GreyStone Power is giving members a money-back credit of $4 million after record high temperatures lasting into early October brought in more revenue than projected to the electric co-op.
The one-time, money-back credit is based on members’ energy use and will be deducted from December bills, a news release stated.
GreyStone President and CEO Gary Miller said, “I am proud that we are able to give back to our members. As a not-for-profit electric cooperative, owned by the members we serve, there is no better feeling than to return such a large amount of money to our members while still providing safe, reliable and affordable electricity.”
GreyStone also gives a Wallet Watch Credit to members each month that totaled more than $20 million this year — meaning GreyStone has given back more than $36 million in 2019, the release stated.
The cooperative ranked second-lowest among electric co-ops in Georgia based on the residential use of 1,000 kilowatt-hours per month, according to the Public Service Commission’s 2019 winter residential rate survey.
The survey showed GreyStone at $95.69 for 1,000 kWh. Only Snapping Shoals EMC was lower by 1 cent, according to the survey.
“Not only are GreyStone Power members paying less than other Georgians do for electricity, but the co-op also returned a record $12 million in capital credits back to members in October, for the second year in a row,” the release stated.
GreyStone is a member-owned cooperative providing electricity and related services to more than 119,000 members in eight counties, including portions of Paulding, Bartow, Douglas, Fulton, Cobb, Carroll, Fayette and Coweta counties. For more information, visit www.greystonepower.com.