In 2022, Cobb EMC celebrates 84 years of serving our membership through innovation and dedication to our local communities throughout the five counties that we serve. Despite the ongoing challenges of the COVID-19 pandemic and inflation, Cobb EMC’s employees and board of directors have worked together to adapt to the ever-changing state of the world. We can’t thank our employees enough for their ability to work through these challenges and we are excited to share with you our continued progress.
back to our battery storage building. This innovative design will allow Cobb EMC to operate autonomously and to power our essential electric operations in case of an emergency. This renewable energy technology also sets us up to meet and exceed our energy goals: to reduce our carbon emissions by 75% and increase our renewable energy portfolio by 200% by 2030.
Plus, we offer energy efficiency tips and education opportunities through webinars and resource centers on our website.
We take pride in our high service levels because resilient, reliable power means more time for you to focus on the moments that matter most. We’re committed to continually strengthen our smart technology and enhance our system infrastructure so that you always have power you can rely on. Out of the thousands of electric utilities in the U.S., Cobb EMC is ranked first in the nation for restoring outages quickly and second in the nation for providing reliable power, according to the IEEE.
Over the past year, we have upgraded our website and outage map with state-of-the-art features and enhanced usability for you. These changes will help you quickly find the information you need when you’re visiting our website or experience an outage.
We are developing renewable energy that future generations will be proud of. This year, we are completing a microgrid project at our headquarters. Rooftop solar panels across our campus capture sunlight and feed energy
At a time when Americans’ electric bills are going up all around the country — in some places by as much as 40% — our focus remains on keeping rates affordable for you. In 2021, Cobb EMC protected members from higher rates by absorbing $10 million in rising wholesale power costs with the help of dividends received from Gas South, our wholly-owned subsidiary. Gas South helps us remain financially strong, which helps to keep electric rates low and reliability solid. Our team also works year-round to keep your rates low through diligent cost control, stable long-term power supply contracts and the addition of economic renewable energy resources. Our rates are among the top five lowest in Georgia, according to the Public Service Commission. We are always working for you — our members.
We understand that every home has different needs. That’s why we offer six different rates for you to choose from — including an EV-friendly rate and a “set it and forget it” rate. We have different options that fit your budget and your energy use patterns. Our Energy Network program also offers incentives to help you purchase and install energy improvements in your home.
We consider ourselves a neighbor in our community, and we believe in acting like one. We’re working hard to make our community a wonderful place in which to work and live. We’re an active partner at more than 150 schools in our five-county service area and have helped more than 225 local students with scholarships worth more than $700,000. We also give back through the Cobb EMC Foundation, which many of our members support through Operation Round Up. They’ve given more than $7 million to neighborhood nonprofits in the form of transformational minigrants. We don’t just serve our community, we’re a part of it.
These opportunities to serve our members have been made possible by the commitment of employees and your board of directors over the past year. We live by the cooperative principles and the cooperative difference. We are not driven by profits nor making a return for shareholders. Our focus is on keeping this business financially strong on your behalf while continuing to provide you with reliable, sustainable and safe service at the lowest possible cost. Thank you for being a valued member of Cobb EMC.
Kevan Espy, President and CEO , Board Chairman
David Tennant
RELIABLE, RESILIENT POWER
POWERING INNOVATION
Our 2030 Clean Energy Goal is our long-term commitment to a cleaner community for our members. Solar energy is a renewable energy option that allows us to continue to serve members while keeping costs as low as possible.
The continual improvements we put into place will reduce carbon emissions in our mix by 75% and will increase the amount of renewable energy we use to power members’ homes and businesses. As a step toward this goal, we recently expanded our solar energy portfolio to include solar power from a 68-megawatt (MWAC) solar project in Houston, Ga.
To further our commitment to clean energy, we are taking advantage of battery storage onsite. Energy stored in the battery can be deployed on days when peak load is high to reduce the demand on our system. Cobb EMC was the first utility to install a battery storage system on its campus to serve as both a power source and a community education center.
Achieved a 30% reduction in carbon emissions toward our 2030 Clean Energy Goal. 30%
Now more than ever, we want to empower our members to make the best decisions for their home energy needs. Many companies are offering solar services and finding the right fit can come at a high cost. We want to safeguard our members from the financial impact of solar scams.
We have increased our solar energy resources to help you with each step of the process as you consider solar for your home or business. We improved our online Solar Energy Center to provide the information you need, and our dedicated energy advisors are available to serve as a trusted resource.
Our commitment to low rates
In a time where costs are rising, rest assured that Cobb EMC is committed to keeping our rates as low as possible.
We provide you with some of the lowest rates in the state at an average of 8 cents per kWh, which is below the national retail rate of 12.4 cents per kWh, and our rates are among the top five lowest in Georgia according to the Public Service Commission.
To help members make the most of their energy experience, Cobb EMC created the Energy Network. The Energy Network gives you an incentive for making energy improvements in your home, and connects you to a network of resources and members who are also saving energy like you. The Energy Network is one way we can provide an affordable option for members who want to make positive energy changes at home.
Learn more at cobbemc.com/energynetwork
In 2021, the Energy Network paid out 300 incentives.
EV
Get $250 when you install an EV charger at home.
Get up to $500 when you make qualifying improvements.
Get $100 when you install a smart thermostat at home.
We support energy efficiency to help members save energy and money when it comes to electricity bills. As your trusted energy expert, we provide resources to help you find the energy measures that will result in true energy savings.
The U.S. Department of Energy estimates that you can save from five to 30% on your utility bills with energy-efficient appliances and home upgrades. When you conserve energy, it benefits all of us and allows Cobb EMC to keep rates low. Ready to save? Here are a few ways to get started.
Perform a home energy audit to see where you have opportunities to save in your home. Cobb EMC can help you decide which energy efficiency measures make the most sense for your home.
Heating and cooling your home accounts for a large portion of energy use. Make sure your system is running efficiently with an annual tuneup. You can save $50 with the HVAC Tuneup Program.
Select a rate option that fits your energy needs. Whether you drive an EV, or like to save energy, we have rates that allow you to control when you use electricity to maximize your savings.
Visit our online Energy Saving Center to request a free energy efficiency kit and to access resources that can help you save energy and money all year long. cobbemc.com/save
Building on our purpose – to deliver reliable power to our members – we invest in strengthening our distribution system, which is made even stronger when we enhance our technology.
We work year-round to help prevent and reduce power outages to provide you the most efficient service possible.
Our infrastructure is the backbone of our power grid. Routine maintenance and upgrades on our system are some of the most important things we do to provide reliable electricity.
Our power grid features smart technology that is delivered over a fiber-optic network for fast and secure communications. Combined with Advanced Metering Infrastructure (AMI), we can heal the grid and restore power almost immediately when the lights go out.
In 2022, we launched a state-of-the-art outage map that provides real-time outage details across our entire five-county service territory. The map data is updated every 10 minutes, giving members the most accurate information available to help them stay connected when they need it most.
The interactive outage map allows members to search for an outage by address. Additional outage details are available including the estimated time power will be restored, when crews are on the way and the cause of the outage. Members can also report an outage from the map.
We will continue to expand our services to better serve you.
In 2022, Cobb EMC incorporated microgrid technology into our system to allow us to operate autonomously should the need arise. The microgrid system can restore power to the entire campus and supply power continuously in the event of an outage. We are among the few co-ops in the nation using this type of technology to increase the quality and resiliency of our power system, recognizing our dedication to industry-leading solutions.
Many outages in our area are treerelated. Proactively trimming trees in the right-of-way helps reduce outages and eliminates safety hazards.
Our microgrid system can generate enough energy to power the equivalent of 600 homes.
Putting members first is what we were built on, and it’s how we continue to operate. We have a responsibility to the community that we all call home. This means powering our future generation, fostering economic development and doing good for our environment.
$129,077 in education impact in 2021
$4,500 $83,000 Minigrants funded 87 projects in partner schools across our service territory
$41,577
Scholarships for students in partnership with the Chattahoochee Nature Center
149 1,518 21.2
Partner in Education with 149 schools in our service territory
Members who saved with an HVAC Tuneup Voucher, which also supports local businesses
Partnering with our community to foster economic development
Together we recycled 21.2 tons of metal and 17.7 tons of paper during our Recyle Day event
Cobb EMC serves as a sponsor for the YMCA and the Chattahoochee Nature Center to support learning and equity in our community. Along with our Shop With a Lineman event, our employees gather annually to buy Christmas gifts for foster children and supported 141 children and teenagers in 2021. Through our education and community relations efforts, we awarded nine school tree plantings to local schools and sponsored science fairs and Olympiads for Cobb, Cherokee and Paulding counties. We’re proud to help our area grow and prosper by powering local businesses and helping to attract, retain and expand job growth in our community.
Cobb EMC Foundation, Youth Leadership Program and Positive Energy scholarship awards to student membersAs a not-for-profit, member-owned cooperative, Cobb EMC is dedicated to providing members the best service at an affordable price.
Reliable, safe electricity, Rate competitive, Robust governance, Relevant services, Recognized employer
Put
Our co-op operates according to a core set of principles that make us different from other utilities.
1. Open and Voluntary Membership
2. Democratic Member Control
3. Members’ Economic Participation
4. Autonomy and Independence
5. Education, Training and Information
6. Cooperation Among Cooperatives
7. Concern for Community
Cobb EMC members who receive service from Gas South get a permanent discount on natural gas rates.
Gas South and Cobb EMC work together to save you money. As a member, Gas South offers special savings just for you on natural gas service, including no deposit, no connection fee and a permanent discount on everyday low rates.
And they don’t stop at savings. As part of Gas South’s purpose to “Be A Fuel For Good,” the company pledges 5% of its annual profits to support children in need, which means you’re getting service that you can feel good about.
Gas South, Cobb EMC’s wholly-owned subsidiary, helps the co-op remain strong by returning its profits, which in turn helps to keep electric rates low and reliability solid.
Gas South provides natural gas service to more than 425,000 residential, commercial, industrial and wholesale customers throughout the Southeast.
Start saving today: GasSouth.com/CobbEMC
The co-op is regulated by a board of nine directors who work diligently to plan for the future. Directors are elected from and by the membership. To learn more about each director go to cobbemc.com/board. To see which areas of the co-op they serve, visit cobbemc.com/district
As a co-op member, you have a voice and we invite you to get involved in shaping our future. Voting for director elections will take place by mail, email or at the Annual Meeting. Check your mail in August for your election packet.
David McClellan, Incumbent, District 4, and his family have been Cobb EMC members for over 30 years. He has over 40 years of financial and accounting experience. Education: BBA in Accounting, MBA in Finance; Experience: Big 4 public accounting, Fortune 500 companies, CFO for privately owned and private equity owned companies. Served on numerous committees for Cobb EMC as well as the Gas South Management Committee.
William C. Sharp, III (Tripper), Incumbent, District 5, has served on the board since 2012 with four of those years as board Chairman. He serves as Chairman of the Management Committee for Gas South, and on the Cobb EMC Budget and Finance Committee, Governance Committee and Public Affairs Committee. He is President and CEO of Sharp Home Care which provides in-home senior care services throughout metro Atlanta. Previously he spent 20 years in the financial services industry holding multiple leadership roles, including executive management. He is a graduate of Kennesaw State University and resides in Acworth with his wife and children.
Bryan Boyd, Incumbent, District 8, resides in west Cobb and has lived in the community for 45 years. He has served as Chairman of the Board for Gas South, a wholly-owned subsidiary of Cobb EMC, and has served as Secretary, Vice Chair and Chairman of the Board for Cobb EMC. Boyd is the Chief Operations Officer and Partner of Archer Restoration Services Inc. in Acworth.
Emory Benson, District 8, resides in west Cobb and has lived in the community for 39 years. He worked in the electric industry for 42 years, with 38 of those years spent in an electric utility co-op where he eventually became Director of Safety before retiring. Benson is also a licensed electrical contractor and owns a construction company in Cobb County.
To learn more about the board of directors and to see the director elections process, go to cobbemc.com/annualmeeting
Ed Crowell District 1
David Tennant District 6 Chairman
Rudy Underwood District 2 Vice Chairman
Malcolm Swanson District 7
Kelly Bodner District 3 Secretary-Treasurer
Bryan Boyd District 8
David McClellan District 4 Tripper Sharp District 5
BALANCE SHEET – CONSOLIDATED ASSETS
Net Utility Plant
Cobb Electric Membership Corporation is a not-for-profit electric membership corporation whose purpose is to provide electric service to its members.
The consolidated financial statements represent the financial position and results of operations of Cobb Electric Membership Corporation and its wholly-owned subsidiaries, Cobb Energy Management Corporation, Gas South LLC and Fiber South Broadband LLC.
McNair, McLemore, Middlebrooks & Co. LLC conducted our audits as of Dec. 31, 2021, in accordance with auditing standards generally accepted in the United States of America.
The financial information included in this report represents a summary of our consolidated financial condition and operating results. Copies of the audited consolidated financial statements are available at cobbemc.com. Review these statements for a more comprehensive overview of our financial condition.
Other Property and Investments
Current Assets
Other Assets
BALANCE SHEET – CONSOLIDATED EQUITIES AND LIABILITIES
Equities
Long-term Liabilities
Current Liabilities
Deferred Credits
CONSOLIDATED STATEMENT OF OPERATIONS
Operating Revenues
Operating Expenses: Cost of Revenues
Distribution Operations
Distribution Maintenance
Consumer Accounts
Consumer Service and Information
Administrative, Selling and General Depreciation and Amortization
Operating Taxes
Total Operating Expenses
Kelly BodnerSecretary-Treasurer
Cobb EMC Board of Directors
Operating Margins Before Interest Expense
Interest Expense
Operating Margins After Interest Expense
Non-operating Margins
Generation and Transmission Patronage Allocations
Other Capital Credits and Patronage Allocations
Net Income Before Income Taxes
Income Tax Expense
Net Income
We’re offering two ways to attend the Annual Meeting this year to share how we’re working to bring you reliable, affordable electricity.
Register and attend in person to be eligible for free fair tickets and the chance to win prizes! Can’t make it? Watch the business meeting online to hear more about your co-op.
Saturday, September 17
8-11:30 a.m. at Jim R. Miller Park
8-9:30 a.m.: Member registration
More info: cobbemc.com/annualmeeting
For the safety of our employees and members, we will be following CDC guidelines during the event
Want to register faster? Bring this magazine, a copy of your bill or the Cobb EMC app to simplify registration and help speed up the line.
