Find out more about how this website uses cookies to enhance your browsing experience.
Financials & annual report
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 First Quarter MDA & Financials (pdf)