WINTER PARK, Fla.--(BUSINESS WIRE)--Jan. 11, 2005--By unanimous vote at last night’s meeting, city commissioners approved a long-term agreement with ENCO Utility Services (ENCO) that will provide Winter Park with turnkey electric distribution services. The commission’s approval brings the city one step closer to purchasing its electric distribution system, on target to happen later this year. In September 2003, in the highest turnout in 15 years, voters approved issuing $50 million in bonds to purchase the city's electric system from Progress Energy.

In response to the commission’s approval, Randy Knight, Winter Park’s assistant city manager, said: “We have spent the last 2 years in intense preparation for the day our city takes control of its electric utility future. In that process, we have developed great confidence in the ability of ENCO Utility Services to deliver the type of superior service our community has long desired.”

Dennis Eastman, president and CEO of ENCO, also commented on the commission action by noting Winter Park will be the first of several Florida cities moving to take command of their electric utility future. As such, Eastman underscored ENCO’s commitment to deliver Winter Park’s residences with service and reliability that is judged “Best in Class.” Eastman will lead the overall transition effort for ENCO.

ENCO Utility Services, with headquarters in Anaheim, Calif., provides municipal agencies entering the electric distribution business with a full complement of bundled electrical services from construction management to operation & maintenance as well as meter reading, billing and telephone center response. ENCO currently provides bundled utility services to municipal customers in California and Arizona.

Apollo Fund IV, a private equity fund with diversified holdings in excess of $1 billion, holds the majority ownership of ENCO.