udwiremc 9-23-2019 krta presentation...microsoft powerpoint - udwiremc 9-23-2019 krta presentation...
TRANSCRIPT
UDWIREMC 2018 Key Ratio Trend Analysis
Brian StavishRegional Vice President
September 23, 2019
CFC’s KRTA
Developed by CFC in 1975
A statistical look at your cooperative
Allows a comparison to other cooperatives
Shows trends
Can help identify areas of strength and areas that may be improved
A good board and management tool
2018 KRTA Theme
Slow Customer Growth Across the Country
KWH Sales Increased 6.49% Across the USA
Strong Financial Performance by Cooperatives
Power Cost Stabilizes
Debt Cost Continues to Decrease
-6.0-4.0-2.00.02.04.06.08.0
10.012.014.016.0
TEX
AS
MIS
SOU
RI
AR
KAN
SAS
DE/
MD
/VA
TEN
NES
SEE
OKL
AH
OM
A
KEN
TUC
KY
SOU
TH C
ARO
LIN
A
ALA
BAM
A
IND
IAN
A
MIS
SISS
IPP
I
LOU
ISIA
NA
NO
RTH
CA
RO
LIN
A
OH
IO/W
V
ILLI
NO
IS
GEO
RG
IA
KAN
SAS
SOU
TH D
AK
OTA
NJ/
PA
WIS
CO
NSI
N
IOW
A
UTA
H
MIC
HIG
AN
MIN
NES
OTA
FLO
RID
A
CO
LOR
AD
O
ME/
NH
/NY/
RI/
VT
AR
IZO
NA
NEW
MEX
ICO
NO
RTH
DA
KOTA
WYO
MIN
G
MO
NTA
NA
CA
/NV
IDA
HO
AK/
HI
NEB
RA
SKA
WA
SHIN
GTO
N
OR
EGO
N
2018 2017 6.49 (US MEDIAN 2018) -1.02 (US MEDIAN 2017)
Growth in kWh Sales by State 2018 vs 2017
Key Industry Ratios
Annual Growth in Number of Consumers (%) – Ratio 115
Average Residential Usage Kwh per Month – Ratio 61
Power Cost – Ratio 88
National Growth Trends –KRTA #115
6
-1.00
-0.50
0.00
0.50
1.00
1.50
2.00
2.50
3.00
1997 98 99 2000 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18
Annual % Growth in Number of Consumers
UDWIREMC US Median
National Growth Trends – KRTA #61
7
900.00
1,000.00
1,100.00
1,200.00
1,300.00
Residential Kwh Monthly Usage
UDWIREMC US Median
National Trends – KRTA #88
8
0.00
10.00
20.00
30.00
40.00
50.00
60.00
70.00
80.00
90.00
1997 98 99 2000 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18
Power Costs
UDWIREMC US Median
UDWIREMC’s 2018 Ratios
Let’s take a look at some key ratios for UDWIREMC.
Key Financial Ratios
Modified Debt Service Coverage (MDSC) -Ratio 10
– Coop’s ability to repay principal and interest
– CFC’s requirement is 1.35
Equity as a percent of total assets – Ratio 16– Ability/willingness to finance plant w/o bank debt– RUS requirement 30%, CFC requirement of 20%
11
12
Key Expense Ratios Power Cost – Ratio 88 & 90
Depreciation & Amortization – Ratio 96
Salary Cost – Ratio 113
Interest on Long-term Debt – Ratio 23
These 4 categories total approximately 85% of Total Cost of Electric Service
14
15
16
17
18
Other Key Ratios Total Consumers Served – Ratio 1
Total Kwh Sold – Ratio 2
Total Miles of Line – Ratio 5
Annual Capital Credits Retired (%) – Ratio 24
Cumulative Capital Credits Retired (%) – Ratio 26
Residential Revenue Per Kwh Sold (mills) – Ratio 38
Residential Kwh Sales Per Total Kwh Sales (%) – Ratio 69
Total Controllable Expense per Consumer ($) – Ratio 87
Average Service Availability Index – Ratio 145
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21
22
23
24
25
26
27
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