CLOs on the Move

Understand the structure and function of the OUC Commission so you can better understand how OUC works for you. Over the last century, as Orlando evolved from a small town into a vibrant city, OUC— The Reliable One has been a community backbone, serving residential and commercial customers with dependable, low-cost electric and water services. OUC’s heritage dates back to 1922, when the city of Orlando bought Orlando Water & Light Co., a privately held company in operation since 1901. City leaders issued $975,000 in bonds to purchase and improve the utility. In 1923, the state Legislature granted the city a charter ...

Understand the structure and function of the OUC Commission so you can better understand how OUC works for you. Over the last century, as Orlando evolved from a small town into a vibrant city, OUC— The Reliable One has been a community backbone, serving residential and commercial customers with dependable, low-cost electric and water services. OUC’s heritage dates back to 1922, when the city of Orlando bought Orlando Water & Light Co., a privately held company in operation since 1901. City leaders issued $975,000 in bonds to purchase and improve the utility. In 1923, the state Legislature granted the city a charter to establish the Orlando Utilities Commission to operate the system. And after voters approved $575,000 more in bonds to expand the utility, OUC built a new, larger plant: the Lake Ivanhoe Power and Water Plant on North Orange Avenue, which now stands as a performing arts center. Orlando’s initial $1.55 million investment has grown into an electric and water utility with more than $2 billion in assets and annual operating revenues in excess of $673 million. Total electric sales have soared from 7 million kilowatt hours a year to more than 8.5 trillion kilowatt hours a year. Likewise, water sales have risen from less than 700,000 gallons a year to 31 billion gallons a year. Over the past 85 years, OUC’s customer base has grown from about 5,000 electric and water customers to more than 250,000, serving a population of more than 342,000. To keep up with this growth, OUC has built and expanded four power plants and eight water plants over the years, all financed with bonds covered by its own revenues. At the same time, OUC has consistently maintained double-A bond ratings, among the best given by analysts.

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