Dear Members,

SECO Energy’s New Strategy – New Mission: 2022 Annual Report celebrates the Cooperative’s phenomenal successes of the past year. I and the executive leadership team with the approval of the Board of Trustees have crafted a Strategy Map that will take us into the future. As your innovative energy services provider, we will continue to focus on our core business, meet the demand of increasing growth in our service area and overcome labor and supply chain shortages.

Specific Targets

SECO aims to maintain competitive rates, reduce operating expenses and increase member satisfaction. We are working to gain efficiencies as we engage in new technologies such as our systemwide AMI deployment. Electric cooperatives lead the industry in embracing AMI technology – 81% use AMI meters. SECO is proud to join this group of innovators. AMI renews our commitment to finding new ways to engage members to help you reduce your monthly energy costs and control your expenses. SECO, on a larger scale, must do the same to reduce our wholesale power costs – thus lowering the cost for all members.

Growth is the name of the game in our area, at year-end 2022, SECO provided service to 231,085 active meters. This is a 4% increase over our yearend 2021 total of 222,188. In the U.S. there are just over 830 electric distribution cooperatives. Our active meter total helps us maintain our position as the third-largest electric distribution cooperative in Florida and the seventh largest in the nation.

In unity with the growth rate of active meters, our 2022 kilowatt-hour (kWh) sales also increased 4%. In 2022, SECO members consumed 3.83 billion kWhs of energy compared to 3.68 billion kWhs in 2021. At year-end 2022, SECO’s investment in electric facilities topped $1.1 billion. Last year, SECO Energy invested over $7 million per month in our electric infrastructure. This investment provides affordable, safe electric service while maintaining and constructing facilities for continuing growth.

Cooperatives power over 56% of the nation’s landmass. The business model is stronger today than ever and is delivering reliable, innovative energy services to members across America. Read our 2022 Annual Report at SECOEnergy.com > Newsroom > Annual Reports.

Best regards,

Curtis Wynn
Chief Executive Officer

The Trout Lake Nature Center (TLNC) received $22,000 in dedicated SECO Energy Foundation grant funds to help replace a portion of its boardwalk that traverses the 230-acre Eustis preserve. Thousands of students and adults visit the Center and stroll the boardwalk and nature trails each year.

Over time, the wooden boardwalk has deteriorated and the TLNC Board of Directors agreed to replace it. TLNC is a significant community asset contributing to environmental appreciation and knowledge of Florida wetlands and habitat.

The grant from the Foundation will ensure that the boardwalk will be safe for the public to discover natural Florida landscapes for years to come.

The SECO Energy Foundation rounds up your bill to the nearest dollar. The donated pennies are devoted to charitable causes within the communities served by SECO Energy. Donations are tax deductible. More information can be found at www.SECOFoundation.org. You may opt out by visiting SECOEnergy.com, emailing CustomerService@SECOEnergy.com or calling (352) 793-3801. A copy of the official registration and financial information may be obtained from the division of consumer services by calling toll-free within the state (800) 435-7352 or https://csapp.Fdacs.Gov/cspublicapp/checkacharity/checkacharity.Aspx. Registration does not imply endorsement, approval, or recommendation by the state. Registration number ch70691.

Did you know you can report an area light outage 24 hours a day, 7 days a week – even on weekends – online using LightFinder through our StormCenter platform?

If you notice an area light that is out, flickering, or on during the day, visit SECOEnergy.com > StormCenter and choose LightFinder. Enter the pole number or closest address in the search bar in the upper left. An icon represents each light. Working lights are shown as a green icon, while a red icon is a light that has already been reported as malfunctioning. The icon is orange if the light has been repaired in the last 24 hours. A gray icon represents an inactive light and a blue icon is a member-owned light, which is the member’s responsibility to repair.

Complete the short reporting form and submit your email address to receive updates about the light’s repair status. Most area light issues are resolved within 24 hours.

SECO Energy is YOUR not-for-profit electric cooperative that has been serving Central Florida members in seven counties for 85 years. Established as Sumter Electric Cooperative, Inc. in 1938, we have grown from a small rural cooperative to a regional utility that serves over 235,000 homes and businesses. While SECO continues to grow and embraces innovation in the ever-changing energy industry, we hold fast to the traditional Seven Cooperative Principles.

1. OPEN AND VOLUNTARY MEMBERSHIP

You are the most important aspect of your cooperative. SECO is inclusive to all who reside in our service area and seek electric service as members and does not discriminate.

2. DEMOCRATIC MEMBER CONTROL

You have a vote in the cooperative’s governance process. Members elect a Trustee from their geographic District and are called on yearly to vote on Annual Meeting business. No matter your economic participation level with the amount of kWh you purchase annually, one membership equals one vote.

3. MEMBERS’ ECONOMIC PARTICIPATION

The cooperative’s equity is contributed equally to by the membership based on the pro-rata purchase of power annually – in the form of Capital Credit allocations. Members (through their elected Board of Trustees) manage that capital democratically. You own a portion of the cooperative’s equity through your annual Capital Credit allocations. SECO Energy returns margins to the membership in the form of Capital Credit retirements yearly with Board of Trustee’ oversight and approval.

4. AUTONOMY AND INDEPENDENCE

Cooperatives are independent, self-governing associations with Trustees who are elected by the membership. This allows members to exercise freedoms, such as voting, within the structure.

5. EDUCATION, TRAINING, AND INFORMATION

One of our most important tenets, SECO Energy shares information and cooperative updates in monthly SECO News editions, billing statements, the website, social media and news releases. Employee training activities are paramount to maintaining and building our knowledgeable workforce to serve you. Read page 4 to learn more about the 2023 SECO Energy Scholarship awardees – these bright students are the future of the energy industry.

6. COOPERATION AMONG COOPERATIVES

Collaboration is essential in today’s fast-paced world. During natural disasters, cooperatives network for mutual aid in the form of employees, equipment and essential supplies to restore service safely and expediently. During Hurricane Irma in 2017, cooperative employees from 13 states responded to our request for aid and traveled to our area from as far as Wisconsin.

7. CONCERN FOR COMMUNITY

The decisions we make as a cooperative are in the best interests of the communities we serve. Just this year, we launched the SECO Energy Foundation to better serve our communities with more outreach both financially and through face-to-face engagement. Read page 2 to learn about the Trout Lake Nature Center’s recently funded grant of $22,000 that is being used to rebuild a dilapidated boardwalk that thousands of visitors explore each year.

SECO Energy is grateful for its members. Through our employees’ work every day, our members’ lives are better – with safe, innovative electric service, a commitment to member satisfaction and quality of life in the communities where we live and serve.

SECO Energy’s Surge MitiGator™ chomps down on voltage and spikes and surges. The meter-based surge arrester blocks surges and voltage spikes that enter through the electric line and damage appliances and electronics. Surges are caused by lightning, vehicle accidents, small animals, fallen trees and other unpreventable anomalies.

Lease the protection for only $5.95 plus tax per month with a $25 installation fee. Purchase prices range from $349 to $399, and installation is free. The purchased product carries a 15-year warranty. A leased protector is automatically replaced at the end of the warranty without charge.

The surge arrester at the meter is the first step in protection. Purchase point-of-use surge devices at a big box or hardware store to protect appliances and electronics inside your home. Enroll at SECOEnergy.com > Energy Solutions > Surge MitiGator and complete our web form.

Congratulations to SECO Energy’s 2023 Scholarship Awardees! Each local scholarship recipient will receive $3,000 to fund their education in preparation for an energy-industry career.

SECO Energy Scholarships are awarded to high school seniors graduating in May or June of the current year. To receive the award, the student must reside in a home served by SECO and enroll full-time in an accredited Florida college, university or trade school by the end of 2023. Core studies focus on technology, engineering, math or business, ultimately leading to a career in the energy industry, ideally with SECO Energy.

THE 2023 SECO ENERGY SCHOLARSHIP AWARDEES ARE:

TANNER COPEN Leesburg High School

LAUREN ASHLEY MICKENS Lake Minneola High School

BROC KINLEY South Sumter High School

GRACE FLYNN South Lake High School

IMANI LINZY Lake Weir High School

ANDREW COLLINS The Villages Charter High School

GRANT DAVID Tavares High School

SECO Energy is hiring! View open positions, set up job alerts and apply online, visit SECOEnergy.com > Contact > Careers. We offer competitive wages, comprehensive medical and dental insurance, generous paid time off, 401k with company matching contributions, employee-referral program, remote work capability for certain positions and student loan reimbursement. Join the SECO Energy team today.

Read the full July 2023 SECO News online.