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SECO News August 2024

 

Wynn's Wire

 

 

DEAR MEMBERS,

 

At SECO Energy, our goal goes beyond keeping the lights on. We strive to provide you with the most reliable and trustworthy service possible. The Oxford English Dictionary defines reliability as “the quality of being able to be trusted to do what somebody wants or needs.” Trustworthiness is essential to steering our responsibility to you, our valued members.

 

Our teams works diligently every day, proactively planning to ensure your homes and businesses have the power they need to thrive. While we strive to maintain uninterrupted power, sometimes factors out of our control, such as severe weather, wildlife interference, or other events, may cause temporary outages. In such cases, you can rest assured that our teams are swiftly dispatched to restore power quickly and safely. Our local Call Center is available for questions and concerns, and a whole cast of employees supports restoration efforts behind the scenes.

 

We recognize that transparent communication and exceptional member service are fundamental to reinforcing your confidence in us. That’s why we actively seek your feedback to continually enhance our service’s efficiency and ensure we meet and exceed expectations.

 

Looking ahead, SECO Energy is enthusiastic about the future. Our Strategic and Smart Grid Technology Roadmaps prioritize ongoing investments in cutting-edge technology, infrastructure enhancements, and innovative energy solutions to meet the evolving needs of the rapidly growing communities we serve. Our focus on reliability and trustworthiness remains steadfast, ensuring that you can count on us every step of the way. 

 

Sincerely,

 

CURTIS WYNN

Chief Executive Officer

 

 

 

 

SECO News August 2024 What Does Reliability Mean to SECO Energy

 

Reliability to SECO Energy means consistent, dependable service and being a trusted energy provider that invests in grid-hardening strategies, technological advancements, and services to assist our members to prevent outages, and maintain a stable energy supply to enhance service delivery.

 

GRID HARDENING STRATEGIES

  • Strategic vegetation management schedules
  • Overhead and underground facility inspections
  • Conversion to underground facilities in areas with frequent vegetation and reliability issues due to storms
  • Approximately 90% of new lines installed underground
  • Balanced and diversified energy portfolio
  • Routine maintenance to replace damaged and outdated poles and equipment
  • Upgrading transmission poles to concrete

 

TECHNOLOGICAL ADVANCEMENTS

  • Advanced Metering Infrastructure (AMI)
  • Transition from high-pressure sodium (HPS) area lighting to light-emitting diode (LED) area lighting
  • Conservation Voltage Reduction strategies that reduce demand and energy while lowering wholesale power costs
  • Utilization of drones for infrared inspections of lines, poles, and structures

 

SERVICES

  • Local call center to serve over 500,000 consumers
  • Immediate response to power outages and 24-hour response to area lighting outages
  • SmartHub for monitoring and managing your home’s energy use
  • StormCenter for quickly reporting outages and checking outage status online
  • Emails, texts, and voice alerts with outage updates and community alerts
  • Monthly SECO News with the latest cooperative developments
  • Regular updates on social media

 

Stay Connected with SECO Energy! Like us on Facebook, Instagram, X/Twitter, and LinkedIn for the latest updates.

 

 

 

 

SECO News August 2024 World Class Outage Response

 

 

As a not-for-profit electric cooperative, SECO Energy understands that our members count on us to supply reliable, safe, and affordable electric service. Utilities use three metrics to measure their success in providing an uninterrupted power supply.

 

 

 

SYSTEM AVERAGE INTERRUPTION DURATION INDEX (SAIDI)

 

 

 

SYSTEM AVERAGE INTERRUPTION FREQUENCY INDEX (SAIFI)

 

 

CUSTOMER AVERAGE INTERRUPTION DURATION INDEX (CAIDI)

 

*The national average is based on 2022 utility data using the latest information available.

 

 

 

SECO News August 2024 A Message from Joyce Anderson District 2 Trustee The Cooperative Difference

 

As a member of SECO Energy, I want to share with you the significant differences between our cooperative and investor-owned utilities. SECO Energy is a member-owned, not-for-profit electric cooperative that operates under a cooperatives business model that uniquely benefits you and our fellow members.

 

Here are a few differences that make SECO Energy and other cooperatives exceptional.

 

INVESTOR-OWNED UTILITIES PROVIDE ELECTRIC SERVICE TO “CUSTOMERS”

  • Privately owned and operated for profit, primarily focusing on maximizing shareholder returns
  • Decisions are often centralized and made by corporate executives or distant shareholders
  • Accountable to shareholders, and financial targets take precedence
  • Rates designed to not only cover costs of operation but to generate profits for shareholders
  • Profits are distributed to shareholders outside the local community

 

SECO ENERGY PROVIDES ELECTRIC SERVICE TO “MEMBERS”

  • Owned and governed by members; not-for-profit
  • Decisions made locally by members elected to serve on the Board of Trustees, ensuring member voices are heard and needs are met
  • Accountability directly related to membership, fostering transparency and responsiveness
  • Rates are designed to meet local needs and cover operating expenses and purchased power costs
  • Profits returned to members in the form of capital credits

 

 

Read the full August SECO News.

 

 

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.

Members Re-elect District 7 Trustee Rob Henion

On Tuesday, January 23, members who attended the District Meeting voted to re-elect Rob Henion to represent District 7 on SECO Energy’s Board of Trustees. Henion became a SECO member in 2002 and was first elected to the Board in 2009. Henion currently serves in an Officer position as Secretary-Treasurer.

 

SECO Energy is a not-for-profit electric cooperative, operated for and owned by its members. SECO members elect their fellow members to SECO’s nine-member Board of Trustees. Collectively, the Board represents the SECO membership, meeting monthly to monitor the financial status of the cooperative while providing fiduciary oversight and participating in policy decisions that serve the best interests of the members at large.

 

Members in District 7 gathered at the Rainbow Lake Estates Community Center in Dunnellon to elect a District 7 Trustee for a three-year term. Henion and Dunnellon resident Carmen A. Pintado-Kusiak along with Ocala resident Donald R. Stanton expressed a willingness to represent the members of District 7. In January, all three submitted their letter of intent to serve.

 

Henion stated, “Thank you District 7 members for once again selecting me to represent District 7 on SECO’s Board of Trustees. I am privileged to continue my work with the cooperative, CEO Jim Duncan, SECO’s senior management team and my fellow Trustees.”

 

CEO Jim Duncan stated, “I congratulate Mr. Henion on his re-election and continued service to SECO members. It is a pleasure to work with a Board that is member-focused and committed to the Cooperative’s success. I also extend my gratitude to our District 7 members who attended the meeting and participated in SECO’s democratic process.”

 

Duncan added, “I hope to see all of you at SECO’s Annual Meeting of the Membership in March. Enjoy breakfast and snacks, browse energy efficiency displays at the Energy Showcase and stay through the business meeting for the door prize drawing. This year, door prizes include a refurbished 2009 Chevy Colorado pick-up truck an electric golf cart, cash and more.”

SECO members are invited to the 80th Annual Meeting of the Membership on Saturday, March 24. Registration opens at 8:00 a.m., and the business meeting begins at 10:30 a.m. The meeting is located across the street from the corporate headquarters at 293 S. Highway 301 in Sumterville.

 

Visit SECOEnergy.com>YourCo-Op for photos and brief bios of the Trustees along with an interactive District map. “Like” SECO’s Facebook page and “follow” @SECOEnergy on Twitter for news releases and cooperative updates.

SECO Employees Raise $12,000 at Relay for Life

On Friday, April 29, SECO’s team of employee volunteers participated in the American Cancer Society’s Relay for Life Fundraiser for Sumter County. Relay for Life is the American Cancer Society’s signature event; and it raises donations that contribute to cancer research as well as providing support for cancer patients and their caregivers.

 

This year’s theme was “Stopping Cancer in its Tracks,” inspired by the iconic television show Soul Train. SECO team members and other volunteers boogied through the night and into the morning to represent their commitment to continue the fight against cancer. The SECO team’s fundraising efforts paid off. It raised over $12,000 for the American Cancer Society.

 

The SECO team danced to the DJ and brought the ‘70s back to life with bright lights, disco balls and psychedelic colors. SECO Energy’s Service Center Manager Donna Etts and Accounting Analyst Tanya Mikeals wore the grooviest costumes of the night and won the ‘70s themed costume contest.

 

SECO Energy Employees Raise $12,000 at Relay for Life

 

The SECO team members took turns walking or running laps to remind the community that cancer never sleeps. At the event, SECO team members walked special laps dedicated to cancer survivors and patient caregivers. A quiet memorial lap was walked in honor of loved ones who have lost their cancer fight. The memorial lap is particularly moving to many SECO team members.

 

CEO Jim Duncan stated, “As a not-for-profit electric cooperative, SECO supports the communities it serves through strong corporate citizenship efforts. SECO employees embody the cooperative spirit by playing an active role in the communities where they live through volunteering and monetary donations. SECO employees make a difference in their communities every day.”

 

For more information about SECO Energy and its corporate citizenship, visit www.secoenergy.com.