South Plains Electric Cooperative
South Plains Electric Cooperative is a member-owned, not-for-profit electric distribution utility founded in 1937, serving roughly 77,786 meters across 38,000+ residential, commercial, industrial, and agricultural members in 18 West Texas counties covering 6,600 square miles.
- Company typePrivate
- Founded1937
- HeadquartersLubbock, United States
- Headcount51–100
- GTM typeB2C
- OfferingServices
What South Plains Electric Cooperative does
South Plains Electric Cooperative, Inc. (DBA SPEC) is a private, member-owned, not-for-profit electric distribution cooperative founded on March 8, 1937, and headquartered in Lubbock, Texas. It distributes electricity to approximately 77,786 connected meters across 38,000+ residential, commercial, industrial, and agricultural members in 18 West Texas counties (Childress, Cottle, Crosby, Dickens, Floyd, Foard, Garza, Hale, Hall, Hardeman, Hockley, Kent, King, Lamb, Lubbock, Lynn, Motley, and Stonewall), covering roughly 6,600 square miles and 10,120+ miles of distribution line. Its primary customer segments include residential households, commercial businesses (hotels, restaurants, strip malls), industrial operations (oil and gas, cryptocurrency centers), and agricultural producers across the South Plains and Rolling Plains regions.
The cooperative's core technology stack is a traditional electric distribution system augmented by Gridstream smart meters for advanced metering, outage detection, and energy monitoring, alongside an ArcGIS-based service area management system. Member-facing digital services include the SPEC mobile app for outage reporting and account management, an online billing portal with quick pay and prepaid (Co-op Power PrePay) options, text alerts, and social media-based outage communications. Adjacent offerings include solar net-metering guidance, electric vehicle support, capital credit retirement programs, and Operation Round Up community giving.
Commercially, SPEC operates as a rate-regulated, member-owned distribution cooperative rather than a competitive retailer. Its GTM is direct-to-member service across a defined franchise territory, with member acquisition occurring through service-area expansion and member-demographic growth rather than sales-driven acquisition. Revenue is generated through monthly usage-based electric service charges (residential rate of approximately 13.4¢/kWh post-May 2026 versus 15–19¢/kWh for competing Lubbock-area retail providers), and any margins are returned to members as capital credits (over $50 million historically). Marketing is community-focused through Texas Co-op Power magazine, Youth Tour, and 4th Grade Safety Demonstrations rather than traditional sales channels.
South Plains Electric Cooperative firmographics
Firmographics- Name
- South Plains Electric Cooperative
- Legal name
- South Plains Electric Cooperative, Inc.
- Website
- https://spec.coop
- Company type
- Private
- Founded year
- 1937
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- South Plains Electric Cooperative is a member-owned, not-for-profit electric distribution utility founded in 1937, serving roughly 77,786 meters across 38,000+ residential, commercial, industrial, and agricultural members in 18 West Texas counties covering 6,600 square miles.
- Ownership category
- akta.pro rank
South Plains Electric Cooperative industry classification
Industry- Product category
- Electric Utility 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)
- akta.pro secondary industry
- Community Microgrids & Shared Distributed Generation (EUACALAC)
Keywords
Where South Plains Electric Cooperative is headquartered
LocationHeadquarters
- HQ city
- Lubbock
- HQ country
- United States
- HQ region
- North America
Offices6 records
Markets served
South Plains Electric Cooperative business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Infrastructure, Operations, Personnel, Technology or R&D, Marketing or Sales
Revenue model
- Electric Service Revenue: The cooperative generates revenue through electricity distribution services to members. As a not-for-profit cooperative, margins are returned to members in the form of capital credits. The cooperative has returned over $50 million in cash to members historically.
- Capital Credits: Not-for-profit cooperative model where margins beyond expenses are allocated back to members as capital credits, which are eventually retired and returned to members in cash
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Usage-based | Monthly | Residential Service - Average cost per kWh |
| Usage-based | Monthly | Facilities Charge and Minimum Charge |
| Usage-based | Monthly | Rate Comparison |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels6 records
South Plains Electric Cooperative product offering
Product offeringCore offering
South Plains Electric Cooperative is a not-for-profit, member-owned electric distribution cooperative that delivers safe, reliable electric service to over 55,000 connected meters across 18 Texas counties. The cooperative operates 10,120 miles of power lines and offers Gridstream smart metering, solar energy programs, electric vehicle support, prepaid billing, and a mobile app for outage reporting and account management. As a cooperative, margins are returned to members through capital credits, and it operates on democratic member control with a locally elected board of directors.
Product overview
South Plains Electric Cooperative operates as a not-for-profit electric utility providing core electricity distribution services to over 55,000 connected meters across 18 Texas counties. The cooperative offers Gridstream smart metering for advanced energy monitoring, along with add-on programs including solar energy installations, electric vehicle support, and prepaid billing options. Members access services through the SPEC mobile app and online portal for bill payment, outage reporting, and account management. The cooperative differentiates through its member-owned structure, returning capital credits, and community programs like Operation Round Up that fund local scholarships and teacher grants.
Differentiator
Problem solved
Functional benefit
Brands
- Operation Round Up: Community assistance program funded by members rounding their bills to the nearest dollar, providing grants to local communities, scholarships to students, and mini-grants to teachers.
Products and services
- Electric Distribution Service Core electricity distribution service providing safe, reliable electric power to over 55,000 connected meters across 18 counties in Texas, delivered through 10,120 miles of owned power lines.
- Gridstream Smart Meter Program Smart metering system enabling advanced metering infrastructure for real-time energy monitoring, outage detection, and energy management for members.
- Solar Energy Program
- Electric Vehicle Support Services
- Co-op Power PrePay
- SPEC Mobile App
- Outage Reporting and Management
- Electric Service Installation
Quantifiable outcome
- Only 4 rate increases since 2007 despite inflation and infrastructure investment
- +2 more outcomes
Companies that use South Plains Electric Cooperative
Customer profileNamed customers9 records
Segments4 records
Ideal customer profiles4 records
South Plains Electric Cooperative technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
South Plains Electric Cooperative partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core and minor.
- Touchstone EnergycoreSouth Plains Electric Cooperative is a Touchstone Energy Cooperative, a national brand representing electric cooperatives committed to providing reliable, affordable electricity with superior service.
- Golden Spread Electric CooperativeminorDoor prize sponsor for annual membership meetings and contributor to the Mobile Education Trailer for safety demonstrations.
- Texas Electric CooperativesminorDoor prize sponsor and industry association supporting Texas electric cooperatives.
Scale indicators14 records
Recent moves6 records
Expansion highlights5 records
South Plains Electric Cooperative competitors and assessment
Company assessmentDirect peers
- Pedernales Electric Cooperative: Largest electric distribution cooperative in Texas, serving central Texas with a member-owned model and similar Touchstone Energy affiliation. Directly comparable structure, regulatory framework, and product mix.
- Bluebonnet Electric Cooperative: Texas member-owned electric cooperative serving a multi-county territory with residential, commercial, and agricultural members. Closely comparable business model and service area profile.
- CoServ Electric: North Texas electric cooperative serving growing suburban and rural territories. Comparable member-owned distribution model with rapid growth trajectory similar to South Plains.
- Heart of Texas Electric Cooperative: Central Texas electric cooperative operating in a low-density rural footprint similar to South Plains. Same Touchstone Energy brand and member-owned governance model.
- Deep East Texas Electric Cooperative: East Texas distribution electric cooperative serving rural and small-town members with similar residential, agricultural, and small commercial mix.
- Lamar Electric Cooperative: Texas distribution cooperative serving parts of Northeast Texas. Directly comparable rural electric distribution operations and member-owned capital credit structure.
- Bartlett Electric Cooperative: Texas-based distribution electric cooperative serving a multi-county rural territory with comparable member base composition.
- Mid-South Synergy: Texas electric cooperative serving Brazos Valley and surrounding counties with similar growth profile and member-owned distribution model.
Broad incumbents
- Oncor Electric Delivery: Largest electric transmission and distribution utility in Texas. Operates in overlapping regions of Texas, providing transmission and distribution services but as an investor-owned utility rather than member-owned cooperative.
- CPS Energy: Large Texas municipal utility providing vertically integrated electric and gas service. Comparable scale of Texas operations but publicly-owned and non-territorial overlap.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks5 records
Key highlights6 records
Customer concentration
South Plains Electric Cooperative social profiles
Digital presenceSouth Plains Electric Cooperative financial estimates
Financial estimateRevenue estimate
Valuation estimate
South Plains Electric Cooperative leadership team
Management profileNumber of profiles
Profiles13 records
South Plains Electric Cooperative funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
South Plains 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 South Plains Electric Cooperative
What does South Plains Electric Cooperative do?
South Plains Electric Cooperative is a not-for-profit, member-owned electric distribution cooperative that delivers safe, reliable electric service to over 55,000 connected meters across 18 Texas counties. The cooperative operates 10,120 miles of power lines and offers Gridstream smart metering, solar energy programs, electric vehicle support, prepaid billing, and a mobile app for outage reporting and account management. As a cooperative, margins are returned to members through capital credits, and it operates on democratic member control with a locally elected board of directors.
Is South Plains Electric Cooperative a public or private company?
South Plains Electric Cooperative is a private company. It is classified as nonprofit foundation owned and is currently operating.
When was South Plains Electric Cooperative founded?
South Plains Electric Cooperative was founded in 1937. It employs 51 to 100 people.
Where is South Plains Electric Cooperative based?
South Plains Electric Cooperative is headquartered in Lubbock, United States, in the North America region.
How does South Plains Electric Cooperative make money?
Two revenue lines are on record. Electric Service Revenue is the primary driver. The others are capital Credits.
Who are South Plains Electric Cooperative's main competitors?
Direct peers on record are Pedernales Electric Cooperative, Bluebonnet Electric Cooperative, CoServ Electric, Heart of Texas Electric Cooperative, Deep East Texas Electric Cooperative, Lamar Electric Cooperative, Bartlett Electric Cooperative and Mid-South Synergy. Broad incumbents are Oncor Electric Delivery and CPS Energy.
Does South Plains Electric Cooperative have an API?
No public API is recorded for South Plains Electric Cooperative.
What industry is South Plains Electric Cooperative in?
South Plains Electric Cooperative's product category is Electric Utility Distribution Services. Its primary akta.pro industry code is EUADABAC, Electric Cooperatives (Rural/Member-Owned Utilities), with a secondary code of EUACALAC, Community Microgrids & Shared Distributed Generation. Its NAICS code is 221122 and its SIC code is 4911.