MONCKS CORNER (January 3, 2019) – Berkeley Electric Cooperative recently hit a milestone by becoming the first electric cooperative in South Carolina to reach 100,000 member-accounts. To celebrate reaching this goal, Berkeley Electric awarded a $1,000 bill credit to the 100,000th member as well as to another lucky member drawn at random. David Perry of Mt. Pleasant signed up for service on Dec. 17th and became the lucky 100,000th member. Rhonda Clark of Bonneau, a Berkeley Electric member for over 20 years, was the winner of the random drawing and will also be receiving a $1,000 bill credit. Based on the average residential bill for the cooperative, each winner will receive approximately half a year’s worth of free electricity.
These prizes were in addition to the $5.7 million that Berkeley Electric Cooperative returned to its members in December. As a not-for-profit electric utility, Berkeley refunds margins to its members when available. This year the cooperative was able to return $4 million as an Energy Rebate and an additional $1.7 million as Capital Credits. Funds were issued mid-December thru early January. Members of an electric cooperative are also considered owners. This qualifies them to receive Capital Credits which are similar to dividends paid to stockholders in a for-profit company and are based on a formula that includes membership length and total energy usage.
Berkeley Electric Cooperative is the largest electric cooperative in the state now serving over 100,000 member- accounts in Berkeley, Charleston and Dorchester counties.