August 8, 2022
Natural Gas Price Risk Management
Efforts to provide bill stability and predictability for All-Requirements Project members could produce average power costs that are less than $100 per megawatt hour for July. This is primarily due to purchasing a large portion of natural gas at first-of-month prices, which protected members from price increases that occurred during the month. For the coming months, Florida Gas Utilities and FMPA have already secured 20% of the natural gas needed for September through November at a fixed price of $7.82 per MMBtu and 40% of the natural gas for next March at $6.34 per MMBtu. Price volatility is expected to continue for the foreseeable future, and consumption is also expected to remain high. The team will continue to monitor the energy markets and report to the Executive Committee any changes. Contact: Jacob Williams
Hurricane Season Forecast Updated
The National Oceanic and Atmospheric Administration issued an updated forecast for the 2022 hurricane season last Thursday, revising its prediction slightly downward, with six to 10 hurricanes expected. The peak of hurricane season typically occurs in mid-August thru mid-October, and forecasters still predict an above-average season this year. The National Hurricane Center is currently tracking a disturbance off the coast of Africa. They give the system a 10% chance of forming in the next two days and a 40% chance in the next five days. The disturbance is moving westward and will remain over the eastern and central parts of the Atlantic for at least the next week.
Reedy Creek Power Sale Extended
The Reedy Creek Improvement District recently approved an extension of a natural gas tolling agreement with FMPA for energy delivery of 53 MW through the end of 2024. The agreement helps the district provide affordable and reliable power to its customers and supports FMPA’s third-party sales, which benefits all members that purchase power from FMPA. Contact: Chris Gowder
Foreman Academy Certification Series
The deadline to register for the second track of the three-part Foreman Academy is Wednesday. The second track will be held on Aug. 22-25 at FMPA’s Orlando office and provides crew leaders and general foremen with the knowledge and tools to lead crews efficiently, responsibly and safely. First time attendees who have not completed the first track are also invited to register for the training. Contact: Sharon Samuels
ARP Rate Workshop
The Executive Committee meets on Thursday at 2 p.m. via conference call to review project loads, costs and rates for July. The agenda package will be available on the Portal prior to the meeting. Contact: Jason Wolfe
APPA Business and Financial Conference
The American Public Power Association’s Business and Financial Conference is scheduled for Sept. 18-21 in Savannah, Georgia. The conference is a professional development and networking opportunity for business and finance personnel. Preconference seminar topics include financial planning for long-term stability, trending topics in public utility accounting, and pathways to leadership. A link to register is available on APPA’s website.
Sharon Adams | Aug. 13 | 21 Years
Rattanak Srun | Aug. 13 | 10 Years
Electrical Metering Program
Aug. 15-19 | 8:30 a.m. | Orlando Utilities Commission
Aug. 17 | 2 p.m. | FMPA Orlando Office
FMPA Governing Board Meetings
Aug. 18 | 9 a.m. | FMPA Orlando Office
TOP INDUSTRY NEWS
FMPA Weekly is published by FMPA’s Public Relations Department for staff and members. Questions about this newsletter may be directed to Rachel Ilardi or Ryan Dumas. Check out FMPA’s Glossary, for frequently mentioned terms.