A weekly e-newsletter for FMPA members
Sept. 23, 2013
All-Requirements Project Financing
FMPA closed on the sale of $15 million of 2013A revenue bonds (taxable) last Monday for the All-Requirements Project. The ARP Executive Committee approved the financing at its July 2013 meeting to finance new capital for its ownership interest in Public Gas Partners. FMPA sold the bonds to SunTrust via direct placement, which means the bank is the sole bondholder. The bonds pay interest based on a variable rate formula of one month of LIBOR plus 147 basis points. Contact: Mark Larson
APPA Promotes Home Power Advantage Website
The Registrationhttp://www.fmpa.com/index.php/component/registrationpro/?view=event&did=54>Registration; is requested, and lunch will be provided. Participation in the roundtable via teleconference will be available for those unable to attend in person. Contact: Sharon Smeenk
Energy Connections Conference
FMPA’s semi-annual Lineman’s Roundtable is scheduled for Oct. 17 at 10 a.m. in Clewiston. The roundtable provides a forum for line crews to exchange ideas on operating practices, safety, training, tools, equipment and other common issues. http://www.fmpa.com/index.php/component/registrationpro/?view=event&did=26>Registration; is requested, and lunch will be provided. Contact: Sharon Samuels
Excellence as a Supervisor Training
Registration is open for the 2014 Excellence as a Supervisor Training, which is available to FMPA members as part of the alliance between FMPA and Electric Cities of Georgia (ECG). The training is designed to provide supervisors or prospective supervisors with the skills necessary to be effective leaders. Training is divided into two series consisting of three modules each. The first module will be held Jan. 28 and Jan. 29 at FMPA’s Orlando office. In an effort to streamline the program cost, ECG reduced the registration fees for members for the 2014 training. Registration information is available on the Member Portal. Contact: Sharon Smeenk
Florida Supreme Court Asked to Overtu FPL Rate Increase
The Florida Office of Public Counsel asked the state Supreme Court last Thursday to overtu rate increases approved last year for Florida Power & Light after the utility reached an agreement with commercial and federal govement customers. The Office of Public Counsel contends that the Florida Public Service Commission approved the increases without going through the proper process and said the result could have an impact on FPL customers, as well as set guidelines for future rate-making cases. Electric bills for residential customers using 1,000 kWh per month will increase more than $9 per month through 2016, although FPL officials say efficiencies associated with new plants will result in less than $3 per month during the same time period. While justices expressed skepticism about the consumer advocate’s arguments, they also questioned the validity of a settlement that did not include a representative of the majority of FPL’s customers. There is no timeline for a ruling on the case even though the rate increase has already taken effect.
EPA Unveils Plan to Curb Emissions from New Fossil Fuel Plants
The Environmental Protection Agency (EPA) unveiled a proposal last Friday to limit greenhouse gases from new coal-fired and natural gas-fired power plants, setting up a battle with companies that say the tougher standards require the use of costly and largely unproven technology. The proposal requires new coal plants to limit their emissions to 1,100 pounds of carbon dioxide per megawatt hour, about 700 fewer pounds than most mode-day coal units. The only way to meet the standard is to use carbon capture and storage technology, which currently is not used at any commercial-scale power plant. New large natural gas-fired turbines would need to meet a limit of 1,000 pounds of carbon dioxide per megawatt hour, while new small natural gas-fired turbines would need to meet a limit of 1,100 pounds. The new rule is a key part of President Barack Obama’s climate change plan announced last June. The president said he wants to cut U.S. carbon emissions by 17% by 2020. To help meet that goal, EPA says it needs to address power-plant emissions, which account for about one-third of all greenhouse-gas emissions. The agency, after finishing its standards for new plants, plans to address emissions from existing plants. The EPA’s proposed rule, which will undergo public comment before being made final, is likely to be challenged in court. The industry’s conce is that the EPA’s proposal will effectively ban the construction of new coal plants even if natural-gas prices were to double or triple.
FMPA Weekly is published by FMPA for employees and goveing boards of FMPA member utilities. Questions or comments about this newsletter may be directed to Ryan Dumas or Allison Briggs in FMPA’s Public Relations Department.
Want more background on the names and terms used in this newsletter? Check out FMPA’s Glossary, which features some of the most frequently mentioned committees, companies, places and terms, or contact the person named in each FMPA story to lea more. (Click here for the Staff Directory.)
Florida Municipal Power Agency
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Tel 407 355-7767
Fax 407 355-5794
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