Due to GreyStone Power’s strong financial condition, the co-op is returning $12 million to current and former members. This capital retirement represents margins earned by GreyStone during 2003, 2004 and 2022.
Each year, GreyStone returns a portion of prior years’ margins to members. Capital credits usually represent a portion of the margins from the most recent year and the oldest previous year(s). This return occurs every fall in the form of a check. This year, capital credits checks are being mailed in early October.
Over the past 87 years that GreyStone has been in business, a total of $182.2 million has been returned to members.
As a not-for-profit cooperative owned by the members they serve, GreyStone Power is dedicated to providing members with reliable electric service at the lowest possible rates. GreyStone members also enjoy rates that are nearly 25% less than Georgia Power’s rates based on 1,500 kilowatt-hours, according to the Georgia Public Service Commission’s 2023 Summer Residential Rate Survey.
The amount of capital credits money members receive is determined by how much electricity they used during the years for which capital is being retired and the co-op’s cost of distributing the power during that time.
“These capital credits are GreyStone’s way of returning a portion of members’ investment in the cooperative back to the members. They have helped the cooperative to be the success that it is today. At GreyStone, we are focused on making life better in the communities we serve,” says GreyStone Power President/CEO Gary Miller.
GreyStone Power is a member-owned cooperative providing electricity and related services to more than 127,000 members in eight counties, including portions of Paulding, Douglas, Fulton, Cobb, Carroll, Bartow, Fayette and Coweta counties. Learn more at www.greystonepower.com.