Annual Meeting 2017
|It was hard to tell who was more popular at the Annual Meeting, Solar Same or A.J. Pocheco, who drew the names of all the prize winners. To view more photos, visit our Facebook album.|
On a brisk and windy May 6, 1,091 Broad River Electric members gathered for our 2017 Annual Meeting of Members. The meeting was filled with activities, informative opportunities, music and food. The meeting also provided our members the occasion to meet our staff and visit with our Board of Trustees. During the meeting, Anita Whitney, E. Dewitt McCraw and Bobby L. Foster were all re-elected to serve another term on the Broad River Electric Board of Trustees.
Normally, Chairman Norris R. Fowler, Jr. begins the business meeting with his thoughts on the previous year and his vision for the future of Broad River Electric; however, this year, Mr. Fowler was being inducted into the S.C. Polled Hereford Association’s Hall of Fame at Clemson University. In his absence, he shared his thoughts via a prerecorded video. Referring to the new solar community array he stated, “Our Board of Trustees had ideas for a new vision, something that doesn’t just end with solar, but is symbolic for the future and training our youth.” He also recognized the value of Broad River Electric’s participation in economic development activities to “secure a large customer base in the industrial area.” Everyone at the meeting missed Mr. Fowler’s presence, but we congratulate him on his accomplishment.
For our members who were unable to attend our Annual Meeting, a recap of our 2016 accomplishments are highlighted below:
- 2016 did not have a rate increase and we do not anticipate a rate increase in 2017.
- The Board of Trustees took action to maintain and improve our financial strength while minimizing the impact of future cost increases. The results of these actions are an equity position of 25.8 percent, meaning our members have $27 million in equity invested in your co-op.
- $790,000 was returned to members in the form of capital credits in December 2016.
- Broad River Electric’s membership grew 2 percent during a time many utilities are experiencing zero growth.
- For the second year in a row, Broad River Electric has been awarded the President’s Safety Award, and to date, our staff has worked 353,000 hours without a recordable accident.
- Through economic development efforts, Broad River Electric, in partnership with community leaders, attracted Dollar Tree and Rite Aid to our service territory bringing 1,000 job opportunities to our members. Additionally, the Sunny Slope property will soon have sewer capabilities and improve its potential for industrial development. In 2017, we will energize the Gestamp facility in Union County and look forward to continuing to bring additional development opportunities to the area.
- For our efforts in economic development, we were recognized by Spartanburg Community College as a 2017 Economic Visionary winner.
As you can see, 2016 was a successful and productive year for your cooperative, and this success is attributable to your continued support.
The Board of Trustees, the staff of Broad River Electric and I look forward to serving you in the upcoming year.