NOTICE TO ELECTRIC SYSTEM CONSUMERS OF INVESTMENT IN COMMERCIAL BROADBAND
Joe Wheeler Electric Membership Corporation (JWEMC) requested authorization from its regulator, the Tennessee Valley Authority (TVA), to invest in its commercial broadband division by acting as an unsecured payment guarantor for a third-party loan to the subsidiary. This Notice is being provided to JWEMC’s customers pursuant to TVA’s regulatory transparency requirements.
Previously, JWEMC filed an application with TVA requesting authorization to act as an unsecured payment guarantor for a third-party loan to its broadband division, JWEMC Communications, LLC d/b/a Flash Fiber (Flash Fiber). Specifically, Flash Fiber will use the loan funds received by the third-party lender to finance the deployment of broadband infrastructure and other business costs necessary for the provision of commercial broadband services.
The total combined fiber investment for electric and commercial broadband purposes is projected to be $175,000,000. Of this amount, the JWEMC plans to guarantee a loan of $18,000,000 to Flash Fiber for commercial broadband purposes. It is estimated that the total investment for both electric and commercial broadband will not have any rate impacts.
Any questions regarding this broadband investment should be directed to Gene Kanikovsky, General Manager, P.O. Box 460, Trinity, AL 35673, or by phone at (256) 552-2300.