Laurens Electric Cooperative
- Company typePrivate
- Founded1939
- HeadquartersLaurens, United States
- Headcount101–250
- GTM typeB2C
- OfferingServices
What Laurens Electric Cooperative does
Laurens Electric Cooperative is a member-owned electric distribution cooperative serving residential, commercial, and industrial consumers across seven counties in upstate South Carolina: Laurens, Greenville, Spartanburg, Anderson, Abbeville, Newberry, and Union. Founded in 1939, the cooperative operates within an exclusive regulated service territory as a Touchstone Energy affiliate, distributing electricity purchased at wholesale from Central Electric Power Cooperative. Operations span substations, distribution lines, tap lines, and last-mile service lines to individual homes and businesses, supported by a year-round right-of-way maintenance program, an outage management mapping system used for storm pre-positioning, and three physical offices (Laurens headquarters, Mauldin drive-through, Joanna) plus an online portal, the LEC Connect mobile app, and 24/7 automated phone payment.
The product portfolio extends well beyond commodity distribution. Core account services include multiple billing options (E-Billing, SimplePay, AveragePay levelized billing, EasyPay pay-as-you-go, FlexPay). Energy programs span electric vehicle incentives, smart thermostat rebates, Energy Star rate schedules, geothermal systems, residential solar advisory and interconnection, battery storage interconnection, surge protection, BPI-certified home energy audits, and a Beat the Peak demand response program. The cooperative also launched a community solar subscription product — members buy kW units and receive a 10¢/kWh bill credit over a 20-year term — and resells partner services including EMC Security (ProTec) home security and HomeServe home warranty plans.
Commercially, Laurens Electric earns revenue primarily through subscription/recurring monthly electric distribution charges, with demand-based billing (15-minute average peak demand) for commercial accounts. The cooperative recently returned $1.5 million in Capital Credits patronage refunds to members and received a $134.1 million USDA infrastructure loan in December 2024 to support grid investment. The 20-year Integrated Resource Plan (January 1, 2021 – December 31, 2040) guides long-term supply- and demand-side resource decisions. Member engagement is reinforced by a community program suite (Cooperative Caring utility assistance, Community Impact Initiative grants up to $2,000, Pay It Forward employee giving of $500/month, WIRE women's organization, Washington Youth Tour scholarships) and the cooperative has earned consecutive ACSI Customer Satisfaction Awards (2023, 2025).
Laurens Electric Cooperative firmographics
Firmographics- Name
- Laurens Electric Cooperative
- Legal name
- Laurens Electric Cooperative, Inc.
- Website
- https://laurenselectric.com
- Company type
- Private
- Founded year
- 1939
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Ownership category
- akta.pro rank
Laurens Electric Cooperative industry classification
Industry- Product category
- Electric Utility Distribution
- NAICS
- Electric Power Generation, Transmission and Distribution (2211), Electric Power Transmission, Control, and Distribution (22112), Electric Power Distribution (221122)
- SIC
- Electric Services (4911)
- akta.pro primary industry
- Electric Cooperatives (Rural/Member-Owned Utilities) (EUADABAC)
- akta.pro secondary industries
- Retail Electric Providers / Competitive Distribution Utilities (where applicable) (EUADABAE), Distributed Generation (DG) Solar & Small Wind (EUAMAJAD), Demand Response & Load Flexibility Services (EUAMAJAF), Renewable Distributed Generation (Rooftop/Onsite Solar, Small Wind, Small Hydro) (EUACALAJ)
Keywords
Where Laurens Electric Cooperative is headquartered
LocationHeadquarters
- HQ city
- Laurens
- HQ country
- United States
- HQ region
- North America
Offices3 records
Markets served
Laurens Electric Cooperative business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Infrastructure, Supply Chain, Personnel, Operations, Marketing or Sales
Revenue model
- Residential Electric Service: Monthly electricity distribution service to residential members, with various billing options including standard billing, levelized billing, and pay-as-you-go.
- Commercial Electric Service: Electric distribution service for commercial customers with demand-based billing based on 15-minute average peak demand.
- Community Solar Program: Members subscribe to kW units from community solar farm for 20-year term. Pay upfront ($50/kW) and monthly ($14/kW), receive 10 cents/kWh credit on bills. First come, first served basis with 5 kW maximum per member.
- Capital Credits: Returning $1.5 million in Capital Credits to members. Members are owners and receive patronage refunds based on their usage.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Community Solar Subscription - per kW unit pricing |
| Subscription | Monthly | E-Billing - Paperless billing notification |
| Subscription | Monthly | SimplePay - Bank draft/automatic payment |
| Subscription | Monthly | AveragePay - Levelized billing |
| Usage-based | Pay-as-you-go | EasyPay - Pay as you go |
| Subscription | Monthly | FlexPay - Social Security/Disability billing |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels5 records
Laurens Electric Cooperative product offering
Product offeringCore offering
Laurens Electric Cooperative is a member-owned electric distribution utility that delivers electricity to residential, commercial, and industrial members across seven counties in upstate South Carolina. The cooperative supplies power sourced from wholesale partner Central, manages local distribution infrastructure, and offers members a suite of energy programs (community solar, EV chargers, geothermal, smart thermostats, rebates, home energy audits), billing options, and community assistance programs, while returning capital credits to members.
Product overview
Laurens Electric Cooperative is a member-owned electric utility offering a comprehensive portfolio of energy services organized around four pillars: (1) Core Account Services including My Account portal with multiple billing options (E-Billing, Simple Pay, AveragePay, EasyPay, FlexPay) and the LEC Connect mobile app; (2) Energy Programs encompassing EV charging, smart thermostats, rebates, generators, geothermal, solar with community solar subscriptions, battery interconnection, surge protection, home energy audits, and the Beat the Peak demand response program; (3) Outage & Safety Services providing outage center, storm management, critical needs registry, and commercial demand/power factor education; and (4) Community Programs including Cooperative Caring assistance, Community Impact Initiative grants, Pay It Forward employee giving, WIRE women's organization, and Washington Youth Tour scholarships. The cooperative also offers partner services for home security (EMC Security) and home warranty (HomeServe) and returns capital credits to members.
Differentiator
Problem solved
Functional benefit
Brands
- Co-op Connections: A member discount program offering savings on products and services from participating local and national businesses, including pharmacy discounts.
- Touchstone Energy
- LEC Community Solar
- Beat the Peak
- Pay It Forward
- WIRE (Women Involved in Rural Electrification)
Products and services
- My Account (Online Account Management)
- Billing & Payment Options
- Commercial Services
- Outage Center
- Right of Way Program
- Community Solar
- Electric Vehicles & Chargers
- Smart Thermostat Program
- Home Rewards Rebates
- Generator Program
- Energy Star Rate Schedule
- Geothermal Program
- Solar & Battery Interconnection
- Surge Protection
- Home Energy Audit
- Beat the Peak (Peak Demand)
- LEC Connect Mobile App
- Capital Credits
- Home Security (ProTec Security)
- Home Warranty
Quantifiable outcome
- Substantially outperforms industry average score earned by publicly measured utilities in 2023 ACSI Energy Utility Study
Companies that use Laurens Electric Cooperative
Customer profileNamed customers2 records
Segments1 record
Ideal customer profiles2 records
Laurens Electric Cooperative technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Laurens Electric Cooperative partnerships and signals
Strategic signalPartnerships
Twelve partnerships are on record, tiered core and minor.
- Central (Power Supply Cooperative)coreCentral is the wholesale electric generation and transmission cooperative that supplies power to Laurens Electric. The integrated resource plan is a collaborative process between Central and its member-cooperatives. Central's power supply department is responsible for resource planning.
- HomeServeminorLaurens Electric partnered with HomeServe to offer home repair plans to eligible members, including appliance repair and heating/cooling system coverage.
- EMC SecurityminorLaurens Electric partnered with EMC Security to provide security solutions including security systems, monitoring service, remote system control, home automation, video monitoring, and medical alert services.
- Touchstone EnergycoreLaurens Electric is a Touchstone Energy cooperative, participating in the Co-op Connections program that provides discounts on products and services from participating local and national businesses, including pharmacy discounts nationwide.
- Co-op ConnectionsminorProgram provides discounts on products and services from participating local and national businesses. FREE to all members with no annual fees.
- Palmetto Economic Development CorporationminorPromotes South Carolina's industrial advantages and strategic location for new industry and expansions, providing professional industrial site location counseling confidentially and cost-free.
- The Upstate AllianceminorPublic/private regional economic development organization marketing the 10-county Upstate region. Formed in 2000 with state-of-the-art infrastructure to implement regional economic development strategy.
- Greenville Area Development CorporationminorPromotes and enhances economic growth of Greenville County as single source contact for economic development, coordinating with community-based resources dedicated to economic development.
- Laurens County Development CorpminorDevelops industrial sites, parks, and buildings meeting variety of needs. Region is hub of manufacturing and research. Manages four industrial parks, numerous rail-served sites, and 32,000 sq-ft spec building.
- WIRE (Women Involved in Rural Electrification)coreStatewide community service organization established in 1981 through Electric Cooperatives of South Carolina. Motto 'People Helping People.' Laurens Electric's chapter hosts Christmas Angel Tree, works with United Way for senior programs.
- Center for Community ServicesminorPartners with Laurens Electric to distribute Cooperative Caring funds to member families in need in Greenville, Spartanburg and Anderson counties for utility bill assistance.
- Laurens Baptist Crisis CenterminorPartners with Laurens Electric to distribute Cooperative Caring funds to member families in need in Laurens, Union, Newberry and Abbeville counties for utility bill assistance.
Scale indicators4 records
Recent moves6 records
Expansion highlights5 records
Laurens Electric Cooperative competitors and assessment
Company assessmentBroad incumbents
- Dominion Energy South Carolina: Investor-owned utility with significant South Carolina operations, overlapping portions of Laurens Electric's broader market. Provides comparable retail electric service in regulated IOU framework, competing for large commercial and industrial customers in the region.
- Duke Energy Carolinas: Large investor-owned utility serving the same upstate South Carolina region with overlapping retail electric service. Operates as a regulated IOU rather than cooperative, but competes for commercial/industrial load and residential service in counties adjacent to Laurens Electric's territory.
Direct peers
- Mid-Carolina Electric Cooperative: Touchstone Energy electric cooperative in the South Carolina cooperative network, sharing the same wholesale power supply (Central) and overlapping service territory with Laurens Electric. Directly comparable cooperative business model and member-owned structure.
- Santee Electric Cooperative: South Carolina electric cooperative serving residential and commercial members with similar community solar, energy efficiency, and demand response programs. Comparable in scale, member-owned model, and rural service territory economics.
- Newberry Electric Cooperative: Electric cooperative serving Newberry County in South Carolina, overlapping with Laurens Electric's service area. Direct peer in the SC cooperative network, comparable in scale, member model, and Central wholesale supply relationship.
- Berkeley Electric Cooperative: South Carolina Touchstone Energy electric cooperative serving the Lowcountry region with comparable residential, commercial, and renewable program offerings. Direct peer in the statewide SC cooperative network.
- Blue Ridge Electric Cooperative: Member-owned electric cooperative serving adjacent upstate South Carolina territory. Operates the same Touchstone Energy cooperative model, offering residential, commercial, and community solar programs directly comparable to Laurens Electric.
- Aiken Electric Cooperative: South Carolina member-owned electric cooperative with comparable residential, commercial, and renewable program offerings. Direct peer operating under the same Touchstone Energy brand and SC cooperative governance framework.
- Palmetto Electric Cooperative: Member-owned Touchstone Energy cooperative in South Carolina's coastal region, offering similar residential billing options, renewable energy programs, and community benefit programs. Direct peer under the same statewide cooperative umbrella.
Others
- Central Electric Power Cooperative: Wholesale generation and transmission cooperative that supplies Laurens Electric's power. Not a direct peer in retail distribution, but is the upstream supplier and integrated resource planning partner for Laurens and other SC distribution cooperatives.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
Laurens Electric Cooperative social profiles
Digital presenceLaurens Electric Cooperative financial estimates
Financial estimateRevenue estimate
Valuation estimate
Laurens Electric Cooperative leadership team
Management profileNumber of profiles
Laurens Electric Cooperative funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Laurens Electric Cooperative M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Laurens Electric Cooperative
What does Laurens Electric Cooperative do?
Laurens Electric Cooperative is a member-owned electric distribution utility that delivers electricity to residential, commercial, and industrial members across seven counties in upstate South Carolina. The cooperative supplies power sourced from wholesale partner Central, manages local distribution infrastructure, and offers members a suite of energy programs (community solar, EV chargers, geothermal, smart thermostats, rebates, home energy audits), billing options, and community assistance programs, while returning capital credits to members.
Is Laurens Electric Cooperative a public or private company?
Laurens Electric Cooperative is a private company. It is classified as nonprofit foundation owned and is currently operating.
When was Laurens Electric Cooperative founded?
Laurens Electric Cooperative was founded in 1939. It employs 101 to 250 people.
Where is Laurens Electric Cooperative based?
Laurens Electric Cooperative is headquartered in Laurens, United States, in the North America region.
How does Laurens Electric Cooperative make money?
Four revenue lines are on record. Residential Electric Service is the primary driver. The others are commercial Electric Service, community Solar Program and capital Credits.
Who are Laurens Electric Cooperative's main competitors?
Broad incumbents on record are Dominion Energy South Carolina and Duke Energy Carolinas. Direct peers are Mid-Carolina Electric Cooperative, Santee Electric Cooperative, Newberry Electric Cooperative, Berkeley Electric Cooperative, Blue Ridge Electric Cooperative, Aiken Electric Cooperative and Palmetto Electric Cooperative. Central Electric Power Cooperative is listed as an others.
Does Laurens Electric Cooperative have an API?
No public API is recorded for Laurens Electric Cooperative.
What industry is Laurens Electric Cooperative in?
Laurens Electric Cooperative's product category is Electric Utility Distribution. Its primary akta.pro industry code is EUADABAC, Electric Cooperatives (Rural/Member-Owned Utilities), with a secondary code of EUADABAE, Retail Electric Providers / Competitive Distribution Utilities (where applicable). Its NAICS code is 2211 and its SIC code is 4911.