BROADBAND - WHAT DO WE DO NOW?
Gov. Bill Haslam on Tuesday, May 16, participated in a ceremonial signing of the Tennessee Broadband Accessibility Act, legislation that will expand broadband access in rural Tennessee by allowing electric cooperatives to provide retail service to co-op members.
STEMC commissioned a study by a consulting firm with expertise in broadband.
As a result of the study, we recently learned that the total cost to provide broadband to our service area would be approximately $110 million.
That would be $27.5 million per year for four years and would be equal to 90% of the total depreciated value of our electric system.
STEMC management will be further evaluating the results and make a recommendation to your Board on what we should do in the broadband market.
We will provide updates on the progress as they become available.