About MEAG POWER
Who We Are
The Municipal Electric Authority of Georgia (MEAG Power) is a nonprofit, statewide generation and transmission organization. Recognized as one of the leading joint action agencies in the country, MEAG Power is among the top public power companies nationwide in terms of annual net generation, megawatt-hour sales and electric revenue. Its diverse, clean energy portfolio – delivering 66% emissions-free energy in 2021 – compares favorably with both the state and national averages.
MEAG Power provides reliable, competitive wholesale electricity to its 49 member communities (Participants), who own and operate their local electric distribution systems and serve approximately 319,000 customer accounts.
Financial Highlights
Three-Year Summary of Selected Financial and Operating Data (Dollars in thousands)
|
2021 |
2020 |
2019 |
|
|---|---|---|---|
|
Total revenues |
2021$714,194 |
2020$639,707 |
2019$648,904 |
|
Total assets and deferred outflows of resources |
2021$12,213,921 |
2020$11,590,566 |
2019$11,145,798 |
|
Property, plant and equipment, net |
2021$8,044,173 |
2020$7,430,336 |
2019$6,550,662 |
|
Debt outstanding (excluding defeased bonds) |
2021$9,090,092 |
2020$8,706,456 |
2019$8,499,698 |
|
Weighted average interest cost (1) |
20213.91% |
20204.10% |
20194.24% |
|
Total delivered energy to MEAG Power Participants (MWh) (2) |
202111,009,774 |
202010,377,224 |
201910,811,016 |
|
Cost to MEAG Power Participants (cents per kWh): |
|||
|
Total cost (2) |
2021 6.58 |
2020 6.88 |
2019 6.85 |
|
Bulk power cost |
2021 6.59 |
2020 7.02 |
2019 6.93 |
|
SEPA cost (2) |
2021 6.49 |
2020 5.37 |
2019 5.85 |
|
Peak demand (MW) |
2021 1,985 |
2020 1,927 |
2019 2,020 |
|
Total nominal generating capacity in service (MW) (3) |
20212,069 |
20202,069 |
20192,069 |
- (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) Excludes SEPA capacity which is purchased by the Participants and capacity purchased by MEAG Power from others.
Who We Serve
Many of the 49 MEAG Power Participant communities have fully integrated public utilities, offering not only reliable, affordable, low-emissions electricity, but also natural gas, water and sewer services, and fiber optic or digital communications connections. Moreover, these MEAG Power communities have: educated, skilled labor; excellent logistics; advantageous development zones; leading-edge industrial parks; and vibrant live, work, play amenities, with dynamic downtowns and myriad community enhancements for an improved quality of life.
MEAG POWER COMMUNITIES
- Acworth
- Adel
- Albany
- Barnesville
- Blakely
- Brinson
- Buford
- Cairo
- Calhoun
- Camilla
- Cartersville
- College Park
- Commerce
- Covington
- Crisp County
- Doerun
- Douglas
- East Point
- Elberton
- Ellaville
- Fairburn
- Fitzgerald
- Forsyth
- Fort Valley
- Grantville
- Griffin
- Hogansville
- Jackson
- LaFayette
- LaGrange
- Lawrenceville
- Mansfield
- Marietta
- Monroe
- Monticello
- Moultrie
- Newnan
- Norcross
- Oxford
- Palmetto
- Quitman
- Sandersville
- Sylvania
- Sylvester
- Thomaston
- Thomasville
- Washington
- West Point
- Whigham
Where We Work
Georgia is renowned for its pro-business environment, having been named the No. 1 state for business for eight consecutive years. Advantages range from its top-notch labor force to its world-leading logistics network and beyond. Georgia continues to attract new businesses and help existing businesses thrive.
State of Georgia
5.3Mdiverse, talented labor force
5.75%corporate tax rate
440Fortune 500 companies
located in Georgia
(18 have their corporate
headquarters in the state)
$10.97B in new investments in 2021
Our top5export markets:
Canada, China, Germany, Mexico, Singapore
33,439new jobs in 2021
Unrivaled logistics network rail/air/highway/sea
12th Largest exporting state in the U.S.
$42.4B a state record for
exports in 2021
Triple A bond rating
Quick Start #1workforce job training program
70%of all financial payments in U.S. pass through Georgia
Pro-Business Environment
- Georgia Advanced Manufacturing Center
- Georgia Bioscience Training Center
- Georgia Center for Innovation
- Georgia Cyber Center
- Georgia Film Academy
- Georgia Fintech Academy
Participant Achievements
A sampling of some significant 2021 accomplishments.
Economic Development
- Covington: SKC, a subsidiary of SK Group and a major polyester films producer in North America, announced it will invest more than $473 million in Newton County to manufacture glass-based substrates for semiconductor chips and create over 400 new jobs in Newton County.
- East Point: Microsoft Corp. will develop the East Point Data Center, a 250,000-square-foot facility situated on a 125-acre site located within Southmeadow Business Park. The value of the project is an estimated $420 million.
- Griffin: Rinnai America Corporation, a manufacturer of tankless water heaters, was completing its 300,000-square-foot manufacturing facility in 2021 and began hiring for 150 new jobs in early 2022.
- LaFayette: Roper Corporation, a subsidiary of GE Appliances and Walker County’s largest employer, will invest $118 million in expanding its manufacturing operations, creating an additional 600 jobs in LaFayette.
- LaGrange: Remington Firearms is moving its global headquarters along with a new advanced manufacturing operation and research & development center. RemArms will invest $100 million and create 865 jobs in Troup County over a 5-year period.
- Sylvania: Minder LLC has announced plans to build a data center facility, including constructing a substation, on 25 acres in the Screven County Development Authority Industrial Park. The development will occur in two phases, with the first phase in 2022 and the second in 2023.
Recognition & Initiatives
- Cartersville: The city has earned Georgia’s Exceptional Main Street (GEMS) designation. In all, 19 cities hold the GEMS recognition, including five other MEAG Power Participant communities: Acworth, Monroe, Moultrie, Newnan and Thomasville.
- Fort Valley, Griffin, Sylvester: All were recognized by the Georgia Department of Community Affairs’ PlanFirst program for comprehensive planning that is helping to create more vibrant communities. Previous PlanFirst designees include Douglas, Adel and Thomasville.
- Acworth, Covington, Lawrenceville and Moultrie: All four cities were among the nine recognized by the Georgia Municipal Association (GMA) and Georgia Trend in the third annual Visionary Cities Awards for projects that create positive change through collaboration and civic engagement. Previous Participant Visionary City winners include Douglas and Griffin in 2021, and Adel, Hogansville, Marietta and Thomasville in 2020.
