Paris, TN – At the September meeting of the Board of Public Utilities (BPU) Board of Directors, Kim Kersey with Kersey Consulting Services presented and explained a Broadband Business Plan and Feasibility Assessment. No action was taken by the Board on the utility proceeding with a broadband offering at this time.
In the Feasibility Assessment, Kersey made the following remarks, “If BPU is able to achieve the projected market share for Internet and telephone services and operate within the expense parameters of its business plan, BPU can realize its objectives of producing substantial incremental net revenues for its utility operations and providing superior broadband services to the community.”
A vote on whether or not to offer broadband services will not likely take place until the November or December meeting of the Board to allow Board Members the opportunity to make a well informed and thoughtful decision.
BPU General Manager, Terry Wimberley, presented to the Board the opportunity for BPU to enter into a long-term agreement with TVA that would generate costs savings for the utility. At the time of the meeting, 90 of the 154 Local Power Companies in the Tennessee Valley had already signed the agreement and by the end of September a projected 120 of the 154 will have signed.
“BPU has an 80-year history of partnering with TVA to provide public power to the residents of Paris and Henry County,” said Wimberley. “TVA has recently committed $18.2 million to build a transmission line that will be a secondary power feed into our system that once built, will help to increase reliability for our customers. We are grateful for TVA’s commitment to fostering long-lasting relationships with public power providers like BPU and look forward to continuing to grow that relationship for years to come.”
BPU will spend the next two months evaluating ways to utilize costs savings that could potentially allow the utility to avoid debt for future projects, reduce debt on current projects or fund capital projects that would increase reliability for BPU customers.
In other business, Wimberley updated the Board on the initial success of the new Generator Financing Program approved at the last meeting of the Board. To date, one loan has been approved and the generator installed at the customers residence. An additional 13 loans have been approved with nine of those awaiting installation from the contractor.
Wimberley also informed the Board of two upcoming events – There will be a ribbon cutting for the new Downtown Mural in the BPU alleyway on Monday, September 30 at 10 am. Additionally, this year’s Public Utilities Week Cookout/Celebration will take place on Wednesday, October 9 in the BPU/Commercial Bank Employee parking lot from 11 am – 1 pm with free lunch and other activities for the community.
Prior to the adjournment of the meeting, the Board agreed to a request by Wimberley that the October meeting for the Board be pushed back one day to Wednesday, October 23.
About BPU – Established as an independent board of the City of Paris in 1938, BPU is a municipally-owned utility that provides electric, water and wastewater services to residents of Paris and Henry County as a means of promoting economic development and enhancing quality of life in the community. Serving over 22,000 homes and businesses, BPU strives to provide reliable, safe and affordable services to our community.