4.0 ERMUSR 02-08-2022 - Laserfiche WebLink

Home Browse Search

UTILITIES COMMISSION MEETING TO:FROM: ERMU Commission Melissa Karpinski –Finance Manager MEETING DATE: AGENDA ITEM NUMBER: February 8, 2022 5.1 SUBJECT: Financial Report – December 2021 ACTION REQUESTED: Receive the December 2021 Financial Report DISCUSSION: Please note that these are the preliminary unaudited financial statements. Electric December’s electric kWh sales are upfrom the prior year, 16%. For further breakdown: Residential usage is up 25% Small Commercial usage is up 31% Large Commercial usage is up 9% Electric Operating Revenues for December of $3,367,370 are more than prior year by 29% and favorable to budget by 24%. December YTD is ahead of prior year by 8% and favorable to budget by 4%. The main driver of prior YTD variance is increased usage and PCA revenue. Other Revenues of $180,016 are less than prior year by 21% but favorable to budgetby 12%. Other Revenues YTD are ahead of prior year by 7% and favorable to budget by 19%. Overall, Total Revenues of $3,547,387 are more than prior year by 25% and favorable to budget by 24%. YTD is more than prior year by 8% and is favorable to budget by 5%. Purchased Power of $2,338,094 is more than prior year by 28% and unfavorable to budget by 28%. YTD is more than prior year by 16% and is unfavorable to budget by 10%. YTD Energy Adjustment Clause (EAC) charge is $2,969,368 more than prior year and $1,584,431 more than budget. EAC variance to budget is partially offset by PCA revenue. Other Operating Expense of ($151,170) is due to relieving the Other Postemployment YTD Benefits (OPEB) liability ($208,273) withthe changefrom group-based medical premiums to age-based medical premiums. With this change ERMU no longer has an OPEB liability. ______________________________________________________________________________ Page 1 of 3 36