Municipal Competitive Trust Credits
The Municipal Competitive Trust (MCT) was established for our Participants in 1999 in anticipation of the deregulation of electric power in Georgia. In 2008, the threat of deregulation no longer existed, and MEAG Power was able to effectuate amendments to the MCT allowing the trust funds to be utilized for the purpose of lowering the Participants’ wholesale power supply costs during the period from 2009 through 2018. As a result of one of these amendments, each community has benefited from a reduction in their power costs, totaling approximately $676 million. Some have elected to use the additional financial capacity to fund possible future generation, while others have used their lowered generation charges to direct funds to various local projects such as infrastructure, economic development, downtown renovation and more. Good thinking all around.