Optimistic Outlook for Wholesale Electricity in Florida
Power Agency’s Annual Report celebrates progress in 2011, shares positive look forward
ORLANDO, Fla., Feb. 23, 2012 – Florida Municipal Power Agency (FMPA) and its members have a positive, “glass-half-full” attitude based on accomplishments in 2011 that provide good reason for optimism, says FMPA management in the Agency’s 2011 Annual Report. The report was released this week and is posted on FMPA’s website.
Highlights of fiscal 2011 include:
- 20% Rate Reduction: Customers in All-Requirements Project cities are enjoying lower retail rates thanks to a 20% reduction in FMPA’s wholesale rate from 2009 to 2011.
- Efficient Generation: FMPA now uses nearly 9% less fuel to produce each unit of electricity than it did five years ago, saving money for customers and reducing environmental impact.
- Energy Conservation: Customers are saving more than 4,410 megawatt-hours a year thanks to programs funded by FMPA’s members in 2011.
- State-of-the-Art Plant: High-efficiency generator begins operating on time and under budget, reducing energy costs by millions annually.
- Win-Win Power Deal: Marketing capacity to a fellow municipal electric utility raises revenue and reduces costs for All-Requirements Project members.
- Long-Term Commitments: Two of the All-Requirements Project’s larger member utilities renewed their commitments to the project in 2011.
- Exploring Opportunities: Thanks to a “buyer’s market” for capacity, FMPA is investigating cost-effective opportunities to diversity its fuel mix.
- Reliability Standards: Municipal utilities are supporting the reliability of the power grid by striving to meet or beat stringent federal standards with help from FMPA.
- Silver Anniversary: All-Requirements members celebrated 25 years of being owners, not renters, of a statewide power system in May 2011.
“These are real accomplishments that show we are overcoming our challenges and moving in the right direction. We’ll keep making progress the way we always have, with a positive attitude and collaborative spirit that carries us through good times and bad,” said FMPA Chairman Vince Ruano and General Manager and CEO Nicholas Guarriello. “When we choose to see the glass as half full, we choose to create our own opportunities. We choose to bring out the best in ourselves and our teammates. We choose to be the masters of our destiny.”
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Florida Municipal Power Agency (FMPA) is a wholesale power company owned by 30 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.