Title
Resolution - Approval of Activities to Consider Broadband Business Opportunities - M Rister
Other Info
Submitted By: M Rister
Department: Board Director
Financial Impact and Cost/Benefit Considerations: As discussed in Executive Session.
Discussion
For more than 80 years, Pedernales Electric Cooperative ("PEC") has provided low-cost, reliable electric service to the Texas Hill Country when for-profit electric utilities would not. The reason PEC was able to transform lives throughout the Hill Country by bringing its Members badly needed electric service was that PEC was (1) a not-for-profit electric utility (as a cooperative), and (2) the Federal Government awarded PEC approximately $1.3 million in loans to build its electric lines (about $25 million today).
Because PEC is a cooperative, we have been able to provide excellent service to our Members while keeping rates among the lowest in Texas. The Cooperative and the Board are committed to continuing to provide personalized customer service and reliable electricity that fuels the beautiful Texas Hill Country where our members live and work. The fundamental reason the Cooperative is able to do this is by focusing on its original purpose of providing electricity to rural Texas and our Members and by listening to our Members and their needs.
Some of the Cooperative's Members have requested that the Cooperative become more involved in broadband accessibility or connectivity. Broadband technology is an entirely different line of business than as outlined in the Cooperative's mission which emphasizes the Cooperative's commitment to delivering safe, reliable, and low-cost energy solutions for the benefit of its members.
Because Members have asked, the Cooperative has regularly reviewed strategies and data regarding Members' access to broadband connectivity. In October 2015, the Board began hearing presentations and reports on what financial, operational, and regulatory impact broadband services would ha...
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