Financial Highlights

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Selected Financial and Operating Data

  2013 2012 2011
(Dollars in thousands)
Total revenues $714,363 $772,275 $739,163
Total assets and deferred outflows of resources $8,032,550 $8,121,676 $7,973,294
Property, plant and equipment, net $4,224,320 $3,905,379 $3,519,026
 
Debt outstanding (excluding defeased bonds)   $6,550,938  $6,631,123 $6,603,313
Weighted average interest cost (1) 4.48% 4.42% 4.47%
 
Total delivered energy to MEAG Power Participants (MWh)(2) 10,331,480 10,466,808 10,672,526
 
Cost to MEAG Power Participants (cents per kWh):
Total cost (2) (3) 6.59 6.52 5.95
Bulk power cost (3) 6.62 6.42 5.87
SEPA cost (2) 6.21 8.18 7.26
 
Peak demand (MW) 1,817 1,920 2,031
 
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 subsidies 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.