Broad River Electric Cooperative held its Annual Meeting on Saturday, May 6 at the Broad River Electric Auditorium in Gaffney. 1,091 Broad River Electric members gathered for a morning filled with activities, informative opportunities, music and food.
The meeting was also a chance for members staff and visit with the Board of Trustees. During the meeting, Anita Whitney, E. Dewitt McCraw and Bobby L. Foster were all re-elected to serve another term on the Broad River Electric Board of Trustees.
Because he was being inducted into the S.C. Polled Hereford Association’s Hall of Fame at Clemson University, Board Chairman Norris R. Fowler, Jr. spoke to the crowd via a prerecorded video. Referring to the new solar community array he stated, “Our Board of Trustees had ideas for a new vision, something that doesn’t just end with solar, but is symbolic for the future and training our youth.” He also recognized the value of Broad River Electric’s participation in economic development activities to “secure a large customer base in the industrial area.”
The accomplishments listed below were highlighted at the Annual Meeting:
- 2016 did not have a rate increase and the cooperative does not anticipate a rate increase in 2017.
- The Board of Trustees took action to maintain and improve financial strength while minimizing the impact of future cost increases. The results of these actions are an equity position of 25.8 percent, meaning members have $27 million in equity invested in the co-op.
- $790,000 was returned to members in the form of capital credits in December 2016.
- Broad River Electric’s membership grew 2 percent during a time many utilities are experiencing zero growth.
- For the second year in a row, Broad River Electric was awarded the President’s Safety Award
- Through economic development efforts, Broad River Electric, in partnership with community leaders, attracted Dollar Tree and Rite Aid to our service territory bringing 1,000 job opportunities to members. Additionally, the Sunny Slope property will soon have sewer capabilities and improve its potential for industrial development. In 2017, the Gestamp facility in Union County was energized.
- For efforts in economic development, education and innovation, Broad River Electric was recognized by Spartanburg Community College as a 2017 Economic Visionary winner.