Fiber optics has proven to be a boon for EPB and for subscribers. When it was first installed 10 years ago, the company expected to have 30,000 customers. In 2020 that number is 116,500.
The commercial sales department with just 20 employees, which provides fiber services to assist businesses, billed $38.7 million last year. Services include Internet connections at varying speeds, phone and wi-fi, the ability to link multiple work spaces and co-locations as well as TV.
These capacities have been helping businesses to transition and survive during the Covid pandemic, with work being done from home instead in an office setting. Alternative fiber paths that can go to a single address, have been created, much like the smart grid for power, because businesses cannot afford to have interruptions. And new products are on the horizon aimed at helping businesses.
CEO David Wade said that the times of maximum band width usage has shifted from what it was in early March before the pandemic closed offices. The shift indicates that people working from home are now using EPB’s network versus using their company’s Internal network. In total volume, there has been an increase of 48 percent in six months.
The Ed Connect program that connects students and households to the Internet is also continuing to be expanded. There are now 5,200 households connected through Ed Connect that provides free Internet service.
When the yearly budget was created, it was expected for new businesses to pull back because of the effects from Covid, but instead EPB is seeing business developing. The growth is around new subdivisions, which is driving the company’s new business growth, said CFO Greg Eaves. The residential fiber optics business is $350,000 above budget with the high number of subscribers. Year-to-date $5.9 million has been made from the Internet and video, versus $4.1 million that had been planned for.
The cost to EPB to repair or replace equipment and restore service from damage caused by the tornadoes that passed through Chattanooga Easter night, is around $26 million. There is also the $2 million cost for over 1,500 contracted utility workers and the additional expense of travel, lodging and meals for them. The required, detailed documentation needed to make a claim have all been submitted and will be reviewed by FEMA. When EPB receives and agrees with their assessment, reimbursements should start.
The board was given a report from the company’s United Way drive led by Lisa Miller. She said it was held virtually this year and without setting a monetary goal, and that what was received was outstanding. Employees had a 93 percent participation rate and raised $230,000. Additionally, a fundraiser raffle for gift cards from local businesses raised $8,000 more. She said since records started being kept in 1993-1994 EPB has given $4,781,782 to the United Way.