Laurens Electric Cooperative

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).

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

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

• Electric distribution services
• Rural electric cooperative
• Residential electricity supply
• Energy efficiency programs
• Community solar subscription

Headquarters

HQ city

Laurens

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Infrastructure, Supply Chain, Personnel, Operations, Marketing or Sales

Revenue model

1. Residential Electric Service: Monthly electricity distribution service to residential members, with various billing options including standard billing, levelized billing, and pay-as-you-go.
2. Commercial Electric Service: Electric distribution service for commercial customers with demand-based billing based on 15-minute average peak demand.
3. 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.
4. Capital Credits: Returning $1.5 million in Capital Credits to members. Members are owners and receive patronage refunds based on their usage.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core 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

Named customers2 records

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Twelve partnerships are on record, tiered core and minor.

• Central (Power Supply Cooperative)coreStrategic or Co-development PartnerCentral 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.
• HomeServeminorGTM or Marketing PartnerLaurens Electric partnered with HomeServe to offer home repair plans to eligible members, including appliance repair and heating/cooling system coverage.
• EMC SecurityminorGTM or Marketing PartnerLaurens 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 EnergycoreOthersLaurens 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 ConnectionsminorOthersProgram provides discounts on products and services from participating local and national businesses. FREE to all members with no annual fees.
• Palmetto Economic Development CorporationminorStrategic or Co-development PartnerPromotes 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 AllianceminorStrategic or Co-development PartnerPublic/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 CorporationminorStrategic or Co-development PartnerPromotes 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 CorpminorStrategic or Co-development PartnerDevelops 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)coreOthersStatewide 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 ServicesminorOthersPartners 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 CenterminorOthersPartners 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

Broad 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

• YouTubeyoutube.com/user/LaurensElectric
• Facebookfacebook.com/LaurensElectric
• LinkedInlinkedin.com/company/laurenselectric
• Instagraminstagram.com/laurenselectric
• Xx.com/LaurensElectric

Revenue estimate

Valuation estimate

Number of profiles

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 Laurens Electric Cooperative