Related News
Related News
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Improving habitat resiliency throughout the Upper McKenzie
Environmental Responsibility is a core guiding value for EWEB decision-making. This summer, EWEB continues its commitment to environmental stewardship with a robust slate of habitat enhancement updates throughout the upper McKenzie River, across the footprint of the Carmen-Smith Hydroelectric Project.
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Habitat Restoration Underway on McKenzie River
Partners at EWEB, McKenzie River Trust, the McKenzie Watershed Council, and the U.S. Forest Service broke ground on a major floodplain restoration project in Quartz Creek.
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Infrastructure upgrades at Nightingale Hosted Shelters made possible through powerful public-nonprofit partnership
Nightingale Hosted Shelters, EWEB, and the City of Eugene celebrate infrastructure milestone
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Hayden Bridge celebrates 75 years of service as EWEB looks forward to a new era of water resiliency
EWEB Water Treatment Supervisor, Toby Dixon, looks back at how the Hayden Bridge Water Filtration Plant has changed over the years and explains what EWEB is doing to secure a more resilient water future.
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EWEB opens applications for 2025 Electric Mobility Community Grant
The Eugene Water & Electric Board is now accepting applications for the 2025 Electric Mobility Grant, reinforcing EWEB's commitment to sustainability and cleaner transportation.
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Walterville Hydroelectric Project to remain offline through 2025
EWEB continues to pursue repair plans but must fulfill additional investigation requirements before resuming operation.
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Watch the Recording: Financial Preparedness for Disasters
How will you financially recover after a disaster? This seminar gives key insights into preparing your finances ahead of time.
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Greenpower subscribers vote to award Greenpower Grant to SquareOne Villages
The Greenpower Grant, funded solely by voluntary customer subscriptions, supports local sustainability projects.
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EWEB reaffirms commitment to resilience with Wildfire Mitigation Plan approval
The utility is testing new equipment, leveraging technology, and incorporating third-party expertise to bolster electric system resiliency to a range of threats, including wildfire.
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Vote now for the winner of the 2025 Greenpower Grant
Get ready to cast your vote for the winner of the 2025 Greenpower Grant. EWEB is excited to announce the eligible candidates for this year's grant award! The winner of the Greenpower Grant will be voted on by Greenpower subscribers. Learn more about each origanization and their proposal before casting your vote.
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Water professionals showcase skills in Cascade to Coast Competition
Representatives from local utilities competed to see who has the best-testing water, who can assemble a water meter the fastest and who find the most creative way to solve a routine problem that water utility professionals often face.
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Energy conservation could offset large portion of growth in power demand
Preliminary results of an EWEB study indicate that cutting back demand can contribute to maintaining a reliable, affordable energy supply.
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Small number of McKenzie Valley EWEB customers face higher February bills due to estimated reads
EWEB under-estimated energy usage for about one-fifth of upriver customers in December or January, resulting in higher true-up bills in February.
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EWEB offers Greenpower Grant to support local sustainability project
The Greenpower Grant, funded by voluntary customer subscriptions to Greenpower, not customer grants, supports projects that advance renewable energy, clean energy education or efforts to reduce or offset local carbon emissions.
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Rising Together: Female operation staffers begin industry mentorship program
One week into Women's History Month and just before International Women's Day on March 8, three women in EWEB leadership roles embarked on a 10-month-long journey of mentorship, fellowship, and professional development.
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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.