FORSYTH COUNTY, Ga. — An electric cooperative in the northern part of metro Atlanta announced it was giving $6 million back to current and former customers.
The refund from Sawnee Electric Membership Corporation said the refund will be going to 137,500 current and former members, including individuals and businesses that got got their electricity from the company in 2008 and 2009.
Sawnee EMC, a nonprofit electric cooperative, said the board regularly considers retirement of patronage capital to its members.
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The cooperative bylaws define patronage capital as “an allocation of the revenue in excess of operating costs and expenses,” as required by state law.
The members who received electric service in 2008 and 2009 are able to get an average refund of $43, according to the EMC.
The funds will appear as a credit on their March electric bills for current members, while former members will receive a check in the mail around the start of April.
“It is important for us to demonstrate through this, and many other actions, that the electric cooperative business model still works for our members and our organization,” Michael Goodroe, Sawnee EMC’s President and CEO, said in a statement.
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