PDEC s Annual Meeting

Transcription

1 Co-opConnection PDEC s Annual Meeting A chance to celebrate being local President and CEO Brian Kelley Chairman, Board of Trustees James A. Goodson Trustees Jule Conner Preston Gainey, Vice-Chairman David Howell Louise Kelley, Secretary/Treasurer Hamer Parnell W. F. Rogers LaShon Sellers Don Teal Pat Thomas-Toney, Chaplain Lee C. White Office Hours 8 a.m. 5 p.m. Monday Friday Corporate Headquarters 1355 East McIver Road PO Box 491 Darlington, SC District Office 1811 North 501 Bypass Marion, SC Report Power Outage Toll-Free (866) Website PeeDeeElectric.com Co-op News Editor Tom Kinard Pee Dee Electric Cooperative is an equal opportunity provider and employer. It s been mentioned in the last two South Carolina Living magazines, and you ll read about it on many pages of this edition: the 76th Annual Meeting of Pee Dee Electric Cooperative. PDEC, along with the other 19 electric distribution cooperatives in South Carolina and the rest of the 903 electric co-ops nationwide, are all private, independent, non-profit electric utility businesses. We are owned by the members we serve. If you get your energy from PDEC, you are a member, you have a vote, and you are an owner of the cooperative. Other facts about cooperatives: we re incorporated in the states in which we serve (we were incorporated in South Carolina in 1939), we were established to provide at-cost electric service, and (this is a very big AND) we are governed by a Board of Trustees elected from the membership. The Board sets policies and procedures that are implemented by the co-op management for the good of the members. Pee Dee Electric Cooperative and our counterparts across the country not only provide high-quality electric service to our members, but we are deeply committed to our communities. We empower our members to improve the quality of their lives through economic and business development, education resources and a variety of other needs and services. We work for you every day; rain or shine, hot or cold, weekdays or weekends. Even on holidays, we have emergency crews standing by for you. We support local activities. This means PDEC employees see members in the grocery store, at church, at school functions, because our kids go to class with your kids, at restaurants, baseball games, concerts, stores or even enjoying a local park. You are local. We are local. It s been this way for 76 years. Let s celebrate on Saturday, Oct. 24, at the Florence Civic Center. Please bring your unique registration ticket. You ll find it on the front page of this magazine. There s a schedule of events on the inside back cover. Health Fair, Entertainment and Prizes info is on the next page. See you there! Brian Kelley President and CEO Jeff Lee 4 SOUTH CAROLINA LIVING October 2015 scliving.coop

2 News Pee Dee Electric Cooperative 2015 Annual Meeting Registration Gift $20 PEE DEE ELECTRIC CO-OP Energy Voucher Saturday, October 24 Florence Civic Center Health Fair by GRAND PRIZE 2010 GMC CANYON 4x4 CREW CAB must be present to win truck! THE MEN OF DISTINCTION!! 50/50 DRAWING 50 DOOR PRIZES BONUS PRIZES Registration 9 am-12 noon, Health Fair 9 am-11:30 am, Business Session 12 noon Be sure to bring your registration ticket from the front of this magazine! scliving.coop October 2015 SOUTH CAROLINA LIVING 5

3 PDEC 15Cap credit rewards 8.375x qxp_Layout 1 9/1/15 12:48 PM Page 1 Membership has its Privileges You don t have to be a: Stockholder Frequent Flyer or Preferred Shopper all you need is to be a member of Pee Dee Electric Cooperative. Your awards program is simple! We provide reliable power at the best possible price AND we give you money back! The first of October, Pee Dee Electric Cooperative returned more than $3 million to people who were memberowners and received service in 2002, 2003 and Credits are remaining funds after expenses are paid. And it s only one of the advantages of being a Pee Dee Electric Cooperative member-owner. Members who received amounts less than $50 will see their credit as a line item on their bill. Other member services include: Convenient Payment Options H2O Select Dual Fuel ERC Loans Youth Programs Toll Free: PeeDeeElectric.com scliving.coop October 2015 SOUTH CAROLINA LIVING 20A

4 2015 Annual Meeting October 24 As a member of Pee Dee Electric Cooperative, you have an opportunity not available to consumers of other types of utilities your Annual Meeting. It s held so you and your fellow members can vote for your Trustees, learn more about your cooperative and, perhaps, win a nice prize. The meeting is Saturday, Oct. 24, at the Florence Civic Center. Please plan on attending. Health Fair by McLeod Health and information booths will be available. The Men of Distinction will entertain and don t forget the prize drawings held after the business meeting. Please look for more information on the official notice attached to this magazine. Be sure to bring your registration slip. When you register, you ll receive a $20 energy voucher. This is PDEC s 76th Anniversary, and four Trustee seats are up for re-election. The Candidates Incumbent Trustees Hamer Parnell (1), David Howell (2), James Goodson (8) and Buster Rogers (10) have been nominated by the Nominating Committee. With no opposition, they will be re-elected by acclamation. Please make every effort to attend your Annual Meeting. Registration and the Health Fair begin at 9 a.m. The Men of Distinction at 11 a.m., the Business Meeting at 12 Noon. Prize Drawings follow. District 1 District 2 District 8 District 10 Hamer Parnell David Howell James Goodson Buster Rogers A Board member since 1997 (18 years), Parnell holds the Credentialed Cooperative Director and Board Leadership certificates. He presently serves on the PDEC Executive Committee and is a Central Electric Power Cooperative Trustee. An active member of Lamar United Methodist Church, Parnell is retired from Sonoco Products Co. with 37 years service. Howell was first elected to the Board in During his nine years of service, he has earned the Credentialed Cooperative Director and Board Leadership certificates. He is on the Executive Committee of the S.C. Trustee Association. A Deacon at Mt. Elon Baptist Church, he also is the assistant Youth Teacher. Howell is a farmer and the father of three children. A Board member since 2000 (15 years), Goodson holds both the Credentialed Cooperative Director and Board Leadership certificates. He is Chairman of the Pee Dee Electric Cooperative Board of Trustees and serves on the PDEC Executive Committee. A graduate of Clemson University, Goodson is employed by R. E. Goodson Construction Company, Inc. For the past eight years, Rogers has served on the Board of Trustees at Pee Dee Electric Cooperative. He is a Credentialed Cooperative Director and holds a Board Leadership Certificate. He is a retired Electrical and Instrument Supervisor after 37 years with E. I. du Pont de Nemours and Company. Educated at Wingate College, Rogers is a Trustee at Fork Baptist Church. 20B SOUTH CAROLINA LIVING October 2015 scliving.coop

5 Summary of Operations ANNUAL REPORT TO MEMBERS Ending December 31, 2014 System Statistics Number of Meters Connected KWH Sales Peak KW demand Average Residential KWH per month Average Residential Bill per month Miles of Line Number of Employees , ,788,766 HOW YOUR DOLLARS WERE SPENT IN 2014 MARGINS TO TAXES MEMBERS 3.2% 8.4% INTEREST 2.8% 189,399 1,311 $ , REVENUES Residential Sales Commercial Sales Other TOTAL OPERATING REVENUE OPERATIONS EXPENSE Cost of Wholesale Power Operations & Maintenance Administration, General & Other Depreciation Interest Taxes TOTAL EXPENSE MARGINS Operating Margins Net Non-Operating Margins Capital Credits from Associated Organizations TOTAL MARGINS ASSETS Cash Temporary Investments Net Accounts & Notes Receivable Other Current & Accrued Assets Total Electric Plant Depreciation Other Property & Investments TOTAL ASSETS 2014 $ 59,226,849 22,648,783 1,246,576 $ 83,122,207 54,473,918 5,377,637 7,874,114 4,910,845 2,334,936 2,714,605 $ 77,686,055 5,436,152 1,228, ,437 $ 7,078,003 52,361 14,305,399 7,656,006 18,235, ,322,583 (61,102,152) 19,894,968 $ 154,364,600 DEPRECIATION 5.8% OPERATIONS, MAINTENANCE & GENERAL EXPENSE 15.6% WHOLESALE POWER 64.3% EQUITIES Patronage Capital Other Equities TOTAL EQUITIES LIABILITIES Long Term Debt Accounts Payable Other Current & Accrued Liabilities TOTAL LIABILITIES 64,605,527 4,411,382 $ 69,016,909 70,356,287 5,131,614 9,859,790 $ 85,347,691 TOTAL EQUITIES & LIABILITIES $ 154,364, % scliving.coop October 2015 SOUTH CAROLINA LIVING 20C

6 You PDEC s line crews are trained to restore power as quickly and safely as possible after a storm or other event where you lose electricity to your home or business. They also build new services, install underground wiring and many other things to keep the power flowing. Safety is uppermost in all their minds. Each member of each crew is certified in CPR and First Aid. You do have friends in high places. These guys keep nearly 3,000 miles of line humming with the energy to keep your homes comfortable, charge your phones and even bake a birthday cake for grandma. Have Friends in High Places Tom Kinard 20D SOUTH CAROLINA LIVING October 2015 scliving.coop