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UTILITY BOARD APPROVES RENEWAL OF KEYS ENERGY SERVICES’ PROPERTY INSURANCE COVERAGE

03/24/2005 ~ The Utility Board approved the renewal of Keys Energy Services’ (KEYS) Property Insurance Coverage through Key West insurance, including flood and Terrorist coverage, at a total premium of $1,321,159.00.

The Florida Municipal Power Agency (FMPA) will reimburse KEYS approximately $309,810.84 for their generation equipment, fuel tanks, and diesel fuel in the tanks at KEYS Stock Island Generating Facility. KEYS’ net premium for 2005/2006 will be $1,011,348.16.

The regular meeting of the Utility Board took place at 5:00 p.m., March 23rd, in the Louis Carbonell Board Room of the William Arnold Service Building, 1001 James Street, Key West.

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