Florida’s Locally Owned Electric Utilities Imagine Forward
Municipal electric utilities ask questions about the future of electricity
ORLANDO, Fla., Feb. 27, 2014 – Florida’s locally owned electric utilities are imagining forward and starting a dialogue about the future of reliable, affordable electricity, said Florida Municipal Power Agency’s management in the Agency’s 2013 annual report. The report was released this week and is posted on FMPA’s website.
“In the 35 years since FMPA was founded, our world and our industry have changed in ways none of us could have imagined. Yet, one big thing has stayed the same. Customers need power that is reliable and affordable,” said FMPA General Manager and CEO Nicholas P. Guarriello. “In 2013, we delivered on this promise with reliable operations and consistent rates.”
Highlights of the 2013 fiscal year included:
- Power Costs: All-Requirements Project power costs remained below the five-year average in 2013, thanks to low prices for natural gas and FMPA’s highly efficient power plants.
- Local Reliability: Municipal utilities’ customers enjoyed quicker repairs, shorter outages and fewer interruptions than customers of private utilities, according to a report released by FMPA.
- Generation Milestones: Treasure Coast Energy Center marked five years of operation. The natural gas, combined cycle unit has exceeded all performance expectations, including completing a perfect run of 175 days of continuous operation between scheduled maintenance outages.
- Anniversaries: 2013 brought the 35th anniversary of FMPA’s first meeting, the 30th anniversary of its first joint action project, and the 25th anniversary of Florida Municipal Power Pool. An online video series was created to tell the stories of FMPA’s joint action founders.
- Credit Ratings: Fitch Ratings affirmed the A+ credit ratings of the All-Requirements, Stanton, Tri-City and Stanton II projects and the A rating of the St. Lucie Project. Moody’s made no change to its ratings this year, which are A1 for Stanton and Stanton II and A2 for All-Requirements, Tri-City and St. Lucie.
- Home Power Advantage: FMPA and the Florida Municipal Electric Association launched a new website, www.homepoweradvantage.com, to help customers understand the benefits of locally owned utilities.
- Employer of Choice: FMPA was named one of the Top 100 Companies for Working Familiesby the Orlando Sentinel and selected as one of Central Florida’s Healthiest Employers by the Orlando Business Journal.
- Strategic Planning: FMPA members shaped their future by updating their strategic plans.
- Capacity Increase: Florida Power & Light completed uprate projects at the St. Lucie nuclear plant this year that added capacity to St. Lucie Unit 2, increasing St. Lucie Project entitlements by approximately 12%.
“Power is a long-term business, so the work we do today influences our tomorrow,” said Guarriello. “At FMPA, we are scanning the horizon for changes in technology, society and customers’ lifestyles that could impact our ability to deliver reliable, low-cost power. We may not know exactly what our business will look like in 2048, but by asking good questions, we can start the dialogue that will shape our future.”
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Florida Municipal Power Agency (FMPA) is a wholesale power company owned by 31 municipal electric utilities. FMPA provides economies of scale in power generation and related services to support community-owned electric utilities. The members of FMPA serve approximately two million Floridians.