Berkeley Electric refunds $1.5 million to members - WCIV-TV | ABC News 4 - Charleston News, Sports, Weather

Berkeley Electric refunds $1.5 million to members

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Dwayne Cartwright, CEO of Berkeley Electric, presents Brantley Thomas, COO of BCSD, with a check for $28,000 as part of the co-op’s Capital Credits refund. Dwayne Cartwright, CEO of Berkeley Electric, presents Brantley Thomas, COO of BCSD, with a check for $28,000 as part of the co-op’s Capital Credits refund.

BERKELEY COUNTY, S.C. (WCIV) -- Berkeley Electric Cooperative returned over $1.5 million 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 $645,388.44 for deceased patronage, officials said.

"Because we are a cooperative, we don't maximize profits so that dividends can be paid to stockholders, like an investor‑owned utility," said Wayne DeWitt, BEC Board Secretary/Treasurer. "The co‑op is owned by its members; therefore any savings the co‑op manages to generate belong to the members."

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