SECO News, November 2019

Money doesn’t grow on trees and pigs don’t fly, but you can take your Capital Credits return to the bank. This month, SECO Energy is making you and your wallet a little happier. During its October meeting, SECO’s Board of Trustees approved a Capital Credits return (retirement) of $3.5 million to current and former members. Look for your 2019 Capital Credits retirement on your November bill just in time for the holiday season.

As a member of a not-for-profit electric utility, you along with your fellow 200,000+ SECO members own a portion of the cooperative’s equity. Your membership brings home the bacon through energy purchases that build patronage capital. Ownership is defined through the annual process of allocating each member’s share of the co-op’s margins from the prior year. The annual amounts for each member who purchases electric service during the year are referred to as Capital Credit allocations.

Capital Credits are the accumulation of all prior year’s revenue after the co-op’s operating costs and expenses are paid. These credits are allocated on a pro-rata basis to each SECO Energy member’s account as Capital Credits. Annually, SECO examines the financial position of the cooperative and makes a recommendation to the Board of Trustees on the “retirement” of Capital Credits. This year’s $3.5 million retirement means that a portion of the cooperative’s equity is being returned to current and former members. That number is a lower retirement than in years past, as the cost of delivering power to new members and maintaining our existing infrastructure is rising faster than our revenue.

Each current member who receives a 2019 Capital Credits retirement will see the retirement amount on the November billing statement listed as a line item labeled “Capital Credits Ret.” Commercial members with retirements over $1,000 will receive a check. If you move out of SECO’s service area, keep your mailing address updated so we can send future Capital Credit retirements your way.

SECO Energy was founded as Sumter Electric Cooperative, Inc. in 1938 and has retired more than $66.8 million to current and former members as a tangible benefit of the cooperative business model.

Sincerely,

Jim Duncan

Chief Executive Officer

SECO Energy and its ever-generous employees support the Marine Toys for Tots drives in the communities we serve. SECO’s five Member Service Centers in Eustis, Groveland, Inverness, Ocala and Sumterville are available as public drop-off locations for Toys for Tots.

This year, members can partner with SECO Energy to bring a smile to a child on Christmas day. Visit a Member Service Center to drop off new, unwrapped toys for the Toys for Tots donation box. Toys are collected by local Toys for Tots volunteers in each county and donated locally.

Toys for Tots is a top-rated charity. Since 1947, its mission is to deliver toys, books and other gifts to less fortunate children. Over 97% of cash donations directly support that mission. The remaining 3% is spent on fundraising expenses. No donation dollars are spent on salaries or other manpower. Toys for Tots volunteers collect and deliver the donations received. You can donate to Toys for Tots with confidence that your donation will go straight into the hands of a local child.

In 2018, SECO employees donated more than a hundred bicycles and tricycles, as well as hundreds of toys to make a difference in the lives of local children who live in the communities we serve.

Learn more about the Marine Toys for Tots Program online. Find a SECO Energy Member Service Center.

Protect your home from power surges by investing in SECO Energy’s Surge MitiGator™. Power surges are sudden, powerful increases in voltage that can damage or destroy your household appliances and electronics. Surges are caused by lightning, trees, small animals, birds and vehicle accidents involving energized facilities.

SECO’s Surge MitiGator™ is “Made in the USA” and is built to chomp down on surges and spikes. The MitiGator™ is available for just a few cents per day at a lease rate of $5.95 per month, plus tax, conveniently added to your monthly bill. Installation for standard residential 200-amp service is $25. For residential services greater than 200-amps installation is $100.

You can opt to purchase the product for $349 to $399 plus tax. The installation fee is waived when purchasing the MitiGator™.

The Surge MitiGator™ is an arrestor that is installed behind the meter. Your protection against surges and spikes begins at the meter but SECO encourages members to plug all sensitive electronics into point-of-use surge protection devices. Point-of-use devices can be purchased at your local hardware or big-box store.

Visit our Surge MitiGator™ page today to enroll and to learn more about how you can protect your home’s appliances from surges.

Fall for Energy Efficiency November 2019 SECO News

According to the Old Farmer’s Almanac, November and December temperatures will average in the mid-60s. Winter is forecast to be mild with the coldest temperatures arriving in February. A well-functioning HVAC runs more efficiently and helps you lower your energy use when cooling or heating your home.

Inspecting your HVAC system is not a do-it-yourself job. Hire an experienced, licensed HVAC technician to test the unit’s voltage and electrical components. The tech should also lubricate moving parts, check the filter, measure refrigerant pressure, check electrical connections and test the safety controls. Ensure the tech inspects the drain system, tests the thermostat settings, airflow and more if your unit is problematic. Buyer beware – do your homework, obtain three quotes for the inspection service, read Google reviews and Better Business Bureau reviews. Most important if the price sounds too good to be true it probably is.

Change your air filter according to the HVAC manufacturer’s schedule or once a month. A clean air filter is the first step in helping your HVAC run efficiently.

Don’t leave energy efficiency out in the cold. Schedule an HVAC inspection with a qualified technician before the temperature drops. Preventative maintenance on your system will allow you to enjoy the winter weather from the comfort of your home and save you from the shock of a high repair bill.

Read the full November 2019 SECO News online.

SECO Energy Earns Capital Credits Through Gresco Partnership

SECO Energy and fellow not-for-profit cooperative Gresco Utility Supply based out of Forsyth, Georgia have a long-standing partnership that continues to pay off for SECO and its members. Gresco presented SECO a check for $265,617 that represents SECO’s share of Gresco’s current Capital Credit retirement cycle.

Gresco is a cooperatively-owned business that was formed in 1960 by 15 electric cooperatives that recognized the need for a dedicated supply partner. SECO Energy is one such member-owner of Gresco and thus earns allocated margins annually from Gresco based on that year’s supply purchases. The utility supply cooperative works with hundreds of utilities in the southeast to meet their need for electric and lighting products and services, tools, telecom, solar, EV charging stations and unmanned aircraft systems.

Todd McLellan, Gresco’s Senior Vice President of Supplier Relationships, is thankful for the continuing partnership between SECO Energy and Gresco. McLellan stated, “Gresco is proud to be the service provider SECO Energy expects. Cooperatives doing business with fellow cooperatives makes sense. Cooperation among Cooperatives is also one of the seven cooperative principles and is a foundation of Gresco and SECO’s business models.”

SECO Energy CFO Gene Kanikovsky stated, “SECO Energy counts on Gresco’s ability to deliver high-quality electric supplies during normal business operations and during critical times. Gresco is one of our most reliable partners. When recovering from Hurricane Irma and preparing for Hurricane Dorian, Gresco was behind us every time. We value our partnership with Gresco and are honored to be one of its member-owners.”

Gresco is SECO Energy’s premier supply partner. SECO Energy’s equity in the company is now over $10.5 million making it one of Gresco’s largest member-owners by equity.

As a not-for-profit electric cooperative, SECO Energy also returns a portion of its margins in the form of Capital Credits to current and former members. With Board of Trustee approval, current members will receive their Capital Credits retirement on their November billing statement. Current commercial and industrial members with retirements over $1,000 will receive a check as will former members who have a forwarding address on file with SECO.

Learn more about Capital Credits online. “Like” SECO’s Facebook page and “follow” @SECOEnergy on Twitter for news releases and cooperative updates.

CEO Jim Duncan Celebrates 40 Years with SECO Energy

CEO Jim Duncan is celebrating 40 years with SECO Energy. On June 10, 1979, Duncan joined SECO (then referred to as Sumter Electric Cooperative, Inc.) in the position of Director of Accounting and Finance. He held this position until March of 1990 when he accepted the position of Chief Executive Officer (CEO). As the leader of a not-for-profit utility, Duncan’s priorities focus on maintaining affordable, reliable service for the cooperative’s member-owners.

Over the years, Duncan has seen a lot of positive change, tremendous economic growth and vast system expansion. In 1990 before Duncan became CEO, the cooperative served 66,600 members. Today it provides service to more than 205,000 homes and businesses. Revenue has grown from $74.4 million to $293.7 million. Total utility plant has increased from $143.5 million to $878.7 million. Member equity has matured from 22 percent to 31 percent. The co-op regularly retires capital credits to members with a $5.5 million retirement last year and a $63.3 million returned since inception.

Duncan is humble about his role in leading the cooperative through some tough times and building the organization’s financial strength. He stated, “Our Board of Trustees are the people who are ultimately tasked with reviewing and approving budgets that keep our cooperative fiscally healthy. I credit the Trustees with exercising sound judgement and responsible governance over the years that has allowed SECO to become the third largest cooperative in Florida and the seventh largest in the nation.”

Another of Duncan’s key accomplishments is the significant reduction in outage duration for members. In 1989, members experienced 348 minutes of average outage time annually. Today, that number is only 66 minutes. Duncan attributes the improvement to the development of a robust vegetation management program, system improvement projects that increase reliability, a comprehensive storm hardening program and a workforce that cares deeply about its member-owners’ satisfaction. Duncan states, “Our current senior staff deserves the recognition for ensuring that the delivery of electric service is safe, affordable and reliable and that our members receive the highest level of customer service in the industry.”

Surveys show that SECO Energy members are very satisfied with SECO Energy. In 2018, members again rated the not-for-profit electric cooperative top in customer satisfaction. SECO received an outstanding ACSI score of 89. When comparing SECO to the ACSI Utility Sector scores SECO is a clear national frontrunner. Nationally, cooperative utilities scored a 77 in 2018. Scores for municipal and investor-owned utilities were both slightly lower at 75.

Members also rank SECO high in J.D. Power surveys as well. In 2015, SECO Energy was ranked highest in satisfaction among mid-sized utilities in the south, and in 2016 and 2017, SECO was ranked highest in satisfaction among cooperatives nationally.

Visit About SECO to learn more about the cooperative’s history. Like SECO Energy on Facebook and Twitter to stay up-to-date on company news, to play trivia and to enter prize drawings.

SECO News, November 2018

DUNCAN’S DIGEST

CAPITAL CREDITS

They say money doesn’t grow on trees, but as a member, your 2018 Capital Credits retirement has sprouted and arrives in your November bill.

You, along with 200,000+ residents are members of a not-for-profit cooperative founded in 1938 as Sumter Electric Cooperative with just 500 members. Things have changed over the years. Those meager roots planted 80 years ago have thrived.

Your membership branches into ownership through energy purchases – the proverbial fertilizer of patronage capital. Ownership is defined through the annual process of allocating each member’s share of the co-op’s margins from the prior year. The annual amounts for each member who purchases electric service during the year are referred to as Capital Credit allocations.

During its October meeting, SECO’s Board of Trustees approved a record $5.5 million to be returned (retired) to members. Since SECO’s inception, the co-op has retired more than $63.3 million to current and former members. This year’s Capital Credits return is rooted in sound financial stewardship by SECO’s Board, the leadership team and our dedicated employees.

Each member receiving a 2018 Capital Credits retirement will see the amount on their spruced-up November billing statement listed as a line item labeled “Capital Credits Ret.” Business members with retirements over $1,000 will receive a check. If you move out of SECO territory, keep your mailing address updated so we can send future Capital Credit retirements.

Sincerely,

Jim Duncan

Chief Executive Officer

Meet two SECO Champions – Melissa and Matthew – two examples of our 400+ SECO Champion employees. Melissa and Matthew are dedicated to providing exceptional service to members, co-workers and communities.

MELISSA LACASSE – SYSTEM CONTROL COORDINATOR

LENGTH OF SERVICE – 25 YEARS

“My job is awesome.”

SECO Champion Melissa Lacasse is a System Control Coordinator at our SECO Headquarters who is responsible for monitoring the power delivery to SECO’s over 200,000 members. SECO’s System Control Coordinators work shifts around-the-clock, 365 days a year directing line technicians to service calls throughout our 2,100-square mile territory. Melissa and her family (her husband Ken is also a SECO employee) are long-time residents of Marion County. They enjoy football, boating and spearfishing. During Melissa’s 25-year SECO career, she has worked as a Member Services Representative, Meter Reader, Line Technician and a System Control Coordinator. “At SECO, we are a tight-knit group, whether at work or in the communities we serve. My family was thrilled when SECO hired me, and it is a blessing to work at SECO.”

MATTHEW DIXON – SERVICE TECHNICIAN

LENGTH OF SERVICE – 12 YEARS

“I enjoy helping people.”

SECO Champion Matthew Dixon is a Service Technician who responds to service calls and works to restore members’ power safely. Matthew’s work area covers Bushnell, Inverness, Lady Lake, The Villages and Webster. Originally from Dallas (yes, he’s a Cowboys fan), he moved to Central Florida in 1991 and joined the SECO team in 2006. Matthew, his wife, five children and 15 grandchildren attend church together where he plays bass guitar. Matthew credits his enjoyment of helping people as the reason he became a SECO Line Technician. He is prepared to respond to outage calls day or night and the appreciation he receives from members keeps him going. Watch Matthew’s video on our YouTube Channel to learn how he got the nickname “Hollywood.”

SAFE DECORATING

‘TIS THE SEASON to spread goodwill and cheer while impressing your neighbors with your Christmas creativity.

For your safety, SECO prohibits Christmas décor or other attachments on its poles or decorative lights. Never place a ladder against a SECO area light or pole – you can damage the pole or suffer an electric shock.

Please share your Christmas joy with your neighbors, but refrain from including SECO facilities in your festive design. Decorate safely this season – Merry Christmas!

HOLIDAY ENERGY EFFICIENCY

The holidays are just around the corner which means extra baking and cooking, along with holiday decorations. Don’t forget about energy efficiency while you are celebrating your families’ holiday traditions.

When baking, resist opening the oven door. Each time the door opens, the oven’s temperature can drop as much as 25 degrees which can add cooking time. Another tip – if a recipe calls for baking time over one hour – don’t waste the time and energy it takes to preheat the oven.

Most of us love bright, twinkling holiday lights – be sure to choose LEDs. These are more efficient, last longer and are safer than older incandescent lights. LEDs use less energy and produce less heat than standard incandescent lights.

Here’s to a happy, healthy, energy-efficient holiday season!

TOYS FOR TOTS

Would you like a chance to play Santa for local children in need of Christmas gifts? SECO Energy’s five Member Service Centers are available to the public as U.S. Marine Corps Reserve Toys for Tots Program drop-off locations.

Join the SECO crew in donating a new, unwrapped toy or two for Toys for Tots at a Member Service Center in Eustis, Groveland, Inverness, Ocala or Sumterville. SECO will gather toys through the first week of December.

As a not-for-profit electric cooperative, SECO is dedicated to the communities it serves. Our employees are ever-so-generous in their support of Toys for Tots and other community endeavors for which they volunteer their personal time. Thousands of children will wake up to presents under the tree on Christmas morning thanks to our employees’ and members’ giving spirit.

Read the full November 2018 SECO News online.

SECO Energy Board Compensation Statement

SECO Energy was founded in 1938 as Sumter Electric Cooperative, Inc., a small not-for-profit rural electric utility serving a few hundred folks in the Webster area. Over the years, sound financial management, appropriate governance policies and economic growth in Central Florida have resulted in the cooperative doing business today as a fiscally sound SECO Energy with a membership of more than 205,000 residents and business owners across seven counties.

Cooperatives in Florida are legislated by Florida Statute Chapter 425. Not only is SECO Energy in full compliance with the Florida statute, the cooperative also adheres largely to Florida Public Service Commission guidelines developed for investor-owned utilities (although cooperatives are not technically required by statute to do so). SECO also files its rate tariffs for approval and emergency response plan outline annually with the PSC.

SECO Energy’s member-elected Board of Trustees are fairly compensated for their service and the cooperative’s election guidelines make it easy for an interested party’s name to appear on the ballot. A potential candidate simply notifies SECO in writing of intention to run. No signatures or nominations are necessary.

The potential Trustee candidate must reside in the District, cannot be closely related to another Trustee or employee and must meet very general eligibility requirements per the SECO Energy Bylaws. In fact, four of the nine current Trustees have been elected to the Board in the last eight years. The cooperative encourages election participation at District Meetings and holds an Annual Meeting as required by Florida Statute. In 2018, SECO Energy’s Annual Meeting drew a crowd of nearly 7,000.

Once elected, Trustees are compensated for each monthly Board of Trustee meeting. The amount covers meeting attendance and the study time needed to prepare for Board meetings. The compensation is standard for this region and for a Board responsible for governance and the financial oversight associated with a company of this size with $855 million in utility plant. SECO Energy is the third largest cooperative in Florida and the seventh largest in the nation.

SECO Energy Trustees are not provided with company-paid health, dental or vision insurance or pension/retirement benefits. Trustees are encouraged to participate in trainings and conferences to provide the education needed to govern and oversee the utility.

For trainings/conferences, transportation type and dates/time is limited to the most economical. Overstaying of training/conference dates at company expense is not permitted. The cooperative’s policies prohibit the coverage or reimbursement of spouse or family member travel or entertainment expenses if they accompany a Trustee to a conference or training.

Board meeting dates and times are published two months in advance in our monthly edition of SECO News which is mailed with billing statements and posted on social media and SECOEnergy.com. Members are welcome to attend any meeting in its entirety (with the exception of executive sessions) and can examine the minutes of any past board meeting. Board of Trustee compensation records are released publicly as required in the cooperative’s Form 990. The cooperative publishes an Annual Report as well. SECO Energy is an award-winning utility in customer satisfaction.

SECO Energy has retired Capital Credits regularly as a true not-for-profit electric cooperative should. Capital Credits are the accumulation of all prior year’s revenue after the co-op’s operating costs and expenses have been paid. These credits are allocated on a pro-rata basis to each SECO Energy member’s account as “Capital Credits” and represent a portion of the member’s patronage with the cooperative in the prior fiscal year.

During its September 2017 meeting, SECO’s Board of Trustees approved a record $5.4 million Capital Credits retirement to be returned (retired) to members. Since SECO Energy’s inception, the co-op has retired more than $57.8 million to current and former members. Capital Credits returns are made possible by the sound financial stewardship of SECO’s Board, leadership team and flock of dedicated, cost-conscious employees. The cooperative anticipates (with Board of Trustee approval, of course) another healthy Capital Credits retirement at year end 2018.

SECO News, February 2018

Members, mark your calendar and plan to attend SECO Energy’s 80th Annual Meeting of the Membership on Saturday, March 24, where we will celebrate hitting our 200,000 meter milestone. I hope you’ll come celebrate with us.

The event is centrally located at our Sumterville Compound at 293 S. Highway 301. Registration opens at 8 a.m., and the business meeting including my CEO Report begins at 10:30 a.m. Watch for your official Annual Meeting Notice enclosed with your bill between February 8 and March 9.

SECO’s Annual Meeting is the liveliest party in town – it’s a downright shindig! Arrive hungry; we’re serving hot breakfast sandwiches, doughnuts, cookies, coffee and sodas. Registered members receive a special SECO gift and a copy of our 2017 Annual Report. Browse energy efficiency displays in the Energy Showcase and visit with our energy partners and SECO employees. Enjoy live entertainment by Margo Rochelle and Rodeo Drive Band. Meet the Board of Trustees – your fellow members who you elect to oversee the cooperative’s governance.

Our Annual Meeting celebrates you – our member. SECO is a not-for-profit electric cooperative operating for the benefit of and owned by members. SECO does not share dividends with stockholders or investors. Instead, and per the requirements of our business model and Bylaws, our margins are allocated to members themselves, used as equity for the financial health of the cooperative and returned/retired to the members upon Board of Trustee approval. Since inception, we have retired more than $57.8 million back into your pockets. It’s the “cooperative difference” in action.

New this year, we’ve developed an RSVP process to project member attendance for food and gift ordering. Let us know you are coming. Members who RSVP online and attend the meeting are entered in a drawing for a $300 bill credit.

Those members without internet access can complete the perforated slip attached to the Annual Meeting notice and enclose with the bill payment – or give us a call at (352) 793-3801 and tell us how many will be in the party. Keep in mind members still must register upon arrival to receive door prize and gift tickets.

This year, the Annual Meeting agenda includes a member vote of a Board-recommended revision to SECO’s Bylaws. Look for a copy of the revision in your billing statement that includes the Annual Meeting Notice. A copy will also be included in your SECO gift bag on Annual Meeting day. Before asking for your vote, we will provide an overview of the changes during the business meeting.

Also on the agenda is the all-time member favorite – drawing for door prizes. Grand prizes include a truck and a golf cart – each valued at about $5,000 and $1,500 in cash.

Other prizes include $1,000 in cash, two $500 cash prizes and two $300 bill credits. More door prizes (like iPads and gift cards) are available too, many of which are donated by local vendors and businesses that are also SECO members. The prize drawing begins after the business meeting and Bylaws vote.

There is ample parking, including disabled parking and shuttle service. If you require disabled parking, please have your disabled parking permit displayed prominently on your mirror as you enter the parking area. Employees will guide you to parking and shuttles.

Your official Annual Meeting Notice will arrive in your February or March billing statement. There is no need to bring the notice to the meeting. Just bring a copy of your bill and photo ID. Registration lines move quickly with our electronic check-in process when you have your bill and identification.

Join me, your fellow cooperative members and neighbors, SECO’s Board of Trustees and our employees for the 2018 Annual Meeting of the Membership.

I’m looking forward to seeing each of you.

Sincerely,

Jim Duncan

Chief Executive Officer

Read the full February 2018 SECO News online.

SECO News, November 2017

Duncan’s Digest

Greener Grid – More Megawatts

SECO Energy’s purpose is “To provide exceptional service to our members, co workers and communities.” The very foundation of that purpose requires developing long-range energy supply plans for the future. Looking ahead, not-for-profit utilities like SECO Energy must adapt to the changing landscape of energy production, while being prepared to deliver safe, reliable, low-cost power to current and future members.

In late September while many of us were still reeling from Hurricane Irma, SECO’s wholesale provider, Seminole Electric Cooperative, announced a five-year plan to build a new natural gas-fired generating plant at its current Seminole Generating Station (SGS) facility in Palatka. The plan includes Seminole’s intention to shutter one of its two coal-fired generating units at the SGS site and enter into agreements to purchase power from other facilities that use solar and natural gas resources.

A key element of Seminole’s new long-term plan is increasing the diversity of fuel sources in its energy portfolio and generating mix. The decision is supported by continued natural gas market stability and historically low prices. Seminole is adjusting to the market by shifting its fuel mix to increase natural gas-fired power generation. This portfolio shift allows Seminole to meet the demand for more megawatts and provide safe, reliable, affordable power to its members while investing in a greener grid.

Seminole has invested over $530 million in environmental controls at its SGS facility, making it one of the cleanest coal plants in the United States. Clean-burning coal is a reliable and affordable means to produce energy, and portions of Seminole’s coal-burning generating plant will remain in use. When the presidency changes hands every four or eight years, the nation faces the possibility of new, costly regulations and policy changes aimed directly at reducing America’s dependency on coal. Additional policies and regulations usher in new expenses that risk increased energy rates and higher bills for members. Reducing coal use, however, reduces carbon emissions.

Similar to a financial portfolio with its mix of stocks and funds, Seminole’s expansion of fuel sources minimizes future risk and offers stability to its member-owners, including SECO. As your local not-for-profit electric cooperative with an expanding member base, we must embrace forward thinking ways to meet demand. Under Seminole’s new long-term plan, SECO can ensure an adequate supply of quality, reliable, affordable power is available to meet the current and future needs of our growing area.

Capital Credits

Build Membersʼ Nest Eggs

In November, SECO members are indeed lucky ducks – and you are much more than simply a consumer of energy. As a not-for-profit electric cooperative owned by our members, your annual purchase of energy builds a nest egg – your share of the company’s patronage capital.

A little bird flew in to tell you how it works: Your membership in SECO Energy builds ownership through your energy purchases. That ownership is defined through the annual process of allocating each member’s share of the co-op’s margins from the prior year. The annual amounts for each member who purchased electric service from SECO during that year are referred to as Capital Credits allocations.

Capital Credits are the accumulation of all prior year’s revenue after the co-op’s operating costs and expenses have been paid. These credits are allocated on a pro-rata basis to each SECO Energy member’s account as “Capital Credits” and represent a portion of the member’s patronage with the cooperative in the prior fiscal year.

During its September meeting with their ducks in a row, SECO’s Board of Trustees approved a record $5.4 million to be returned (retired) to members. Since SECO Energy’s inception, the co-op has retired more than $57.8 million to current and former members. This year’s Capital Credits return is made possible by the sound financial stewardship of SECO’s Board, leadership team and flock of dedicated, cost-conscious employees.

No wild goose chase here; each member receiving a Capital Credits retirement this year will see the amount on their November bill listed as a line item labeled “Capital Credit Ret.” Business members with retirements over $1,000 will receive an actual check. If you have questions about Capital Credits, visit SECOEnergy.com > Your Co-op > Capital Credits.

Energy Efficiency

The Centsible Weekend DIY

Do you plan to conquer your honey-do list this weekend? Add these inexpensive, DIY tasks to save energy and reduce your monthly electric bill. Now that’s centsible.

1. Seal doors and windows: Remove old, cracked caulking from windows, and apply new caulking around the joints and frame. Replacing worn weather-stripping around exterior doors keeps cool air in, and hot air out.
2. Reduce phantom loads: TVs, DVRs, cable boxes and home computers use power when turned “off.” Energy.gov reports phantom load can cost an average household up to $100 a year. What to do? Use power strips with multiple plug-ins, and turn them off when electronics aren’t in use.
3. Stop the leaks: Repair leaky faucets and fixtures that are not only wasting water, but causing your well and, if the leaking water is hot, your water heater to cycle on more often.
4. Build an outdoor clothesline: On average, a clothes dryer costs $.40 to dry one load of laundry. Skip the dryer and air-dry one load of laundry a day, and save almost $150 a year.
5. Vacuum refrigerator coils: Once a year, vacuum away dirt and dust collected on your refrigerator coils to keep it running efficiently. Coils are located on the bottom or back of the appliance, and don’t forget to always unplug the refrigerator before servicing.

For more centsible energy saving ideas, visit SECOEnergy.com.

Read the full November 2017 SECO News here.

SECO Earns Capital Credits from Gresco

SECO Energy’s customers are member-owners and SECO – like its members – is a member-owner of other cooperatively structured businesses.

GRESCO is one-such cooperatively owned business that is one of SECO’s premier partners. GRESCO is the cooperatives key utility supplier – the company stocks equipment and supplies to help SECO meet its ever-growing power demand.

On a yearly basis, SECO Energy returns/retires a portion of equity, called Capital Credits, to its members. Like SECO, GRESCO is structured as a not-for-profit cooperative and follows this practice as well. GRESCO returned a portion of SECO’s share of its margins to the cooperative in the amount of $152,929.

Todd McLellan, GRESCO’s General Manager Florida Division is proud of the partnership GRESCO has cultivated with SECO. McLellan stated, “Beginning in 2000, GRESCO and SECO have worked together to develop a long-term partnership. Right now, SECO is GRESCO’s largest equity owner.”

Jim Duncan, SECO Energy CEO stated, “GRESCO is one of our most valued and trusted partners. Because GRESCO is a cooperative like SECO, our partnership is even more special. As a not-for-profit electric cooperative, SECO Energy’s top priority is its members, and GRESCO shares that viewpoint as well.”

Duncan added, “Cooperation among cooperatives is a key cooperative principal. Two cooperatives working together – SECO and GRESCO – continue to strengthen the cooperative spirit.”

SECO Energy members receive Capital Credits from the cooperative as well. In November, SECO returned a record $5.1 million in Capital Credits to current and former members. Since inception, the company has returned more than $52.4 million to its members. Learn more about Capital Credits.

“Like” SECO’s Facebook page and “follow” on Twitter for news releases and cooperative updates.

SECO News, November 2016

Duncan’s Digest

Most people would equate a company giving money back to their consumers with flying pigs. However, SECO Energy is different. As a not-for-profit electric cooperative owned by our members, pigs really do fly this time of year – putting money back in your pocket with another record Capital Credit retirement.

Here’s how it works: Your membership in SECO Energy builds ownership through your energy purchases. That ownership is defined through the annual process of allocating each member’s share of the co-op’s operating margins from the prior year. The annual amounts for each member who purchased electric service from SECO Energy during that year are referred to as Capital Credit allocations.

During its September meeting, SECO’s Board of Trustees approved letting the proverbial pig fly with a record $5.1 million to be returned (retired) to members. Since SECO Energy’s inception, the co-op has retired more than $52.4 million to current and former members. This Capital Credits return is made possible by the sound financial stewardship of SECO’s Board, leadership team and employees. In a positive way, we really do reap what we “sow” – no pun intended.

Each current member receiving a Capital Credits retirement this year will see the amount on the November bill listed as a line item labeled Capital Credits. Visit our Capital Credits page if you have questions about Capital Credits.

2016 Hurricane Recap

Tropical Storm Colin made landfall in the late night hours on Monday, June 6. Colin is the first named storm to make landfall in Florida since Andrea in 2013. While Colin moved across the state, parts of SECO’s service area experienced tropical-storm-force winds and extended periods of heavy rainfall. Colin caused only a small number of outages in SECO’s area. Crews worked quickly and safely to restore these outages within hours.

Hurricane Hermine made landfall as a Category 1 hurricane in the Big Bend area on Friday, September 2. Hermine brought buckets of rain and high winds to the area, causing approximately 14,000 total service interruptions. Along with the hurricane, tornadoes touched down in Sumter County. Members in Marion, Levy and Citrus counties were hardest hit by Hurricane Hermine. The SECO team did a stellar job in quickly restoring power by midnight that Friday.

Hurricane Matthew became an extremely powerful Category 3 hurricane that hugged Florida’s east coast as it traveled north Thursday, October 6. Though Matthew didn’t make landfall in Florida, the storm brought rain and very strong winds to SECO’s service area. The hurricane accounted for approximately 28,000 outages for SECO members. The area hardest hit was east Lake County, which suffered extensive damage. Broken trees, damaged utility poles, flooding and roadway debris were challenges for SECO crews and contractors. By early Saturday afternoon, all SECO members’ power was restored.

SECO was Storm Ready and once again proved the team is the best-of-the-best. SECO enacted its emergency restoration plan and manned Customer Service and System Operations Centers round-the-clock until all restoration was complete. Members reported service interruptions online or called and spoke to a representative 24/7. Thousands of members reached out via Facebook and Twitter to ask questions about restoration and report unsafe conditions. Members on social media offered thanks, compliments, praise, prayers and well-wishes for the entire SECO team and the contractors working to restore power.

Thank you, SECO Energy members, for your patience and understanding, as well as your kind words, prayers and compliments – they are truly appreciated. Words cannot begin to express our gratitude.

Power Outage Safety

If a power outage occurs, contact SECO Energy right away. Don’t assume that someone else has already reported it, and don’t worry that we’re too busy. Every call and online outage report helps pinpoint the location and extent of an outage. Be sure to let us know if you see downed power lines or any damaged utility equipment. If there’s an immediate danger, call 911.

Don’t Use Candles

Avoid using candles during power out-ages – the risk of fire is too great. Use battery-powered lights, like a flashlight or LED lantern, for emergency lighting.

Protect Your Appliances

When a storm involves high winds or lightning, turn off and unplug as many appliances as possible (including your HVAC during a summer storm). This will prevent damage from a power surge when service is restored. After the storm has passed, flip the breakers back on, plug in and turn them on one at a time. Consider enrolling in our Surge Protection program.

Flood Dangers

If flooding occurs or is predicted in your area – do not use any electrical devices. Turn off the main circuit breaker or remove the primary fuse cartridge – but only if you can reach it without touching water.

To report outages quickly and easily online, bookmark Storm Center on your smartphone or tablet or call the outage hotline at (800) 732-6141.

Holiday Energy Savings

The holiday season is upon us. Decorating, holiday gatherings and gift buying are in full swing. Here are a few tips to keep your energy-saving efforts intact while enjoying all the festivities.

Decorate with LED holiday lights. LED lights are more efficient, last longer and are safer than standard incandescent lights. The initial purchase cost is higher, but LEDs use much less energy and produce a lot less heat.

Holiday gatherings usually mean a lot of cooking. Don’t peek inside the oven. Each time you open the oven door, the temperature drops by as much as 25 degrees – forcing the oven to use more energy. It’s not necessary to pre-heat the oven for baking times over one hour. You can turn off the burner 5 to 10 minutes before the dish is done on an electric stove-top. Keep the lid on until time is up.

When it comes to gift buying, consider purchasing ENERGY STAR qualified items. Electronics such as computers, TVs and other appliances are popular choices. ENERGY STAR qualified products may cost more up front, but they will save in energy use for years to come.

Area Light Out?

Do you or a neighbor have a SECO Energy area light that isn’t working properly? Is the light blinking, shining during daylight hours or off completely? Report area light problems day or night on our website. Lights are usually repaired within 72 hours. Have the pole number and location on hand if possible.

Expressions

Members expressed their appreciation for the SECO Team’s hard work during Hurricane Matthew’s aftermath via our websites Contact Us page.

Larry Grose – I’ve been dealing with the public for many years and I am aware of people being the first to complain and seldom to offer atta-boys. I just would like to ask that you pass this along to the proper personnel. I want to offer an atta-boy and sincerely thank those involved for their hard work and restoring power to the homes on Firefox Lane. Your work is greatly appreciated and you are an asset to your employer and community.

Clint Moseley – I wanted to take some time to say thanks for the hard work of the folks at SECO Energy. Hurricane Matthew came through my area and I only lost power once in the middle of the night, which I suspect may have been a maintenance issue. I really appreciate it so much. You guys are wonderful and I am very lucky to have such a dedicated group of people servicing my energy needs. Thank you again and I hope you get more letters of gratitude because you guys deserve it!

MY ACCOUNT

AMI

MEMBER PERKS

ENERGY SOLUTIONS

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ELECTRIC VEHICLES

SAFETY

VEGETATION MANAGEMENT

RELIABILITY

VEGETATION MANAGEMENT

MEMBER PERKS

YOUR CO-OP

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COMMUNITY

Archive

DUNCAN’S DIGEST

SAFE DECORATING

HOLIDAY ENERGY EFFICIENCY

TOYS FOR TOTS

Duncan’s Digest

Greener Grid – More Megawatts

Capital Credits

Build Membersʼ Nest Eggs

Energy Efficiency

The Centsible Weekend DIY

Duncan’s Digest

2016 Hurricane Recap

Power Outage Safety

Don’t Use Candles

Protect Your Appliances

Flood Dangers

Holiday Energy Savings

Area Light Out?

Expressions

Read the full November 2016 SECO News here.

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NEED HELP? CALL (352) 793 -3801

Search our website

CONNECT WITH US