News Releases

Walton EMC Capital Credit Refunds Exceed $28 Million in 19 Years

FOR IMMEDIATE RELEASE
December 12, 2006

Contact Heather Hodges, 770/266-2408 or Greg Brooks, 770/266-2307

MONROE, Ga. – Many Walton Electric Membership Corporation (EMC) customer-owners will notice a credit on their December bill—their part of $3 million in capital credits Walton EMC is returning this year.

This year’s capital credit refund brings the 19-year total to over $28 million.

Consumers who were Walton EMC customer-owners in 1983 and/or 2004 will receive a credit—a total of 89,499 refunds. More than 60 percent of current customer-owners will receive a refund.

Capital credits are the customer-owners’ portion of money left over (margins) once all expenses are paid. Walton EMC holds margins as a reserve to retire debt, build equity and to prepare for emergencies. Once sufficient reserves are accrued, additional money is returned to the customer-owners as capital credits.

The amount each customer-owner gets is determined by the amount of electricity he/she bought during 1983 and 2004.

The credit will appear as a line item on December bills as “capital credit refund.” Checks over $15 written to those no longer on Walton EMC lines will be sent via mail.

Walton EMC is a customer-owned power company that serves 115,000 accounts over its ten-county service area between Atlanta and Athens.

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