Financials & annual report

Financial analyst at a desk reviewing data

2016 highlights

Financial (in thousands) 2016 2015 +/- % +/-
Operating revenue 1,093,545 $1,090,790 $2,755 0.3
Operating expenses 992,376 994,779 (2,403) (0.2)

Interest expense on long-term debt

(less interest capitalized)

80,281  82,837  (2,556)  (3.1) 
Net nonoperating income 21,197 22,073 (876) (4.0)
Net margin 42,085 35,246 6,839 19.4
Operational        
Energy sales (MWh)        
Members 17,879,974 17,924,012 (44,038) (0.2)
Nonmembers 5,098,943 4,595,969 502,974 10.9
Member revenue per kWh sold (mills/kWh) 51.57 51.16 0.41 0.8
Peak hour member demand (MW) 4,379 4,506 (127) (2.8)
Total capacity (MW) 5,700 5,891 (191) (3.2)
Net generation (MWh) 19,818,332 19,453,113 365,219 1.9

 

Kilotwatt-hour sales

(kWh in millions)

 

Operating revenue

(dollars in millions)

 

Operating expenses

(dollars in millions)

Members 17,880 78%   Members $922 84%   Generation operation $416 42%
Nonmembers 5,099 22%   Nonmembers $172 16%   Contracted generation $131 13%
                Purchased power $121 12%
                Depreciation and amortization $93 9%
                Transmission $89 9%
                Generation maintenance $74 8%
                Admin and general, taxes and accretion $68 7%
                     
         

 

2016 annual report

A machine is defined as an apparatus with one or more parts that uses energy to perform a particular task. Each part has a definite function, and together the parts of a complex machine must interlock, crank, turn and operate in fine-tuned harmony to achieve high performance and desired outcomes.

Associated Electric Cooperative is that well-oiled, fine-tuned machine, comprised of many parts working together and fueled by the energy of its employees to achieve the mission of providing members with affordable, reliable electricity and support services.

The Associated "machine" overcame numerous roadblocks in 2016, as well as captured opportunities and achieved goals and objectives.

Read more in our 2016 annual report, which also has the systems fact book at the end.

 

Past annual reports:

2015 annual report.

 

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 2016 annual report.

3rd QTR 16 MD&A and financial statements

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