Related News
Related News
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September is National Preparedness Month: 3 tips to prepare your home & family
Let's "Be Ready" together!
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EWEB invests in preparedness for severe weather and natural disasters
Just as you take steps to safeguard your home and family, EWEB is investing in equipment and processes to ensure our community’s electric and water systems remain reliable in the face of adversity.
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EWEB customers achieve remarkable results in environmental stewardship through EWEB's Lead Green programs
Subscribers of EWEB's Lead Green programs helped reduce carbon emissions in 2023 by 730 metric tons of CO2e.
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EWEB, SUB and RWD join forces at Lane County Fair to distribute water to fairgoers
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EWEB explores rate increases to cover rising costs and to modernize infrastructure
Amid rising inflation and other challenges, rate increases are necessary to maintain reliable utility services and fund critical investments in Eugene’s water and electric infrastructure.
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EWEB preparing for expected surge in electric vehicles
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EWEB Hosts Dinner to Appreciate Customers of the McKenzie River Valley
EWEB hosted a customer appreciation dinner at the Walterville Community Center on Thursday, May 23, in place of its yearly upriver Board meeting. The event allowed customers, EWEB Commissioners, and staff to share a meal and openly discuss topics most relevant to the McKenzie Valley community.
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EWEB bids a fond farewell to College Hill Reservoir and prepares for modern drinking water storage tanks
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Tips to stay cool while saving money this summer
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EWEB offering additional energy efficiency supplement to qualified customers
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Grant awards of up to $30,000 to cover costs associated with electric mobility projects.
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The Big Freeze 2024: After Action Report
Winter 2024 was one for the records books, and we'll look back on it for years to come and say, "That was a doozy!" The back-to-back January Ice Storms caused widespread damage to EWEB’s service territory, affecting approximately 38,000 customers. Preliminary repair costs were over $8 million, and additional repairs to transmission lines are still required.
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Fixing the Unseen: Water Pipeline Replacement in Unincorporated Eugene
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New tanks come online as EWEB modernizes water system
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Letter from General Manager Frank Lawson to Customers
January 09, 2017
To our customers:
The past several years have been difficult and financially challenging for the Eugene Water & Electric Board. I'm pleased to report that Oregon's largest customer-owned utility has turned a significant corner and is today in a healthy financial position.
For many years, EWEB has sold surplus power to other Northwest utilities and used that revenue to hold down electric prices. But the advent of hydraulic fracturing created an oversupply of natural gas which caused wholesale electric prices to collapse. Without that revenue, the utility was forced to increase the prices we charge customers for electricity.
Rather than passively accepting this new situation, we've launched significant steps in the past few years to become more efficient, lower operating costs, reduce debt and defer or delay certain capital projects. The goal of these measures is to make EWEB more affordable for you, our customers.
In June, EWEB sold its Smith Creek Hydroelectric Project in northern Idaho. Because we have more power than our customers need, coupled with the depressed wholesale market, it made sense to sell Smith Creek. EWEB took the sale proceeds, added some funds from reserves, and paid off $27 million in debt.
In August, we refinanced $115 million in electric bonds to secure a lower interest rate. EWEB was able to accomplish this because the financial rating agencies studied our financial outlook and gave us high marks. Both Moody's and Fitch upgraded the electric utility's rating, and affirmed the water utility's strong rating.
The result of these actions for the electric utility is that EWEB will save about $47 million in principal and interest payments over the next six to 10 years. On the water side, we refinanced $29 million in bonds, which reduced debt payments by $5.6 million.
I continue to work with EWEB managers and staff to find more effective and efficient way to provide the high quality service our customers want and deserve. We've already identified over $2.5 million in cost savings for 2017.
The good news is that there will be no electric or water price increase for our residential customers in 2017.
These financial results and cost-cutting measures are good for customers and the community. We have less debt, excellent credit and we are positioned well to finance important projects such as the Carmen-Smith relicensing work and the second water plant in the future. Being strong financially helps us make good long-term decisions.
Stayed tuned. More good work is in progress.