Oct. 25--The Pee Dee Electric Cooperative, Inc., held its 70th annual meeting Saturday at Florence Civic Center.

With an estimated 5,000 members in attendance, E. LeRoy "Toy" Nettles Jr., the president and CEO, presented the annual state of the co-op message. He announced that wholesale power costs weren't going to increase as expected because of the economic downturn. As a result, members received a 1 1/2 cent per kilowatt-hour credit on each bill starting last August. That credit will increase to three cents per kilowatt-hour for November and December. Nettles also said projections are that power costs will remain stable through 2010. With this news, the crowd of mostly residential customers clapped and whistled.

With the co-op celebrating its 70th anniversary, a special video focused on its history and longstanding commitment to improving the livelihood of its more than 24,000 members.

Brian Kelley, vice president of marketing, said the co-op has been dedicated to the people it services from its beginnings as a group of farmers trying to get electric service to their rural neighborhoods.

"We were the first co-op in the state to serve industry. We are committed to recruiting more industries to the Pee Dee, not only so we can supply them with their electricity, but to bring more jobs and opportunity to the region," he said.

The Pee Dee Touchstone Energy Commerce City at the junction of I-95 and Highway 327 is evidence of that commitment, Kelley said.

In 2001, the cooperative acquired the site, installed infrastructure (electricity, roads, water, sewer, fiber-optic telecommunications and natural gas)and completed all pre-permitting so that Commerce City would be a "shovel ready" property "certified" by the South Carolina Department of Commerce.

The 704-acre industrial park is the home of Angus Palm, a manufacturer of safety cabs for Caterpillar and John Deere, the City of Florence Regional Water Treatment Plant, FedEx Ground delivery hub, IFH Foodservice Distribution, Pepsi Cola of Florence and the future home for HJ Heinz and Monster.com.

Not only will this venture continue to create jobs and opportunity for Pee Dee residents, the co-op continues to increase its industry-based services.

"A large percentage of service to industry helps to hold rates down for residential customers which is a main concern in these hard times," Kelley said.

-----

To see more of the Florence Morning News or to subscribe to the newspaper, go to http://www.morningnewsonline.com.

Copyright (c) 2009, Florence Morning News, S.C.

Distributed by McClatchy-Tribune Information Services.

For reprints, email tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA.

NYSE:CAT, NYSE:DE, NYSE:HNZ,

A service of YellowBrix, Inc.