(Estherville)– The Board of Directors of Iowa Lakes Electric Cooperative has announced one of the largest margin rebates to be returned to its customer/owners in recent years.
I-L-E-C General Manager and Vice President Terry Bruns says they’ll be returning 350-thousand dollars to customers/owners. He credits extreme weather conditions for an increase in margins in the past year.
Bruns says the co-op will still have a sufficient amount of cash on hand after the rebates to maintain its debt service. After the rebates, Bruns says I-L-E-C will still have a bottom line of 1.7 million dollars in margins…enough to satisfy bankers.
Bruns says the financial outlook for I-L-E-C looks strong over the next couple of years atleast. He says several new large accounts will be coming on line this year, including a new ethanol plant in Lakota and a large chicken egg-laying facility near Rembrandt.
