Covington's reliable, competitive electric power is secured from wholesale provider, the Municipal Electric Authority of Georgia (MEAG Power) that has over $8 billion in assets and 2069 megawatts of capacity. MEAG Power is a premier joint action agency that serves 49 Participant communities, like Covington, throughout the state. MEAG has one of the most diversified fuel portfolios in the country and provides electric power through their co-ownership of two nuclear and two coal-fired generating plants, sole ownership of a natural gas combined cycle facility, as well as ownership of over 1,300 miles of high-voltage transmission lines and nearly 200 substations. MEAG Power is also a co-owner of the new nuclear Plant Vogtle Units 3&4 estimated to come on line in 2017 and 2018, respectively.
The City also acquires 9MW hydro-electric generation from SEPA (the Southeastern Power Administration). SEPA supplies clean energy via operating multiple hydro-electric plants throughout the southeast.
Finally, when energy demand exceeds our secured contracted levels, power is purchased as needed from the wholesale power market. The wholesale power purchases can be economically advantageous, but add some volatility and are very sensitive to energy demand. To maintain competitive rates in today’s market, blending our generation portfolio with wholesale market purchases can be very advantageous. Our resources are working 24 hours/day to ensure that the right mix of generation and market purchases are being optimized to keep costs low and reliability high.