During the May SECO Energy Board of Trustee meeting, SECO Energy Board President Gerald Anderson and CEO Curtis Wynn recognized longtime District 8 Trustee William (Bill) W. James, Jr. with a Certificate of Appreciation presented on behalf of the entire Board.
Mr. James is a longstanding resident of The Plantation in Leesburg and has been a SECO Energy member since 2002. He has served on the SECO Energy Board of Trustees since 2010 and served on the Seminole Electric Board of Directors from June 2016 through May 2022.
President Anderson stated, “The SECO Energy Board of Trustees wanted to formally recognize Mr. James’ distinguished service on the Seminole Electric Cooperative, Inc. Board of Directors over the last six years. His extensive experience and guidance supported Seminole’s strategic initiatives and kept SECO Energy’s Board informed of important information related to our wholesale power provider’s governance and operations.”
CEO Curtis Wynn echoed President Anderson’s sentiments and stated, “We are grateful for Mr. James’ hard work and dedication in support of SECO Energy’s ongoing mission to provide reliable, affordable and innovative energy services to our members and communities.”
SECO Energy’s Board of Trustees are members who live in SECO’s service territory. They are elected to oversee the governance of the cooperative. Each Trustee on the Board is elected by the members who reside in his/her District. Collectively, the Trustees are responsible for establishing, reviewing and revising corporate policies and approving the cooperative’s budget.
“Like” SECO Energy on Facebook and follow @SECOEnergy on Twitter for prize drawings, news releases, and severe weather alerts affecting SECO Energy’s service territory. Manage your outage notification preferences at StormCenter. To see when SECO Energy crews/contractors are working in your area, visit our new System Improvement Map. To learn more about SECO Energy as a not-for-profit cooperative, visit About SECO Energy.
During the May SECO Energy Board of Trustees meeting, SECO Energy Board President Gerald Anderson and CEO Curtis Wynn recognized District 4 Trustee Richard Dennison with a Certificate of Appreciation presented on behalf of the entire Board.
Mr. Dennison is a longstanding resident of Marion Oaks and has been a SECO Energy member since 1999. He has served on the SECO Energy Board of Trustees since 2015, served as Board President from March 2020 to March 2022 and also currently serves on the Seminole Electric Board of Directors.
President Anderson stated, “The SECO Energy Board of Trustees honored Mr. Dennison’s distinguished service as President of the SECO Energy Board of Trustees from March 2020 through March 2022. Mr. Dennison’s strong leadership during the pandemic maintained the continuity of our governance processes. During his tenure, the Board of Trustees was required to exercise flexibility and perseverance, and he led that charge with grace and dignity.”
CEO Curtis Wynn echoed President Anderson’s sentiments and stated, “We are grateful for Mr. Dennison’s hard work and dedication in support of SECO Energy’s ongoing mission to provide reliable, affordable and innovative energy services to our members and communities.”
SECO Energy’s Board of Trustees are members who live in SECO’s service territory. They are elected to oversee the governance of the cooperative. Each Trustee on the Board is elected by the members who reside in his/her District. Collectively, the Trustees are responsible for establishing, reviewing and revising corporate policies and approving the cooperative’s budget.
“Like” SECO Energy on Facebook and follow @SECOEnergy on Twitter for prize drawings, news releases, and severe weather alerts affecting SECO Energy’s service territory. Manage your outage notification preferences at StormCenter. To see when SECO Energy crews/contractors are working in your area, visit our new System Improvement Map. To learn more about SECO Energy as a not-for-profit cooperative, visit About SECO Energy.
SECO Energy has been recognized as a Tree Line USA Utility for 2022 by the Arbor Day Foundation. Tree Line USA recognizes public and private utilities who take part in activities that protect and enhance America’s urban forests. This is the fifteenth year SECO Energy has earned the Tree Line USA distinction.
Tree Line USA is a national program recognizing public and private utilities for best practices that protect and preserve America’s urban forests. This program is possible through a partnership with the Arbor Day Foundation and the National Association of State Foresters. Tree Line USA promotes the coexistence of delivering safe and reliable electricity while maintaining healthy community trees.
SECO Energy achieved five program standards to be recognized as a Tree Line USA utility. Utilities must follow industry standards for quality tree care; provide annual worker training in best tree care practices; sponsor a tree planting and education program; maintain a tree-based energy conservation program; and participate in an Arbor Day celebration.
2022 is the 150th Anniversary of Arbor Day which is celebrated the last Friday of April. The Arbor Day Foundation is celebrating its 50th Anniversary this year. Since the Foundation’s beginnings, it has helped to plant and distribute almost 500 million trees in over 50 countries worldwide. Learn more about Arbor Day and its mission.
“Trees are essential to creating more urban green spaces in communities across the United States,” said Dan Lambe, chief executive of the Arbor Day Foundation. “In addition, they provide important benefits to residents, including clean air, clean water, and vital tree shade. Service providers like SECO Energy demonstrate how easily trees and utilities can co-exist for the benefit of communities and residents.”
CEO Curtis Wynn congratulates SECO Energy’s team for their continued Tree Line USA recognition. Wynn stated, “Congratulations to the Vegetation Management team for upholding the Arbor Day Foundation’s Tree Line USA standards for 15 years. This is quite an accomplishment, and we are very proud of your dedication to quality tree care. SECO Energy invests heavily in its vegetation management program and follows best practices to safely maintain our existing rights of way and reduce power outages.
Wynn continued, “SECO Energy strives to be a good environmental steward. Properly maintained, healthy trees, that are planted in the right place, can help SECO members reduce their yearly energy costs.”
Visit Right Tree Right Place for tips on planting trees away from power lines and how trees can help reduce yearly energy costs. SECO Energy has also developed online energy efficiency tools to help members reduce energy use and costs. The Home Energy Assessment is an online energy audit tailored to the individual member’s home and lifestyle. Members input their home details and submit their email address to receive no-cost and low-cost tips to increase energy efficiency and lower their electric bills. The Energy Estimator calculates the cost of common household electronics found in most homes. Members who submit their data receive energy-efficiency suggestions and more ways to save.
“Like” SECO Energy on Facebook and follow @SECOEnergy on Twitter for prize drawings, news releases, and severe weather alerts affecting SECO Energy’s service territory. Manage your outage notification preferences at StormCenter. To see when SECO Energy crews/contractors are working in your area, visit our new System Improvement Map. To learn more about SECO Energy as a not-for-profit cooperative, visit About SECO Energy.
SECO Energy Chief Executive Officer Curtis Wynn addressed the Sumter County Chamber of Commerce at the April 20 meeting held at The Villages Rohan Recreation Center in Wildwood.
Mr. Wynn was joined by SECO Energy Board of Trustee Officers Jerry Anderson (President) and Joyce Anderson (Secretary/Treasurer) and was introduced by SECO Energy’s Manager of Key Accounts & Revenue Programs Jeff Light. Jeff is a Chamber board member and is honored to be named volunteer of the year by the Chamber.
Coincidentally, Mr. Wynn and wife Selene recently became Sumter County residents. Just before the move, Mr. Wynn hosted the 2022 SECO Energy Virtual Annual Meeting and was eager to spread the “state of the company” news in person with the Sumter Chamber members. The overview included a review of rising capital and maintenance costs that are causing rate and fuel cost pressure for SECO Energy members. Supply chain issues were covered in detail, along with the labor shortage that is affecting so many businesses across the county, state and the nation.
Industry-related topics like solar energy, technology advancements in metering and electric vehicle potential were also part of Mr. Wynn’s presentation at the Chamber and during the Virtual Annual Meeting. To hear from Mr. Wynn and to win one of five prizes SECO Energy members can watch the 2022 Virtual Annual Meeting video and answer the question at SECOEnergy.com by clicking on the homepage banner. Enter before June 15 for a chance to win one of the following prizes:
• $500 SECO Energy bill credit
• $250 SECO Energy bill credit
• Nest Learning Thermostat
• HoneyWell Wi-Fi Thermostat
• 2021 Apple TV HD
“Like” SECO Energy on Facebook and follow @SECOEnergy on Twitter for prize drawings, news releases, and severe weather alerts affecting SECO Energy’s service territory. Manage your outage notification preferences at StormCenter. To see when SECO Energy crews/contractors are working in your area, visit our new System Improvement map. To learn more about SECO Energy as a not-for-profit cooperative, visit SECOEnergy.com>Your Co-op>About.
Over the last decade, SECO Energy has been on a fast-growth pace while operating with strong fiscal responsibility. Unlike other parts of the country, COVID did not slow the need for infrastructure expansion across SECO’s service territory.
The Sunshine State added more than 221,000 residents from other U.S. states between July 2020 and July 2021, according to the latest population estimates from the Census Bureau. That’s Florida’s largest gain in residents since 2005. Data compiled by Move.org shows Florida is the number one state people moved to in 2020 and 2021.
This expansion and growing demand for power will likely be our norm for a while. March 2022 challenged SECO with the highest monthly number of new services in 15 years.For SECO, this growth is occurring in the residential, commercial and industrial sectors.With the traffic and construction around Sumter County, residents might think that The Villages growth is highest across SECO’s service territory. That’s not the case. In 2021, Lake and Marion Counties grew 35 and 37 percent, respectively.
With the significant amount of growth in our three largest counties, the following three elements are necessary to viably keep pace with the activity in SECO’s service territory – and maintaincompetitive rates in the process: 1) financial capability, 2) a talented SECO team, supported by stable contract labor and consistent access to material and equipment, and 3) since we do not generate and transmit power, we must be able purchase competitively-priced wholesale power that we can sell to our members. These threeelements are critical to our success.
SECO’s 2021 Annual Report was recently published at SECOEnergy.com, and the utility’s financial position is strong. But the growth and major investments that come with this growth during a time of record inflation challenge our ability to maintain flat rates while we preserve reliable service.
Last year, SECO members consumed over 3.68 billion kilowatt hours of electric power – an increase of almost 40 million kilowatt hours compared to 2020. To support the growth in our area and increasing demand for energy, our investment in facilities has topped over $1 billion. This ongoing facilities investment averages over $6 million per month.However, we are all aware that the Federal Reserve is anticipating several interest rate hikes this year. This has our attention since we know that SECO and our funders are not exempt from the cost impact of this policy.
Leading Power generation, now and in the future. Seminole maintains a balanced and diversified portfolio of energy resources.
Like all utilities, SECO continues to manage supply chain constraints due to the pandemic aftermath caused by shortages of raw materials, lack of labor, shipping delays and increased demand for utility products. The most challenging procurements are transformers, PVC pipe, meter boxes and equipment that relies on microchips.
As a result, SECO’s inventory planning and operating model has necessarily shifted to operating around available materials. These materials constraints increase cost of inventory and price escalation beyond normal inflation. In 2021, SECO absorbed immediate cost increases without negatively impacting members’ rates in hopes of quick economic recovery. 2022 is a different story.
Meeting business targets and member requests in today’s economic environment is gaining in complexity. SECO anticipates the continuation of cost increases and supply chain interruptions. Ultimately, these factors will result in members paying more for their energy needs. Roughly seventy cents out of every dollar spent is to purchase wholesale power. In partnership with our wholesale power provider Seminole Electric Cooperative, SECO strives to minimize impact on our members and keep rates affordable and competitive.
Without question, your electric service is supported by a large, robust and well-maintained infrastructure that distributes power generated by Seminole. In recent years Seminole has taken steps to discontinue operating one of its coal units and replacing it with a natural-gas facility. Seminole continues to operate its 2.2-megawatt community solar farm and is adding more renewable energy to its portfolio.
With these strategic changes, Seminole’s power production shifts dramatically away from 42% coal in 2020 to just 8% by 2024. Its use of natural gas increases from 28% in 2020 to 73% in 2024. Renewables are planned to double by 2024, but only account for 8% of the electricity Seminole generates for SECO and its other eight member cooperatives. When these strategic operational and environmental decisions were made prior to 2020, the cost of operating coal-fired units was not as cost effective as using natural gas to produce electricity – nor was it as environmentally effective.
Since 2020, domestic and global events and the resulting economics have driven energy prices up. Oil prices have been on the rise since mid-2020, and consumers are paying significantly more at the pump. The natural gas market is affected as well. Seminole’s shift to a larger portion of its portfolio generating from natural gas has financial consequences.
The Energy Information Administration estimates that the wholesale spot price of natural gas in 2022 will reach an eight-year high. That market volatility will affect the cost of Seminole’s production of power and ultimately will reflect on members’ bills.
This impact is already upon us. Members who read SECO News and review their electric bill each month are aware of a line item referred to as the PCA – or Power Cost Adjustment factor. This calculation allows SECO to adjust for the rise or fall of fuel costs in real-time without formally adjusting rates. This is a common utility practice. As a not-for-profit utility, it prevents the over or under collection of funds from consumers.
In April, the price of natural gas and SECO’s wholesale bill from Seminole caused SECO to raise our PCA from $121.00 per thousand kilowatt hours to $128.05. Despite this fuel pass through increase, I ask that you continue reading to learn how competitive SECO’s rates are to other utilities in our area and nationally and what other steps we are taking to reduce costs.
Sincerely,
Curtis Wynn
Chief Executive Officer
Rate Stack Up
Over the last 33 years SECO’s rates have risen just 30% or slightly less than 1% per year on average. According to the Energy Information Administration, the national average rate increase for electric utilities is 45%, one and a half percent per year, which is over a half percent more per year than SECO. The cooperative has clearly remained competitive.
2022 ANNUAL MEETING CONTEST
Did you miss our live 2022 Annual Meeting webcast on March 24?To watch the video, visit SECOEnergy.com and click on the Watch and Win! 2022 Annual Meeting Video homepage banner. Watch the video with the President’s Report from Richard Dennison and the CEO Report from Curtis Wynn and answer one question for a chance to win.
Which state did Curtis Wynn say was 2nd in theentire country in electric vehicle ownership?
1. California
2. Texas
3. Florida
4. New York
5. Arizona
Prizes:
$500 SECO Energy bill credit
$250 SECO Energy bill credit
Nest Learning Thermostat
HoneyWell Wi-Fi Thermostat
Apple TV HD
Complete the webform to enter the drawing. Prize winners will be drawn from all correct submissions on June 15, 2022, and winners notified by email or phone. SECO Energy membership must be active at the time of drawing.
Good luck!
AMI-Investment in Future Cost Savings
Moving into the future and understanding the supply chain and labor issues, the SECO Energy Board of Trustees has approved investing in technology that will save money and improve reliability over time.
SECO is one of a very few large, fast-growing utilities in the state or in the nation for that matter that has not deployed Advanced Metering Infrastructure (or AMI) throughout its service territory. The cooperative is conducting two pilot projects to test the viability of deploying AMI on our system and is preparing to decide on a vendor to deploy the AMI technology that will improve operations and reduce costs in a variety of ways.
Currently, SECO pays contractors to read meters on the more than 220,000 homes and businesses across the seven counties we serve. Because we don’t currently have Advanced Metering Infrastructure in place, many of our processes are manual – and costly.
With AMI, the projected savings are significant savings coming from eliminating the high cost of manually dispatching trucks and contracted employees to read meters every month and from reducing the time and cost it takes to more quickly detect and restore power outages.
Learn more about AMI benefits for you, our members, in the Annual Meeting video posted on our website, Facebook and YouTube. Watch for updates in SECO News and at SECOEnergy.com.
The SECO Energy Board of Trustees elected 2022 Officers at its Trustees’ Meeting on Monday, March 28. District 3 Trustee Gerald Anderson was elected as Board President. District 1 Trustee Scott Boyatt was elected as Board Vice President. District 2 Trustee Joyce Anderson was elected to serve another term as Board Secretary/Treasurer.
Newly elected Board of Trustees President Gerald Anderson lives in The Villages and formerly served as Board Vice President. A SECO Energy member since 2013, Trustee Anderson was first elected to the Board of Trustees in May 2019.
Newly elected Board of Trustees Vice President Scott Boyatt lives in Clermont. Trustee Boyatt has been a SECO Energy member since 2004 and represents the members of District 1. Mr. Boyatt was first elected to the SECO Energy Board of Trustees in 2013.
Current Board of Trustees Secretary/Treasurer and District 2 Trustee Joyce Anderson resides in Sumterville. Mrs. Anderson was elected to the Board in February 2020 and has been a SECO member since 2017.
SECO Energy CEO Curtis Wynn congratulated the 2022 Board of Trustees officers. Mr. Wynn stated, “Congratulations, Mr. Anderson and Mr. Boyatt on your new positions as Board President and Vice President respectively, and congratulations, Mrs. Anderson on your re-election as Board Secretary/Treasurer. I thank you and your Board peers for your collective service to the SECO Energy membership. I look forward to working with each of you to continue the success of our not-for-profit electric cooperative as SECO embraces new technologies to lead us into the future.”
The SECO Energy Board of Trustees welcomed Shannon Wright as the newly elected District 5 Trustee. Mrs. Wright lives in Lake Panasoffkee and was elected in February. She has been a SECO member since 2014.
“Like” SECO’s Facebook page and follow @SECOEnergy on Twitter for member contests, news releases, cooperative updates and severe weather alerts affecting SECO Energy’s service territory. To learn more about SECO Energy, visit our About SECO website section.
Whether you’re a new member or a longtime member, SECOEnergy.com offers interactive tools for a variety of needs from reliability/expansion project maps to energy-efficiency and solar calculators to the bill payment assistance map and more.
I’m proud to announce the launch of our newest interactive tool that displays when SECO crews and/or contractors are working in your area to improve existing electric facilities and to build new infrastructure to support growth in the residential, commercial and industrial sectors of our service territory. The System Improvement Map displays both Reliability Projects and Expansion Projects built on a platform that allows members to enter their service address and view events occurring in their area that improve reliability and expand the growing electric system. The map also provides a broad view of planned work underway across SECO Energy’s service territory. You’ll find these brand new tools at SECOEnergy.com > Contact Us > System Improvement Map.
RELIABILITY PROJECTS MAP
The first tab on the map is Reliability Projects which includes vegetation management assessments and trimming, facilities inspections, pole replacements, voltage conversions, substation maintenance, area light and underground equipment maintenance and many more projects that improve the quality of electric service. Each reliability project type is represented by an icon. Click on the icon for an explanation of the work, status and project duration dates. The “Additional Info” hyperlink provides more details including possible associated planned outages for crews to work safely.
But it’s more than just an online, interactive map. It is complemented by a communications system that generates emails, text and/or voice notifications to members proactively letting them know about the work scheduled to occur in their vicinity.
The Reliability Map is searchable by clicking the icons to display greater detail about a particular project. Or input your service address in the search bar in the top left corner of the map. Click on your address when it appears and the map zooms to your location. Zoom out using the minus button on the map to view project work boundaries in or near your service address.
EXPANSION PROJECTS MAP
At yearend 2021, SECO’s investment in electric facilities topped $1 billion. Currently, we are investing more than $6 million per month to maintain our current facilities and build new infrastructure to support growth. The Expansion Projects tab on the map displays where these dollars are spent on building new infrastructure. Work types include new substations, new towers for radio communications, substation upgrades and tower/radio upgrades.
You will notice on the Expansion Projects map that five SECO substations are currently undergoing significant upgrades: Astatula (Lake County), Dallas (Sumter/Marion Counties), Gospel Island (Citrus County), Lake Ella (Sumter/Lake County) and Timberwood (Marion County). You can search using your address on this map also or filter by county.
If you have questions about Reliability or Expansion Projects, click the FAQ tab or use the Contact Us tab to drop us a line. We typically respond within two business days. You can also reach out to us using the links to SECO’s Facebook and Twitter platforms. Follow us on social media for cooperative events, promotions, prize drawings and news releases.
SERVICE TERRITORY MAP
As a returning Florida resident, I’ve been shopping for a home in SECO’s service area. Another online, interactive SECO tool that has been a tremendous help to me personally is our Service Territory Map. It helped me determine if a home I was interested in was within the service territory. I’ve even shared the link with my realtor. If you’re relocating and want to live in our service area, visit our Service Territory Map to verify SECO serves the property you’re considering.
FIND BILL PAYMENT ASSISTANCE
Members who need a little help paying their bill will quickly find local social service agencies that have funding specifically allocated for SECO members. Visit SECOEnergy.com > Contact Us > Find Bill Payment Help to locate the map and resources. You’ll find local agencies across the counties we serve that receive funds from our Pennies from Heaven charitable program, along with funding from other resources such as LIHEAP, EHEAP and more. You can search for an agency by county, service address or scroll through the list on the left-hand side of the map. Agency phone numbers, locations and website addresses are listed for easy access to bill payment assistance contacts.
We’re proud of our beginning as a small rural electric cooperative. Over the last 84 years, SECO Energy has become one of the largest and fastest-growing cooperatives in the nation. We’re also an innovative not-for-profit cooperative that is preparing for a challenging future. I hope you give our new interactive tools a try. Read next month’s SECO News to learn more about online energy efficiency tools like the Home Energy Assessment and the Energy Estimator.
Exciting things are happening at SECO Energy, and it is our privilege to provide reliable, affordable, and innovative energy services to our members and communities.
Best regards,
Curtis Wynn
Chief Executive Officer
Contractors TRC, Charter and Lumens/CenturyLink Completing Broadband Projects in SECO’s Service Area
You will likely see three new broadband contractors out and about in your neighborhoods. This is not a SECO Energy project. The three contractors TRC, Charter and Lumens/CenturyLink are using SECO’s existing utility poles to attach broadband communication lines to expand broadband in Central Florida. We collect a rental fee from them and other utilities for attaching to our utility poles.
This work is funded by the $20 billion Federal Communications Commission’s (FCC) Rural Digital Opportunity Fund (RDOF) intended to spread and increase broadband speeds to underserved areas. This massive broadband project will be ongoing for three years.
TRC is working in conjunction with SECO to obtain and process permits for the pole attachments so that Charter and Lumens/CenturyLink can begin the work of adding broadband fiber and cable.
All contractor vehicles display a SECO Authorized Contractor logo and carry company identification. We have a list of authorized SECO contractors online at SECOEnergy.com >Your Co-op > Contractors. If you have questions about RDOF, visit www.RDOF.com.
Power Cost Adjustment
According to the U.S. Energy Information Administration’s (eia.gov) Henry Hub Natural Gas Spot tracker, the price for natural gas has risen from $2.71/MM per BTU in January 2021 to $4.38/MM per BTU in January 2022. This is an almost 62% increase. Unfortunately, it doesn’t appear that the price for natural gas will reduce anytime soon.
The natural gas price peak was $5.51/MM BTU in October 2021 and SECO Energy held its Power Cost Adjustment (PCA) factor stable. With the current volatility of the natural gas market, it is time to make a change. The EIA estimates that the wholesale spot price of natural gas in 2022 will reach an eight-year high. Market unpredictability will affect the cost of power we purchase from our wholesale power producer, Seminole Electric Cooperative and ultimately will reflect on member bills.
As of April 1, 2022, the PCA credit will decrease raising the cost for 1,000 kilowatt hours (kWh) to $128.05. This is a total increase of 5.8%. We will keep you informed of future pricing changes.
Thank a Lineman License Plate
Members can show their support for the thousands of Florida lineworkers and utility personnel who restore power to millions of Floridians after devastating natural disasters by ordering a “Thank a Lineman” license plate. The 2020 Florida Legislature approved the plate after Governor Ron DeSantis signed HB 1135 into law.
This cause is local and benefits a key SECO Energy employee recruitment partner. For every “Thank a Lineman” plate sold, $25 goes to Lake-Sumter State College (LSSC) to support their Electric Utility programs. According to LSSC’s website (www.lssc.edu), the college is ranked in the top 150 Community Colleges nationally. Their student job placement or continuing education rate is 97%. The scholarship boost is an exciting opportunity for LSSC, utility personnel across the state and cooperative members.
Reserve your plate today by purchasing a pre-sale voucher. Purchase avenues vary from county to county. Contact your local county tax collector’s office for guidance or visit myfloridaspecialtyplate.com/lineman-order.html, where you can pay for the pre-sale voucher and process your order online. Learn more at www.thankalineworker.com.
The actual “Thank a Lineman” license plates will be available once the pre-sale threshold is met.
SECO Energy held its 84th Annual Meeting of the Membership on March 24, at 4:30 p.m. for a virtual crowd of members and guests. This is the third virtual meeting since 2020 when COVID restrictions cautioned against holding large gatherings. The cooperative’s exceptional member growth has resulted in what could potentially become an unmanageable situation if a small percentage of the 500,000 SECO members and their guests accepted our invitation to come and enjoy the traditional festivities hosted on our campus, which only has an 8,000-to-10,000-person meeting capacity.
Hundreds of members tuned in via live webcast, Facebook live and YouTube to watch the cooperative’s Virtual Business Only Annual Meeting. Since the meeting content remains available on SECOEnergy.com, even more are viewing the meeting after-the-fact at their leisure.
Board of Trustees President and District 4 Trustee Richard Dennison called the Meeting to order and closed the voting platform at 4:30 p.m. Board of Trustees Vice President and District 3 Trustee Gerald Anderson led the virtual audience in the Pledge of Allegiance and the National Anthem. SECO’s VP of Corporate Communications and Energy Services Kathryn Gloria led the invocation, introduced the Trustees, and welcomed District 5 Trustee-elect Shannon Wright, who will begin her duties at the Trustees’ Meeting on Monday, March 28. Ms. Gloria also introduced CEO Curtis Wynn and Cooperative Attorney Scott Gerken. Board of Trustees Secretary/Treasurer and District 2 Trustee Joyce Anderson certified the Official Annual Meeting Notice that was delivered timely to all cooperative members per the terms of the Bylaws.
Mr. Dennison’s President’s Report opened with a welcome to the virtual audience. He thanked the members who voted electronically, in person, by phone or by mail, and announced that SECO achieved a quorum by virtue of votes cast on Annual Meeting business. Mr. Dennison stated, “Florida cooperatives are required by statute to hold an Annual Meeting and must achieve a quorum to conduct official business. I am happy to announce that member voting participation has indeed helped us achieve a quorum this year. Thank you so much to all who cast a vote this year.”
Mr. Dennison also introduced SECO Energy’s new CEO Curtis Wynn. President Dennison stated, “Mr. Wynn was hired by the board last year and joined us in December. His energy industry career is rooted in Florida. From 1981 to 1997, he worked at West Florida Electric Cooperative. Mr. Wynn also served for 24 years as President and CEO of Roanoke Electric Cooperative in North Carolina. Mr. Wynn’s resume reflects a long list of awards and accomplishments showing a history of supporting creative solutions that are turning the challenges of the energy industry evolution into major opportunities.”
Following the President’s Report, CEO Curtis Wynn began his report. Wynn provided the membership an impressive list of recently completed and upcoming projects under consideration at SECO Energy.
Mr. Wynn also expressed SECO’s commitment to maintaining and upgrading its existing electric facilities to serve current members while constructing new electric infrastructure to fulfill new growth and development needs.
Mr. Wynn stated, “With growth rates averaging nearly 40% in our three largest counties (Sumter, Lake and Marion), we must have the following five elements in place to viably keep pace with the growth in SECO Energy’s service territory: 1) the financial capability, 2) SECO staffing, 3) stable contract labor, 4) material & equipment supply chain consistency and 5) competitive wholesale power costs.”
Wynn continued, “SECO’s financial position is strong but the growth we are experiencing and the major investments that come with this growth challenge our commitment to preserve reliable and affordable service. At yearend 2021, SECO Energy added 5,770 new meters, which brings our total active meter or service count to 222,188. To support the growth in our area and increasing demand for energy, our investment in facilities topped over $1 billion. This ongoing facilities investment averages over $6 million per month.”
The CEO Report also mentioned being challenged by supply-chain shortages and talked about the wholesale power provider’s (Seminole Electric Cooperative’s) shift to a larger portion of its portfolio generating from natural gas and renewables. He continued by emphasizing that the natural gas market is affected like the oil market. The Energy Information Administration estimates that the wholesale spot price of natural gas in 2022, will reach an eight-year high. That market volatility will affect the cost of Seminole’s production of power and ultimately will reflect on members’ bills through the Power Cost Adjustment (PCA) factor as of April 1.
Wynn announced the SECO Energy Board of Trustees has approved taking steps to implement an Advanced Metering Infrastructure (AMI) project. Wynn stated, “SECO is one of a very few large, fast-growing utilities in the state or in the nation for that matter that has not deployed AMI throughout our system. We are in the midst of two pilot projects to test the viability of deploying AMI in our service territory. As we move to the completion of these, we are now preparing to decide on a vendor with whom we will work to deploy the AMI technology that will help us improve our operations in a variety of ways.” Wynn concluded his remarks by acknowledging the Board of Trustees’ service, his staff’s unwavering support and the 400+ SECO Energy employees’ commitment to serving the members and surrounding communities in a safe and professional manner.
Cooperative Attorney Scott Gerken certified the 2022 Annual Meeting voting results. In total, 8,952 members voted on 2022 Annual Meeting business which was approval of the 2021 Annual Meeting Minutes, which entailed 8,635 members voting “Yes,” 39 members voting “No,” and 278 members abstaining. Mr. Gerken announced, “The membership clearly approves the 2021 Annual Meeting Minutes.”
SECO Energy established a special phone number, email address and social media presence for the Virtual Annual Meeting. A panel of SECO employees interacted with members who posed questions and comments that were read and answered during the meeting by CEO Curtis Wynn and members of the senior staff.
The meeting ended with the announcement of prize winners. All members who voted on Annual Meeting Business were entered into the random drawing for one of 100 prizes. Shawn Matthew from The Villages won the 2012 Chevy Colorado Extended Cab. Geoffrey White from The Villages won the 2019 EZGO golf cart. The three $1,000 winners are Susan Roberts from Deland, Beverly Dearden from Inverness, and Morton Finkelstein from Ocala. Elizabeth Estavanko from The Villages won the Generac generator. Other prizes including SECO bill credits, Nest learning thermostats, energy-efficiency kits, HoneyWell smart thermostats and more will be shipped directly to winners. SECO will arrange for delivery of grand prizes. View the complete list of prize winners.
A complete video of the program is available at SECOEnergy.com, Facebook and YouTube.
“Like” SECO’s Facebook page and “follow” @SECOEnergy on Twitter for member contests, news releases, cooperative updates and severe weather alerts affecting SECO Energy’s service territory. Visit SECOEnergy.com>Your Co-op>About SECO to learn more about SECO Energy.
SECO Energy CEO Curtis Wynn has been honored with the Clyde T. Ellis Award at this year’s PowerXchange in Nashville, Tennessee. PowerXchange is the National Rural Electric Cooperatives Association’s (NRECA) annual meeting.
The Clyde T. Ellis Award is the preeminent electric cooperative award. According to the NRECA, the Clyde T. Ellis Award pays tribute to the NRECA’s first general manager/CEO. NRECA’s Board of Directors awards individuals whose contributions promote the seven cooperative principles and progress rural electrification while developing and using national resources.
CEO Curtis Wynn is a 40-year energy-industry veteran. He joined SECO Energy on December 15, 2021. Previously, Mr. Wynn served as President and CEO of Roanoke Electric Cooperative beginning in 1997. He began his career at West Florida Electric Cooperative in 1981. His tenure culminated there as Vice President of Member Services, Information Technology, Marketing and Economic Development. Mr. Wynn holds a Bachelor of Science Degree in Business Administration and Management Information Systems from Troy University.
Mr. Wynn is honored to receive the Clyde T. Ellis Award from the NRECA. Wynn stated, “I want to express my thanks to the NRECA Board of Directors for honoring me with this year’s Clyde T. Ellis Award for exceptional cooperative service. I am truly humbled to receive one of our electric cooperative communities’ highest honors. This honor ranks as among the highest that I’ve had in my years of service.”
Wynn continued, “To be recognized by peers to be deserving of this award is a highlight of my tenure in the cooperative program. To be presented with the award in front of so many cooperators just puts the icing on the cake.”
SECO Energy is a not-for-profit electric cooperative that serves over 220,000 homes and businesses in seven counties in Central Florida. SECO is the third-largest electric cooperative in Florida and the seventh largest in the nation. The Cooperative has received national attention and three J.D. Power trophies for its exceptional customer satisfaction rankings. In the 2015 J.D. Power study, SECO Energy was ranked “Highest in Customer Satisfaction Among Midsize Utilities in the South.” And in 2016 and 2017, SECO was ranked “Highest in Customer Satisfaction Among Cooperatives.” SECO Energy’s 2021 American Customer Satisfaction Index (ACSI) score is 91.
“Like” SECO’s Facebook page and follow @SECOEnergy on Twitter for member contests, news releases, cooperative updates and severe weather alerts affecting SECO Energy’s service territory. Visit SECOEnergy.com>Your Co-op>About SECO to learn more about the Central Florida not-for-profit electric cooperative. SECO Energy is an equal opportunity provider and employer.
SECO Energy is experiencing accelerated growth in the residential, commercial and industrial sectors while operating with strong fiscal responsibility. Florida is amid a population uptick. We expect the expansion potential and increasing energy demand to be our norm for a time.
In 2021, we added upwards of 5,700 new active services systemwide. This level of growth in our service area and Central Florida is exciting, challenging and has a positive effect on our financial position. SECO must meet the increasing demand for energy, maintain existing infrastructure and preserve reliability. SECO is very busy keeping up with our growing region and maintaining our existing infrastructure to serve you.
As a not-for-profit cooperative, significant financial investments are made to serve new members and improve your service reliability. At yearend 2021, SECO’s investment in facilities topped over $1 billion and continues to grow. This ongoing facilities’ investment averages over $6 million per month.
We have retained our position as the third-largest Florida electric cooperative and seventh largest nationally out of about 800 distribution co-ops. Among our co-op peers, a growing infrastructure supporting more than 220,000 metered accounts is extraordinary. Our facilities include 48 substations and 13,000 miles of line to reliably serve members.
This past year, with Board of Trustees approval, SECO returned $6.46 million in Capital Credits to current and former members. Since inception, SECO has returned over $80 million in Capital Credits. Assigning and returning margins to our members makes us different from other electric utilities. This is what we like to call “the cooperative
difference.”
We control costs, maintain healthy equity, return excess margins like a true co-op should, and provide competitive rates. It is clear there is a difference when serving members in a not-for-profit environment. And that’s the cooperative difference.
We pledge to provide you with the most reliable and lowest cost electricity possible while not losing sight of the high premium you place on customer service.
Best regards,
Curtis Wynn
Chief Executive Officer
Virtual Business Only 2022 Annual Virtual Meeting
Members, tune in to watch our 84th Annual Meeting live via virtual webcast on Thursday, March 24, at 4:30 p.m. To access the meeting, click on the Virtual Business Meeting homepage banner on SECOEnergy.com. Links to the webcast will also be published on Facebook, Twitter, YouTube, and Instagram.
Though this year’s meeting is a virtual business-only Annual Business Meeting, we need your vote to approve the 2021 Annual Meeting Minutes. You can vote on Annual Meeting business by mail, electronically or by phone. All members who cast a vote are counted as present in person for determination of quorum as stated in the Bylaws Article III, Section E, #4.
We have 100 great prizes up for grabs! All members who vote on Annual Meeting Business (2021 Annual Meeting Minutes) are eligible to win a prize. The grand prizes are a 2012 Chevrolet Colorado Extended Cab truck, a 2019 EZGO TXT gas-powered golf cart and three $1,000 cash prizes. Other prizes include SECO Energy electric bill credits, Wi-Fi programmable thermostats, energy savings kits and more!
Review the list of prizes on page three. To cast your vote electronically, visit SECOEnergy.com and click on the 2022 Virtual Business Meeting Vote homepage banner or text VOTE to (352) 320-2200 and follow the link. To vote by mail, fill out the ballot in your 2022 Official Annual Meeting Notice and enclose it with your electric bill payment.
To vote by phone, call (352) 793-3801 and an agent will assist. Do you have a comment or question for us? Engage with SECO Energy during the 2022 Annual Business Meeting, and your question or comment may be addressed live. Drop us a note via email at SECO2022AM@SECOEnergy.com, give us a call at (352) 329-MEET (answered on March 24 only) or send a message on Facebook or Twitter starting at 3:30 on March 24.
Good luck, and thank you for voting! We’ll see you virtually on Thursday, March 24, at 4:30 for our 84th Annual Meeting.
2022 Annual Business Meeting Prize List
2012 CHEVROLET COLORADO EXTENDED CAB TRUCK
2019 EZGO TXT GAS-POWERED GOLF CART
$1,000 CHECKS (3)
GENERAC GENERATOR
$250 SECO ELECTRIC BILL CREDITS (5)
NEST LEARNING THERMOSTATS (10)
HONEYWELL SMART THERMOSTATS (10)
PREMIUM ENERGY SAVINGS KITS (5)
SENSI SMART THERMOSTATS (10)
$100 SECO ELECTRIC BILL CREDITS (5)
LUX SMART THERMOSTATS (10)
SURGE MITIGATOR SURGE PROTECTION 1-YEAR LEASE (5)
RADIO SMART THERMOSTATS (10)
SMART POWER STRIPS (5)
ENERGY SAVINGS KITS PLUS (5)
AMAZON ECHO DOTS (4)
12-PACK LED LIGHT BULBS (5)
STARTER ENERGY-EFFICIENCY KITS (5)
Celebrate 25 Years of our Surge Protection Program with Free Installation
SECO Energy is celebrating 25 years of its Surge Protection Program with savings for you! We’re offering free installation for all new Surge MitiGator enrollments until May 31. That’s a $25 savings for you during our 25th Surge Protection Anniversary.
SECO’s made in the USA meter-based surge arrester has proven reliable over the past 25 years by reducing or eliminating surges BEFORE they enter your home through the meter. More than 40,000 members are already enrolled in the program.
The Surge MitiGator has a beastly 15-year warranty and is designed to protect your home’s large-motor appliances. Household appliances and sensitive electronics such as televisions and computers can be damaged or destroyed by power surges. These also require point-of-use devices that can be purchased at hardware or big-box retailers for adequate coverage.
Start at the meter base with the Surge MitiGator for the best protection. You can lease the MitiGator for only $5.95 plus tax per month with free installation – a $25 savings. The purchase price ranges from $349 to $399 plus tax – and this includes free installation. Visit SECOEnergy.com > Surge MitiGator and complete the webform to learn more or enroll during this limited free installation promotion.
