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Selected Financial and Operating Data
| |
2012 |
2011 |
2010 |
| (Dollars in thousands) |
| Total revenues |
$814,545 |
$752,914 |
$741,799 |
| Total assets and deferred outflows |
$7,673,000 |
$7,533,012 |
$7,340,451 |
| Property, plant and equipment - net |
$3,905,379 |
$3,519,026 |
$3,073,578 |
| |
| Debt outstanding (excluding defeased bonds) |
$6,631,123 |
$6,603,313 |
$6,476,780 |
| Weighted average interest cost (1) |
4.42% |
4.47% |
4.39% |
| |
| Total delivered energy to MEAG Power Participants (MWh)(2) |
10,466,808 |
10,672,526 |
10,953,057 |
| |
| Cost to MEAG Power Participants (cents per kWh): |
| Total cost (2) (3) |
6.52 |
5.95 |
5.34 |
| Bulk power cost (3) |
6.42 |
5.87 |
5.32 |
| SEPA cost (2) |
8.18 |
7.26 |
5.62 |
| |
| Peak demand (MW) |
1,920 |
2,031 |
2,000 |
| |
| Total nominal generating capacity in service (MW) |
2,069 |
2,069 |
2,069 |
(1) Excludes the impact of other net interest expense components such as receipts and payments pertaining to interest rate swap agreements, amortization of debt discount and expense, investment income, the net change in the fair value of financial instruments, and interest capitalized. The rate is net of a 35% subsidy on Build America Bonds.
(2) Participants purchase energy directly from the Southeastern Power Administration (SEPA). Such energy is included in these calculations.
(3) Funds from the Municipal Competitive Trust were applied to lower the Participants' annual generation billings.
Ratings/Outlook Table
| Project |
Lien
|
Fitch
|
Moody's
|
Standard
& Poor's
|
|
Project One
|
Senior
|
A+/Stable
|
A1/Stable
|
A+/Stable
|
| Project One |
Subordinated |
A+/Stable
|
A2/Stable
|
A/Stable
|
| General Resolution Projects |
Senior |
A+/Stable
|
A1/Stable
|
A+/Stable
|
| General Resolution Projects |
Subordinated |
A+/Stable
|
A2/Stable
|
A/Stable
|
| Combined Cycle Project |
Senior |
A+/Stable
|
A1/Stable
|
A/Stable
|
| Vogtle Units 3&4 Projects: |
|
|
|
|
| Project M |
Senior |
A+/Stable
|
A2/Negative
|
A+/Stable
|
| Project J |
Senior |
A+/Stable
|
A2/Negative
|
A+/Stable
|
| Project P |
Senior |
A-/Stable
|
Baa2/Negative
|
A-/Stable
|
| |
|
|
|
|
Note: These ratings reflect the underlying unenhanced ratings for each resolution.