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Financials & annual report

Cover of 2018 annual report has background of a chart and a photo of Dell Power Plant

2018 highlights

Financial
(in thousands)
2018 2017 +/- % +/-
Operating revenue $1,209,881 1,082,700 127,181 11.7
Operating expenses 1,104,086 984,583 119,503 12.1

Interest expense on long-term debt

(less interest capitalized)

80,130 80,960 -830 -1.0
Net nonoperating income 27,094 26,865 229 0.9
Net margin 52,759 44,022 8,737 19.8
Operational        
Energy sales (MWh)        
Members 19,956,358 17,832,428 2,123,930 11.9
Nonmembers 7,341,329 4,539,720 2,801,609 61.7
Member revenue per kWh sold (mills/kWh) 47.33 51.48 - 4.2 - 8.1
Peak hour member demand (MW) 5,104 4,374 730 16.7
Total capacity (MW) 5,655 5,700 - 45 - 0.8
Net generation (MWh) 23,064,579 19,498,550 3,566,029 18.3

 

Kilotwatt-hour sales

(kWh in millions)

Operating revenue

(dollars in millions)

Operating expenses

(dollars in millions)

Members 19,956 73% Members $945 78% Generation operation $562 51%
Nonmembers 7,341 27% Nonmembers $265 22% Contracted generation $75 7%
            Purchased power $118 11%
            Depreciation and amortization $89 8%
            Transmission $91 8%
            Generation maintenance $94 8%
            Admin and general, taxes and accretion $75 7%

 

2018 annual report -- Momentum

Associated Electric Cooperative produces energy every day, but megawatts are not what fuels its momentum. That energy is found in its skilled workforce, management and leadership who push every day to see new perspectives, opportunities, tools and technologies, making the cooperative even better for its owners – the member cooperatives.

Visible in 2018, that force compelled Associated to complete an extensive long-term strategic planning process, which created energy that propelled the cooperative forward.

Within that momentum and strategy, five fundamental objectives – reliability, diversity, flexibility, optionality and agility – are evident and at work, from the safety record, operations and financial performance to member services, workforce training, cybersecurity and more. Read more in the 2018 annual report.

2018 annual report, audited financial statements and system fact book

 

Past reports:

2017 Annual Report and audited financial statements

2016 annual report and systems fact book

Interim quarterly financial statement

Associated Electric Cooperative presents interim financial statements, which include balance sheets, statements of revenues and expenses, statements of cash flows and management’s discussion to identify significant aspects in the current quarter and year-to-date performance of the cooperative. Interim quarterly financial statements are unaudited and should be read in conjunction with the Notes to the Financial Statements included in the 2018 annual report.

2019 second quarter MDA & financials (PDF)

 

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