Horry Electric Cooperative Inc

What Horry Electric Cooperative Inc does

Horry Electric Cooperative, Inc. is a non-profit, member-owned electric distribution cooperative headquartered at 2774 Cultra Road in Conway, South Carolina, serving members across Horry County since its organization on April 25, 1940, with the system energized on January 7, 1941. It distributes electricity to residential, commercial, agricultural (irrigation and tobacco barns), educational (schools), and religious/nonprofit (churches and community centers) members through owned infrastructure — substations, distribution lines, and solid-state digital meters read daily via substation communications — with two physical offices (Conway headquarters and Socastee) and digital self-service channels (MyEnergy online portal, HEC Mobile App, MyOutage text alerts, and an interactive Outage Viewer map).

The cooperative's core product is electric service, billed through post-pay monthly subscriptions, advance prepay models with daily charging, or equal-pay budget billing, with revenue components including account charges, energy charges (kWh), and peak charges tied to time-of-use windows (Summer 3-6 p.m.; Winter 6-9 a.m.) restructured in October 2024. Adjacent offerings include Community Solar subscriptions (240 kW farm, $100 upfront plus $15/month per block), ecobee smart thermostats at member-discounted prices, Surge Guard meter-base protection ($5.35/month), residential and commercial outdoor lighting, and C&I LED rebates covering up to 50% of project costs. Go-to-market is direct-to-consumer across the Horry County territory, supplemented by sales-led support from energy advisors and account representatives for commercial and contractor/developer requests. The cooperative is governed by a nine-member elected board of trustees, operates under Touchstone Energy cooperative values, participates in Central Electric Power Cooperative's statewide power planning, and returns excess revenues to member-owners as capital credits rather than to external shareholders.

Name

Horry Electric Cooperative Inc

Legal name

Horry Electric Cooperative, Inc.

Website

https://horryelectric.com

Company type

Private

Founded year

1940

Operating status

Operating

Headcount range

51–100 employees

Short description

Horry Electric Cooperative, Inc. is a non-profit, member-owned electric distribution cooperative serving residential, commercial, agricultural, and institutional members across Horry County, South Carolina with time-of-use rates, community solar, smart thermostats, and digital self-service tools.

Ownership category

akta.pro rank

Headquarters

HQ city

Conway

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Infrastructure, Supply Chain, Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Residential Electric Service: Monthly billing for electric consumption with post-pay or advance pay options. Revenue based on account charge, energy charge (kWh), and peak charge (highest 1-hour kW during peak hours).
2. Commercial Electric Service: Billing for general service, solar, and large power commercial accounts. Components include account charge, energy charge, peak charge, and wholesale power cost adjustment (WPCA).
3. Residential Solar Interconnection: Members with rooftop solar can sell excess power back to the cooperative at agreed prices. $100 interconnection application fee for residential systems.
4. Community Solar Subscriptions: Members subscribe to blocks of solar power at $100 upfront per block and $15/month per block, receiving monthly kWh credits averaging 150 kWh per block.
5. Surge Guard Protection: Meter base surge suppression device at $5.35/month with 18-month minimum contract, providing protection against voltage surges.
6. Outdoor Lighting: Residential outdoor lighting at $8.50/month on existing pole ($50 one-time fee) or new pole ($300 one-time fee). Cooperative maintains lights at no additional charge.
7. Smart Thermostat Sales: Direct sale of ecobee smart thermostats (Essential $65, Enhanced $115, Premium $165) to members for peak hour management.
8. Service Fees and Deposits: Membership fee ($5), application fee ($10), connect fee ($20), security deposits ($200 or double highest monthly bill), and reconnection fees ($40, plus $25 weekend fee).
9. CNB Loan Program Referral: Partnership with Conway National Bank for energy-efficient home improvement loans. Cooperative earns referral value from financing arrangements.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels11 records

Core offering

Horry Electric Cooperative distributes electricity to residential and commercial members across Horry County, South Carolina through owned substations, distribution lines, and digital meters. It complements core electric service with outdoor lighting, solar programs (rooftop interconnection and a 240-kW Community Solar Farm), energy-efficiency offerings (ecobee smart thermostats, Surge Guard, C&I lighting rebates), time-of-use Rate Center billing, and capital credits distribution to member-owners.

Product overview

Horry Electric Cooperative, Inc. is a non-profit, member-owned electric utility serving Horry County, South Carolina since 1940. The company operates as a traditional electric distribution cooperative offering core electricity services (residential/commercial electric service, outdoor lighting, meter bases, generators) alongside a portfolio of energy management programs. The product suite includes time-of-use rate structures through the Rate Center, energy efficiency programs (Smart Thermostats, Surge Guard, Community Solar, Energy Saver, CNB Loan Program), digital self-service tools (MyEnergy Online Portal, HEC Mobile App, MyOutage, Outage Viewer, Rate Calculator), and community engagement programs (Bright Ideas Grants, Washington Youth Tour, Cooperative Youth Summit, W.I.R.E., Operation Round Up). The cooperative differentiates through its member-owned structure, returning excess revenues as capital credits, and offering innovative pricing models like Advance Pay prepaid electricity and Equal Pay budget assistance.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• Community Solar farm produces approximately 250 kW per month, equivalent to energy used by 31 average homes
• +3 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles4 records

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Central Electric Power Cooperative, Inc.coreStrategic or Co-development PartnerCentral Electric Power Cooperative, Inc. develops the Integrated Resource Plan on behalf of all 20 South Carolina electric cooperatives including Horry Electric. The IRP is submitted to the South Carolina State Energy Office every three years with reviews in off years.
• Electric Cooperatives of South Carolina, Inc.coreStrategic or Co-development PartnerStatewide organization of member-owned electric cooperatives that publishes South Carolina Living magazine reaching 595,000+ homes monthly. Coordinates youth programs including Washington Youth Tour and Cooperative Youth Summit across all SC cooperatives.
• Touchstone Energy CooperativescoreStrategic or Co-development PartnerNational alliance of local, member-owned electric cooperatives committed to integrity, accountability, innovation, and community commitment. Horry Electric operates under Touchstone Energy brand values and participates in Together We Save initiative.
• Anderson Brothers BankminorChannel Partner/ Reseller/ DistributorAnderson Brothers Bank accepts Horry Electric cash or check payments during regular business hours at Horry County locations.
• Coastal Carolina National BankminorChannel Partner/ Reseller/ DistributorCoastal Carolina National Bank accepts Horry Electric cash or check payments during regular business hours at its Conway branch location.
• ecobeecoreTechnology or IntegrationHorry Electric partners with ecobee to offer smart thermostats (Essential $65, Enhanced $115, Premium $165) at reduced prices to help members manage energy during peak hours. Thermostats available at Conway or Socastee offices.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Berkeley Electric Cooperative: South Carolina electric cooperative serving Berkeley, Dorchester, and Charleston counties. Direct peer: coastal SC cooperative with similar community solar and member programs, also under Central Electric Power Cooperative.
• Mid-Carolina Electric Cooperative: South Carolina electric distribution cooperative serving the mid-Carolina region. Direct peer: similar size and operating model, same Central Electric Power Cooperative upstream relationship.
• Santee Electric Cooperative: South Carolina member-owned electric distribution cooperative serving neighboring counties. Direct peer: same Touchstone Energy affiliation, same member-owned cooperative model, similar residential/commercial distribution focus.
• Blue Ridge Electric Cooperative: South Carolina electric cooperative serving upstate counties. Direct peer: same statewide Touchstone Energy-affiliated cooperative system with similar member programs.
• Pee Dee Electric Cooperative: South Carolina electric distribution cooperative serving the Pee Dee region. Direct peer: same statewide cooperative system, similar residential/commercial rate classes and member service model.
• Palmetto Electric Cooperative: South Carolina electric distribution cooperative serving Beaufort, Jasper, and Hampton counties. Direct peer: same SC co-op network, similar residential and commercial rate structure, also served by Central Electric Power Cooperative. New CEO Reed Cooper previously worked here.

Broad incumbents

• Duke Energy (Carolinas): Investor-owned utility serving North and South Carolina. Broad incumbent: larger scale competitor in adjacent SC service territories, with broader generation/transmission/distribution portfolio but no direct overlap with Horry Electric's franchise.
• Dominion Energy South Carolina: Investor-owned utility operating in South Carolina. Broad incumbent: statewide presence with overlapping service in SC, providing competitive reference for rate structure and AMI deployment in adjacent territories.

Others

• Central Electric Power Cooperative: Generation and transmission cooperative supplying wholesale power to all 20 SC distribution co-ops including Horry Electric. Strategic supplier/partner: develops the Integrated Resource Plan on Horry Electric's behalf and is the upstream wholesale power provider.
• Touchstone Energy Cooperatives: National alliance of member-owned electric cooperatives under which Horry Electric operates. Ecosystem peer: provides shared branding, cooperative principles framework, and the Together We Save national energy efficiency initiative.

Market position

Strengths6 records

Weaknesses5 records

Competitive moat5 records

Customer concentration

• Xx.com/HorryElectric

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds

Investors

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 Horry Electric Cooperative Inc