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Tideland Electric Membership Corp. manager resigns

By Staff
Is semi-retired, but looking for opportunities
Senior Reporter
The Tideland Electric Membership Corporation chief executive officer resigned last month.
Stacy began work as CEO at Tideland EMC eight years ago. He has a bachelor’s degree in electrical engineering from Clemson University and a masters in business administration from Gardner-Webb University.
Stacy came to Tideland with three years of experience at Energy United Electric Membership Cooperative in North Carolina, where he was vice president of operations. Before holding that post, he worked for five years as general manager of Wisconsin Rapids Utilities in Wisconsin Rapids, Wis.
In a prepared statement released Wednesday afternoon, Ray Hamilton, president of Tideland’s board of directors, wrote, “While Tideland EMC does not comment on individual personnel matters, our members can rest assured that the cooperative is on solid footing in every way.
“Tideland is no stranger to change and, thanks to a team of great employees, this transition will no doubt be a smooth one.”
Tideland’s headquarters are in Pantego. It is an electric cooperative organization that is owned by its membership. It supplies electricity to its members in Beaufort, Washington, Hyde, Dare, Pamlico and Craven counties. There are 26 electric cooperatives in North Carolina.
Also in Hamilton’s prepared statement, he wrote, “We ended 2007 with net margins of nearly $1.9 million with every penny being allocated back to our members at a rate of 6 cents per dollar of patronage. Rate increases have been kept to a minimum the last several years and, since August 2007, the wholesale power cost adjustment factor has steadily declined.