LCUB Moves Forward with Construction of Fiber Optic Network
LCUB Board of Directors Unanimously Approves Resolution for Development; Project Set to Begin June 2022
Lenoir City Utilities Board (LCUB) announced that the LCUB Board of Directors voted unanimously to approve the construction and development of a fiber optic network that will provide electric utilities grid modernization, as well as provide the infrastructure to launch fiber-to-the-premise broadband services to all LCUB Electric customers. The construction of the fiber optic network will begin in June 2022 and will progress over a three-year period until the construction in completed.
“LCUB held a townhall meeting on February 22, 2022, to present our plan to the community surrounding the construction of the fiber optic network and the launch of LCUB broadband services,” said LCUB General Manager Shannon Littleton. “We had a very large turnout at the townhall meeting, and the community was overwhelmingly supportive of our plan as they have been underserved or unserved altogether by other internet providers. We are thrilled the board unanimously approved the resolution to proceed with the construction of the network,” continued Littleton. “We will now be able to offer another highly critical, necessary utility, by offering fiber-to-the premise broadband services to all LCUB Electric Customers.”
The construction of the fiber optic network will begin in June 2022. The total combined fiber investment for electric and broadband purposes is projected to be $132.7 million. Of this amount, LCUB plans to loan $21.7 million to its commercial broadband division, for broadband purposes. Per TVA requirements and conditions of TVA’s authorization, the broadband division is required to repay borrowed funds from the electric division invested for broadband purposes. It is estimated that the total investment for both electric and broadband will not have any rate impacts on LCUB’s electric customers. Beginning in June of 2022, LCUB customers may visit www.lcub.com to obtain comprehensive information about LCUB’s Broadband offerings, and the timeline of availability to LCUB electric customers.
ABOUT LCUB
LCUB goes the extra mile to provide the highest quality service, using the most advanced technology to deliver personal utility needs at the lowest possible rates. Serving over 96,000 customers, LCUB provides electricity, gas, water and wastewater services to customers in Loudon, Knox, Roane and Anderson Counties in East Tennessee. LCUB is the 8th largest utility provider among the 153 Tennessee Valley Authority distributors. Offering advanced technologies and superior customer service, LCUB delivers smart services that enhance the personal, reliable service customers have come to depend on.