2006 Annual Report
Highlights
| 2006 | 2005 | % Change | |||
|---|---|---|---|---|---|
| Condensed Financial Data (1) | |||||
| Operating Revenues | $ | 436,106,124 | 480,531,985 | $ | -9.2 |
| Operating Expenses | $ | 406,270,188 | 427,880,730 | $ | -5.1 |
| Operating Margins, before Fixed Charges | $ | 29,835,936 | 52,651,255 | $ | -43.3 |
| Fixed Charges | $ | 9,995,789 | 8,807,729 | $ | 13.5 |
| Nonoperating Margins | $ | 5,331,010 | 3,400,813 | $ | 56.8 |
| Net Margins | $ | 25,171,157 | 47,244,339 | $ | -46.7 |
| Total Assets | $ | 341,107,480 | 356,023,079 | $ | -4.2 |
| Long-term Debt | $ | 148,188,715 | 152,787,376 | $ | -3.0 |
| Patronage Capital and Contributed Capital | $ | 132,784,797 | 109,623,962 | $ | 21.1 |
| Financial Ratios | |||||
| Total Equity (%) (2) | 37.05 | 28.32 | 30.8 | ||
| Current Ratio | 2.01 | 2.16 | -7.1 | ||
| Debt Service Coverage Ratio | 2.65 | 4.71 | -43.7 | ||
| Debt/Funds Available for Debt Service | 4.19 | 2.69 | 55.8 | ||
| Equity/Total Capitalization (%) (2) | 43.01 | 39.11 | 10.0 | ||
| Net Plant/Net Debt | 2.13 | 3.44 | -38.1 | ||
| Operating Statistics (1) | |||||
| Energy Sales (MWh) | 6,477,751 | 6,557,919 | -1.2 | ||
| Energy Sales to Members (MWh) | 4,923,961 | 3,751,491 | 31.3 | ||
| Energy Sales to Nonmembers (MWh) | 1,553,790 | 2,806,428 | -44.6 | ||
| Member Peak Demand (MW) | 1,222 | 941 | 29.9 | ||
| Member System Load Factor (%) | 46.00 | 45.51 | 1.1 | ||
| Energy Generated (MWh) | 1,238,283 | 1,464,805 | -15.5 | ||
| Energy Purchased (MWh) | 5,332,116 | 5,161,581 | 3.3 | ||
| Gas Purchased - GSEGC (MMBtu) | 9,542,605 | 11,044,339 | -13.6 | ||
(1) Total Equity includes accumulated comprehensive losses of $6,400,000 and $8,800,000 for 2006 and 2005, respectively, related to cash flow hedges.