GreyStone Power Corporation is a not-for-profit cooperative that is owned by its members. Its members are its owners, so margins are returned to its members as opposed to stockholders in a for-profit business.
This year’s retirement represents capital contributed in 1994, 1995 and 2012. The amount returned over the years has reached $65.5 million, including $3.5 million being returned to members this year. The amount returned to specific customers is based on the amount the customer paid during specific years and how much GreyStone can return to members while remaining financially healthy.
GreyStone Power rates are among the lowest in the State of Georgia, as seen on the Georgia Public Service Commission’s web site, www.psc.state.ga.us.Douglas County received its membership check of $13,667.20 personally from GreyStone’s Economic Development Director Ed Cahill. Douglas County Commission Chairman Tom Worthan accepted the check with gratitude.