Newberry Electric
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).
- Company typePrivate
- Founded1940
- HeadquartersNewberry, United States
- Headcount1–10
- GTM typeB2B and B2C
- OfferingServices
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.
Newberry Electric firmographics
Firmographics- 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
Newberry Electric industry classification
Industry- 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
Where Newberry Electric is headquartered
LocationHeadquarters
- HQ city
- Newberry
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Newberry Electric business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Supply Chain, Technology or R&D, Marketing or Sales
Revenue model
- 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.
- Fiber Optic Internet Service: Revenue from CarolinaConnect affiliate providing high-speed fiber-optic internet with unlimited data plans to members.
- Outdoor Security Lighting: Monthly fee program for outdoor security lighting fixtures that NEC installs, operates, and maintains. Fee added to electric bill.
- Surge Guard Protection: Low monthly fee for meter-base surge protection device that protects home appliances and electronics from damaging electrical surges.
- Solar Interconnection and Net Metering: Fees for solar generating system interconnection, net metering policies, and Renewable Generation Seasonal Rider (RGS-R) program.
- Capital Credits Retirements: Not-for-profit cooperative returns margins to members through capital credits retirements. In 2025, retired $295,675 in capital credits.
- Convenience Fees: Credit card convenience fees passed to members: $3.95 for transactions up to $300, with tiered fees for larger amounts.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Credit Card Convenience Fee |
| Subscription | Monthly | Online Bill Payment Portal |
| Freemium | Monthly | Mobile App (Newberry Connect) |
| Subscription | Monthly | Outdoor Security Lighting |
| Subscription | Monthly | Surge Guard Protection |
Go-to-market motion2 records
Distribution channels6 records
Marketing channels7 records
Newberry Electric product offering
Product offeringCore 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
Companies that use Newberry Electric
Customer profileNamed customers3 records
Segments3 records
Ideal customer profiles2 records
Newberry Electric technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Newberry Electric partnerships and signals
Strategic signalPartnerships
Nine partnerships are on record, tiered core, major and minor.
- Central Electric Power Cooperative, Inc.coreWholesale 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 TeamcoreUnique 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.coreState 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 DevelopmentmajorLocal 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 CommercemajorState economic development agency partner for business attraction and industrial development in NEC service territory.
- Upstate Business AllianceminorRegional economic development alliance supporting business growth in the Upstate South Carolina region including parts of NEC service area.
- Palmetto Economic DevelopmentminorStatewide economic development organization assisting with business recruitment and expansion in South Carolina.
- CarolinaConnectcoreAffiliate 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)coreNational 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
Newberry Electric competitors and assessment
Company assessmentDirect 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
Newberry Electric social profiles
Digital presenceNewberry Electric financial estimates
Financial estimateRevenue estimate
Valuation estimate
Newberry Electric leadership team
Management profileNumber of profiles
Profiles6 records
Newberry Electric subsidiaries and ownership
Company hierarchySubsidiaries1 record
Newberry Electric funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Newberry Electric 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 Newberry Electric
What does Newberry Electric do?
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.
Is Newberry Electric a public or private company?
Newberry Electric is a private company. It is classified as nonprofit foundation owned and is currently operating.
When was Newberry Electric founded?
Newberry Electric was founded in 1940. It employs 1 to 10 people.
Where is Newberry Electric based?
Newberry Electric is headquartered in Newberry, United States, in the North America region.
How does Newberry Electric make money?
Seven revenue lines are on record. Electric Distribution Service is the primary driver. The others are fiber Optic Internet Service, outdoor Security Lighting, surge Guard Protection, solar Interconnection and Net Metering, capital Credits Retirements and convenience Fees.
Who are Newberry Electric's main competitors?
Direct peers on record are Central Electric Power Cooperative, Aiken Electric Cooperative, Tri-County Electric Cooperative (SC), Mid-Carolina Electric Cooperative, Lee County Electric Cooperative (LCEC), Blue Ridge Electric Cooperative and Laurens Electric Cooperative. Broad incumbents are Duke Energy Carolinas, Santee Cooper (South Carolina Public Service Authority) and Dominion Energy South Carolina.
Does Newberry Electric have an API?
No public API is recorded for Newberry Electric.
What industry is Newberry Electric in?
Newberry Electric's product category is Electric Distribution Utilities. Its primary akta.pro industry code is EUADABAC, Electric Cooperatives (Rural/Member-Owned Utilities), with a secondary code of EUADABAI, Electric Distribution System Owners (Wires-Only Companies). Its NAICS code is 2211 and its SIC code is 4911.