SVEC

What SVEC does

Suwannee Valley Electric Cooperative (SVEC) is a not-for-profit, member-owned electric distribution cooperative founded in 1937 and headquartered in Live Oak, Florida. The cooperative delivers electricity purchased wholesale from Seminole Electric Cooperative (transmitted via Duke Energy and Florida Power & Light lines) across a 2,100-square-mile service territory spanning Columbia, Hamilton, Lafayette, and Suwannee counties, serving over 28,000 residential consumer-members through more than 4,100 miles of distribution lines. Operational infrastructure includes substations, Advanced Meter Infrastructure (AMI), a Geographic Information System (GIS) for equipment mapping, an Automated Vehicle Location system for crew dispatch, and an on-site fuel station to support storm response. The cooperative has invested in hardening assets such as sturdier tree wire to reduce outage frequency, cutting average residential outage time by 51% since 2014 to 2.5 hours in 2019.

SVEC's revenue model is a subscription, usage-based monthly billing structure on electric service, supplemented by capital credits patronage returns to members. In 2025 the cooperative completed a 100% fiber-to-the-home broadband network branded Rapid Fiber Internet, financed in part by a $10 million Florida Department of Economic Opportunity grant (2023) and a $42.38 million USDA facility (December 2024), opening a second subscription revenue stream. Ancillary member programs include Smart Thermostat rebates, a Solar Energy program, the FilterChange HVAC efficiency initiative, Operation Round Up community grants, scholarships, and Youth Tour civic engagement. The cooperative is governed by an elected board of trustees (including Bill Hart, Sam Roberson, Cynthia Boyette, and board president Hugh Hunter) and led by CEO Mike McWaters; the broader cooperative system advocacy runs through the Florida Electric Cooperative Association (FECA) and the National Rural Electric Cooperative Association (NRECA).

Name

SVEC

Legal name

Suwannee Valley Electric Cooperative, Inc.

Website

https://svec-coop.com

Company type

Private

Founded year

1937

Operating status

Operating

Headcount range

51–100 employees

Short description

SVEC is a not-for-profit member-owned electric cooperative that distributes electricity and, since 2025, fiber broadband (Rapid Fiber Internet) to over 28,000 residential consumer-members across a 2,100-square-mile rural four-county territory in North Florida.

Ownership category

akta.pro rank

Product category

Rural Electric Distribution Services

NAICS

Electric Power Distribution (221122), Electric Power Transmission, Control, and Distribution (22112)

SIC

Electric Services (4911), Electric, Gas & Sanitary Services (4900)

akta.pro primary industry

Electric Cooperatives (Rural/Member-Owned Utilities) (EUADABAC)

Keywords

• Electric distribution service
• Rural electric cooperative
• Fiber broadband internet
• Energy efficiency programs
• Member-owned utility

Headquarters

HQ city

Live Oak

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Infrastructure, Personnel, Operations, Supply Chain, Technology or R&amp, D, Others

Revenue model

1. Electric Service Fees: SVEC charges consumer-members for electric service. As a not-for-profit cooperative, revenues go directly into service quality and infrastructure. Capital credits are returned to members based on their usage.
2. Rapid Fiber Internet Service: SVEC offers high-speed fiber internet service called Rapid Fiber Internet to consumer-members across its service territory, providing an additional revenue stream beyond traditional electric service.

Pricing tiers

Go-to-market motion2 records

Distribution channels1 record

Marketing channels6 records

Core offering

SVEC is a not-for-profit rural electric cooperative that distributes safe, affordable, and reliable electricity to over 28,000 consumer-members across four North Florida counties through more than 4,100 miles of distribution lines. The cooperative has expanded into fiber-to-the-home broadband via Rapid Fiber Internet and offers energy efficiency programs including Smart Thermostat rebates, Solar Energy support, and FilterChange.

Product overview

SVEC (Suwannee Valley Electric Cooperative) is a not-for-profit rural electric utility providing safe, affordable, and reliable electric distribution service to over 28,000 consumer-members in Florida's Columbia, Hamilton, Lafayette, and Suwannee counties. The cooperative has expanded beyond traditional electric service to offer Rapid Fiber Internet, a fiber-to-the-home broadband network that brings high-speed internet to rural communities. SVEC also operates energy efficiency programs including Smart Thermostat, Solar Energy, and FilterChange programs. The cooperative operates on a member-owned, non-profit model guided by cooperative principles.

Differentiator

Problem solved

Functional benefit

Brands

• Rapid Fiber Internet: High-speed fiber-to-the-home broadband internet service powered by SVEC, now available at most locations in the cooperative's service area.

Products and services

• Electric Distribution Service Safe, affordable, and reliable electric distribution service provided to over 28,000 consumer-members across Columbia, Hamilton, Lafayette, and Suwannee counties in Florida through more than 4,100 miles of distribution lines and substations.
• Rapid Fiber Internet Fiber-to-the-home high-speed broadband internet service provided by SVEC to consumer-members in rural Florida communities, delivering reliable and affordable broadband access across the cooperative's service territory.
• Smart Thermostat Program Energy efficiency program offering rebates or incentives for members to install smart thermostats to manage household energy consumption.
• Solar Energy Program Program supporting residential solar energy adoption and integration for cooperative members.
• FilterChange Program Energy efficiency program helping members improve home energy efficiency through HVAC filter maintenance.

Quantifiable outcome

• 51% reduction in average outage time since 2014 (2.5 hours per residential member in 2019)
• +2 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Four partnerships are on record, tiered core and minor.

• Florida Electric Cooperative Association (FECA)coreStrategic or Co-development PartnerFECA represents 1.2 million members getting electricity from 17 cooperatives throughout Florida, amplifying their voice with legislators on state and federal levels. FECA advocates for cooperative-friendly policies and helped advance the RURAL Act to protect cooperative tax-exempt status.
• Seminole Electric CooperativecoreStrategic or Co-development PartnerSVEC purchases power from Seminole Electric Cooperative, which generates electricity transmitted to SVEC's service territory via Duke Energy and Florida Power & Light transmission lines.
• United Way of Suwannee ValleyminorGTM or Marketing PartnerSVEC sponsors United Way's COVID-19 Relief Fund and hosts the annual Suwannee Valley Cornhole Tournament with proceeds going to United Way.
• County Extension OfficesminorStrategic or Co-development PartnerSVEC works with Suwannee County Extension and other county extension offices to provide educational resources to farmers and community members on farming research, financial management, and wellness programs.

Scale indicators12 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Clay Electric Cooperative: Member-owned electric distribution cooperative serving parts of north central Florida with a similar mix of residential and small commercial members and a comparable geographic and operational profile to SVEC.
• SECO Energy (Sumter Electric Cooperative): One of the largest electric distribution cooperatives in Florida, serving member-owners across seven counties. Operates a similar distribution-only model with community programs and storm response comparable to SVEC.
• Peace River Electric Cooperative: Florida member-owned electric distribution cooperative headquartered in Arcadia serving residential and commercial members in a rural/central Florida footprint directly comparable to SVEC.
• Tri-County Electric Cooperative (Florida): Florida electric distribution cooperative serving member-owners in a multi-county rural service area, with similar scale, governance, and storm exposure to SVEC.
• Central Florida Electric Cooperative: Member-owned electric distribution cooperative serving parts of central Florida, overlapping SVEC's rural distribution profile and member-services operating model.
• Glades Electric Cooperative: Florida member-owned electric distribution cooperative operating in rural south-central Florida with a comparable small-cooperative footprint, governance, and member-services approach to SVEC.
• Lee County Electric Cooperative (LCEC): One of the largest distribution cooperatives in Florida, serving members across Lee, Hendry, Charlotte, and Collier counties. Comparable cooperative model, although substantially larger than SVEC.

Others

• Seminole Electric Cooperative: Generation-and-transmission cooperative that supplies wholesale power to SVEC and other Florida distribution co-ops. Not a direct competitor, but the upstream counterparty in SVEC's supply chain and an industry peer in the Florida cooperative ecosystem.

Broad incumbents

• Duke Energy Florida: Investor-owned utility that operates adjacent transmission assets used by SVEC and competes for retail load near SVEC's chartered territory. A broad incumbent in Florida electricity, with much larger scale and a different ownership structure.

Emerging players

• Co-Mo Electric Cooperative: Rural electric distribution cooperative that, like SVEC, has built a fiber-to-the-home broadband subsidiary (Co-Mo Connect). Comparable in size and rural electric-to-broadband diversification strategy, providing a useful peer for SVEC's Rapid Fiber trajectory.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/SVEC_COOP_FL

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries1 record

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SVEC