EPB During Snowstorm Had Highest Peak In Its History; Storm Was Costly To Utility

Friday, March 21, 2014

The recent snowstorm brought the highest peak power use in EPB's history, Finance Director Greg Eaves told EPB board members Friday.

The extremely high usage brought EPB the higher kilowatt usage it has been wanting to help balance its budget, but he said the usage was so high that TVA charged EPB and other affected utilities a demand charge.

Also, it cost EPB $4 million to get everyone's power back on. There were 182 crews and nearly 800 contractors involved for several days in clearing lines and getting them back online.

Mr. Eaves said the cleanup could have been much more costly except for EPB's Smart Grid. He said it automatically switched power back on for 40,000 customers.

David Wade, EPB executive, noted that the power line problems, unlike in most storms, were not in the mountainous areas. He said that was because, due to a slight temperature variation, the weight of the snow was heavier in the valley - causing limbs to break. 

EPB at this point in the fiscal year is $7.4 million below budget. Operations are $3.4 million over budget - manly attributable to the storm cleanup.

Mr. Eaves said the utility should begin to get back on track over the next several months.

He said the utility has had to deal with four of the six worst storms in area history in just the past three years.

Harold DePriest, president, noted that, "Five of the top six have been on my watch."

The fiberoptic side continues to be a much brighter story.

The video, phone and Internet service has made $9.8 million for EPB thus far this fiscal year.

Mr. DePriest said EPB needed to get 43,000 customers to make the TV operation profitable. He said it recently signed up the 56,000th customer. He said he projects it will get at least 75,000 - maybe within a year.

EPB just signed 560 units at Alexian on Signal Mountain.

The utility now has 3,900 customers on its gig service.   


SmartFinancial Reports Second Quarter Results

SmartFinancial, Inc., parent company of SmarkBank, announced on Wednesday net income of $1.2 million in its second quarter, compared to $0.1 million a year ago. In the third quarter 2015, SmartFinancial successfully completed the merger of two holding companies, legacy SmartFinancial, Inc. and Cornerstone Bancshares, Inc., and carried forward the name "SmartFinancial, ... (click for more)

Unum Group Reports Increased Net Income In Second Quarter

Unum Group on Wednesday reported net income of $236.8 million ($1.00 per diluted common share) for the second quarter of 2016, compared to net income of $224.3 million ($0.90 per diluted common share) for the second quarter of 2015.  After-tax operating income, which excludes after-tax realized investment gains and losses on the company’s investment portfolio ... (click for more)

Chattanooga Whiskey Company To Construct Large Distillery At Former Site Of Newton Chevrolet

The Chattanooga Whiskey Company has begun construction on a larger production distillery in the former Newton Chevrolet property at the corner of MLK Boulevard and Riverfront Parkway near the Tennessee River. Once fully operational, the Riverfront Parkway facility will be capable of producing upwards of 14 (53-gallon) barrels per day, making it one of the largest craft bourbon ... (click for more)

Beck Upset By Criticism Of Late WWTA Director Cleveland Grimes In WWTA Analysis; Boyd Won't Rewrite 57-Page Report

County Commissioner Greg Beck said it was inappropriate for fellow Commissioner Tim Boyd to include articles critical of the late Cleveland Grimes in a 57-page report on the Hamilton County Water and Wastewater Treatment Authority. He said, "Criticizing a dead man - I don't know if that's appropriate. If that's Christianity, let me off the wagon." Saying the report should ... (click for more)

Judge Steelman Was Unfairly Criticized In Handling Of School Bus Driver Rape Case - And Response

We are blessed to have freedom of speech in our society, but I am always amazed at the number of folks who voice such strong antagonistic opinions about things without any apparent first-hand knowledge.   As any who wish to criticize the system should know, people get arrested and charged for criminal offenses every day.  The ultimate charge and penalty which results ... (click for more)

Roy Exum: Vote For Rhonda Thurman

After studying the Hamilton County School Board quite harshly during the last seven most-tumultuous months in its history, it is only proper that I share my belief that Rhonda is its Most Valuable Player. Four of the school board’s nine members are up for re-election, with Rhonda facing capable opponents in Jason Moses and Dr. Patti Skates in District 1, but let’s never forget that ... (click for more)