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Tag: 2016 Annual Report

SECO News, June 2017

SECO News June 2017, Duncan’s Digest

Duncan’s Digest

 

Dear SECO Energy Members,

From the torch, to the oil lamp, to the Edison incandescent, to the CFL and LED, lighting has changed dramatically with the times. To “let there be light” today, SECO Energy must also change with the advancements of our industry. We must control costs and provide a high level of customer service. That’s what you expect and deserve, and we stand ready to fulfill your energy needs.

 

With our 2016 Annual Report and audit complete, I am proud and humbled to share strong fiscal results. Staying ahead of growing power demand is a challenge that is capital and expense intensive. It is a delicate balance of design, construction, maintenance and vegetation management.

 

Illuminating your homes and powering your appliances and electronics is a 24/7 responsibility. “Storm Ready” is SECO’s motto when Hurricane Season converges on The Sunshine State on June 1. If a storm blows through and on the rare occasion when the lights go out, you can bet that our crews and contractors are staged and on the move to restore power the moment it’s safe. Our Emergency Restoration Plan and investments in storm preparation ensure that you will not go without power for an extended period of time.

 

Our dedication to you over the last decade of service improvements has manifested in SECO Energy earning two consecutive J.D. Power awards for highest customer satisfaction in the nation in our segment. The cooperative’s ACSI score improved in 2016 to 89 – an outstanding rating, especially when compared to investor-owned and municipal utilities.

 

What distinguishes SECO from other providers is called the cooperative difference, and is made possible by our Board of Trustees’ governance, our executive team’s leadership and, most important, the dedication and hard work of the 400+ SECO Energy employees. Learn more in the online version of the 2016 Annual Report.

 

Thank you, members, for rating SECO so highly and for your loyal patronage. We are humbled and privileged to serve as your Central Florida energy provider.

 

Jim Duncan

Chief Executive Officer

 

SECO News June 2017, Surge Protection: Protect your Appliances and Win

 

Surge Protection: Protect your Appliances and Win

 

With Atlantic Hurricane Season in full swing, are your large appliances protected from harmful power surges? Would you like a chance to win a $300 bill credit? Read on to learn more about SECO’s surge protection program and a chance to win.

 

During the month of June, The Old Farmer’s Almanac predicts daily thunderstorms with an above average rainfall. That means Florida’s daily afternoon thunderstorms will likely bring large amounts of rain, high winds and damaging lightning.

 

In addition, birds, small animals, falling trees or vehicles crashing into SECO power poles can cause power surges. Power surges are sudden, powerful increases in voltage that can damage or destroy household appliances and other electronic devices in your home.

 

SECO’s surge protection is proudly “Made in the USA” and helps you protect large appliances from damaging power surges. A certified SECO contractor will install the meter base surge arrester behind your electric meter, no appointment needed. Members can lease the surge protection for $5.95 a month with a $25 installation fee, or purchase the product for $349 with installation included. The meter base arrester is just the first step to complete protection. Members should also purchase “point of use” devices from their local home improvement or hardware store to protect sensitive electronic equipment such as televisions, computers, cordless phones and more.

 

All members enrolled in SECO’s surge protection program will be entered into a random drawing for a $300 bill credit. Enroll by August 15 for your chance to win. Members who currently have surge protection are already entered into the drawing.

 

Learn more about SECO’s surge protection and enroll online. Good luck!

 

SECO News June 2017, Hot Bucks cooling down

 

Hot Bucks Cooling Down

 

Natural gas consumption in the power sector has risen 25% in recent years. The U.S. Energy Information Administration forecast that natural gas prices will rise about 20% in 2017. That prediction is beginning to play out.

 

The overall natural gas price outlook for Q3-Q4 2017 and NYMEX futures prices indicate that rock bottom gas prices under $3/MMBtu are over. Utilities across The Sunshine State are filing for rate increases as a result.

 

SECO Energy members have benefitted from three years of steadily declining power costs – a decrease of about 12 percent during that timeframe. But now we must respond to the changing fuel market trends.

 

As a result, SECO must adjust the PCA – Power Cost Adjustment – component of your bill. Rather than paying $112.60 for 1,000 kilowatt hours, members will begin paying $114.90 for that same average usage beginning July 1 as approved by the Board of Trustees.

 

The SECO increase is $2.30 per 1,000 kWh. Comparatively, Duke Energy’s increase that took effect in January was $4.39 per 1,000 kWh, and Florida Power & Light’s was $7.00 – reflections of the changing market.

 

Learn more about SECO Energy’s financial stability in the 2016 Annual Report.

 

 

Read the full June 2017 SECO News here.

Record Attendance at SECO’s 79th Annual Meeting of the Membership

Attendance boomed at SECO Energy’s 79th Annual Meeting of the Membership on Saturday, March 25. Thousands of members, guests, vendors and VIPs enjoyed hot breakfast biscuits, sweet treats, energy efficiency displays, live entertainment, gifts and a chance to win grand prizes and various door prizes. The weather was filled with trademark Florida sunshine and the springtime breeze kept everyone cool.

 

The Cooperative’s 79th Annual Meeting broke attendance records with a total of 4,539 registered members and their guests, compared to 3,100 registered members and guests in 2016. Additional parking areas were needed due to the increased attendance. The parking team was responsible for parking over 2,000 vehicles – 600 more than last year – along with 18 motorcycles and even one golf cart that came down US 301 in the wee morning hours.

 

Parking 2,000 vehicles over a three-hour period and providing shuttle service is complicated. Coordinating the exit of that many vehicles in less than an hour is no small feat either, but SECO appreciates its members’ patience with the exit traffic.

 

SECO Energy 79th Annual Meeting, Record Attendance at SECO's 79th Annual Meeting of the Membership

 

The crowd was well-fed with over 4,500 breakfast biscuits served. SECO kept the crowd lively with sweet treats and caffeine serving more than 10,500 Krispy Kreme doughnuts, 16,000 chocolate chip and oatmeal raisin cookies, along with 5,300 cups of coffee and almost 6,000 cans of soda.

 

Registered members received a copy of SECO’s 2016 Annual Report and a gift bag with two commemorative insulated steel tumblers. SECO and its wholesale power provider Seminole Electric distributed over 6,000 LED bulbs to members. Members won a total of 127 door prizes, many donated by local businesses and vendors that are also SECO members. Four cash prizes were up for grabs along with a refurbished Dodge Dakota truck and a refurbished electric golf cart.

 

Michael Niemiec from Inverness won the refurbished 2005 Dodge Dakota truck, Lake Panasoffkee’s Shannon Jessup was the winner of the refurbished electric golf cart from The Villages Golf Cars and The Villages resident Edward Maffuccio was the happy winner of the $1,500 cash prize. Other cash prize winners were Clark Smith from Webster who won $1,000 and Christine Bartow from The Villages and Edward James from Leesburg both won a $500 cash prize.

 

SECO Energy 79th Annual Meeting, Grand Prize winners

 

In the days leading up to the meeting and during, over 400 additional members “liked” SECO’s Facebook page and over 700 members interacted with the cooperative on Facebook during the meeting. These members were entered into a random drawing to win a $300 bill credit. Rosemary May of The Villages was the winner of the bill credit. Members who pledged a financial contribution to The Action Committee for Rural Electrification (ACRE) had a chance to win a patriotic picnic set. ACRE is a committee that funds candidates who support the interests of electric cooperatives such as SECO. Gloria Blackman of Tavares, one of 75 members who pledged to assist ACRE, was the winner of the patriotic picnic set.

 

Several of SECO’s vendor-partners were on hand to display their energy-saving products and services for interested members. SECO displayed its new Solar Life program – the hassel-free green choice alternative to individual rooftop solar. Six members signed up to have a portion of their utility-supplied power reduced by the output of four solar panels in Seminole Electric’s 8,000 panel solar array located in Hardee County.

 

SECO’s Solar Square array and its online production dashboard was also on display and accessible to members. The solar demo’s house replica displays a bi-directional meter for net metering, an inverter and a photovoltaic module on a simulated rooftop. Members interested in solar energy can use the Solar Estimator to help determine costs and output.

 

During his CEO Report, Jim Duncan asked members to consider enrolling in the Pennies from Heaven program that offers financial aid to local members. “SECO’s Pennies from Heaven program rounds up members bills to the nearest dollar. Currently, less than 8,000 members contribute to the program. If all 197,000 members enrolled in Pennies from Heaven, the yearly contribution would top $1.18 million. Imagine all of the good your pennies could contribute to in your communities if every SECO member enrolls in the program.”

 

Ray Vick, Board of Trustees President, stated, “I am personally asking all 197,000 members to consider contributing to Pennies from Heaven. With more members contributing, the collective pennies could fund local charitable organizations, purchase equipment for first responders, support school and youth programs, fund teacher endowments and many more worthy causes in SECO’s service area.”

 

Unfortunately, the record setting attendance created a small shortage in breakfast biscuits and Annual Report gift bags for about 100 members who arrived just before the business meeting began. SECO is in the process of identifying those members to provide an apology letter and gesture of goodwill.

 

The PowerPoint slides from Saturday’s Annual Meeting are posted online at www.secoenergy.com>YourCo-op. Video footage of the meeting will be posted on YouTube, Facebook and Twitter next week. “Like” SECO’s Facebook page and “follow” @SECOEnergy on Twitter for news releases and cooperative updates.