2007 Annual Report
| 2007 | 2006 | % Change | |||
|---|---|---|---|---|---|
| Condensed Financial Data | |||||
| Operating Revenues | $ | 483,413,797 | 436,106,124 | $ | 10.8 |
| Operating Expenses | $ | 428,717,371 | 406,270,188 | $ | 5.5 |
| Operating Margins, before Fixed Charges | $ | 54,696,426 | 29,835,936 | $ | 83.3 |
| Fixed Charges | $ | 9,669,160 | 9,995,789 | $ | -3.3 |
| Nonoperating Margins | $ | 3,953,888 | 5,331,010 | $ | -25.8 |
| Net Margins | $ | 48,981,154 | 25,171,157 | $ | 94.6 |
| Total Assets | $ | 373,336,248 | 341,107,480 | $ | 9.4 |
| Long-term Debt | $ | 148,188,715 | 148,188,715 | $ | -3.0 |
| Patronage Capital and Contributed Capital | $ | 178,840,905 | 132,784,797 | $ | 34.7 |
| Financial Ratios | |||||
| Total Equity (%) (1) | 45.39 | 37.05 | 22.5 | ||
| Current Ratio | 2.67 | 2.01 | 33.1 | ||
| Debt Service Coverage Ratio | 4.46 | 2.65 | 68.3 | ||
| Debt/Funds Available for Debt Service | 2.31 | 4.19 | -44.9 | ||
| Equity/Total Capitalization (%) (1) | 52.70 | 43.01 | 22.5 | ||
| Net Plant/Net Debt | 3.06 | 2.13 | 43.7 | ||
| Operating Statistics | |||||
| Energy Sales (MWh) - Total | 6,783,588 | 6,477,751 | 4.7 | ||
| Energy Sales to Members (MWh) - SPP | 3,499,778 | 3,853,316 | -9.2 | ||
| Energy Sales to Members (MWh) - ERCOT | 1,033,345 | 1,070,645 | -3.5 | ||
| Energy Sales to Members (MWh) - Total | 4,533,123 | 4,923,961 | -7.9 | ||
| Energy Sales to Nonmembers (MWh) | 2,250,465 | 1,553,790 | -44.8 | ||
| Member Peak Demand (MW) - SPP | 993 | 1,021 | -2.7 | ||
| Member Peak Demand (MW) - ERCOT | 189 | 201 | -6.0 | ||
| Member Peak Demand (MW) - Total | 1,182 | 1,222 | -3.3 | ||
| Member System Load Factor (%) | 43.78 | 46.00 | -4.8 | ||
| Energy Generated (MWh) | 1,357,942 | 1,238,283 | 9.7 | ||
| Energy Purchased (MWh) | 5,522,155 | 5,335,567 | 3.5 | ||
| Gas Purchased (MMBtu) | 9,076,333 | 9,542,605 | -4.9 | ||
(1) Total Equity includes accumulated comprehensive losses of $9,400,000 and $6,400,000 for 2007 and 2006, respectively, related to cash flow hedges.