Your PUD News Release
PUD insurance coverage comes in under budget
Chelan County PUD
News Release
5/24/2010
Premiums for the PUD’s 2010-2011 insurance package will be 7.7 percent less than budgeted, Ron Gibbs, insurance and claims manager, told PUD commissioners Monday. The total premium cost is down about $60,000 from last year, when property value reassessments pushed costs up.
Factors in the PUD’s favor during annual premium negotiations this year included no big claims during 2009; a shift of capital into insurance markets; and the PUD’s continued investment in upgrades at its dams.
“I think we’re where we want to be,” Gibbs said, as the PUD continues to look for cost-savings.
PUD commissioners approved the annual premium payment at an amount not to exceed $1.75 million for coverage including property, liability and equipment starting on June 1.
In other business, commissioners:
- Received an update on the PUD’s wholesale fiber-optic network, which offers access to high-speed Internet, telephone and HD-TV services in about 80 percent of the county from private firms. This month the system passed the milestone of 10,000 end-users who are taking at least one service from the private providers, a “take rate” of 32 percent said Dave Nelson, Operations group business adviser. Due to tight finances, the plan is to build access to 95 percent of the county by 2014. An update of the plan is awaiting a review by outside consultants and news on the PUD’s application for $25 million in federal stimulus funds. The PUD has invested $105.5 million overall in the system, which had a net loss of $7 million last year.
- Held a hearing as required on the state performance audit of operations at Chelan County PUD, Grant County PUD and Douglas County PUD for 2006-2008 to determine if there might be more efficient and less costly ways of doing business. No one from the public commented. A summary of Chelan PUD’s response to the report (which includes more detailed responses) is posted on the PUD website, www.chelanpud.org. PUD commissioners thanked PUD management and staff for setting an open tone in responding to the outside auditors.
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The Tuesday, June 1, 2010, commission meeting has been canceled. The next regular meeting is at 1 p.m. on Monday, June 7, 2010, in the PUD boardroom at 327 N. Wenatchee Ave.
Most PUD commission meetings are recorded, and a link to the audio is available on the PUD’s website at www.chelanpud.org.
Kimberlee Craig
Public information officer
Chelan County PUD
Wenatchee, WA
(509) 661-4320, office
(509) 679-6858, mobile
kimberlee.craig@chelanpud.org