2.3. ERMUSR 01-13-15 - Laserfiche WebLink

Home Browse Search

PROFIT AND LOSS NARRATIVE November 2014 Electric P&L November's electric kwh sales (for October usage) are down slightly, -1.2%, overall from the prior year. For further breakdown: • Residential usage is down-2.8% • Small Commercial usage is up 2.6% • Large Commercial usage is down-1% November Operating Revenue of$2,279,771 is under the prior year only slightly, -.34%, however, year-to-date is up 3.8%. We did not collect a PCA from customers in November and so the year-to-date amount collected remains at$333,676 in PCAs (15 mils)). (Remember that the financials are reflecting the transfer from reserves of$500,000 to offset the PCAs that we are absorbing. This is shown, on a pro-forma basis, as a transfer to Revenue and distribution from Equity, to represent in the financials the reserve allocation that normally occurs at the end of the year. For comparative purposes with the audit, in December we will reverse this distribution and show the actual difference that will transfer from Equity.) Other Revenue is comparable this month to the prior year, $150,953 compared to $160,688, and 9.5% above the year-to-date budgeted amount. Year-to-date, the biggest impacts this year over last year are: • Interest and dividend income is up due to a stronger economy. • Connection Fees are up considerably with increased building in the area. Overall, Total Revenues are just under the prior year by-.71%, and increased 4 % year to date, and are ahead of budget by .03%. The total purchased power cost of$1,399,689 is down slightly at -.61% from last year. The PCA included this month in our power bill was a small credit$6,429, for a year-to- date accumulated PCA of$707,900. As mentioned above, we did not charge our customers a PCA in November. In December, there will be 5 mils credited to our customers. 37