At YEC, that’s not just our job, it’s our everyday mission!
In 1941, YEC was formed by the hardworking citizens of our community to create a member-owned utility that puts people before profit. Seventy-five years later, meeting the needs of our members remains our top priority, as YEC provides dependable and affordable electric service that helps local families and businesses grow and prosper.
For us, our service area is also the place we call home. That’s why you can be assured that, each day of the year, our employees and Board of Trustees are committed to serve and connect with integrity, accountability, innovation and commitment to community. And, our accomplishments this year are a direct result of their hard work and dedication. YEC never falters in serving our members and connecting us all to a higher quality of life.
I am very proud to provide highlights from our 2016 accomplishments, and I look forward to sharing the goals we have set forth for 2017 with you in January’s issue of this magazine.
All of us at YEC wish you and your family a joyful holiday season!
President and Chief Executive Officer
2016 ACCOMPLISHMENTS
Diversified Growth
Our membership has multiplied 100-fold since YEC started in 1941, and we are now the fastest-growing co-op in South Carolina. Seventy-five years ago, your co-op got underway, supplying power to 502 homes and businesses. Earlier this year, we recognized Claudia Mady of Fort Mill for being YEC’s 50,000th account. By year-end, we estimate our accounts will exceed more than 58,000.
Safety First
Safety is paramount at YEC, and I’m proud to announce that, once again, our employees won the statewide safety contest, an honor we have won for numerous years.
Reliability
YEC continued to plan and build for future growth, with the aim that our members will benefit from the improvements we’re making to our system. Construction was completed on YEC’s new South Lancaster 100 KV transmission line and substation located on Highway 75, just off Highway 521, in a fast-growing area of Lancaster County. We’ve also trimmed more right of way and inspected more poles than any year in our history.
These are just a few of many system improvements your cooperative has made so far this year, enabling YEC to provide a higher level of service reliability.
Community Commitment
To help celebrate YEC’s 75th-anniversary milestone, we honored 75 individuals who embody the spirit of the cooperative program through our High Voltage Heroes community initiative.
Since YEC introduced Operation Round Up® in 2000, participating members have contributed $2.3 million for local charities and people in need. By allowing YEC to round up their bills to the next dollar, their average monthly contribution is only about 50 cents. But, coupled with the power of cooperation, their small change makes a big difference right here at home.
In an effort to improve the quality of life by providing jobs and increasing the tax bases for our school districts, YEC played an important role in bringing LPL Financial Carolinas and the Lash Group to Fort Mill in the Kingsley Business Park. These two companies combined bring more than 5,000 jobs to our area with an investment worth nearly $240 million. We’ve also been able to finance two speculative buildings in our service area. By maintaining a low-cost and abundant power supply backed by an active infrastructure and enhanced business-recruitment plan, YEC continues to keep our service area a vital, powerful economic opportunity for business.
Saving Members Money
One of the many benefits of being a member of YEC involves the allocation of excess revenue, called margins, in the form of capital credits. YEC returned $1.2 million, the largest amount in our history, to our members in May.
Power Saver Rewards, our electric load management program, continued to help your cooperative reduce the cost of power and keep members’ bills lower. Participating members allow YEC to install a device on their air conditioner/heat pump to reduce our load at peak times. By doing so, members receive a credit on their power bill.
Our electric rates have slightly decreased this year.
The Co-op Connections® card offers discounts from local, regional and national merchants, and we estimate that YEC’s members will save approximately $70,000 by year-end on prescriptions. The card also offers members significant savings on lab and imaging services, chiropractic, dental, vision and hearing care.
Innovation
In response to member interest, YEC was one of the first utilities in our area to build a community solar farm. It’s located in Rock Hill near our Lesslie substation off Springdale Road. All 50kW of the solar farm have been sold, and we are in the process of looking for a site to construct a second farm.
YEC began evaluating the need for high-speed internet in rural sections of our territory by contacting members to determine their interest in YEC providing this new service.
A pre-paid meter program “Advance Pay”, which allows members to purchase power and track usage in advance if preferred, was implemented.
Related Topics:
High Voltage Heroes
Operation Round Up
Capital Credits
Power Saver Rewards
Co-op Connections
Community Solar