OCTOBER 2004

Members celebrate ownership in October

A crowd of more than 3,000 GreyStone Power members and their families gathered on Oct. 9 at GreyStone Power’s Annual Meeting. The meeting, with a carnival-like atmosphere, culminated with an overview of GreyStone’s current financial status and plans for the future. A record number of 1,067 registered members were on hand for the event.

“It was wonderful to see so many members taking an active interest in the business of their Cooperative,” said GreyStone Power President/CEO Gary Miller. “It gives our members a chance to see the value of owning their electricity provider. It also gives our members a sense of community and a chance to connect with each other.”

Each year GreyStone Power holds a festival and business meeting open to more than 83,000 members from portions of eight counties across West Georgia. Anyone who receives power from GreyStone owns part of the Cooperative and is considered a member.

Miller spoke to the members during the business meeting, highlighting the challenges of increased power needs and recent contract negotiations to allow GreyStone to supply members with the most reliable energy available on the market.

“For more than a decade GreyStone’s rates have stayed the same, while increases in the demand for electricity have grown by nearly 77 percent over eight years,” said Miller. “In May GreyStone Power signed a six-year contract with Progress Ventures, Inc. out of North Carolina, an agreement reached after three years of intensive negotiations that will continue to allow us to meet your growing energy needs.”

According to Miller, out of approximately one thousand electric cooperatives across the nation, GreyStone Power ranks in the top twenty in size. Since 1996, the co-op has experienced a 58 percent increase in members. The utility has also increased its value by 38 million dollars over that same time, and two million dollars of that capital has been returned to members this fall in the form of capital credit checks.

“Since 1996, we’ve built over 1490 miles of energized lines to meet the challenge of our continued growth,” said Miller. “Over the last month alone 28 new subdivisions have come to GreyStone for electric service, representing 3,500 future homes. Over the next several years, GreyStone expects to welcome nearly 50,000 new members into our family: and this is from developments we’re already aware of! But rest assured that no matter how large we become, when you flip on a switch at your home or business, you will receive the most reliable power possible. And that’s a promise.”

The Southern Gospel group ‘Brian Free and Assurance’ and local group ‘Christian Heritage’ provided entertainment for the crowd before the business meeting began. Other highlights of the day included a comprehensive health fair and a carnival-like atmosphere featuring face painting, popcorn and cotton candy, caricatures and rides for children of all ages. Despite the flu-vaccine shortage, 300 members were able to receive flu shots at the health fair. More than 70 prizes were given to members in the annual raffle. Sandra Jerkins of Powder Springs drove away in the grand prize, a 1995 Chevrolet 1500 truck that was retired from the GreyStone fleet.

Three director seats were up for election at the business meeting. Jennifer DeNyse, Charles Rutland and Ed Garrard were each re-elected to their respective seats on the GreyStone Power Board.

Members were also told about a new co-op office building in Paulding County that will break ground later this year. The building, created to serve the growing number of members in the county, will be conveniently located on Hwy. 278 just off Cadillac Parkway.

To find out when next year's Annual Meeting will be, click here!