EnergyUnited

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EnergyUnited, based in Statesville, North Carolina, is the largest electric cooperative in North Carolina, serving nearly 125,000 metering points and 105,000 members. It was formed in 1998 by the merger of Crescent Electric Membership Corporation and Davidson Electric Membership Corporation.

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History

EnergyUnited

On October 1, 1998, Crescent Electric Membership Corp. and Davidson Electric Membership Corp. merged, and the combined utility EnergyUnited Electric Membership Corp. had almost 90,000 customers in 18 North Carolina counties. [1] The company considered around 700 names, including Metrolina and Triad, but the name EnergyUnited reflected the possibility the company would diversify into other areas. [2] Crescent executive vice president R.B. Sloan, Jr., an employee since 1973, became the chief executive officer, while Wayne Wilkins, Davidson executive vice president and an employee since 1971, became chief operating officer. [3] The new company was North Carolina's largest electric cooperative, and seventh out of almost one thousand cooperatives in the country. The small number of customers in areas typically served by cooperatives meant higher power bills than those for investor-owned companies, but the territory of EnergyUnited included fast-growing areas which would have many customers, and bills would be lower as a result. EnergyUnited promised rates would drop five percent. No jobs were lost and no offices closed, though the company projected $38 million in savings over ten years. [4]

In 1999, EnergyUnited began offering Internet services through EnergyUnited Internet, Inc., a for-profit company. [5]

In 2000, as the result of a new state law, [6] EnergyUnited paid $20 million for most of the N.C. operation of All Star Gas, a propane distributor. David Meacham became the head of the propane subsidiary. [7] Also that year, EnergyUnited began offering security services under the HomeVantage brand, including security systems and carbon monoxide detectors. [8]

In 2001, EnergyUnited began selling long distance telephone service. Along with LecStar Telecom of Atlanta, the company expanded that service to the entire state in 2003, when EnergyUnited had 4500 telephone customers. [9]

On November 12, 2010, EnergyUnited officially debuted a solar farm in the Taylorsville area, generating enough power for 150-200 homes. The $6 million project was a joint effort with SunEdison, but Duke Energy took over, and EnergyUnited will buy the solar power from Duke. The company also purchased electricity from a biomass plant at Iredell County's landfill [10] which generated enough power for 3000 homes. [11]

Crescent Electric

Based in Statesville, North Carolina, Crescent Electric Membership Corp. was created in 1971 by the merger of Cornelius Electric Membership Corp., with 6000 customers, and Davie Electric Membership Corporation, with 12,000. [12] In 1998 Crescent had over 53,000 customers in Alexander, Cabarrus, Catawba, Davie, Gaston, Iredell, Lincoln, Mecklenburg, Rowan, Wilkes and Yadkin counties. [13]

Davidson Electric

Based in Lexington, North Carolina, Davidson Electric Membership Corp. had over 36,000 customers in Davidson, Davie, Forsyth, Guilford, Montgomery, Randolph, Rockingham and Stokes counties. [13]

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References

  1. ↑ "New Electric Co-Op Begins Operating in 18 N.C. Counties," Greensboro News & Record, October 21, 1998.
  2. ↑ Jim Wrinn, "Here's Story Behind Name for New Firm," The Charlotte Observer, July 19, 1998.
  3. ↑ "Chief Executive Named for EnergyUnited," Greensboro News & Record, August 28, 1998.
  4. ↑ Martin Kady, "Electric Co-Ops Announce Merger," Winston-Salem Journal, July 28, 1998.
  5. ↑ "EnergyUnited Starts Internet Spinoff," Winston-Salem Journal, February 19, 1999.
  6. ↑ "Electric cooperative buys propane business," Jefferson City News-Tribune, April 1, 2000.
  7. ↑ Jane Seccombe, "EnergyUnited Buys All Star Operations," Winston-Salem Journal, April 1, 2000.
  8. ↑ "Briefcase," Winston-Salem Journal, November 7, 2000.
  9. ↑ Kristi E. Swartz, "Utility to Sell Long-Distance Phone Service Statewide," Winston-Salem Journal, July 10, 2003.
  10. ↑ Bethany Fuller, "EnergyUnited unveils new solar farm," Statesville Record & Landmark, November 14, 2010.
  11. ↑ Bethany Fuller, "Iredell landfill system set to break 10,000 megawatt hours," Statesville Record & Landmark, December 4, 2008.
  12. ↑ Steve Johnston, "Electric Co-Ops Plug into Merger Trend," The Charlotte Observer, February 13, 1989.
  13. 1 2 "Electric Membership Groups Plan to Consolidate This Year," Greensboro News & Record, August 2, 1998.
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