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GreyStone Power members receiving Money-Back Credit
GreyStone is a different kind of power company. While other utilities plan to raise rates for their customers by hundreds of dollars a year, GreyStone is focused on keeping prices low. In fact, the cooperative ranked second-lowest among electric co-ops in Georgia, according to the Public Service Commission’s 2019 winter residential rate survey, based on the residential use of 1,000 kilowatt-hours (kWh) per month.
Not only are GreyStone Power members paying less than other Georgians do for electricity, but the co-op also returned a record $12 million in capital credits back to members in October, for the second year in a row.
And GreyStone is not stopping there. In 2019, because revenue exceeded projections due to the prolonged high temperatures, GreyStone is giving its members a special Money-Back Credit of $4 million. The one-time Money-Back Credit is based on members’ energy use and will be deducted from December bills.
All of this is in addition to the Wallet Watch Credit members receive each month, which has credited more than $20 million on members’ bills this year. That means GreyStone has given back more than $36 million in 2019.
“I am proud that we are able to give back to our members,” said GreyStone President/CEO Gary Miller. “As a not-for-profit electric cooperative, owned by the members we serve, there is no better feeling than to return such a large amount of money to our members while still providing safe, reliable and affordable electricity.”