Seminole Electric Revenue and Competitors

Seminole Electric is a generation and transmission cooperative. An estimated 1.6 million individuals and businesses rely on Seminole's 10 member distribution systems for their electric power, in portions of 46 counties throughout Florida. The primary energy resource serving Seminole's member systems is Seminole Generating Station. This 1300 megawatt, coal-fueled power station is located in Northeast Florida in Putnam County, on the St. Johns River, south of Jacksonville. Seminole recently announced plans to expand this Station to help meet Florida's growing energy needs. Seminole's Richard J. Midulla Generating Station is located in Hardee County in South-central Florida, near Wauchula. (This station was renamed in July 2007 to honor long time Seminole employee and retiring general manager Rich Midulla; it formerly was known as the Seminole Payne Creek Station.) Its units are fueled by natural gas; they also can burn fuel oil as an alternative fuel. Phase one of the station consists of a 500 megawatt combined cycle generating facility that was put into commercial service in January 2002. An additional 310 megawatts of peaking capacity, consisting of five combustion turbine generating units, went into service on December 1, 2006. Seminole additionally owns a 14 megawatt share of Progress Energy Florida's Crystal River 3 nuclear plant. This was Seminole's first owned generation. The Cooperative also owns approximately 300 miles of transmission line. These lines interconnect Seminole's generating facilities to our direct serve delivery points and to the Florida state transmission grid. To supplement its owned resources and economically serve member needs, Seminole has a portfolio of purchased power agreements with other utilities, independent power producers and power marketers. The Cooperative's power supply strategy is to maintain a diversified portfolio. Diversification provides rate stability by reducing dependence on a single fossil fuel type and reducing exposure to resulting price fluctuations. Seminole is managed by an executive team and governed by a Board of Trustees. The Seminole Board is comprised of three representatives from each of its 10 member systems. Seminole's primary mission is to provide a reliable supply of competitively priced wholesale power to its members.