Electric Cooperatives: Existing Solely for the Benefit of its Members
The South Carolina Electric Cooperatives are consumer-owned and -controlled businesses that operate on a not-for-profit, cost-of-service basis. Any savings the cooperatives gain are passed on to its members. Members also have control over the governance of their electric cooperative and have the power to elect a board of trustees to set policies and rates for their electricity.
The cooperatives were formed in the 1930s and 1940s because investor-owned power companies saw no value in bringing electricity to people in rural areas. These areas, though some are no longer rural, are still served by the member-owned electric cooperatives.
In other words, we exist to serve our members and supply electricity to members who are owners themselves. We are committed to providing safe, reliable, and affordable electricity and other services to our members while improving the communities we serve.
Central Electric Power Cooperative, Inc., the 19 member-owned cooperatives, and our statewide partners follow the same principles and values as all other cooperative enterprises. The Seven Cooperative Principles are:
Voluntary and Open Membership
Cooperatives are voluntary organizations open to all persons able to use their services and willing to accept the responsibilities of membership, without gender, social, racial, political or religious discrimination.
Democratic Member Control
Cooperatives are democratic organizations controlled by their members, who actively participate in setting policies and making decisions. The elected representatives are accountable to the membership. In primary cooperatives, members have equal voting rights (one member, one vote); and cooperatives at other levels are organized in a democratic manner.
Members’ Economic Participation
Members contribute equitably to, and democratically control, the capital of their cooperative. At least part of that capital remains the common property of the cooperative. Members usually receive limited compensation, if any, on capital subscribed as a condition of membership. Members allocate surpluses for any or all of the following purposes: developing the cooperative, possibly setting up reserves, benefiting members in proportion to their transactions with the cooperative, and supporting other activities approved by the membership.
Autonomy and Independence
Cooperatives are autonomous, self-help organizations controlled by their members. If they enter into agreements with other organizations, including governments, or raise capital from external sources, they do so on terms that ensure democratic control by their members and maintain their cooperative autonomy.
Education, Training, and Information
Cooperatives provide education and training for their members, elected representatives, managers, and employees so that they can contribute effectively to the development of their cooperatives. They inform the general public, particularly young people and opinion leaders, about the nature and benefits of cooperation.
Cooperation Among Cooperatives
Cooperatives serve their members most effectively and strengthen the cooperative movement by working together through local, national, regional, and international structures.
Concern For Community
While focusing on member needs, cooperatives work for the sustainable development of their communities through policies accepted by their members.