SECO Energy and Gresco Utility Supply Celebrate Capital Credits Partnership
SECO Energy, the trusted electric cooperative serving over 235,000 homes and businesses in Central Florida, recently celebrated a significant milestone in its partnership with Gresco Utility Supply, a fellow not-for-profit cooperative. This partnership has proven to be a significant benefit to SECO Energy and its members through Capital Credits delivered to SECO by another cooperative with which SECO does business.
Gresco President & CEO, Steve Gramling, presented SECO Energy CEO, Curtis Wynn, with a check totaling an impressive $2.1 million. This check represents SECO’s share of Gresco’s current Capital Credits retirement cycle, showcasing the strength of their collaboration.
Gresco Utility Supply, originally formed in 1960 by 15 electric cooperatives, has evolved into a vital supply-chain partner. The company’s portfolio includes an array of products and services in lighting, tools, telecom, solar, EV charging stations, and unmanned aircraft systems. SECO Energy’s partnership with Gresco is integral to its operations, and the electric cooperative reaps allocated margins from Gresco based on its annual supply purchases.
Furthermore, SECO Energy’s equity in Gresco has grown impressively, cementing its position as one of Gresco’s largest member-owners by equity. This long-standing partnership has not only strengthened the cooperation between the two entities but has also delivered substantial benefits to SECO Energy’s members. This most recent capital credit retirement represents 20% of SECO’s patronage with Gresco.
CEO Curtis Wynn applauds the partnership between SECO and Gresco. Wynn stated, “SECO Energy is dedicated to providing innovative energy services to its members and communities. During this time of supply chain constraints, Gresco is SECO’s trusted partner that provides the equipment needed to supply safe, reliable energy that is affordable. Gresco also answers the call during mass restoration efforts after major storm events. The supply chain delivery service Gresco provides to SECO is invaluable.”
In line with this commitment, SECO Energy also returns a portion of its margins in the form of Capital Credits to current and former members. The recent distribution of Capital Credits to current members in their November billing statements further exemplifies SECO Energy’s dedication to its members’ well-being.
This milestone in the partnership between SECO Energy and Gresco Utility Supply underscores the cooperative’s mission to provide exceptional service to its members while fostering collaboration with like-minded organizations.
About Gresco Utility Supply
Gresco Utility Supply is a not-for-profit cooperative formed in 1960 by 15 electric cooperatives. It has evolved into a diverse supply-chain partner, offering products and services in lighting, tools, telecom, solar, EV charging stations, and unmanned aircraft systems to meet the needs of electric cooperatives and their members.
“Like” SECO Energy on Facebook and follow @SECOEnergy on Twitter for prize drawings, news releases, and severe weather alerts affecting SECO Energy’s service territory. Manage your outage notification preferences at StormCenter. To see when SECO Energy crews/contractors are working in your area, visit our new System Improvement Map. To learn more about SECO Energy as a not-for-profit cooperative, visit About SECO Energy.
