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2019 Annual Report

of Scale

MEAG Power:
A Joint Action Agency

MEAG Power is a non-profit joint action agency solely focused on serving our Participants, not shareholders. One of the primary advantages we deliver is economies of scale. Our Participants have a joint stake in three critical resources: assets, operations and influence.

Through joint action, our members are able to access the resources (infrastructure, operations and expertise) and pricing of a much larger, more diverse generation fleet than any one community could fund and maintain. Today, MEAG Power’s assets include more than 2,000 MW of generation capacity able to deliver 24/7 reliability, in addition to ownership in Georgia’s Integrated Transmission System (ITS). These substantial assets also reflect a highly diversified electric generation portfolio with the flexibility to adjust as market demand and pricing change.

MEAG Power Off-System
Energy Sales Margins
(dollars in millions)

Underlying MEAG Power’s array of generation and transmission resources is the ongoing work of our utility industry financial team who ensure that our projects are financed under the most favorable terms and rates available — using sophisticated tools and techniques, and taking advantage of the scale of a large, diverse system — all of which delivers value and results through investment-grade credit ratings and lower cost.

The objective is always to deliver the most cost-efficient wholesale power to our Participants, while at the same time taking full advantage of value-creating margin opportunities to buy or sell power and fuel throughout the Southeast.

These market opportunities are facilitated by The Energy Authority (TEA), another joint action membership asset. Through TEA, we have access to leading-edge analytics, resources and technology, as well as TEA’s team of experts who monitor and trade the aggregated resources of multiple public power entities 24 hours a day, 365 days a year, across the nation. MEAG Power, as a founding member of TEA, recognized that joint action was essential in creating the economies of scale and leverage necessary to successfully extract value from the wholesale marketplace.

Another valuable asset Participants benefit from is MEAG Power’s ownership in Georgia’s ITS. It is a unique 18,000-mile system that allows the efficient flow of electric power and eliminates the need for multiple private transmission contracts or non-owner access fees. Participants can access the ITS to deliver electricity to customers across 90% of the state when opportunities arise.

Quote Marks

Being a Participant of MEAG Power brings our community value we could not achieve on our own. Access to generation and market energy resources provides stability, reliability and economics that are needed for Quitman to succeed.

Mayor Nancy Dennard

MEAG Power Participants rely on a diverse and deeply experienced professional staff to schedule and manage generation resources, maintain and monitor the transmission system, and manage investment and debt portfolios, accounting records and other functional areas. Across all these areas, we are focused on serving our Participants in the ways that best meet their needs.

Among those is the need to stay abreast of state and federal legislation that has the potential to directly affect MEAG Power and its Participant utility systems. MEAG Power works with national trade associations, monitors bills and meets with legislators at all levels of government, which allows Participants to speak with a unified voice — an essential ingredient for having an effective legislative presence.