Power company returns $15 million to customers in various Georgia counties - WSB Atlanta
Power company returns $15 million to customers in various Georgia counties - WSB-TV Channel 2 - Atlanta
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 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.
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“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, then returned to the customers.
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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.
Jackson EMC provided an example of a refund allocation, provided below:
According to Jackson EMC, if your 2022 power bills totaled $1,500:
- Amount of Bills for 2022 (excluding sales tax) x Allocation Patronage = Your Dollar Allocation
- $1,500 x 7.399% = $110.99
If you’re curious about whether or not you might be getting a margin refund, there’s an information site online.
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