News Releases

Walton EMC Customer-Owners Receiving Another $3 Million Refund

FOR IMMEDIATE RELEASE
December 7, 2005

Contact Greg Brooks, 770/266-2307, or Katie Woodall, 770/266-2572

MONROE, Ga. – Beginning this month, most Walton Electric Membership Corporation customer-owners will be receiving their part of a $3 million refund. Over $25 million has been returned over the last 18 years.

Refunds are based on the amount of the customers' annual power bills and reflect their ownership in the company.

Most of the refunds will appear as a credit on customers' electric bills. This saves over $30,000 in check production and mailing costs.

At the end of each year, Walton EMC assigns margins to each customer-owner's electric account. These margins are the difference between what they paid and what it actually cost Walton EMC to provide electric service. The company holds these margins as a reserve to retire debt and prepare for emergencies, among other things.

When more reserves are accrued than needed for financial stability, the extra is returned.

This year's refund includes those who received electric service from Walton EMC during1982 and/or 2004. Older margins are retired on a continuing basis; margins up to 1982 have already been distributed.

“Walton EMC is a cooperative, a unique and successful business model,” said CEO Ronnie Lee.   “In most ways, we operate just like any other business. The main difference is that our customers-–the people who receive our service–are our owners. That's what drives our customer-first and service at cost philosophies.”

Walton EMC is a customer-owned electric company and serves 110,000 electric accounts in ten Northeast Georgia counties between Atlanta and Athens. Its subsidiary, Walton EMC Natural Gas, serves customers statewide. Learn more at waltonemc.com.

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