$16 million.
That's the amount that Jackson EMC's former and current membership will be receiving in margin refund checks throughout this month.
Jackson EMC announced this week that after the December refund, it will have refunded $220 million to its member-owners since its founding in 1938.
Margins are refunded for a combination of years, so former, long-term and newer members benefit from belonging to an electric cooperative
A release from JEMC stated that the margin refunds will go to those who received electric service in 1998, '99, 2000 and/or 2003, with the amount of each members' check based on the amount each paid for service during those years.
Rodney Chandler, chairman of the Jackson EMC Board of Directors says in the release, “ We are thrilled to return $16 million in margin refunds to our current and former members. Each year, any revenues remaining after covering the cost of providing electricity are reinvested by Jackson EMC to enhance our distribution system—upgrading poles, transformers, substations, and related equipment. Surplus revenues are then returned to our members as margin refunds.
"We focus on member service, not profits. Jackson EMC has a long history of providing safe, reliable and affordable electricity to members, and also a great history of returning surplus margins back to our members.”
More details and a link to Jackson EMC can be found at jacksonemc.com/marginrefunds.
Jackson Electric Membership Corporation, the largest electric cooperative in Georgia and one of the largest in the nation, is headquartered 50 miles northeast of Atlanta in Jefferson, Ga. The cooperative serves more than 266,000 meters on 15,260 miles of energized wire. For more information, visit jacksonemc.com.
