CUMMING — An electric company serving most of Forsyth County has announced it will retire about $10 million to more than 95,000 current and former members through a general retirement of patronage capital.

Sawnee Electric Membership Corporation will distribute the funds to customers from 1998 and part of 1999, said Cindy Badgett, a spokeswoman for the Cumming-based utility.

Patronage capital is revenue the nonprofit collected through electric bills that were left over after operating costs and expenses.

According to state law, the board of directors at Sawnee EMC annually reviews the retirement of patronage capital to its members for certain periods of time, deciding to reimburse funds as long as it will not impair the “cooperative’s overall financial position.”

Sawnee EMC serves more than 166,000 accounts in seven north Georgia counties.

“Sawnee also retires patronage capital on a voluntary basis to the estates of deceased members,” said Blake House, vice president of member services.

Each member’s assignment of excess funding is based on the amount of revenue the individual or business provided the company through electric bills that year. The average refund this year is about $105, Badgett said.

Existing Sawnee members who received electrical services from the company during this period will receive their portion in the form of a credit on their March electric bill.

Former members who have a valid forwarding address on file will be mailed a printed check to their last known address around April 1.