Berkeley Electric refunds $1.5 million to members
BERKELEY COUNTY, S.C. (WCIV) -- Berkeley Electric Cooperative returned over $1.5million dollars to its members in December, the group announced Tuesday.
The total distribution amount was a little over $1.8 million,which was mailed to the members in early December. The payouts were based on how much the member paid during the year.
The refund also included $645,388.44for deceased patronage, officials said.
"Because we are a cooperative,we don't maximize profits so that dividends can be paid to stockholders, likean investorowned utility," said Wayne DeWitt, BECBoard Secretary/Treasurer. "The coop is owned by its members; thereforeany savings the coop manages to generate belong to the members."