Newberry Electric

What Newberry Electric does

Newberry Electric Cooperative (NEC) is a member-owned, not-for-profit rural electric distribution utility founded in 1940 and headquartered at 882 Wilson Road, Newberry, South Carolina. NEC distributes electricity across an exclusive service territory spanning Fairfield, Laurens, Lexington, and Newberry Counties, serving approximately 9,923 active residential, commercial, and industrial members through 1,629 miles of distribution lines. The cooperative's underlying technology includes overhead and underground distribution infrastructure, substations with SCADA-based supervisory control, load management systems, automated meter reading (AMR), GIS mapping for grid management, and a fiber-optic broadband network. Its industrial load base includes Samsung America, Komatsu America, and Kiswire USA, which were attracted to the area through coordinated economic development partnerships with the Newberry County Economic Development office, SC Department of Commerce, and the SC Power Team alliance of 20 South Carolina cooperatives.

NEC's business model is a cooperative subscription model in which residential, commercial, and industrial members pay recurring monthly electric bills and, as not-for-profit owners, receive capital credits retirements representing margins returned beyond operating costs ($295,675 in 2025). Beyond core electric distribution, NEC operates CarolinaConnect, a wholly-owned affiliate delivering fiber-optic broadband internet using the cooperative's existing network infrastructure. Ancillary recurring revenue streams include outdoor security lighting subscriptions, meter-base surge protection (Surge Guard), solar interconnection and net-metering fees, community solar subscriptions, and credit card convenience fees on payments. GTM is split between field sales/key-account executives serving commercial and industrial customers, community-led economic development to attract new industrial load, and self-service digital channels (SmartHub online portal, Newberry Connect mobile app) supplemented by 24/7 phone support for residential members. The cooperative is governed by a member-elected Board of Directors and is subject to annual ORS Compliance Examination under SC Code Ann Ss 33-49-150a.

Name

Newberry Electric

Legal name

Newberry Electric Cooperative

Website

https://nec.coop

Company type

Private

Founded year

1940

Operating status

Operating

Headcount range

1–10 employees

Short description

Newberry Electric Cooperative is a member-owned, not-for-profit rural electric distribution utility founded in 1940, serving approximately 9,923 residential, commercial, and industrial members across four South Carolina counties through 1,629 miles of distribution lines, and operating a fiber-optic broadband affiliate (CarolinaConnect).

Ownership category

akta.pro rank

Product category

Electric Distribution Utilities

NAICS

Electric Power Generation, Transmission and Distribution (2211), Electric Power Transmission, Control, and Distribution (22112), Electric Power Distribution (221122)

SIC

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

akta.pro primary industry

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

akta.pro secondary industries

Electric Distribution System Owners (Wires-Only Companies) (EUADABAI), Distributed Generation (DG) Solar & Small Wind (EUAMAJAD), Demand Response & Load Flexibility Services (EUAMAJAF)

Keywords

• Electric distribution services
• Rural electric cooperative
• Fiber optic internet
• Surge protection
• Community solar programs

Headquarters

HQ city

Newberry

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Electric Distribution Service: Core revenue from providing electric distribution service to 9,923 residential, commercial, and industrial members. As a not-for-profit cooperative, revenues beyond costs are returned to members as capital credits.
2. Fiber Optic Internet Service: Revenue from CarolinaConnect affiliate providing high-speed fiber-optic internet with unlimited data plans to members.
3. Outdoor Security Lighting: Monthly fee program for outdoor security lighting fixtures that NEC installs, operates, and maintains. Fee added to electric bill.
4. Surge Guard Protection: Low monthly fee for meter-base surge protection device that protects home appliances and electronics from damaging electrical surges.
5. Solar Interconnection and Net Metering: Fees for solar generating system interconnection, net metering policies, and Renewable Generation Seasonal Rider (RGS-R) program.
6. Capital Credits Retirements: Not-for-profit cooperative returns margins to members through capital credits retirements. In 2025, retired $295,675 in capital credits.
7. Convenience Fees: Credit card convenience fees passed to members: $3.95 for transactions up to $300, with tiered fees for larger amounts.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels7 records

Core offering

Newberry Electric Cooperative distributes electricity to residential, commercial, and industrial members across four South Carolina counties (Fairfield, Laurens, Lexington, and Newberry). As a member-owned cooperative, it supplements core electric distribution with fiber-optic broadband internet through its CarolinaConnect affiliate, outdoor security lighting, surge protection, community solar subscriptions, and EV information services for members.

Product overview

Newberry Electric Cooperative operates as a not-for-profit, member-owned rural electric cooperative providing electricity distribution across Fairfield, Laurens, Lexington, and Newberry Counties in South Carolina. The cooperative's product portfolio centers on core electricity service delivery, supplemented by value-added offerings including broadband internet through its affiliate CarolinaConnect (fiber-optic), the Newberry Connect mobile app and SmartHub online portal for account management, outdoor security lighting, surge protection, solar information and interconnection services, community solar subscriptions, and EV information resources. The cooperative also offers business services including energy audits, rate evaluation, and outage assistance for commercial members.

Differentiator

Problem solved

Functional benefit

Brands

• CarolinaConnect: Fiber optic internet service provided through an affiliate company of Newberry Electric Cooperative
• Newberry Connect

Products and services

• Electric Distribution Service Core electric distribution utility service providing reliable electricity to residential, commercial, and industrial member-owners across Fairfield, Laurens, Lexington, and Newberry Counties in South Carolina.

Quantifiable outcome

• Capital credits of $295,675 retired and returned to members in 2025
• +2 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Nine partnerships are on record, tiered core, major and minor.

• Central Electric Power Cooperative, Inc.coreStrategic or Co-development PartnerWholesale electric generation and transmission cooperative headquartered in Columbia, SC. NEC is one of 20 member-owned independent distribution electric cooperatives. Through Central, member cooperatives developed an Integrated Resource Plan detailing energy consumption and peak demand forecasts from 2021 through 2040.
• SC Power TeamcoreStrategic or Co-development PartnerUnique economic development alliance of the state's 20 electric cooperatives. Network provides power to more than 1.5 million South Carolinians. NEC is a proud partner helping attract businesses to the region through competitive rates and reliable service.
• Electric Cooperatives of South Carolina, Inc.coreStrategic or Co-development PartnerState association of electric cooperatives including WIRE (Women Involved in Rural Electrification) founded in 1981. NEC WIRE Chapter established in 1982 serves as charitable arm of the cooperative.
• Newberry County Economic DevelopmentmajorStrategic or Co-development PartnerLocal economic development partnership helping attract businesses to Newberry County. NEC has helped locate Samsung America, Komatsu America, and Kiswire USA to the area.
• SC Department of CommercemajorStrategic or Co-development PartnerState economic development agency partner for business attraction and industrial development in NEC service territory.
• Upstate Business AllianceminorStrategic or Co-development PartnerRegional economic development alliance supporting business growth in the Upstate South Carolina region including parts of NEC service area.
• Palmetto Economic DevelopmentminorStrategic or Co-development PartnerStatewide economic development organization assisting with business recruitment and expansion in South Carolina.
• CarolinaConnectcoreStrategic or Co-development PartnerAffiliate company created by NEC to provide faster, more reliable fiber-optic internet service for members. Based in Lexington, SC, using NEC's high-speed network infrastructure to deliver affordable broadband to rural areas.
• NRECA (National Rural Electric Cooperative Association)coreStrategic or Co-development PartnerNational association providing accreditation programs (Director Gold Certification, Credentialed Cooperative Director Certificate), training, resources, and advocacy for electric cooperatives including NEC.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Central Electric Power Cooperative: Wholesale generation and transmission cooperative headquartered in Columbia, SC. NEC's wholesale power supplier and co-owner alongside 19 other SC distribution cooperatives. Operates the Integrated Resource Planning process that governs how NEC procures its power supply.
• Aiken Electric Cooperative: South Carolina distribution cooperative serving Aiken County and surrounding areas. Directly comparable in member count, line mileage, economic development focus, and reliance on the Central Electric Power Cooperative for wholesale supply.
• Tri-County Electric Cooperative (SC): Member-owned SC electric cooperative in the Upstate. Comparable not-for-profit model, similar customer composition, and part of the same SC Power Team statewide alliance for economic development.
• Mid-Carolina Electric Cooperative: South Carolina distribution cooperative serving rural and suburban members in the Midlands. Similar size, customer mix, and not-for-profit cooperative structure. Strong functional peer for benchmarking operations, AMI deployment, and member services.
• Lee County Electric Cooperative (LCEC): Florida member-owned electric cooperative cited as a prior employer of NEC's incoming VP of Engineering & Operations. Provides a benchmark for distributed energy resource integration, fiber broadband affiliates, and SCADA/AMI deployment at a similar scale.
• Blue Ridge Electric Cooperative: South Carolina electric distribution cooperative (Pickens area) also cited in NEC management team experience as a former contractor relationship. Same not-for-profit cooperative structure, same SC Power Team membership, and serves a similar mix of residential and light industrial members.
• Laurens Electric Cooperative: Neighboring South Carolina member-owned electric distribution cooperative serving residential, commercial, and industrial customers in the Upstate. Cited by NEC's incoming VP Drew Davidson as a prior employer (17 years). Closely comparable in size, governance structure, service mix, and SC Power Team affiliation.

Broad incumbents

• Duke Energy Carolinas: Large investor-owned utility serving the broader Carolinas region including adjacent territories to NEC. Competes implicitly for large commercial and industrial customers; benchmark for AMI, demand response, and grid modernization at massive scale.
• Santee Cooper (South Carolina Public Service Authority): State-owned electric and water utility serving parts of South Carolina including direct industrial customers in NEC's service area. Operates generation, transmission, and distribution at a much larger scale — an incumbent whose wholesale and industrial activities overlap with NEC's territory.
• Dominion Energy South Carolina: Investor-owned utility with electric operations in parts of South Carolina. Overlapping service geography, broader portfolio of generation and T&D assets, and serves as a structural comparator for rate-regulation and capital structure at much greater scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/NewberryCoop
• LinkedInlinkedin.com/company/newberry-electric-cooperative
• Instagraminstagram.com/newberryelectric
• Xx.com/NewberryCoop

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries1 record

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 Newberry Electric