News Releases

Walton EMC Presents Capital Credit Refund Check to Oconee BOE

FOR IMMEDIATE RELEASE
January 17, 2007

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

WATKINSVILLE, Ga. – Walton Electric Membership Corporation (EMC) presented a $10,183.01 check to the Oconee County Board of Education at their January 16 meeting.

Walton EMC’s Keith Taylor presents the a capital credit refund check to David Weeks, assistant board chairman of the Oconee County Board of Education.

Keith Taylor, commercial and industrial accounts executive, presented the check, the Board’s 2006 capital credit refund from Walton EMC.

As a cooperative, Walton EMC is owned by those who use its services—the customer-owners. “This refund represents your ownership in the co-op,” said Taylor.

The money will be allocated to Oconee County school principals to use for instruction, Superintendent Tom Dohrmann said.

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.

Walton EMC returned $3 million in capital credits this year. The Oconee County Board of Education has received over $70,000 in capital credits over the last 10 years.

The Board of Education was not the only customer-owner to receive a credit—a total of 89,499 refunds were dispersed—more than 60 percent of current customer-owners.

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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