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Berkeley Electric Cooperative to pay members $6.5 million in credits and rebates

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Crews working to restore power, following strong winds (copy)

Linemen from Berkeley Electric Cooperative restore power following Hurricane Florence in 2018. Customers of Berkeley Electric Cooperative are set to receive more than $6 million back from the organization. Provided

Customers of Berkeley Electric Cooperative are set to receive more than $6 million back from the member-owned utility. 

The payments will come in the way of $3.4 million in credits for the customers, who are members of the co-op.

They will also receive a one-time rebate on their power bills that will save the co-op's 103,000 members another $3 million immediately. 

The amount each co-op member receives is based on how much power they used over the past year. Anyone receiving less than $20 for the credits or the rebates will see their power bill discounted. 

Members receiving anything higher than $20 will receive a check. 

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The Berkeley Electric Cooperative is the largest electric cooperative in South Carolina. It operates the power lines running to homes and businesses in parts of Berkeley, Charleston and Dorchester counties. 

Unlike investor-owned electric utilities, co-ops are owned by their members. They are required to return profit margins back to those members.

In the past three years the Berkeley Electric Cooperative returned $17.2 million to its members.

Reach Andrew Brown at 843-708-1830 or follow him on Twitter @andy_ed_brown.

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