Financial Highlights

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Selected Financial and Operating Data

   2019 2018 2017
(Dollars in thousands)      
Total revenues  $648,904 $681,328 $623,574
Total assets and deferred outflows of resources $11,145,798 $9,024,019 $8,996,764
Property, plant and equipment, net  $6,550,662 $5,690,057 $4,910,870
Debt outstanding (excluding defeased bonds)  $8,499,698 $6,662,341 $6,781,075
Weighted average interest cost (1) 4.24% 4.22% 4.11%
Total delivered energy to MEAG Power Participants (MWh) (2) 10,811,016 10,806,130 10,453,361
Cost to MEAG Power Participants (cents per kWh):       
Total cost (2) (3) 6.85 6.76 6.76
Bulk power cost (3) 6.93 6.80 6.69
SEPA cost (2)  5.85 6.24 7.80
Peak demand (MW) 2,020 1,904 1,884
Total nominal generating capacity in service (MW) (4) 2,069 2,069 2,069
(1) Excludes the impact of certain net non-operating 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 hydro 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 for the years ending 2018 and 2017.
(4) Excludes SEPA capacity which is purchased by the Participants and capacity purchased by MEAG Power from others.


    Fitch Ratings   Investors Service   Standard & Poor's 
Project Lien Rating Outlook   Rating Outlook   Rating Outlook
Project One  Senior A- Negative   A1 Stable   A Negative
  Subordinated BBB+ Negative   A2 Stable   A- Negative
General Resolution Projects Senior A- Negative   A1 Stable   A Negative
  Subordinated BBB+ Negative   A2 Stable   A- Negative
Combined Cycle Project Senior BBB+ Negative   A1 Stable   A- Negative
Vogtle Units 3&4 Projects:                  
 Project M  Senior BBB+ Negative   A2 Stable    A Negative
 Project J  Senior BBB+ RWN (1)   Baa3 Negative    A Negative
 Project P  Senior BBB+ Negative   Baa2 Stable    BBB+ Negative

(1) Rating watch Negative