SECO Energy Receives $1.57 Million Capital Credit Retirement from Gresco

SECO Energy recently received a capital credit retirement check totaling over $1.57 million from Gresco Utility Supply, Inc., one of SECO’s longtime cooperative partners. 

The payment reflects one of the key benefits of the Cooperative Business Model. Like SECO Energy, Gresco operates as a not-for-profit cooperative. When Gresco’s revenues exceed the cost of doing business, margins may be allocated back to member-owners and later retired as Capital Credits. SECO Energy’s payment represents its allocated share based on its participation with Gresco.

For SECO members, this return helps support the cooperative’s overall financial strength and long-term planning.

Gresco has supplied the utility industry for more than 65 years by providing products, inventory, technical expertise and supply chain support to electric utilities across the Southeast. SECO Energy works with partners like Gresco to help ensure crews have access to the materials and equipment needed to restore power outages, maintain the electric system, and complete service improvement projects.

Working with cooperative suppliers helps SECO Energy align purchasing decisions with organizations that understand the needs of electric cooperatives and the members they serve.

“Cooperative partnerships like ours with Gresco are built on shared values and a shared commitment to the cooperative difference,” said Curtis Wynn, CEO of SECO Energy. “When SECO Energy receives capital credit retirements from our cooperative partners, those funds help strengthen our financial position and support the long-term value we provide to members. Cooperation Among Cooperatives is one of the Seven Cooperative Principles, and it reminds us that when cooperatives work together, we strengthen one another and the communities we serve.”

Capital credit retirements from cooperative partners are included in SECO Energy’s broader financial planning. Separately, SECO Energy routinely reviews its own financial position and, when approved by the Board of Trustees, may return capital credits to current and former residential and commercial members. 

As Central Florida continues to grow and seasonal weather places added demands on the electric system, partnerships with trusted cooperative suppliers like Gresco help SECO Energy remain focused on reliability, affordability and long-term value for members.

SECO Energy’s CEO Curtis Wynn, alongside the Board of Trustees and guest speakers at the shovel moment during the groundbreaking ceremony.

Left to right: Erin Quinn and Barry Marquart, Gresco; Chris Petersen, SECO Energy Vice President of Financial and Administrative Services; Mark Grant, Gresco; SECO Energy CEO Curtis Wynn; and Travis Walton, SECO Energy Director of Supply Chain Services, receive a capital credits reimbursement from Gresco Utility Supply, Inc.