advance for the kWhs they use. Tariffs paid to customers for kWhs fed into the grid are owed to the Co-op.
- Customer members get a members discount of 30% off the grid price, for the energy produced by coop owned generation equipment.
- Customer members need to keep an account with an electricity retailer to keep receiving electricity from the grid when solar energy is not available (for example, at night).
- As Customer Members pay their bills due to the Co-op, part of the bill payment will go to reimburse the Prepayment Members for the kWhs they have paid for, and the discount tokens due to them.
- If the Co-op has supplied the energy to the prepayment member the prepayment discount is applied as a further discount on their bill, on top of the 30% members discount – a double discount.
- If the prepayment member does not have Co-op owned energy equipment on their house or business then they are unable to receive any discounts on their energy bills – because they don’t receive an energy bill from us.
- Each month if the Co-op cannot supply our kWhs and discounts to the Prepayment member, the Co-op will reimburse the Prepayments Member for the kWhs they have paid for but not been able to consume, at the cost of production. They will also be reimbursed for the discounts they are unable to use. If the Co-op cannot reimburse it will accumulate the reimbursements and pay as soon as money is available. Discounts on reimbursements should be reported to the tax office as a Capital Gain.
- A prepayment holder can request reimbursement at any time and the Co-op will reimburse if funds are available.
Send a request for more information to firstname.lastname@example.org
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When you join Pre Power One you become a member of a local co-operative that is owned and operated by people that live local like you.
Before you join, your options for buying electricity from Pre Power will be explained and a membership will be created to match your needs.
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