Co-ops Vote
Outage Center
Chiefland, FL — The Board of Trustees of Central Florida Electric Cooperative voted unanimously during its February Board meeting to begin exclusive formal due diligence and negotiations regarding a potential sale of its fiber-related assets to rural broadband provider Conexon. If a definitive agreement is completed, the proposal will be presented to CFEC’s membership for a vote at the Annual Meeting in May.
Nothing changes immediately for Fiber by Central Florida subscribers. Internet and voice services will continue operating as they do today over the Fiber by Central Florida fiber network.
In partnership with Conexon, CFEC launched Fiber by Central Florida in 2022 to bring reliable, high-speed internet service to the cooperative’s long-underserved rural communities. That effort has been successful. Today, more than 36,000 homes and businesses across the co-op’s territory have access to fiber service, with a majority of eligible members choosing to subscribe.
As the fiber system has matured into a strong and valuable network, the Board believes it is responsible to evaluate whether transitioning ownership would strengthen the cooperative’s long-term financial position while maintaining dependable service and sustainable, competitive pricing for members.
Under the proposed framework, the sale would allow CFEC to fully retire all fiber-related debt, including the costs of engineering and construction of the network. Additional proceeds could also be used to reduce other cooperative debt, strengthen the co-op’s financial foundation and improve the cooperative’s ability to manage future rate pressure.
Conexon has long partnered with electric cooperatives such as CFEC, focusing exclusively on rural broadband to deliver world-class fiber service to co-op members and communities. The company operates in 24 states and more than 80 markets, furthering its mission to close the digital divide for rural Americans in unserved and underserved communities across the country. Given the company’s scale, decades of rural fiber experience and existing close partnership with CFEC, a Conexon agreement would provide a strong long-term path for the continued success of the fiber system.
Electric cooperatives today operate in an increasingly complex environment marked by rising infrastructure costs, fuel market volatility, and significant storm recovery challenges. Evaluating opportunities that reduce financial exposure and help protect rate stability is part of the Board’s responsibility to its members.
“If a final agreement is reached, our members will make the decision,” said CFEC Board President Alan Mikell. “Our responsibility is to carefully evaluate this proposal and provide clear information so members can decide what is best for the cooperative’s future.”
Detailed information will be shared directly with members well in advance of the May vote.