Sawnee Electric Membership Corp. customers may see savings on their March bills.
The utility announced Friday that it is planning a $4.7 million refund of patronage capital to eligible members.
This action will give customers who were members of Sawnee EMC during 1988 and/or ’89 a credit on their March bill.
According to a news release from Sawnee, because it is a cooperative, members receive an assignment of "patronage capital" each year. It’s based on the amount of capital they provided through their electric bills.
If costs are less than the capital amount received, under Georgia law, the excess will be refunded to members.
Sawnee EMC returns the funds when the board of directors determines that doing so will not impair its financial condition.
Each individual refund will vary based on the amount of patronage capital contributed and any outstanding balance owed to Sawnee.
Former qualifying members who no longer receive electric service from Sawnee EMC will be mailed a check to their last known address around March 16.
Every month Sawnee also refunds patronage capital to the estates of deceased members.
During the past 12 months, it has refunded more than $167,000 to the estates of deceased members.
Executors of former Sawnee EMC members should contact the customer service center at (770) 887-2363 to find out if their family member’s estate is entitled to a patronage capital refund.