The electric co-operative's board of directors last month approved $5 million in rebates to its 190,000 customers. The average rebate is $20. The rebate is directly proportional to the amount of electricity used; therefore, those who used more power will get a larger rebate.
"At the conclusion of 2009, Cobb EMC had funds remaining from its wholesale power adjustment, which means the power purchased for delivery to homes and businesses of its 190,000 members did not cost as much as anticipated," according to a release from the co-op.
Larry Chadwick, chairman of the Cobb EMC board of directors, said, "It always comes as a pleasant surprise when the cost to acquire electricity comes in below what we expect it to be. Assuring that our members have reliable and affordable electricity 24 hours a day, seven days a week is a complicated puzzle that we are constantly working to solve."
Cobb EMC spokeswoman Carol Cookerly said the co-op has sent out $38 million in rebates since 1994. The last disbursement was in 2004, she said.
Checks were mailed out Thursday, Cookerly said.