Broad River Electric Cooperative is committed to providing reliable electric service and keeping rates stable for its members, while also being responsive to the needs and opinions of the community. The Annual Meeting, April 25–27, is an opportunity for members to review our work in 2022, get involved and have a say in the future direction of Broad River Electric.
The 83rd annual meeting will take place at the main office at 1036 Webber Road in Cowpens, with a virtual option available for those unable to attend in person. Members’ participation is essential as everything the cooperative does is shaped by input from our members.
This past year, we worked hard to provide our members with stable rates and a reliable electricity supply, while focusing on community issues and investments to make our community a better place to live.
The cooperative has continued working with other cooperatives to attract new business and industry to the area. As a result, the cooperative has seen 2% net account growth, well above the national average for utilities.
The team at Broad River is committed to providing reliable electric service to its members, and the electric distribution system requires investment and routine maintenance to meet the high bar set by member expectations and past performance. These investments lower costs through reduced outages and decreased outage restoration time. In 2022, the system reliability index was 99.98%, meaning electric service was available 99.98% of the time.
Rate stability is also a top priority for the cooperative, and rates have not increased since 2015. Despite forecasted increasing costs in the energy sector, the cooperative has taken steps to offset these costs and keep rates stable. The goal for 2023 is to not increase rates at all, with a maximum increase of 1% in the worst-case scenario.
Community initiatives were also a major success in 2022. Broad River Electric moved into its new headquarters facility where the Annual Meeting will be held in Cowpens. To ensure the former building would continue to serve the community, the executive leaders and Board of Trustees of Broad River Electric formally transferred the facility in Gaffney to Cherokee County for use as a Public Works Department site as well as a recreational facility for the community.
In October, 18 teachers in Union, Spartanburg and Cherokee counties received Bright Ideas Grants totaling $13,000 to fund educational programs and projects for their students. Additionally, Broad River Electric was able to donate school supplies to 20 schools and after-school programs throughout our service area during the fall school supply drive. That’s all thanks to the generosity of members enrolled in Operation Round Up, which rounds up their bill to the next dollar to generate charitable funds. This small change adds up to approximately $100,000 in annual donations to local charities.
We hope you’ll exercise the benefits of your co-op membership and join us for the annual meeting on April 25–27. We look forward to seeing you!
Download Broad River Electric's Annual Financial Statement for 2022 (PDF):