5.2 ERMUSR 01-11-2022 - Laserfiche WebLink

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UTILITIES COMMISSION MEETING TO:FROM: ERMU Commission Melissa Karpinski –Finance Manager MEETING DATE: AGENDA ITEM NUMBER: January 11, 2022 5.2 SUBJECT: Financial Report – November2021 ACTION REQUESTED: Receive the November 2021 Financial Report DISCUSSION: Please note that these are the preliminary unaudited financial statements. Electric November’selectric kWhsales are down from the prior year, 4%. For further breakdown: Residential usage is down 8% Small Commercial usage is down 9% Large Commercial usage is down 2% Electric Operating Revenues for November of $3,346,086 are more than prior year by 23% and favorable to budget by 19%. November YTD is ahead of prior year by 6% and favorable to budget by 3%. The main driver of prior YTD variance is increased usage and PCA revenue. Other Revenues of $162,803 are less than prior year by 3% and unfavorable to budget by 6%. Other Revenues YTD are ahead of prior year by 10% and favorable to budget by 19%. Overall, Total Revenues of $3,508,889 are more than prior year by 22% and favorable to budget by 18%. YTD is more than prior year by 6% and is favorable to budget by 4%. Purchased Power of $2,217,566 is more than prior year by 27% and unfavorable to budget by 16%. YTD is more than prior year by 15% and is unfavorable to budget by 9%. YTD Energy Adjustment Clause charge is $2,473,337 more than prior year and $1,206,654 more than budget. Other Operating Expense of ($152,510) is due to relieving the Other Postemployment YTD Benefits (OPEB) liability ($208,273) due to the change from group-based medical premiums to age-based medical premiums. With this change ERMU no longer has an OPEB liability. ______________________________________________________________________________ Page 1 of 3 111