Chugach Outlet
May/June 2001, Number 192

Complete Board Report

Chugach sold 190.8 million kilowatt-hours of electric power in February, about 28.2 million kwh less than projected by the budget. Wholesale power sales accounted for 86.8 million kwh, retail sales for 96.8 kwh and economy energy sales for about 7.2 million kwh. Year-to-date sales stood at approximately 408.9 million kwh, about 49 million kwh less than projected by the budget.

Chugach finished February with operating revenues of $14.5 million, about $539,000 less than anticipated by the budget. Year-to-date operating revenues stood at $30.6 million, about $161,000 less than anticipated by the budget.

February expenses were $9.3 million, about $48,000 less than projected by the budget. Year-to-date expenses stood at $18.9 million, about $254,000 more than projected by the budget.

At February's end, Chugach's equity-to-total-capitalization ratio was 29.64 percent.

By comparison, Chugach's year-to-date February 2000 power sales totaled 466 million kwh, while operating revenues were $28 million and expenses were $23.2 million. Chugach's equity-to-total capitalization ratio at the end of February 2000 was 27.41 percent.

In other action at the April meeting, the board:

• Approved filing a change with the RCA to Chugach's tariff and line extension policy to phase out Chugach's contribution amount.
• Approved directors' expenses.