There are times in life when we make a decision and then weeks, months, or even years later, circumstances change. If we exercise humility in those situations, we may have the opportunity to make a better choice, with more information. That was the case recently for ECE regarding our position on broadband internet.
In 2019, ECE hired a consultant to conduct a feasibility study for broadband in our service territory. That feasibility study provided strong evidence that entering the broadband business would almost certainly put ECE’s financial position and electric assets at risk because of the large amount of debt required to make the investment in fiber and other equipment. Based on that study, ECE’s Board of Directors made the decision to forgo investment in broadband.
We all know that the pandemic has intensified the need for high-speed internet. Students and employees are working remotely more often. Tele-health and virtual meetings are becoming much more common and some of those changes will stay with us long after the pandemic has subsided.
However, this evolution of society has been harder for those with poor internet coverage. State and federal governments are taking notice. Funding opportunities are becoming increasingly available. As a result, ECE has made the decision to take another look at a regional solution to broadband. We are working on refreshing our feasibility study and are engaging in conversation with county officials to determine if ECE is the right candidate to provide a comprehensive solution to the broadband crisis in our communities.
In general, electric utilities make good broadband providers because future smart grid initiatives require solid, fast communication methods. Owning and operating a fiber network would give ECE and its members the value of smart grid technologies and would increase the efficiency and performance of our electric distribution grid.
This second look at broadband is being performed for good reason. We will continue to use sound judgement and exercise fiscal responsibility for the assets our members have entrusted to us. We will keep you updated.
At your service we remain,
Justin