North Myrtle Beach Times Serving our Community and the Grand Strand for over 50 years
By Kaye Collins
It has been a year since Horry Electric Cooperative (HEC) introduced a new rate structure for three key reasons. The first was to empower members to manage their bills. Secondly is to ensure that member bills reflect the traditional billing practices of HEC. Thirdly they guaranteed that members contribute fairly for the electricity they consume in their homes or businesses, as well as for their share of the peak demand they place on the system.
Since the introduction of the new rate structure in May 2024, they have dedicated themselves to educating their members. HEC has invested countless hours addressing inquiries by phone as well as replied to thousands of emails. Additionally, they have presented at various civic organizations, businesses and church gatherings to assist members in comprehending the rate structure, their billing process and potential savings opportunities.
The restructuring of rates was intended to be revenue-neutral for all rate categories, indicating that HEC would not generate any extra revenue. As they have consistently stated from the outset, this was not an increase in rates.
Over the past year, they have been inquired about the success of the restructure. They required a complete year of data to provide a conclusive answer to this question and are thrilled to inform customers that it is indeed effective.
Between October 2024 and September 2025, we issued bills to members 12 times at the new rate (one bill each month). During this period, members have collectively saved $5.1 million compared to the previous rate structure.
HEC has experienced a notable decrease in power expenses, reinforcing the assertion that when members save, Horry Electric benefits. To elaborate on this figure, 54 percent of Horry Electric’s members have realized savings under the new rate structure, validating the revenue-neutral framework.
Throughout the year since the rate structure notice, HEC has communicated with numerous members who are unaware that they benefited from the new rate structure. Frequently, members contact them due to an increase in their bill compared to the previous month. When analyzing bills, it is essential to compare them from the same billing period of the previous year, as monthly temperature fluctuations can greatly influence your electricity expenses. With these calls they compare member use on the new rate structure to the old rate, most of the time, members have saved.
The team at Horry Electric is dedicated to assisting you in every possible way. Despite the increasing costs across the board, Horry Electric is committed to maintaining your rates at the lowest possible level.
Here are responses to three frequently asked questions from members regarding the new rate structure.
1: Am I billed $12 per kilowatt (kW) for every peak hour in the month? The answer is, “No, the Peak Charge applies only to the single highest hour of energy consumption during peak hours within the billing cycle.” This is not a daily fee.
2: What criteria were used to select these hours? The answer is, “The peak hours were determined based on the times when electricity demand in South Carolina is at its peak and most costly (typically during hot summer afternoons and cold winter mornings).”
3: Must I turn off all my appliances? The answer is “No. It is not suggesting that members refrain from using electricity during peak hours, they encourage members to be conscious of their usage and recommend avoiding the simultaneous use of all major appliances.”
For further details, visit the Rate Center at horryelectric.com for more information. Customers can call 843-369-2211 or email service@horryelectric.com.
