Financial HighlightsDownload Financials
|Three-Year Summary of Selected Financial and Operating Data
(Dollars in thousands)
|Total assets and deferred outflows of resources||$8,995,122||$9,115,995||$9,441,898|
|Property, plant and equipment, net||$5,070,174||$5,255,928||$4,913,961|
|Debt outstanding (excluding defeased bonds)||$6,781,075||$7,146,111||$7,543,321|
|Weighted average interest cost (1)||4.11%||4.09%||4.13%|
|Total delivered energy to MEAG Power Participants (MWh) (2)||10,453,361||10,771,270||10,561,753|
|Cost to MEAG Power Participants (cents per kWh):|
|Total cost (2)(3)||6.76||6.63||6.68|
|Bulk power cost (3)||6.69||6.58||6.63|
|SEPA cost (2)||7.80||7.34||7.29|
|Peak demand (MW)||1,884||1,923||1,941|
|Total nominal generating capacity in service (MW)||2,069||2,069||2,069|
- (1) Excludes the impact of certain net non-operating expense components such as receipts and payments pertaining to interest rate swap agreements, amortization of debt discount and expense, investment income, the net change in the fair value of financial instruments and interest capitalized. The rate is net of subsidies on Build America Bonds.
- (2) Participants purchase hydro energy directly from the Southeastern Power Administration (SEPA). Such energy is included in these calculations.
- (3) Funds from the Municipal Competitive Trust were applied to lower the Participants’ annual generation billings.
Total Assets &
(in billions of dollars)
Total assets and deferred outflows of resources decreased $121 million during 2017 due primarily to payoff of debt prior to maturity.
(in millions of dollars)
Total revenues decreased $38 million during 2017 due to certain timing factors, as well as lower Participant billings for debt service and certain operating costs. These items were partially offset by a planned reduction in Competitive Trust Funding and higher contract energy sales.
In 2017, peak demand decreased 2% due to milder summer weather compared to 2016.
Total cents per kWh was 6.76 in 2017 compared with 6.63 in 2016. The increase was due to decreases in energy delivered and Competitive Trust Funding, which were partially offset by reduced billings to Participants for certain operating expenses.