A weekly e-newsletter for FMPA members
July 9, 2018
ARP Credit Rating
Fitch Ratings assigned an A+ credit rating with a positive outlook to FMPA’s All-Requirements Project (ARP) on June 25. Moody’s Investors Service had previously issued an A2 rating with a stable outlook. The ratings come in advance of a planned offering of approximately $57.8 million in ARP refunding revenue bonds. Fitch also affirmed the ratings of approximately $1 billion in outstanding ARP revenue bonds. The key rating drivers include FMPA’s maturity as a project-based agency, the credit quality among the largest ARP participants, improvement in the debt profile, contractual obligations, and rate flexibility and sensitivity. Pre-closing meetings are scheduled for this Wednesday and Thursday. The bond issue is expected to close in the middle of July. Contact: Rich Popp
Florida Municipal Power Pool
The Florida Municipal Power Pool (FMPP) celebrated 30 years of operation on July 1. Every day since July 1, 1988, the participating utilities have pooled their generating resources to supply power in the most economical manner for their customers. The pool participants—including FMPA, Lakeland Electric and Orlando Utilities Commission—today serve the electric needs of 20 Florida cities. FMPP’s Energy Control Center is responsible for dispatching the pool’s 51 generating resources that produce approximately 4,700 MW. Last year, the pool saved more than $50 million in fuel costs. Contact: Tom Reedy
General Fund Transfer Survey
FMPA launched last Tuesday the annual survey of general fund transfers among its members. The comparative data will show retail sales, total operating electric revenues and electric fund transfers for each respondent. Members are asked to complete the online survey by July 20. Responses will be shared with participants once the survey is complete. Contact: Jason Wolfe
Visitors to FMPA’s Document Portal will see a dramatically new website that launched last Friday. FMPA’s Public Relations and Information Technology departments worked together to overhaul the website that houses agenda packages and many other documents. The goals for the project were to enhance the site’s search feature, improve the user experience, improve usability for mobile devices, refresh the design and content, and updated the site’s operating software to a more secure platform. Contact: Mark McCain
System Control Roundtable
FMPA’s System Control Roundtable is Wednesday at 10 a.m. in Lakeland. The roundtable is an opportunity for control center operators to discuss common issues, share best practices and provide support to fellow member utilities. The event is open to all system control personnel who are involved with daily system switching, trouble call dispatch and coordinated crew locations and field activities. Contact: Mike McCleary
ARP Solar Participants Advisory Committee
The Solar Participants Advisory Committee for the All-Requirements Project will hold its inaugural meeting Wednesday at 1:30 p.m. via conference call. The committee will select a chairperson and hear the following information items: 1) committee charter, 2) renewable energy power purchase agreement milestones and decisions, 3) promotional ideas and community outreach, 4) transmission studies and funding, 5) budget and funding, and 6) meeting schedule. Contact: Susan Schumann
Member City Visit
Ian Beason travels to Starke on Wednesday and Thursday to discuss feeder relocation projects. Mike McCleary will join Ian for the meeting on Thursday.
Congratulations to Gary Fisk, who celebrates eight years with FMPA on Thursday, July 12.
Congratulations to Sharon Samuels, who celebrates 20 years with FMPA on Friday, July 13.
FMEA Annual Conference
Time is running out to register for the Florida Municipal Electric Association’s (FMEA) Annual Conference scheduled for July 17-19 at The Breakers in Palm Beach.
FMPA Governing Board Meetings
FMPA’s governing board meetings are scheduled for July 18 at The Breakers in Palm Beach. The Board of Directors will meet at 8 a.m. and the Executive Committee will meet at 8:30 a.m., or immediately after the Board. Contact: Jacob Williams
Board and Executive Committee Pictures
Photos of Board and Executive Committee members are scheduled to be taken immediately following July’s governing board meetings in the Magnolia Room of The Breakers in Palm Beach. Details about the pictures were sent in an email from Ryan Dumas.
Policy Makers Liaisons Committee
FMPA’s Policy Makers Liaisons Committee meeting is scheduled for July 19 at 3 p.m. at The Breakers in Palm Beach. A quorum is need to elect officers, approve a meeting schedule and conduct other business. Contact: Mark McCain
Substation Training Series
The next session of FMPA’s Substation Training series will be held Aug. 14-15 at Orlando Utilities Commission’s Engineering Building. The topic for this session is Substation Hazards and Controls. This hands-on course is designed to provide participants with in-depth instruction on substation-related topics and is tailored to the specific equipment of the attendees’ utilities. The cost to register is $900 per person for the two-day session. FMPA will invoice participating utilities after the course. Registration is available on FMPA’s website. Contact: Sharon Samuels
Tampa Electric Co. (TECO) filed June 29 with the Florida Public Service Commission (PSC) seeking approval to charge customers for five solar plants in Hillsborough and Polk counties. The combined plants would produce 260.3 MW at a cost of $46 million and would begin operation in January. The PSC approved a similar request for TECO last month for a 70.3 MW facility in Polk County and a 74.4 MW facility in Hillsborough County, which are expected to be operational in September. Under a settlement agreement with the PSC, TECO’s base rates are frozen until 2022, but the utility can seek cost recovery for solar projects.
Scott Pruitt, administrator of the U.S. Environmental Protection Agency (EPA), who led efforts to roll back Obama-era regulations, resigned last Thursday due to allegations of ethical lapses and improper spending. President Donald Trump, who announced Pruitt’s departure in a tweet, said the agency’s deputy administrator, Andrew Wheeler, would become acting EPA administrator on Monday. A former lobbyist for the coal industry, Wheeler is expected to continue President Trump’s environmental priorities, including changing the Clean Power Plan, de-emphasizing climate-change initiatives and more.
FMPA Weekly is published by FMPA for employees and governing boards of FMPA member utilities. Questions or comments about this newsletter may be directed to Jeff Grainger or Lisa Rienhardt 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 learn more.