Living the Cooperative Purpose - Withlacoochee River Electric

Living the Cooperative Purpose - Withlacoochee River Electric

WREC
2015 Annual Report
Living the
Cooperative
Purpose
WREC
2015 Annual Report
WREC AND ITS EMPLOYEES DONATED
$69,292.00 TO UNITED WAY
OF PASCO, HERNANDO AND CITRUS COUNTIES!
“We’re All Proud!”
Bayonet Point District Manager Joe Marina, United Way of Pasco Executive Director
Duggan Cooley.
Withlacoochee River Electric Cooperative Employees not only work
hard to provide our Members with reliable and affordable electric power,
they are active in our communities as well.
Their donations help United Way and its
partner agencies provide essential services
in our communities.
WREC AND
HABITAT FOR HUMANITY
WREC
2015 Annual Report
WORKING FOR A GREATER PURPOSE
“Proud to be
Members of WREC”
WREC sponsored its third Habitat for
Humanity house in Hernando County. WREC’s Manager of Member Relations,
David Lambert, West Hernando District Manager, David Gonzalez and West
Hernando Customer Service Supervisor, Gary Steele (Habitat Board Member) were
at the ground breaking for the Thomas family home. This hard working family
worked alongside our WRECing Crew and other volunteers to build their home.
WREC’s employees and their families log thousands of volunteer hours each year
to support our communities.
PAGE 1
WREC
2015 Annual Report
NEWS
FEBRUARY 18, 2016
(NEW ORLEANS) - Withlacoochee River Electric Cooperative
(WREC), based in Florida, has won the National Rural Electric
Cooperative Association’s (NRECA) first-ever “Cooperative
Purpose Award” in recognition of the Co-op’s outstanding
contributions to improving the quality of life and the purpose
of the Cooperative in the community.
After a territory swap with a neighboring utility brought long
impoverished communities into the Co-op’s service territory,
WREC set out to improve the prospects and quality of life for
the new Members. The Co-op held community forums, partnered with local officials on a strategic master plan and en-
gaged with federal officials, including U.S. Senator Bill Nelson
to build The Lewis Abraham Lacoochee Community Center.
Crime has dropped dramatically and, for the first time in years,
local residents are coming together. Living conditions in this
poorest area in the county has been drastically improved. An
entire community has been lifted up.
WREC’s charitable foundation has supported 560 Co-op families. WREC’s community outreach programs along with the
development of two industrial parks added over 2,000 jobs and
has enriched many living in our communities.
PAGE 2
WREC
2015 Annual Report
“Each and every day, WREC is living out the cooperative purpose,
demonstrating the seventh cooperative principle: commitment to
community. What WREC has been able to accomplish by working
hand-in-hand with the Membership is truly phenomenal,” said
NRECA Interim CEO, Jeffrey Connor.
TABLE OF CO N T EN T S
United Way . . . . . . . . . . . . . . . . . . . . . . . Ins. Cover
Habitat For Humanity . . . . . . . . . . . . . . . . . . . . . . 1
NRECA Electric Cooperative Purpose Award . . . . . . . . 2
Executive Vice-President & General Manager’s Report . . 4 - 5
Members Helping Members . . . . . . . . . . . . . . . . . . . 6
It takes specialized equipment to operate and maintain a safe and reliable electric system.
WREC invests millions of dollars each year in equipment to build and maintain your
electric system.
WREC Educational Foundation, Inc. . . . . . . . . . . . . . 7
Board Of Trustees . . . . . . . . . . . . . . . . . . . . . . . 8 - 9
WREC Management Team . . . . . . . . . . . . . . . . . . 10
2015 Year In Review . . . . . . . . . . . . . . . . . . . . . . . 11
WREC’s Smart Hub . . . . . . . . . . . . . . . . . . . . . . 12
Year-End Statistics . . . . . . . . . . . . . . . . . . . . . . . 13
Economic Development Participation . . . . . . . . . . . . 14
Capital Credits / Revenue Rate Reduction Refunds . . . . .15
Financial Reports . . . . . . . . . . . . . . . . . . . . . . 16 - 17
PAGE 3
WREC
2015 Annual Report
“Every time you are tempted to react in the same old way, ask if you want to be a
prisoner of the past or a pioneer of the future.”
Griffin Murray
Dear Member,
In the 1930s, the provision of providing electricity to rural America was not
economically feasible; only allowing for power to be provided in more urban
areas. At that time, electric utilities used a 2,300 volt distribution system. This
relatively low voltage could only be carried about 4 miles before the voltage
drop became unacceptable making it nearly impossible for farmers, ranchers,
and rural communities to receive electric service.
Executive Vice-President
and General Manager’s
REPORT
Then a Pioneer came along, President Franklin Delano Roosevelt, who could
have opted to remain status quo and not provide the means necessary to bring
quality electricity to rural areas, but instead, enacted the Rural Electrification
Act of 1936 which gave federal loans for the installation of electrical distribution systems to serve the isolated communities throughout Rural America. This
act allowed rural families to meet their basic needs and provide for a better life
for their families. With the electrification of rural America, our farms increased
productivity, and businesses began to prosper contributing substantially to the
growth and economic stability of our great nation.
This Act, aside from providing electricity to rural communities, also was in
response to the high unemployment that was plaguing our nation. FDR’s New
Deal allowed for jobs to be created throughout all of America, installing the
much needed infrastructure for change, growth, and economic stability.
Today, we have a new Pioneer, your electric Cooperative, who in 2015, amongst
an industry of over 900 electric cooperatives throughout the nation, received
the first-ever “National Cooperative Purpose Award” presented by the National
Rural Electric Cooperative Association (NRECA). This award was presented
to the electric cooperative who lived out one of the main cooperative principles – “commitment to community and cooperation” – and who has substantially
improved the quality of life for co-op Members.
PAGE 4
By refusing to react in the “same old way”, WREC took on the trailblazing
challenge to transcend lives in our communities and areas otherwise forgotten.
WREC
2015 Annual Report
We focused on rebuilding the poorest community in our service territory,
Lacoochee. By bringing health services, a community facility, paved roads and
potable water to the area, this community is now on a path to grow and prosper
for years to come.
We tackled education in a big way by providing over 8.6 million dollars in college scholarships to 1,534 Cooperative children, and through our Operation
Round-up program by providing over 1.8 million dollars in assistance to
565 Cooperative families in need.
“Each and every day, WREC is living out the cooperative purpose, demonstrating
the seventh cooperative principle: commitment to community. What WREC
has been able to accomplish, by working hand-in-hand with the membership, is
truly phenomenal,” said NRECA Interim CEO Jeffrey Connor.
The National Cooperative Purpose Award represents our commitment to
being more than your electric service provider, but also working hand-in-hand
with you to build better communities and better lives for our Members.
Sincerely,
Billy E. Brown
While giving of our time
and services, WREC also
continues to provide safe
and affordable energy
to our Members with a
reliability rating of 99.9%.
Executive Vice-President & General Manager
PAGE 5
YOUR GENEROUS CONTRIBUTIONS
WREC
CAN CHANGE LIVES
2015 Annual Report
Members
HELPING
Members
Since its inception in 1994, Operation Round-Up has
helped 565 families who have suffered catastrophic
events. To
date
the
program
has
disbursed
$1,848,231.66 to help Members in need. This includes
Say hello to Virginia Teel. She is a proud Member of
WREC and resides in Hudson with her step-daughter, Sue
Tout and her husband, Ross. Ms. Teel has been diagnosed
with Parkinson’s disease and needs to use a walker. Since
her home sits off the ground, she requires the use of a cane
and handrail when climbing the steps. The handrail was
not sturdy and could have collapsed at any time causing her
to fall. As her condition deteriorates, she will need the use
of a wheelchair. Through WRECares, a licensed contractor
built a wheelchair ramp for her. The ramp has improved her
quality of life and independence.
10 families who received funds over the recent
12-month period totaling $33,738.66.
This program would not be successful
without the generosity of our Members!
Operation Round-Up funds are used to help families
who have suffered catastrophic events, and Members
usually pay less than 50¢ per month! Funds are not used
to pay electric bills. Operation Round-Up is governed by
a Board of Trustees from the Cooperative’s nine districts.
Meet another proud Member Marjorie Fullerton who also lives
in Hudson. She was experiencing problems with her septic system, and a determination was made that a new drain field was
needed. Due to her financial situation, she could not afford to
have a new drain field installed. She faced fines if the drain field
was not repaired. With a strained budget, she turned to her Cooperative for help. Amanda Parry, Customer Service Supervisor from the Bayonet
Point district office visited Ms. Fullerton and stated “she is a very proud woman
in desperate need of assistance”. Any help Operation Round-Up provides would be
beneficial. Her application for assistance through WREC’s charitable foundation
WRECares was approved for funding. A licensed contractor was hired and
replaced her drain field.
WRECares is funded by generous Members who round their electric bill up to
the nearest dollar to help other Cooperative Members in need. To participate in this
program, simply contact your local WREC office or visit us online at: www.wrec.net
PAGE 6
INVESTING IN EDUCATION
$8.6 MILLION
WREC
2015 Annual Report
IN SCHOLARSHIPS AWARDED!
Investing in our communities and families continues to be one of the guiding principles of
electric cooperatives across the country. Since 1997, your Cooperative’s Educational Foundation has awarded 1,534 college scholarships with a potential payout of over $8.6 million.
Dear WREC Educational Foundation,
I would like to take this opportunity to thank your foundation for awarding me the WREC scholarship for the year 2015. It is truly a great honor to
be selected as a recipient of this award. This scholarship will help greatly
in reducing my financial burdens and allow me to focus on my education.
My mom is a single parent and was in and out of the hospital since
October 2014. Thanks to the WREC Educational Foundation Scholarship, I plan on
majoring in Nursing. Upon successful completion of my degree, I plan on pursuing a
career as an Obstetrics Nurse. Thanks again for investing in my future; I will make sure
to do my best in achieving my academic and career goals.
Keturah Wilson • Pasco High - Class of 2015
Dear WREC Educational Foundation,
I would like to take this opportunity to thank the WREC Educational
Foundation for awarding me a WREC Educational Foundation Scholarship. I am honored to be the recipient of this award and I am deeply
thankful of your needed support. I will be graduating from River Ridge
High School and attending USF this fall to major in International Studies in the pursuit of a career in law. The financial assistance you have chosen to give me
will be of great help to me in paying my education expenses, and will allow me to apply
more of my time to studying. Thank you again for your great generosity and support.
I promise to work hard to honor your scholarship commitment.
Educational Foundation Scholarship
RE Q U I REM EN T S
APPLICANTS MUST...
• Be a high school senior and maintain a minimum 2.0 GPA.
• Be a bona fide resident within the service area of WREC,
Inc., for at least one year prior to December 31 of the application year.
• Be the dependent of a WREC Member.
• Plan to attend any in-state regionally accredited college,
university or technical school full-time (minimum of 12
credit hours per semester).
• Maintain a 2.0 GPA (or higher if mandated by the institution) each semester to maintain eligibility.
Successful candidates will receive $1,250 per semester (maximum $10,000) for undergraduate studies. The screening and
recommendation of candidates will be at the discretion of
a committee designated by WREC. Application forms are
available after December 1 of each year at your high school
guidance department or any WREC office.
The Cooperative funds this worthwhile program using abandoned Capital Credits that would otherwise be forfeited to
the State of Florida as abandoned property.
Joseph Learned • River Ridge High - Class of 2015
PAGE 7
WREC
2015 Annual Report
PROUD TO BE
DEDICATED
AND EXPERIENCED
Board Of
TRUSTEES
Withlacoochee River Electric Cooperative’s
democratically elected Board of Trustees has a
fiduciary responsibility for the governance of the
Cooperative and its subsidiaries, serving to oversee and shape policies keeping the Cooperative
and its subsidiaries on a steadfast focused course.
Your Trustees are a dedicated experienced group
of professionals who share in an unfounded
loyalty for, and commitment to, the Members
throughout our five county service territory.
They act on behalf of you, our Members, carrying out their principal responsibility to evaluate
and create policies to ensure your Cooperative
provides safe, affordable and reliable service; all
while adhering to our core value... to strengthen
the communities we serve.
PAGE 8
DISTRICT 1
Robert W. Strickland
Vice-President
DISTRICT 2
Jack N.
Hunnicutt, Jr.
DISTRICT 3
Patricia B.
Bechtelheimer
DISTRICT 7
Desmond G.
Little
DISTRICT 8
Paul R.
Little
DISTRICT 9
Kimberly L.
Kinney
WREC
2015 Annual Report
DISTRICT 4
Alan F. Hengesbach
Secretary/Treasurer
DISTRICT 5
James E.
Hines
DISTRICT 6
Terrence E. Schrader
President
WREC
SERVICE AREAS
PROVIDING SERVICE TO OVER 208,760 ACCOUNTS
IN NINE DISTRICTS WITH 2,148 NEW ACCOUNTS
DURING 2015
PAGE 9
WREC
2015 Annual Report
WITHLACOOCHEE RIVER ELECTRIC COOPERATIVE
MANAGEMENT TEAM
DEDICATED AND EXPERIENCED
COMMUNITY • SERVICE • VALUE
S Y S T EM RELI A B I LI T Y
One of the key elements critical to member satisfaction is
reliability. At WREC, we are committed to streamlining our
system and reducing power outages.
In 2015, WREC...
• Trimmed tree limbs away from over 2,505 miles of power
lines and completed 1,215 right-of-way related service orders
to help prevent unnecessary power outages.
• Invested over $15.4 million in new material and equipment.
• Maintained a fleet of 252 vehicles.
ACCOUNTING
AND FINANCE
Ronnie Deese, Manager
352-567-5133, x6200
MEMBER RELATIONS
David Lambert,
Manager
352-567-5133, x6102
ADMINISTRATIVE
ASSISTANT
Paula Lewis
352-567-5133, x6101
ENGINEERING AND
TECHNICAL SUPPORT
Howard Prim, Manager
352-567-5133, x5100
CRYSTAL RIVER
Marlin Sexton,
District Manager
352-795-4382, x4100
BAYONET POINT
Joe Marina,
District Manager
727-868-9465, x2100
CRYSTAL RIVER
ONE PASCO CENTER
Ricky Gude,
District Manager
352-588-5115, x1100
WEST HERNANDO
David Gonzalez,
District Manager
352-596-4000, x3100
2015 - YOUR COOPERATIVE
O P ERAT I O N S
• Closed the year with 480 full-time employees.
• Added 2,148 new services.
• Closed the year with 10,971 miles of energized power lines.
• Completed 41,258 reconnects and 39,728 disconnects.
• Answered 391,988 customer calls.
ADMINISTRATIVE ASSISTANT
PAGE 10
C.L. Calloway
352-795-4382, x4102
WITHLACOOCHEE RIVER ELECTRIC COOPERATIVE
YEAR IN REVIEW
2015 SPECIAL EVENTS
january
WREC’s new
website went live.
You can have
easier access
online at
www.wrec.net
jULY
WREC was notified through
NRECA that it received
the first-ever Cooperative
Purpose Award in recognition
of the Co-op’s outstanding
community service.
FEBRUARY
WREC worked with the
USF Florida Institute of
Government to train
Cooperative Members
on how to navigate
through government.
AUGUST
Senator Bill Nelson and
Billy Brown,
Executive V.P. and G.M.,
sat down to discuss
the illegal grow houses in
WREC’s service territory.
MARCH
The Lacoochee Premier
Health Center opened its
doors to provide needed services
to children & families in the
area. This center is part of the
Lacoochee Community Center.
SEPTEMBER
WREC focused heavily on
combating scams that
targeted Members. Through
community outreach & mass
communications, we worked
with law enforcement to
ensure our members were
alert of these scams.
APRIL
MAY
JUNE
Members elected
Kimberly Kinney
to represent
District 9
for a three-year term.
WREC participated
in a
“Men Bake”
event to
help promote
Habitat for Humanity.
WREC’s Education
Foundation awarded
100 scholarships valued
at $10,000 each, totaling
$1,000,000, to children
of Cooperative families.
OCTOBER
NOVEMBER
DECEMBER
WREC sponsored
its third
Habitat for Humanity
house in
Hernando County.
WREC’s Board authorized
a historic $17 million
Capital Credits Refund
and $8 million Revenue
Reduction refunding more
than $25 million in 2015.
WREC signs a
contract with NISC
to bring new software
to the Cooperative
that will provide more
access for our Members.
PAGE 11
WREC
2015 Annual Report
BETTER ACCESS FOR MEMBERS WITH
SMART HUB
FROM NISC
At WREC we know information is power! In December your
Cooperative signed a contract with NISC® to bring critical information to you at the touch of your fingertips with Smart Hub®!
Key Features of Smart Hub!
WREC
MEMBER
Support
• Members will be able to receive
detailed account information!
•
Members will be able to
perform service requests
including; tree trimming, street
light repairs, service connections
and disconnections, report and receive outage
information through texting and emails.
• Members can receive bill reminder notifications
and pay their bill through the Smart Hub app.
and will have the ability to store payment information to make
future payments faster and easier.
• Smart Hub will allow members to stay connected with WREC
directly through social media platforms such as Facebook®,
Twitter®, and Instagram®.
PAGE 12
2015 YEAR-END
STATISTICS
2015
Average Number of Accounts
Total kWh Purchased by Cooperative Members
Average Monthly Residential kWh Usage
2005
2014
207,320 186,112 204,365
3,811,169,074 3,452,789,026 3,685,142,759
1,186 1,242 1,165
Total kWh Purchased by Cooperative
3,973,445,883 3,607,668,152 3,826,121,670
Cost of Power Purchased by Cooperative
$321,333,291 $232,467,401 $307,534,416
System Peak Demand in Kilowatts (KW)
1,073,532 946,134 980,494
Number of Full-Time Employees
480 450 480
$ 25,187,905
$ 13,735,562
$ 15,186,202
Retirement of Capital Credits/Deferred Revenue Reductions
WREC added 2,148 new accounts in 2015 and purchased 147,324,213 kWh more
than the previous year. The Cooperative grew at a steady pace in 2015 with most of the
new growth occurring in the Wesley Chapel area. Your Cooperative began construction on three new substations to ensure adequate capacity to handle the growth.
PAGE 13
WREC
2015 Annual Report
COOPERATIVE
SERVICES IN PLACE
The chart below displays your Cooperative’s total number of
services for the past 15 years.
2015 221,678
2014 219,780
Economic
2013 218,440
Participation
2011 217,099
D EVELOP MENT
Value: Being a Member of Withlacoochee River
Electric Cooperative does have its benefits!
One of the cornerstones of electric cooperatives
is economic participation.
2012 217,210
2010 218,057
2009 216,738
2008 215,770
2007 213,362
2006 209,178
2005 199,676
2004 190,720
2003 182,484
2002 176,199
2001 170,998
140,000150,000 160,000170,000180,000 190,000200,000 210,000220,000230,000
PAGE 14
WITHLACOOCHEE RIVER ELECTRIC COOPERATIVE
CAPITAL CREDITS /REVENUE
RATE REDUCTION REFUNDS
$30,000,000
$25,000,000
$20,000,000
$15,000,000
$10,000,000
2011 - 2015
20152014201320122011
$25,187,905.58
$15,186,202.39
$15,173,453.48
$14,177,947.24
$14,205,748.61
Your Cooperative has returned more than
$242,351,000 in Capital Credits and
$65,000,000 in Revenue Rate Reductions.
2015 . . . .$25,187,905.58
2014 . . . . 15,186,202.39
2013 . . . . 15,173,453.48
2012 . . . . 14,177,947.24
2011 . . . . 14,205,748.61
2010 . . . . 14,207,534.22
2009 . . . . 14,394,160.28
2008 . . . . 14,163,123.30
2007 . . . . 14,151,954.90
2006 . . . . 14,000,041.79
2003 . . . . 12,082,542.22
2002 . . . . 12,029,598.91
2001 . . . . 11,949,301.35
2000 . . . . 10,000,136.94
1999 . . . . 9,999,990.72
1998 . . . . 10,000,049.55
1997 . . . . 10,000,073.72
1996 . . . . 9,001,332.33
1995 . . . . 7,093,413.51
1994 . . . . 9,048,234.54
2005 . . . . 13,735,562.17
prior . . . . 24,488,922.18
2004 . . . . 13,074,532.82
Totals . . .$307,351,762.75
Powering Your
COOPERATIVE
Where does your electricity come from?
PAGE 15
ASSETS, EQUITIES AND LIABILITIES
STATEMENTS OF
REVENUE &
PATRONAGE CAPITAL
Years Ending December 31
2015
BALANCE SHEETS
As of December 31
2014
OPERATING REVENUES
Energy Sales . . . . . . . . . . . . . . . . . . . . . . . . . $440,562,468
$426,622,001
Total Operating Revenues . . . . . $458,006,531
$443,529,622
Other Electric Revenues . . . . . . . . . . . . . . . . . . 17,444,063 16,907,621
$307,534,416
Operations . . . . . . . . . . . . . . . . . . . . . . . . . . 16,875,397 16,384,987
Maintenance . . . . . . . . . . . . . . . . . . . . . . . . . 17,758,364 16,937,238
Consumer Accounting . . . . . . . . . . . . . . . . . . . 12,118,562 11,992,869
Customer Service . . . . . . . . . . . . . . . . . . . . . . 233,167 211,674
Administrative and General . . . . . . . . . . . . . . . . 11,263,837 9,225,206
Depreciation . . . . . . . . . . . . . . . . . . . . . . . . . 25,009,120 23,886,941
Taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11,105,204 10,648,953
Interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16,844,031 19,078,249
Total Operating Expenses . . . . . . $432,540,973
$415,900,533
MARGINS
Operating Margins . . . . . . . . . . . . . . . . . . . . . $25,465,558 $27,629,089
Non-Operating Margins . . . . . . . . . . . . . . . . . . 6,784,733 7,250,664
Capital Credits from Associated Organizations . . . . . 8,597,565 8,586,981
Net Margins . . . . . . . . . . . . . . . . . . . . . . $40,847,856 $43,466,734
ASSETS
Cash and Cash Equivalents . . . . . . . . . . . . . . . . $ 152,514,479
Investments in Associated Organizations . . . . . . . . 104,216,857
$
Accounts Receivable . . . . . . . . . . . . . . . . . . . . . 14,508,006
168,686,788
96,600,411
19,192,908
Inventory . . . . . . . . . . . . . . . . . . . . . . . . . . . 19,529,475
Special Deposits . . . . . . . . . . . . . . . . . . . . . . . 120,895
22,626,967
120,895
55,172,215
Interest Receivable/Deferred Debits . . . . . . . . . . . 32,247,279
34,917,370
Utility Plant* . . . . . . . . . . . . . . . . . . . . . . . . . 541,326,739
515,761,682
Non-Utility Property . . . . . . . . . . . . . . . . . . . . 704,670
Total Assets . . . . . . . . . . . . . . . . . . $ 964,909,609
732,463
$
913,811,699
900,270
$
883,310
Total Equities . . . . . . . . . . . . . . . . $ 471,362,267
$
MEMBER EQUITIES
Membership Fees . . . . . . . . . . . . . . . . . . . . . . $
Capital Credits . . . . . . . . . . . . . . . . . . . . . . . . 470,461,997
446,802,026
447,685,336
LIABILITIES
Long-Term Debt . . . . . . . . . . . . . . . . . . . . . . $ 373,449,361
Accounts Payable . . . . . . . . . . . . . . . . . . . . . . 5,766,612
$ 365,462,087
6,281,026
Customer Deposits . . . . . . . . . . . . . . . . . . . . . 22,748,602
21,887,370
Other Current and Accrued Liabilities . . . . . . . . . . 40,166,327
32,254,639
Non-Current Liabilities . . . . . . . . . . . . . . . . . . 120,895
Deferred Credits and Miscellaneous Reserves . . . . . . 51,295,545
Total Liabilities . . . . . . . . . . . . . . . 493,547,342
Total Equities and Liabilities . . $ 964,909,609
*Net of Accumulated Depreciation
PAGE 16
2014
Prepayments . . . . . . . . . . . . . . . . . . . . . . . . . 99,741,209
OPERATING EXPENSES
Purchased Power . . . . . . . . . . . . . . . . . . . . . . $321,333,291
2015
120,895
40,120,346
466,126,363
$ 913,811,699
WREC
UTILITY PLANT
Includes substations, poles, wire, meters, etc.
AVERAGE RESIDENTIAL
USAGE (kWh)
WREC PROPERTY
TAXES
2015
$801,254,560
2015 1,186
2015 $7,482,699
2014
$765,289,298
2014 1,165
2014 $7,226,000
2013
$732,956,581
2013 1,131
2013 $7,676,134
2012
$707,456,790
2012 1,132
2012 $8,418,073
2011
$682,227,759
2011 1,175
2011 $8,213,284
2010
$661,363,285
2009
$639,281,270
$550$600 $650$700$750$800 $850
(in millions)
900 1,0001,1001,200
THE ENERGY
DOLLAR
$5$6$7 $8$9
(in millions)
SOURCE OF REVENUE
USE OF REVENUE
20152014
Residential
$ .75 $ .75
Commercial .21.21
Miscellaneous .04.04
20152014
Purchased Power
$ .71
$ .70
Operations/Maintenance.13.13
Depreciation
.05.05
Taxes
.02.02
Interest on Debt
.04
.04
Operating Margins
.05
.06
Total
$1.00$1.00
Total
$1.00$1.00
PAGE 17
WREC
2015 Annual Report
Withlacoochee River Electric
CO-OP OFFI CES
BILLY E. BROWN CORPORATE CENTER
14651 21st Street • Dade City, Florida 33523
Phone: 352-567-5133
www.wrec.net
ONE PASCO CENTER DISTRICT OFFICE
30461 Commerce Drive • San Antonio, Florida 33576
Phone: 352-588-5115
CRYSTAL RIVER DISTRICT OFFICE
5330 West Gulf-To-Lake Highway • Lecanto, Florida 34461
Phone: 352-795-4382
BAYONET POINT DISTRICT OFFICE
12013 Hays Road • Shady Hills, Florida 34610
Phone: 727-868-9465
WEST HERNANDO DISTRICT OFFICE
10005 Cortez Boulevard • Weeki Wachee, Florida 34613
Phone: 352-596-4000