We are blessed to work at Palmetto Electric. It is a great organization that cares about its members and employees, and prides itself upon providing quality service while giving back to the communities we serve.
Last year, the Palmetto Electric Trust (PET), through our Operation Round Up program, awarded more than $497,000 in donations to individuals in need and organizations in our community. PET’s annual report reflects well on the volunteer board and on the members who support Operation Round Up.
Palmetto and its employees, meanwhile, pledged more than $32,000 to United Way of the Lowcountry in 2015. This is an all-time high and it shows how much co-op employees care about our friends and neighbors.
A benefit of membership
Palmetto members are now benefiting from a lower power cost factor (PCF). The PCF is a monthly charge on co-op bills that is tied to the varying cost of wholesale power we purchase. When the cost of power is greater than the amount included in the base rate, the PCF is an additional charge. When the cost is less, the PCF is a credit.
Fuel costs are approximately 50 percent of Palmetto’s total wholesale power costs. The costs for natural gas and coal have been declining over the past year. The PCF allows Palmetto Electric to keep members’ monthly rates consistent rather than changing every time the cost of energy varies. It is good that we can pass on lower power costs to our members. It’s another way members benefit from being part of a not-for-profit cooperative.
Coming soon: Community solar
We’re excited to announce that Palmetto Electric will construct a community solar farm this year. Members will be able to purchase locally generated solar power. As this project further develops, details will follow.
We are looking forward to an exciting 2016! Thanks for your continued support.
Click here to learn how you can make a differece through Operation Round Up.