JACKSON COUNTY, Ga. — More than 200,000 Georgians will get part of a $15 million margin refund this month after their power company sent out checks.
According to Jackson Electric Membership Corporation, 235,000 current and former members of the company will get a portion of their money back as a margin refund check in December.
Since its founding in 1938, Jackson EMC said the December refunds will put the company’s returns to customers at a total of $204 million.
[DOWNLOAD: Free WSB-TV News app for alerts as news breaks]
“Jackson EMC operates at cost, which means our primary focus is member service, not profits. Crossing the $200 million mark in returned margin refunds this year shows Jackson EMC’s long history of keeping the cooperative financially strong to deliver safe, reliable and affordable electricity for its members,” Rodney Chandler, chairman of the Jackson EMC Board of Directors, said.
Margin refunds are set for a combination of years, according to Jackson EMC, so long-term and newer members of the electric co-op are able to benefit. The funds are left over revenues after the company’s expenses are fully paid, and then returned to the customers.
- Train crashes into tractor-trailer carrying Whataburger supplies in Clayton County, crew members say
- Atlanta VA Medical Center closes multiple units for repair after ‘pipe break’ in critical areas
- Raccoon tests positive for rabies, Forsyth County officials confirm
For the December checks, refunds will go to those who got their electric service from Jackson EMC in 1996, 1997, 1998, and/or 2022. Each refund check will have an amount based on what the member paid for service during those years.
“Please note that your margin refund check in December may vary from your calculated capital credit amount for a specific year. The board of directors determines when to retire capital credits,” officials told Channel 2 Action News.
For more information about refunds, customers can contact Jackson EMC at 1-888-228-9166.
[SIGN UP: WSB-TV Daily Headlines Newsletter]
IN OTHER NEWS:
©2023 Cox Media Group