Palmetto Electric Cooperative

About Palmetto Electric Cooperative

Palmetto Electric Cooperative provides electricity to 3 counties in South Carolina including counties like Beaufort County, Jasper County, and Hampton County. The company is an electricity cooperative. Recently filed reports by the company showed a customer base of 79,253 customer accounts. Exactly 26 of these are industrial accounts, 11,454 are commercial customer accounts and 67,773 are residential customers. Palmetto Electric Cooperative's average residential electricity price per kilowatt hour is 12.50 cents per kilowatt hour. Fortunately for their consumers, this rate is lower than both the South Carolina and the United States average rates of 13.66 and 15.76 cents per kilowatt hour, respectively. A total of 1,493,151 megawatt hours were sold via retail sales in 2022 by the supplier. The electricity sourced consisted of megawatt hours purchased by way of the wholesale electricity market. They purchased 1,572,574 wholesale megawatt hours. The total revenue for the company in 2022 from electricity sales was $178,806,000, with 96.97% coming from retail sales to end users.

The average residential power bill for a customer of Palmetto Electric Cooperative is $147.84 per month, while the nationwide average is $137.33. The supplier currently does not produce any of the electricity that they sell. Instead, they must purchase that electricity at wholesale prices from other providers and then resell it to end users. The power grid managed by the provider experiences 0.54 outages per consumer a year, with outages lasting an average of 29.31 minutes. The national average for other companies is 1.45 outages per customer and 171.11 minutes each outage.