ML19308D669

Annual Financial Rept 1967

ML19308D669
Person / Time
Site:	Crystal River
Issue date:	12/31/1967
From:	FLORIDA POWER CORP.
To:
References
NUDOCS 8003120741
Download: ML19308D669 (16)

Text

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_._ a,a l'e0 08 vtna 1958 1959 1960 1961 1962 1963 1964 1%S 1966 1967 ff fI 0 44k 820 9 145 306 9.60ks70 COMMON STOCK unoisve'autto tannincs et, spans

& oiv.ot=os cie slenRt Per Share Earnings & Dividends a.. m a.

4,me-eas e,w Number of Shares Outstanding at End of Year e

Population growth, a basic under-tial rate. More and more retirees home parks from commercial service pinning in the growth of any electric hase assured incomes large enough (on one meter) to individual resi-utility, continued at a rapid pace in to permit retirement to a warm dential service,2,801 of this increase Florida. In October, the U. S. De-climate. Augmenting pension funds, is a result of that program; but this partment of Commerce issued new of course, is the periodic increase in had less effect in 1967 than in 1966, population estimates to 1970 and social security paymen ts to retired when 3,583 homes were converted.

1985, projecting Florida to be the citizens of the state. It is estimated Any report on Florida's tourist busi-N o. I state in net migration rate that a $50-milhon impact is made on ness sounds susp;ciously like a between 196a and 198a. The state Florida s economy each month by broken record, because each sear is ranked second only to Califorma social security and related payments surpasses the preceding one..I'967 m the actual numbers of net migra-

. approximately 12"o of the state's preliminary statistics indicate that tion during that period.

population receives social security it was again a record tourist year, lletween April I,1960, and july 1, p yments.

and that 1968 will surpass 1967'. At 1967, the area served by Florida Personal income of Floridians in present, approximately 17-million Power Corporation grew in popula-1967 ran approximately 11% over visitors come to Florida each year; tion by 19.9%, while the United 1966. Consumer spending ran about and by 1970, it is estimated this will States as a whole was growing at the 7% ahead; the sale of farm products, grow to approximately 23.million.

rate of 10.3%. During the two 5-year up about 4"o; a id over-all business During 1967, one of the major air-periods, 1965-1970 and 1970-1975, volume as measured by bank debits, lines stepped up its service to Florida the service area of the company is up 9%.

during the winter season to the point where it had a expected to grow, in each period, plane crossing There was an increase in average Florida's boundary every five min-at the rate of about 15%"o... about nnu1 residential customers of 1% faster than the State of Florida utes, around the clock., and this l

as a whole and substantially faster

'I[63 19j I [ ' ** *P "' I"

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I 10 60 in 6 lines which serve the Tampa Inter-than the Umted States average i

in 1963. In accordance with a com-national Airport. The St. Petersburg (1965-1970, 6.5 "o; 1970-1975, 8.0 % ).

pany program to convert mobue area for 1967 en3'o}ed a 25"<o increase One of the important economic in.

in its summer t urist business, com-iluences on the population growth p red to a,% increase for the entire of Florida is the increase in assets of st te. It w s the highest increase of public and private pension funds, ny t urist center in the state during which continue to grow at a substan-the summer of 196e.

Foremost among significant eco nomic developments for the state in 1967 is the substantial growth of th.'

phosphate industry (reported under the " Sales Promotion" section of l

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, A na OROSS CONSTRUCTION EXPENDITURES tstiajavso this report). The gross resenue to Distribution of Florida's llowers is service area. In August, several of our or aany from the phosphate worldwide.. g!adiolus, f or example, our company executives made a de-industry im reased 307; in 1967 mer are shipped in large quantities to taikd presentation to Walt Disney 1966. the orange (omentrate industry Canada,.\\lilan, Rome, Parh, Zurich, Productions in Anaheim, California, l

imicased 19%, and total industrial and ten cities in Germany. Florida's of our plans for serving the Wah l

res enue inocased Iti.5";.

horse f arms, which, a little moie Disney World Co. property near Or.

' "8 ' ".ere just getting la ndo. The Disney people haw Phosphate r oi k deposits in the No".h

"""" b"""'Y (I" Lhe made lengthy studies concerning the Florida.nca being mined by Oui-n mic imp ct on the state, and (enter o the state), are ng sigmfi.

et dental of Florida indicate ti.at un.

cant part of the economy. There are predict an estimated 6-m, lion peo-d j

nnned resenes will sicid more than l

m te than 100 such farms producing ple each year will visit their Disney 20n million t o n s.

Ilorida auounts approximately 1,500 foals each year.

World. W alt Disney Productions l

for the largest share of marketable plans to invest approximatelv w-.00 1

prodm tion ol phosphate ro< k m. the Of (ointse, no report about the eco-i l?nited States. It is estimated that nomic development of Florida is

!*.Uton in the unture. D u n'.ng its iniaal construction stage in the first more than 5150 million a scar is complete these days without some ten ye rs f per ti n, it is expected added to the ec onomy of the state, reference to the Walt Disney World I

to generate directly 56.6-bilhon m m direct and m. direct business ac.

L.o., subsidiary of M, alt Disnev Pn>-

• * ' " ' * "" om i c benefits for tivity, as a result of the I>hosI> hate ductions. This project, southwest the State of Flon.da.

l mdustr y.

About 8,ono employees of 0 lando, has been previously re-l e.un 511million annually.

ported to stm kholders. The first The citrus industry expects a some-Two other lesser-known industries.n phase of this project is well under-what smaller crap this season th.v the state also show esidem e of auel.

way, with necessary drainage and last, but this will have only a modest crating progress. The flower industry land <learance programs progressing effect on the over all income et the in Flo ~da is one of the laster growing steadily. The Disney organization industry where prites fluctuate ac-phases of agriculture, and is gaining has set January 1,1971, as the target cording to the available (rop.

in relative importame. Cut flowers, date for opening the amusement potted plants. and nursery stock theme park and its associated motel Tighter controls on domestic federal expenditures will undoubtedly slow grown in the cate in 1967 sohl at and hotel ac commmiations on a construc tion of the CrosvFlorida tarm lesel ha Si5 million-up 67; 27,100-acre site within the company's Barge Canal, which has been under.

hom the previous scar and more way for almost four years. One of than 367; greater 'than in 1960.

the locks in our service area near Inglis has been completed, but it is probable that it will be the mid.70's before barges can be taken from the I

Gulf of.\\lexico to east coast states in the protective waters of the new f

canal. When the canal is opened, it 1

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will have a substantial benefuial ef-the evinornic devel<qment fett on of this part of our service area.

One nationwide c(onomic de\\ clop-ment that c ontinues to ha\\e an im-TOTAL. ELECTRIC pa(t on the state is the growth of the OPERATING REVENUES L

niobile home industry, w hich has atacto matast N"

been setting some phenomenal ret-ords in re< ent years. In the past h\\e t i,,i 9,5,5 3967 s " - ' '

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years. retail %iles of ruobile hoines 111.672 922 1966 k-ha% C risera f roin $3(H)-Inllltori to $1.',*.

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• 3 g ' 1ek ele,k

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billion. Of the total noniarm single.

99 826 693 1965 I

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la:Iuly housing prod uc ed iii the

,4,65. i o 7 i,64 nation f rom 1960 through NIar(h.

i 86.808.353 1963 F

s 1967. one ullit in e\\ery seten wa3

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a Hlobile horne In Florida, mobile so.77 s. 344 1*2 4

l hoIIIes nl.ide U}) 17.6] of recorded

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74 475.681 1%I s

pIl\\ ale housung m 19titi, and it 4

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E is estlII:Jted tliat this im reased iii 19t17.

61.999 366 1959 I

56 918 844 1958

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769 1%7 sel \\ a c d':et (l) to Illobile hotne own-1957 1958 1959 1960 1961 1962 1963 1964 1965 i966 1967 pim ing to be worthw hile be-en is t a use the <>t < upan ts of mobile homes can now u se moie elec t ricit y. In

, i where park owners had most < ases.

mstalled and owned distribution, madequate the cicitric ser\\ n c w a:,

- did not haw the < apacity to per-ma mobile home owners to mstall all of the elettrii appliames they w a n ted.

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i liighlighting the im reases were ex-i t.a

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?h unu the Armour Agricultural Chemical would build a new electronics facility 984 were all-electric. This 78.8c' all-o Company, both in Polk County. Two of (onsiderable importance in our electric connection is a formidable l

other phosphate companies made senice area, near Orlando. It is ex-record, one of the best in the nation.

major additions to their operations:

pected that this will get underway New shopping centers continue to be Swift & Company tripled the size of about mid-1968.

erected in areas of rapid residential expansion, and construction in this its proiessing plant and added sub-During the year 1967,68 new indus-c regory is expected to increase in stamially to its mining capability, nin were added to our lines. 215 ma-while m North Florida Ocadental 1968 Five entirelv new all-electric jor expansions were reported. Over-schwis were bm.it tn the company,s l

of Florida, Inc., m. creased its Lih>-

all the industrial gain was 70.000-kw service area in 196,,; the commercial watt-hour comumptiory by a0Qover onnected load, with an estimated

'.kpatment has (leseloped a special-the presions year. Occidental wdl, if annual resenue of $1.700,000. The ut to wo wah schm! systems it c ontinues to expand, bec ome our new industries and major expan-throughout the territory where new largest mdustrial customer.

sions will employ an estimated total schools are contemplated or expan-of 1,800 adth..t onal employees, with d M'e y Wh si a

Other industrial growth included ex.

an estim ted payroll of 59,000,000.

M-i N Wis Md od mm-pansions of plants such as plywood, poultry prmessing, citrus processing The success of the commercial sales tion in 1968.

and told storage, plastic manufactur-program in 1967 may be measured by ing, chemical pumps analyzers, an I the fact that 1,218 new commercial Apartment building in Florida, and artifuial kidney machines. The larg-oistomers were connected, of which in our service area, continues to in-est of the new industrial plants mov-(rease in popularity. Initially, many ing to our system in 1967 was the were the garden-type apartments of John Bean Division of FAIC Corpo-two or three stories; but recently, ration, manufacturing agricultural high-rise apartments hase 3hown evidence of becoming more near Winter some sprasing equipment Garden. The Geo Space Corpora-popular.

tion, man uf acturers of electronic mmponent parts, moved into our During 1967, there was no significant senice area-trom Fort Lauderdale change in the pac e of residential con-to S t. Petersburg. At year's end, struction. The sales department has there was assurance that the Dyna-continued to cueed its quotas as-tronics Division of General Dynamics 9*Q g g[

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that meet Medallion standards of high electrical excellence. During 1967, the 40,000th Medallion home was certified in our company's serv-PROPORTIONS OF OPERATING ice area. About six out of every ten new homes meet these very high REVENUE BY SOURCES standards, a record that is one of the best in the utility industry.

23 The average annual kilowatt-hour use per residential customer for the 12-month period ending December.

gg 1967, is 6.739-an increase of 142 kwh over a year ago.

11 %

The tempo of residential construc-110 tion stepped up somewhat in the tog Deltona deselopment, south of De-3 12 ral. It is expected that there will eventually he 20,000 families in this projc(t. and Deltona will then be the 90 largest (ity between Daytona Beach 10%

I and Orlando.

10%

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'I he c ompany has completed a survey of the use of varicus electric appli-10 %

ames in its territory. The study re-p

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scaled that 75(l; of our customers use

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j clet tric water heaters and 7Pl; of g

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them cook their food electrically.

3 60 Iloth of these percentages are escep-p 12 %

tionally high for the industry 8

13g nationally, 22"; have electric water s

50 hea te rs and 13"; elet tric ranges.

The c ompany also learned that the

'O (lothes dryer is used in 23"; of the homes we serse, and that the steady growth in the use of air condition-3c ing by our residential customers oser the past few sears has reached the stage where 60"; of them have 20 elet tric air < onditioning of some t s pe. These saturation hgures also are substantially above the industry 10 a s erage.

All resiclential sales campaigns con-1958 1959 1960 1961 1962 1963 1964 1965 1966 1967 ducted in 1967 successfully exceeded OTHER

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to number of customers served and size of was initiated in I957. Below is one,

I demonstrahon areas. The company now has 16 of 52 dish-and-reflector terminals such new offices, two of which were constructed in 1967.

Pictured is the Tarpon Springs office. Installed within 875 line miles.

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of the company continue to expand has embarked on a program of train-customers encouraged to use the tele-l j

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l their service to homemakers and ing existing line crews to install un-phone to obtain rapid service from make a substantial contribution to derground residential distribution the company. Irritating transferal of the favorable public relations which wiring, including on-the-job train-customers' phone calls from one de-ing. This provides flexibility and partment to another was practically

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the company enjoys.

ec n mies in c nstructi n and main-eliminated, ami the installation of f the rapidly increasing a teletype maciune between the tele-During five spring and summer ten nce months, a special sales campaign underground systems in our resi-phone secuon and the operations boosting air-conditioning equipment denual areas.

center has provided for prompt enlisted the aid of all company em-

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playees. In the course of the cam-During the last six months of 1967, 9".ests. After normal busmess hours, paign, 32% more air-conditioning approximately 50% of all new sub-dus telephone section is reactivated was sold than in any other compara-division additions in the Eastern t the request of dispatchers when ble 5 month period.

division of the system (Orange and emergency situations arise.

Seminole Counties, around Winter In an effort to further improve rapid Park) were supplied with under-restoration of service during and af-D...ivision Operations and ground residential wiring. The com-ter hurricanes. division operations Governmental Relations pany connected approximately 1,100 personnel conducted a practice alert new homes to underground residen-With the technical advances in ma-ti 1 distribation systems during 1967 terials and equipment for installing throughout its service area; this is distribution wiring underground, 3PProximately three times the num-and simplified installation proced.

ber connected in 1966, and three ures. substantial advances have I>een times the total existing underground made in this area. Prior to 1967, c nnecti ns in 196a.

underground distribution work was primarily performed by highly spe-Customer service operations in large urban centers were expanded to give better service to customers, including the expansion of facilities used dur-l ing normal business hours as well as providing better service after such hours. Customer service center hours Of d

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~@g Petersburg, were expanded to in-j UN clude Saturday. (Of course, emer-gency service is available around the clock.) Also, in Clearwater, a tele-12 m

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in June of 1967 to test the techniques New community development pro-

2. Also in 1967, plans were finalized which had been reexamined and re-grams were initiated in five com-for the purchase of four turbojet-vised following IIurricane Alma in mtmities on the company's system, powered generating mits for periods 1966. Approximately 300 key em-and prc, grams were reactivated in of peak demand. Two of these peak.

l ployees in the St. Petersburg area seven other communities, ing units are scheduled for installa-took part in this " dry run," with the ti n t Higgins plant (nes Clear-iesult that the company is better In 1967, high school seniors through-water) and two at Avon Park plant-prepared than ever before to handle out the companfs sem.ce area ao all before the end of 1968. The use emergency situations of this nature.

c rded our Scholarship for Leader-ship essay competition the largest of turbojet-powered engine generat-Electnc semce franchises were se-parucipation m its history. The sub-ing units for system peaking service cured with four of the smaller towns ject of essays in 196, was "What has proved highly satisfactory in the in our service area during 1967, and would my community be like with-an interconnection agreement be-out free enterprise?"

Fifty nine

3. The company's 41-year-old plant tween the company and a small, self-schools in the 32-county area partici-at Inglis, Florida (just six miles generating, isolated community was pated in the competition for the two north of the new Crystal River established. Relations between the

4. year scholarships; this compares plant) began a gradual phasing out company and the nine rural electric with the ten schools that participated from active service, and will be cooperatives it serves remain satis-in the first year of this program dur.

placed on 24-hour standby status to factory; additional territorial integ-ing the school year 1952-53.

serve as an emergency backup power rity and operating agreements were signed. At year-end, the company was negotiating with elected officials Operations l

01 Haines City concerning the fran-During 1967, the company made chase to serve that community which three important decisions concern-

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expires in April of 1968.

ing generating equipment:

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1. On August 10, the company made application to the United States Atomic Energy Commission for the necessary licenses and permits to construct and operate nuclear gener-ating facilides at the company's

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.m facility for the other plants on the being cleared and preparations being The company has two special process system. With a capability of 59,000 made for the construction of an on-line computers, one in the system kilowatts, Inglis is now the smallest additional 27 miles.

control center in St. Petersburg and.

an ther located at the Crystal River plant on the system; when it went Com'munications were improved dur-plant. These are in addition to the into service m 1926, it was the ing the year through the extension two computer systems in use at the largest. T8.e Apalachicola diesel f the company's microwave system

,s data processing division plant, mamtained since 1926 to Leesburg and Eusus, and the in St. Petersburg, which have appli-t assure firm power in that area, is no establishment of a voice channel be-cations in the commercial and ac-longer necessary; and in September tween urI ad dispatching office and counting area, as well as rate studies bids were solicited for the disposal E***

I and analyses, personnel reports, and of this equipment and property.

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On July 12, the company's hourly to improve coordination of inter-peak load reached 1,254,000 kw; connected operations. This channel New equipment obtained in 1967 this was the first time the company's will be invaluable in the event of for the meter department included peak occurred in the summertime any emergencies, and has heavy use a new tester, which increased produc-during a calendar year. For many in day-to-day operations.

tion of meter tests in the department and relieved personnel to perform years, our company has been one of The company continued to expand dun,es m the field, the few remainmg mvestor-owned in m of a mh epm c mpanies m the country wjth a tool: computers. A distribution Two mobile substations were pur-winter peak, due to the large mflux planning section was established in chased and tested during 1967, seven of tourists and wmter residents De-1967 to provide for more extensive new substations were completed and tember through March. A comb, a-computer application in this field, put into service, and six other new m

tion of relatively mild weather and and realized some savings in con.

substations are in the process of steadily increasing use of air con-struction costs arough improved being constructed but will not be u n ng was

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the completed until 1%8.

engineering methc,Js. The com.

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as Pany's computer programs m use In cooperation with other Florida majority of the air-cooling equip.

and be, g developed mclude genera.

utilities, the company continued its m

ment installed in our territory is

" n Performance calculations, sys-studies of system reliability and reverse-cycle heat pump equipment, tem ! ad analysis and data summary, system response to theoretical loss conditions are favorable for succes-I d flow programs for system plan-of important generating capability sive winter and summer peaks and nmg, pr grams used m the develop-anywhere in the state. As a result a more favorable load factor on our ment of a transformer load manage-of these studies, equipment is being system. The 4-year peak demand ment system, and tabulations and installed which will increas-tb e-forecast for the company is as reports for plant mamtenance.

liability of Florida's electric cv:c?

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1968: 1,530,000 kw During 1967, we were able to achieve 1969: 1,620,000 kw a significant improvement-some 385 1970: 1,720,000 kw Btu per kwh-in the system heat rate, which is a measure of overall 1971: 1,810,000 kw Completion of additional transmis-

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I tricity This r(presents mcreased sion construction has resulted in generating eff ciency systemwide of further strengthening of our sys'am.

A 230-kv line was completed from the Crystal River plant to a new Central Florida substation near Leesburg, and improvements were made in the Pinellas County trans-i l

mission system. Major construction of new transmision lines during the year amounted to 92 miles of new 230-kv transmission tower lines.

Rights-of-way are in the process of i

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clearance of transmission lines from this room.

towers (27 line miles) will be installed.

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3%%, and was largely due to full ment... the company pays part ing position descriptions, and rating e

usage of the new Crystal River plant, of the cost of approved outside them in formal job evaluation was permitting less use of older and less training courses.

undertaken and completed. This efficient units.

The competition to employ gradu.

Program will help the company to attr ct, retain, and motivate the ate engineers has continued to in-Administrative Services crease. The company found it de-highest quahty personnel.

and Personnel sir ble to institute a formal engi.

The company had an excellent neer recruiting program, which m-safety record agam, m 196s. Ior the Continuing the company program cludes university and college campus second straight year, there were no o

of personnel training to provide visits, plant tours for potential em-fatal accidents to any of the em-p skilled people required by our ex-ployees, and a specially prepared ployees of the company. In May, H

},.nding business, the personnel de-brochure on engineering challenges our company moved into first place partment was expanded during 1967; at the company. The success of this in the Southeastern Electric Ex-manpower development section program may be measured by the change Employee Accident Preven-a was formed in February and in-fact that some 25 graduate engineers tion Contest with less than one acci-cludes specialists in sales, employee, were employed during the year, the dent for every million manhours and manager training. Approxi.

highest number of any year in the worked. We retained that position mately 10% of all company em-company's history. According to an and won first-place honors among ployees are continuously involved industry organization, our company the largest utilities in the southeast in some type of personal Ovelop-was one of the top companies in the for 1967. In addition, four Edi-Southeast in percent acceptance of son Electric Institute Achievement employment offers at competitive Awards for safety were earned by i

salary rates made to engineers.

'e Also during 1967, a new salary ad-l ministration program for exempt employees was instituted. The pro.

O gram covers approximately 550 em-ployees, comprising supervisory, ad-ministrative, sales, and professional of analyzing these positions, prepar-D qqD g 1 % y_,

positions. A very intensive program J g

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. uma our employes, each totaling over I-by these and other changes during Afodernization and a complete new million man-hours.

1967. In September, J. E. Gleason, format for the company's house or-division manager of the company's gan for employees were completed The company.s property and casualty Ridge division, was promoted to in 1967; Power Lines took on a new msurance program was analyzed in manager of division operations. V.

look when it changed to magazine 1967 by a competent outside au-C. Nelson was named director of style and expanded coverage of in-thority, and found to be providing purchasing in January, and his re-formation helpful to the coordina-maximum protection at economical sponsibilities were enlarged to dirc:.

tion of the efforts of all employees.

tor of purchasing and stores in Also revised to magazine format in C * **

The transportation department of October. Also in October, J. C.

1967 was a publication which is cir-the company expanded into a new Huffer was promoted to chief system culated to appliance dealers through-and modern transportation repair-

operator, out the company's service area, Reddys Cunent &ws.,penew facility at our Clearwater operations The contract with the International center. The complete facility was Brotherhood of Electrical Workers

} k of both publications is m keep-4 Ing with the image of the company engmeered for cost-control, labor-representing our operating em.

as it m derm,zes its plant and equip-savmg operation, and wdl service ployees was subject to negotiations approximately 150 vehicles m the in October,1967. Negotiations were

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A change in personnel in the pubh.

c northern part of Pinellas County.

concluded in February,1%8, for a relations department enabled the The ccmpany has upgraded its fleet two-year contract with a wage i1.-

C mPany to strengthen its ties to the mechamzanon durmg 1967 by add-crease of 4.5% retroactive to Oct.

electr mc media so as to obtain bet-mg six of the latest type corner.

ober 23,1%7; and a wage increase ter publicity and cooperation from mount ime trucks, ten addauonal of 4.5% effective October 21,1%8.

TV and radio, includmg expansion aerial bucket trucks, two new modern The contract is subject to ratifica.

I as acuvines with the four educa-underground cable-pullmg um ts' tion by the union membership.

tional TV stations in the major pop-and two new earth auger trucks, ulation centers served by the com-As this report goes to press, substan.

Public Relations pany. Educational TV is proving tial work has been done m connec-m be very useful in explaining how tion with the planning of a new Afajor stories for the year about the headquarters office building. The company mcluded the application W

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compmy is still operating in four i r the nu, lear plant, participation g

g different locations in the City of St.

f the company in community ef-Petersburg, which came about as the forts to establish a hi h-rise develo1w Pany to t1te generaI public and stu-8 dents. At the same time, the weekly ment to include a company headquarters staff outgrew the space provided in its present headquarters headquarters buildmg m downtown and daily newspapers were kept in-f d em Wie s building occupied in 1925' St. Petersburg, and the rate orders which were issued by the Florida regular calls by an expen.enced j.our-the staff of the pubh,c n list n One of the more interesting and effec-Public Service Commission. A din-tive activities undertaken in connec.

ner was held in New York to intro-relations department.

tion with planning for a new head-duce the new company management Afembers of the department actively quarters building was the consulta-team to the financial community, participated in the development of tion with specialists m " environ-and the necessary press releases con-the programs of the Electric Com-eucs." In the course of researchmg cerning the new executive alignment panies Advertising Program, the I

headquarters requirements, company were circulated throughout the State Public Information Program of the executives learned that it takes of Florida.

electric utility industry, and the specialized experience to make maxi-Task Force on Enviromnent of the mum, efficient, and economical use Edison Electric Institute, of office space. Our consultants have Part of the public relations program helped us to complete programmuig, of the company included issuing in-space plannmg, and interiar design formative publicity concerning a

to provide the most functional and bill before the last session of Con-pleasant environment for employees.

gress to establish a Rural Electric Afost of this phase of the phnning Bank. It is expected that this issue IS C mP eted.

will again require considerable at-l Important and extensive changes in tention by the public relations de-the company's officers and board of partment in 1968, along with directors are covered on pages 4 and distribution of information con-5 of this report. In addition, other cerning the proposed Federal Power promotions to executive positions Commission Reliability Act being within the company were triggered considered by Congress.

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Again in 1967, employees from all County, an intervenor in the case, upheld by the full Commission, will departments of Florida Power Cor-petitioned the Supreme Court of the require the company to interconnect poration served the communities in State of Florida, asking it to review its system with Gainesville provided which they live and work in a great the record of the rate case proceed-(1) an agreement is first reached be-variety of civic, fraternal, profes-ings bec c e the Commission did not tween the parties defining the service sional, educational, and govern-sufficiently reduce the company's territory of each and under which mental organizations. The variety

" return level."

all duplication of facilities will be t

eliminated, and (2) the company of responsibilities accepted illustrate On January 19, 1968, the Florida files a rate schedule reflecting the the value of these acu, vines to the Public Service Commission sent a terms and condinons of the inter-company's pubhc relations; for ex-letter to the company directing ample, employees held positions as a further reduction of the company's C ".nection as prescribed by the ex-national commandar.t of the Marm, e

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annual revenue by $4,094,000, based l

Corps League, president of the local upon the year ending September 30, The 1966 annual report also in-Umted Fund, and chairman of a 1967. The company has agreed to formed stockholders that the com-

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y metropolitan county park board.

make this further reduction because pany had received a complaint, filed Hundreds of employees throughout of improved operating efficiencies, before the Federal Power Commis-the service area accepted the clial-including capacity operation of the sion by ten Florida municipal cor-lenge of good citizenslup by working new Crystal River Plant, and other porations to whom the company with PTNs, scouting, church boarb economies planned amt introduced sells power wholesale-for-resale, chambers of commerce, Jumor by the company to reduce the cost alleging rates to be unreasonable and Achievement, and charity fund of electricity for our cmtomers, asking that the rates charged electric

.Peratives be applied to these mu-C The Florida Public Service Commis-

",lc'PjIi[hoIeIe"rfthrou 1 Rates and Regulation sion issued an order dated October 24,196,, approvmg the company s mPany offer of an annual revenue C

In 1964, the Florida Public Service plan for disposition of the 1964 fed.

reduction of $230,000, based upon Commission initiated an investiga-eral income tax savings. The year the test year of 1966, the rates to this tion of the rates, charges, and earn-1964 was the year that the federal

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ings of all electric utilities in Florida income tax rate on corporations was The company expects formal ac-under its jurisdiction. In March of reduced from 52% to 50%. The total CePtance of this settlement by each 1967, the company received an order refund that was made amounted to I the mumcipalities sometime m from the Commission requiring it approximately $1,200,000, and was

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to reduce its rates and maintain a shown as a credit on December,1967, separation between its retail business bills to customers. No further re-By order dated September 12, 1967, and its wholesale business to munici-funds on income tax reductions are the Florida Public Service Commis-palities and rural electric cooperative pending.

sion instituted an investigation of the promotional practices of all elec-customers, the Commission taking Last year,s annual report informed tric and gas utilities under its juris-the position that the wholesale busi-

• • ckholders that the City of Gaines-diction. The Commission wishes to ness falls within the jurisdiction of

{d r from tl dmim& h h pm Fede ville seeb an the Federal Power Commission. On 7

m y have on competitive busmesses, i

January 1,1968, the company put company "to establish Asical con.

whether such promotional pracuces mto effect rate schedules which re-g gg ;

,g g g; by the utilities are excessive or dis-l flect a reduction in the price of elec-with the facilities of Gainesville and tricity to our retail customers of to sell and exchange energy with grimm t ry, and what regulanons, if ny, should be adopted for govern-approximately $1 milh,on annually.

Gainesville under the same terms On December 21, 1964, Pinellas ing pr m ti nal practices nd al-and conditions at which it sells and 1 wances. On November 15,196s, exclanges energy with other electric dm company filed an exhaustive re-utilities." The company offered b

to enter into an interconnection ar-p rt with the Comnussion m re-SPonse to dus invesdgation.

rangement providing the company receives adequate revenue and terri-torial integrity. The city declined the offer and, thereafter, public hearings were completed and briefs to the hearing examiner were filed.

The presiding examiner at the hear-ings transmitted his initial decision to the Federal Power Commission on January 17,1%8. The decision, if i

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CRYSTAL RIVER PLANT - The picture below was taken from the bridge of the coal barge, Delores Rodgers,

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as i: approached the Crystal River plant from the Gulf of Mexico. The construction on unit #2 is visible directly in the center of the picture.

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The nuclear project team at Florida Crystal River Plant genem.ing 387,000 kilowatts, was formally dedic tied in November, Power Corporau,on is headed by Crystal River Plant-the single, most 1966, and is estirr.ited to require Nuclear Project Manager joel T.

extensive construction project m the approximately 850,000 tons of coal Rodgers, who also is the company's history of our company-has been each year, or 17-million tons dur-chief mechanical engineer. Hit team underway since early 1964. Present ing the 20-year contract periad.

consists of members of his depart-mental staff and key men from other plans call for contmuous expansion throughout the next five years, cul.

While dedicanon ceremomes were departments, who serve as liaison minating in, our first nuclear.

bemg conducted for umt #1, con' advisers from their specific opera-powered generating facility in 1972.

struction crews were already at work tions. In addition, there are repre-preparing the foundation site for sentatives on the team Irom the Since the 4,738-acre site was acquired and E'2, which will also be coal-firedC mPanies which will design the unit in late 1963, this plant contruction hich is scheduled to go into nuclear Power unit, the steam stpply has been the focal point of consider-commercial operation in 1969 with

' stem, and the contractors who will able public interest and attention-an additional 510,000 kilowatts of bu Id the new facilities.

not only by residents and business power.

leaders in the immediate Crystal During construction, every nuclear River area, but also by local, state, Target date for the, nuclear-fueled phase will be under the in ection and national news media. Construc.

umt #3 at Crystal River is 1972. It of technical experts appointe by the tion payroll alone for the Crystal is planned to generate an additional Atomic Energy Commission. All River plant during the next five 850,000 kilowatts, brmgmg the 3-supervisors in the production depart-years is expected to be approxi.

unit Crystal River plant to a total ment of the company have attended mately $5-milhon annually; this will capacity exceedmg that of the com-a nuclear indoctrination course, and have a substantial, beneficial eco.

pany s system at the end of 196s.

some will take part in a 15-week nomic impact on the Citrus County To obtain construction permits for training course to be given early in 1968. These measures are necessary its nuclear plant, the company must to repare for the start-t.p of the Crystal River plant unit #1 is the establish its technical qualifications nu e r umt m 1972.

first in our system to use coal. Cor-and financial responsibility, and a 20-year, must also satisfy the Atomic Energy Gilbert Associates, of Reading, porate officials signed 3100-million coal contract in October, Commission that the nuclear plant Pennsylvania, will design the nuclear 1961, with the Peabody Coal Com-will be built and operated safely.

plant, the steam supply system will pany of St. Louis, Alissouri. The be a pressurized-water reactor type coal is mined in Kentucky, barged In August, the company's apph.ca-furnished by liabcock 8: Wilcox down the Alississippi River to New tion, and the 4 volume,,1000-page Company, and the turbine-generator Orleans, and then shipped across the Prehmmary Safety Analysis Report unit will be supplied by Westing-Gulf of Alexico to the plant site in were submitted to,the, AEC. At this house Electric Corporation.

huge, oceangoing barges. Unit #1, time, the AEC's Division of Reacto,r Licensmg is reviewmg every detail of the application; it is expected that a public hearing will be held r-aqQfqf[3p'qgM g ae by summer of 1968, and that mon-D struction may begin by fall.

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