Electric Co-op Today

New and expanding businesses that locate in South Carolina could get a break on their energy costs under a new initiative launched by the state’s electric cooperatives and their state-owned power supplier.

Ron Calcaterra of Central Electric Power Cooperative (left) joins Ralph Thomas of the South Carolina Power Team, Mike Couick of The Electric Cooperatives of South Carolina and Lonnie Carter of Santee Cooper following an economic development press conference. (Photo By: Keith Phillips/ Electric Cooperatives of South Carolina)

Companies that agree to certain capital investment and workforce requirements over a period of at least eight years could save as much as 40 percent of the costs of their power bills.

“We must look for ways to grow the state’s economy,” said Ron Calcaterra, CEO of Central Electric Power Cooperative. The Columbia-based G&T is one of 20 co-ops in South Carolina working with Santee Cooper to offer an economic development rate to attract new businesses.

“By partnering with Central and the electric cooperatives in the development of this new rate, we’ve produced another key incentive for recruiters to bring additional jobs to our state,” said Santee Cooper’s Lonnie Carter.

As president and CEO of the state-owned utility, Carter joined co-op officials in announcing the new rate at a news conference in Columbia, Feb. 1.

The member-owned co-ops provide power to 46 counties, and serve rural and suburban areas likely to attract new business development, officials said.

“Economic development incentive rates will be a tremendous asset in bringing new businesses and jobs to those areas,” said Ralph Thomas, president of the South Carolina Power Team. The economic development organization, jointly funded by Central Electric Power Cooperative and Santee Cooper, promotes business growth throughout the state.

While final details on the new rate for qualifying businesses may not be worked out for several weeks, it is based upon reductions in the demand charge during a company’s or new facility’s first four years of operations, officials said.

Plans call for the co-ops and Santee Cooper to offer the rate to new or expanding industrial accounts through the end of 2014. Co-op officials have notified Gov. Nikki Haley and other elected officials that they plan to use the rate as an incentive for new business development.

“There’s nothing that would help the 1.5 million South Carolinians we serve more than an improved economy,” said Mike Couick, CEO of The Electric Cooperatives of South Carolina. “We’re glad to do our part.”

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Tags: Co-op News, Local Initiatives