The electricity that powers homes and businesses across coastal Georgia ... where does it come from? Fuel, poles and wire, power plants, solar panels, substations—all those are certainly correct.
Ultimately, power comes from people. People generate the electricity our society relies on every day. And who are these People Behind the Power? Linemen, engineers, system planners, power plant operators. These people make it happen.
But electric cooperative employees aren’t the only ones. The true People Behind the Power sit in your seat at the movie theater, push your cart at the grocery store, turn on your dishwasher and pack your kid’s lunch. They park beside you at the ballpark, run city council meetings and volunteer at the food bank down the street. You—Coastal Electric Cooperative members and owners—are the reason we do what we do. You are our motivation to bring the power that makes coastal Georgia a better place to live. You, your friends, your neighbors ... you are truly the People Behind the Power.
Annual reviews like the one you hold in your hand are, at their core, financial documents, and for good reason. Numbers tell a powerful story about the health and priorities of an organization. But behind every dollar, every chart, every balance sheet, you’ll find people. As an electric co-op, we exist to serve our members. So every decision, every dollar spent and saved, everything we steward, is done with you in mind.
Keep scrolling to learn more about the stories behind the numbers from the past year and how those numbers support our mission to meet or exceed our member-owners’ expectations by being an outstanding provider of energy services.
GROWTH
Growth comes with its share of challenges. However, the more members that settle on our system, the more costs can be shared among the membership, for the good of all. Our system is growing by approximately 600-plus new permanent services each year.
DEMOCRATIC MEMBER CONTROL
Cooperatives are democratic organizations controlled by their members, who actively participate in setting policies and making decisions, according to Cooperative Principle 2. Representatives (in our case, directors) are elected from among the membership and are accountable to the membership. Coastal Electric Cooperative is led by a member-elected board of nine directors, who are also co-op members themselves. Each director serves a three-year term before they are up for reelection to be voted on by their fellow members.
Coastal Electric Cooperative members exercise their member rights to vote every year during Annual Meeting registration and voting. The result? You have a voice in how your cooperative operates and who is making decisions on your behalf. It’s just one benefit of being a member and owner of an electric co-op versus any other type of utility company ... a little something we like to call the cooperative advantage.
- 2,477 members participated in Annual Meeting registration and voting during the three days prior to the 2023 Annual Meeting—the largest number ever participating
- 3 directors were reelected to represent the members of Coastal Electric Cooperative
- 9 directors serve on the Coastal Electric Cooperative board, representing the 4 counties we serve
DIVERSE, RELIABLE FUEL MIX
In July 2023, Vogtle Unit 3 reached commercial operation, marking a historic achievement for the energy industry, Georgia and the entire nation. The existing units at Plant Vogtle—Units 1 and 2— have been providing safe, clean energy for Georgians for more than 34 years. Our investment in the Plant Vogtle construction project is an investment in reliable, emissions-free energy for our members— now and for the future.
We depend on a variety of fuels to generate the electricity that powers life 24/7. Renewable energy sources like wind and solar are key players in our fuel portfolio, but the sun doesn’t always shine and the wind doesn’t always blow. A diverse team of fuels helps ensure our members have electricity whenever you need it.
Coastal Electric Cooperative did not raise rates in response to the Plant Vogtle project in 2023. Our member-elected board of directors and co-op staff planned ahead for the time that Unit 3 would come online and factored the costs into our financial planning.
- 60-80 years of emissions-free nuclear energy
- 1st advanced commercial nuclear project in the United States in more than 3 decades
- 0 rate hikes for Coastal Electric Cooperative to pay for the new Unit 3
SAFETY SAVES LIVES & MONEY
While protecting the safety of employees and the public is the primary goal of workplace safety and training, Coastal Electric Cooperative’s stellar safety record also translates into significant savings for the cooperative and our members.
When an injury does occur, the costs go beyond emergency room visits and doctor appointments. Indirect costs, such as administrative time dealing with the injury, increases in insurance premiums, hiring replacement employees and even loss of reputation can add up to four times the direct cost of the injury.
Without a motivated, trained and effective workforce, considerable extra time and expense would be needed to accomplish our mission. So safety is not only good for co-op employees, but it is also beneficial for co-op members and our community.
- 10 years with 0 fatalities or injuries at all requiring employees to miss work
- 67 employees worked 149,842 hours to serve co-op members
SATISFACTION AT AN ALL-TIME HIGH
In 2023, Coastal Electric Cooperative received its all-time high American Customer Satisfaction Index (ACSI®) score of 90 on a 100-point scale.
The score is among the top three scores earned by energy utility cooperatives participating in measurement for Touchstone Energy in the second quarter of 2023. Touchstone Energy Cooperatives represents a nationwide alliance of more than 700 member-owned electric co-ops across 46 states.
The top five scores in that period ranged from 88 to 92, which compares favorably with electric cooperatives’ annual average score of 74, as reported in the 2022-23 ACSI Energy Utilities Study.
Coastal Electric Cooperative has always strived for excellence, but this recognition from members is cause for celebration.
* Compared to publicly measured energy utilities in the ACSI® survey of customers rating their own energy utility. Results based on data provided by Coastal Electric Cooperative, collected between July-August 2024. ACSI did not regulate the survey administration or sample size. ACSI and its logo are registered trademarks of the American Customer Satisfaction Index LLC. For more about the ACSI, visit www.theacsi.org.
MEMBERS GET MONEY BACK
One unique practice of the co-op business model is retiring capital credits. When member revenues exceed costs, those margins become the member’s equity in the cooperative. When the financial strength of the cooperative allows, the board of directors can order the return of a portion of that equity.
Those who pay bills to Coastal Electric Cooperative are more than customers—they are members. Coastal Electric Cooperative has no need to generate profits, so members’ electric bills collectively cover what is needed to supply power to their homes and businesses, from generating the power at plants and buying lines and poles that deliver electricity to maintaining equipment to keep service reliable and compensating employees who make it all happen.
When the co-op’s elected board of directors determines it is financially feasible, Coastal Electric Cooperative retires excess margins back to members who have paid their electric bills.
- $2 million+ in capital credits retirements to members in 2023
- $13 million+ in capital credits retirements to date
CO-OP PROGRAMS SAVE MEMBERS MONEY
As a not-for-profit cooperative, we offer programs designed to help members save money and manage their energy use. Because of our commitment to Cooperative Principle 5— Education, Training and Information—we also strive to educate our members about industry trends, energy efficiency and wise energy investments.
For example, through our Cooperative Solar program, the average household that subscribed to two blocks (4kW) of Cooperative Solar in 2023 saved enough money to get more than a free month’s worth of electricity.
A dedicated energy adviser on staff spoke with many members interested in rooftop solar to educate them on the pros and cons, as well as the cost and savings estimates if they decided to invest in rooftop solar.
We rolled out our optional Time-of-Use rate in 2023 and have installed 78 customized Time-of-Use meters for members interested in saving money through the use of off-peak energy.
- $313.70 saved per member who signed up for 2 blocks (4kW) of Cooperative Solar
- 78 Time-of-Use meters installed for members
- More than 1,500 members took advantage of Advance Pay in 2023
- 586 members participated in our Cooperative Solar program—a jump from 443 in 2022
- 50 new residential solar systems added to our system
- 145 miles of right-of-way clearing completed to reinforce electric system reliability
BRINGING RURAL BROADBAND
Coastal Fiber crews continued to focus their efforts on bringing broadband internet to underserved areas of Liberty County in 2023. After completing the Tradeport East area of Interstate 95 early in the year, service became available to several key industrial customers.
Construction of the Midway fiber hut began in early 2023, and the last work orders for the area were released in November 2023, resulting in 66 total miles of fiber successfully being constructed and 1,048 potential customers connected from Bacontown Road to Lewis Frasier Road, and up to the Fleming Shortcut Store on Highway 196.
Next, crews began constructing the tie between the Midway and Daniel Siding fiber huts. Now complete, this span includes 33 miles of fiber and makes Coastal Fiber service available to an additional 879 customers.
- 3,900 homes and businesses have now gained access to Coastal Fiber service
- 220 miles of fiber have been constructed in coastal Georgia