Total Revenues (dollars in millions)
2021 total revenues increased $74.5 million due to certain timing factors, higher Participant billings related to a 6.1% increase in energy delivered and higher revenue allocations from The Energy Authority, which were partially offset by lower contract energy sales related to a scheduling agreement.
Total Assets and Deferred
Outflows of Resources (dollars in billions)
During 2021, total assets and deferred outflows of resources increased $623.4 million, due primarily to additional capital investment in Vogtle Units 3&4.
Total Debt Outstanding (dollars in billions)
During 2021, total debt outstanding increased $383.6 million due mainly to bond issuances and net premium amortization, which were partially offset by principal payments and refundings.
In 2021, peak demand increased 3% due to load recovery from the early stages of the COVID-19 pandemic in 2020 and new customer loads.
Average Interest Cost (percent)
The weighted average interest rate of MEAG Power’s debt was 3.91%, compared with 4.10% for 2020. The decrease was primarily due to lower variable interest rates, and lower fixed interest rates resulting from the 2021 bond issuances.
Cost to Participants (cents/kWh)
Total cents per kWh was 6.58 in 2021, compared with 6.88 in 2020. The decrease was primarily due to higher delivered energy, which was partially offset by higher Participant billings for fuel expense.