FAQS

Several of SECO’s current buildings were constructed as far back as the 1930s and 1940s and most have exceeded their expected useful life. This includes our headquarters, office buildings, and warehouses.

Our buildings have served us well but are now outdated and insufficient to meet the demands of our growing membership. They no longer provide the space necessary to maintain our high standards of service reliability and operational efficiency.

SECO’s commitment to delivering reliable, affordable, and innovative energy services to our members drives this project. The rapid growth in our service area, combined with the age of our existing buildings, made it clear that new, modern workplaces are essential to sustaining our high level of service.

The new buildings will improve operational efficiency, centralize our operations for quicker response times, and allow for better service to our members. These upgrades will also support our future growth, ensuring we can continue to provide reliable energy and maintain our awardwinning member satisfaction. SECO energy prides itself on being the employer of choice in Sumter County and beyond. Providing modern workplaces for our team members is a critical piece of attracting and retaining the best and brightest talent, and ultimately what leads to member satisfaction.

Yes, cooperatives nationwide are investing in workplace upgrades to better serve their members. As demand grows and technology advances, co-ops like SECO are taking proactive steps to ensure they can continue providing reliable service and meeting member expectations.

While growth and infrastructure investments typically lead to periodic rate adjustments, SECO remains committed to keeping rates as affordable as possible. Our next cost of service study is scheduled for 2025, and any potential adjustments will be made with member impact in mind.

Construction is expected to begin in 2026. We anticipate completion of key buildings by 2028.

Yes, SECO considered renovation options. However, due to the age of the buildings and the significant infrastructure upgrades needed to support current and future operations, it was determined that new construction would be more cost effective and sustainable in the long term.

SECO’s investment in infrastructure, like other electric cooperatives, is driven by our dedication to providing reliable service at competitive rates. Our expenditures are carefully planned to ensure long term financial health while maintaining service quality and efficiency.

SECO has strategically managed its resources to ensure financial stability while meeting the growing demands of our membership. With rapid growth in areas such as Minneola, Howey in the Hills, Marion Oaks, The Villages and South Lake County, combined with the aging workplaces, we now see the need to invest in workplaces that will support continued growth and service reliability.

Yes, SECO has developed a comprehensive financial plan that ensures fiscal responsibility throughout this project. We will continue to comply with loan covenants and other financial requirements, ensuring that our cooperative remains financially sound while enhancing our workplaces.

SECO’s service area has experienced tremendous growth, particularly in rapidly developing regions such as South Lake County. Our new buildings will support this growth by enhancing our ability to meet increasing service demands, reducing response times, and improving overall operational efficiency.

This project will enable SECO to continue providing safe, reliable, and affordable energy services as we grow alongside our community. By investing in modern buildings, we will improve service response times, enhance operational efficiency, and support future growth, all while maintaining our commitment to affordable rates and excellent member service.

We are currently finalizing the total cost estimates for this multiphase project. SECO is committed to keeping members informed as we progress through the planning and construction phases.

The project will be funded through a combination of available capital, long term loans, and other financial resources that will allow SECO to maintain fiscal responsibility while making these essential improvements.

While SECO has a strong balance sheet, this project will require a mix of funding sources to ensure we continue operating efficiently without depleting reserve funds that are essential for ongoing operations and unforeseen circumstances. We are committed to maintaining financial health while investing in our co-op for the future.