Molly Ayala
Horry Electric Cooperative, Inc. is a non-profit, member-owned energy provider that serves customers in South Carolina. The cooperative currently has 83,458 residential accounts, 12,927 commercial customers, and 11 industrial customers in its service area. Horry Electric Cooperative was founded in 1940 with 627 charter members and began providing energy services in 1941.
| Characteristics | Values |
|---|---|
| Number of Customers | 96,396 (83,458 residential + 12,927 commercial + 11 industrial) |
| Average Electricity Rate | 13.22 cents per kilowatt-hour |
| Average Monthly Bill | $142.63 |
| Revenue from Electricity Sales (2023) | $171,505,000 |
| Percentage of Revenue from Retail Sales | 98.60% |
| Average Annual Salary | $91,219 |
| Highest-Paid Position | Chief Financial Officer |
| Highest Average Annual Salary | $368,138 |
| Lowest-Paid Position | Call Center Customer Service Representative |
| Lowest Average Annual Salary | $32,138 |
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What You'll Learn
Horry Electric Cooperative's customer base
Horry Electric Cooperative, Inc. is a non-profit, member-owned energy provider that serves customers in South Carolina. The cooperative was founded on April 25, 1940, with 627 charter members, and its system was energized on January 7, 1941.
Today, Horry Electric Cooperative has a diverse customer base, including residential, commercial, and industrial customers. As of 2023, the cooperative had 83,458 residential accounts, 12,927 commercial customers, and 11 industrial customers in its service area.
The cooperative's electricity rates are very competitive, with an average residential rate of 13.22 cents per kilowatt-hour, which is 6.65% lower than the South Carolina average and 18.04% lower than the nationwide average. This has likely made Horry Electric Cooperative an attractive option for customers, contributing to its large customer base.
In addition to its competitive rates, Horry Electric Cooperative also offers various programs and services to its customers. For example, the Surge Guard program provides members with a chance to win a $100 electric bill credit. The cooperative also has a mobile app that allows customers to easily manage their accounts and make payments.
Horry Electric Cooperative's customer-centric approach, competitive rates, and reliable services have likely contributed to its strong presence in South Carolina. The cooperative continues to focus on providing quality services and power to its diverse range of customers across the state.
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Residential, commercial, and industrial customers
Horry Electric Cooperative, Inc. is a non-profit, member-owned organisation that provides energy-related services to its customers. It was established on April 25, 1940, with 627 charter members and its system was energised on January 7, 1941. The cooperative currently serves 83,458 residential customers, 12,927 commercial customers, and 11 industrial customers.
Residential Customers
Horry Electric Cooperative provides electricity to thousands of homes in its service area. The average residential electricity rate is 13.22 cents per kilowatt-hour, which is lower than the average rate in South Carolina and the nationwide average. The average monthly electric bill for a residential customer is $142.63, slightly higher than the national average of $141.25.
Commercial Customers
Horry Electric Cooperative also serves a significant number of commercial businesses in its area. These commercial customers contribute to the cooperative's revenue, which primarily comes from retail sales to end users.
Industrial Customers
In addition to residential and commercial customers, Horry Electric Cooperative supplies energy to 11 industrial customers.
Horry Electric Cooperative's rates are competitive, and its electricity is sourced primarily through wholesale purchases. The cooperative's goal is to provide fair and equitable energy services to its members, and it continues to grow and expand its customer base.
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Average electricity rates and bills
Horry Electric Cooperative, Inc. is a non-profit, member-owned organisation that provides energy-related services to customers in South Carolina. The cooperative currently serves 83,458 residential accounts, 11 industrial customers, and 12,927 commercial customers in their service area.
The average residential electricity rate of Horry Electric Cooperative is 13.22 cents per kilowatt-hour, which is 6.65% less than the average South Carolina price of 14.16 cents and 18.04% lower than the nationwide average of 16.13 cents. In 2023, the company sold 1,299,120 megawatt-hours via retail sales to end users, primarily sourced from wholesale purchases (1,349,709 megawatt-hours).
The average residential electric bill for Horry Electric Cooperative customers is $142.63 per month, slightly higher than the national average of $141.25. This average bill amount is calculated based on the total revenue from retail sales to end users, which was $171,505,000 for the year 2023.
Compared to the average South Carolina resident's monthly bill of $149.87 and the nationwide average of $149.87 for bundled services, Horry Electric Cooperative offers a more competitive rate. The cooperative's current average bundled electricity rate is also 13.22 cents per kilowatt-hour, contributing to the lower average bills for their customers.
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Revenue from electricity sales
Horry Electric Cooperative, Inc. is a non-profit, member-owned organisation that provides energy-related services to its customers. In 2023, the company generated revenue of $171,505,000 from electricity sales, with 98.60% of this revenue coming from retail sales to end users. This revenue was derived from the sale of 1,299,120 megawatt hours via retail sales to end users, with an average residential electricity rate of 13.22 cents per kilowatt-hour. This rate is 6.65% less than the average South Carolina price of 14.16 cents and 18.04% less than the nationwide average of 16.13 cents.
The company's revenue from electricity sales is closely tied to its customer base and their energy consumption. Horry Electric Cooperative currently serves 83,458 residential customers, 12,927 commercial customers, and 11 industrial customers in South Carolina. The average residential electric bill for a customer of Horry Electric Cooperative is $142.63 per month, slightly higher than the national average of $141.25.
In terms of energy procurement, Horry Electric Cooperative primarily relies on wholesale purchases. In 2023, the company procured 1,349,709 megawatt-hours through wholesale purchases, exceeding the amount sold to end users. This suggests that the company may also resell excess energy or have other sources of electricity generation.
The revenue generated from electricity sales is essential for Horry Electric Cooperative's operations and sustainability. It allows the company to cover its costs, including employee salaries, energy procurement, and operational expenses. The company's average annual salary for employees is estimated to be approximately $91,219, with salaries varying based on factors such as job category and location.
Overall, Horry Electric Cooperative's revenue from electricity sales appears to be stable and sufficient to cover its expenses and maintain operations. The company's competitive energy rates and large customer base contribute to its financial stability in the energy sector.
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The company's history and structure
Horry Electric Cooperative, Inc. is a non-profit, member-owned organisation that provides information and energy-related services. Headquartered in Conway, South Carolina, it serves customers across the state. The company was established on April 25, 1940, with 627 charter members, and its system was energised for the first time on January 7, 1941.
The company's structure is governed by a nine-member board of trustees, who are elected by their fellow members at the Cooperative's Annual Meeting. This board is responsible for appointing an Executive Vice President and Chief Executive Officer, who then selects the leadership team that manages the organisation's operations and maintenance. As of 2025, the Executive Vice President and Chief Executive Officer is J. Reed Cooper, P.E., and the current CEO is Daniel B. Shelley, III.
Horry Electric Cooperative has a diverse customer base, with 11 industrial customers, 12,927 commercial customers, and 83,458 residential accounts in its service area. In 2023, the company's revenue from electricity-related activities was $171,505,000, with 98.60% derived from retail sales to end users. The average residential electric bill for a Horry Electric Cooperative customer is $142.63 per month, slightly higher than the national average of $141.25.
The company offers competitive salaries to its employees, with an average annual salary estimated at $91,219. The salary range within the company varies based on factors such as location, industry, job category, and department. For instance, Chief Financial Officer positions offer higher salaries, with an average annual salary of $368,138, while Call Center Customer Service Representative roles have a lower average annual salary of $32,138.
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Frequently asked questions
Horry Electric Cooperative has 83,458 residential customers, 12,927 commercial customers, and 11 industrial customers.
Horry Electric Cooperative was organized with 627 charter members. The cooperative is currently governed by a nine-member board of trustees.
The average electricity rate is 13.22 cents per kilowatt-hour, which is 6.65% less than the average in South Carolina and 18.04% less than the nationwide average.
Horry Electric Cooperative's revenue for 2023 from electricity-related activities was $171,505,000, with 98.60% coming from retail sales to end users.
