HomeMy WebLinkAboutMunicipal Electric Study
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R.W. BECK AND AsSOCIATES ....."._",ZrS;0iJf
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E>..:GINEERS AND CONSULTA,'JTS
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51 SAWYER ROAD
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V l'ti OF C:J~" l..~.. ;..., ..GE~ERALOffICE
'''''J V f 1-',' . ;SfAITLf, WASHINGTON
... ~ri:l;hOne: 206-441-7500
Telex: 4';190402 8ECKSEA
Waltham. MA Telecopier:
617-899.5460
PLANNING
OESIO-l
RATES
ENVIRONMENTAL
ECONOMICS
,'o\ANACEMEN r
TWO UNIVERSITY OFFICE PARK
V\lALTHAM, MASSACHUSmS 0215-1.3448
617.899-0100
filE NO. MM-6474-EAl-CX
-~. . .~.'---t/ ~ April 29, 1987
:. '. V",) pf"'lP
Mr. Francis J. Murphy, Supervisor
Town of Southold
Main Road
Southold, New York 11971
Dear Supervisor Murphy:
J_~~
;':'; kk_ft(/b.~---
/7~
Subject: Fishers Island Municioal Electric Utility
This letter sets forth the results of the engineering study
authorized by the Town of Southold (the Town) regarding the establishment of a
municipal electric utility to serve Fishers Island. This municipal electric
utility would be operated by the Town and would result from the purchase of
the electric distribution system currently owned by the Fishers Island
Electric Corporation (FIEC or Company).
As set forth in the written proposal approved by the Town in
September 1986, certain basic assumptions were made in connection with the
scope of the proposed study. The most important of these assumptions are that
the operation of the electric distribution system will be the same under both
forms of ownership and that the transaction will take place between a willing
buyer and seller without significant litigation. As part of this assumption,
the Company will retain any cash in surplus 'accounts and be responsible for
outstanding debt resulting from its operation to the time of transfer of
ownership. This study focuses upon the engineering-economic feasibility of
the project and the authorized scope of services did not include a field
surveyor a technical analysis of the electric distribution system.
Scope of Services
Upon receipt of a copy of the 1986 Annual Report of the FlEC to the
New York State Public Service Commission (PSC) from the Town on March 27,
1987, R. W. Beck and Associates undertook the following Scope of Services as
set forth in the Professional Services Agreement approved by the Town:
''''all',- '.'.~. o,."1\t'f. ''':0' "",opnl'. .-,z. oJrianco. i'L. Columr'u". \,E. '-)O,tVl \\A' In{JIanapoih. I~' \,ljfmt>J[}(1iIS, ,\\'\J. ~dcramf'nto. c-\. -\u<,tm. rx. 'dsnville,:~. \Vashmgton, D.C
.
.
Mr. Francis J. Murphy
-2-
April 29, 1987
1. Reviewed the reported operations of the Company and made appropriate
modifications to items which would be affected by the proposed change
of ownership including power supply cost, income and other taxes, and
equity return.
2.
Es t ima ted the
hydropower and
Fishers Island.
cost of a power supply program based upon NYPA
the associated cost to wheel and deliver power to
3.
Developed
operation
operating
a comparison of the estimated cost of
with the reported cost of Company
year covered by the PSC Report.
proposed municipal
operation for the
4. Based upon the comparison of the relative costs of municipal and
Company operation, determined the amount that the Town could invest
in establishing a municipal electric utility and not exceed the
overall revenue requirement under continued Company operation in the
operating year covered by the PSC Report. This "break even"
investment amount is based upon repayment of a 20-year bond issue at
a nine percent interest rate.
5. Provided the Town with this letter report detailing our findings.
Review of Reported Companv Operations
In reviewing the Company's operations with regard to identifying
areas of potential savings under proposed municipal operation, it is useful to
refer directly to certain schedules of the Annual Report beginning with the
Income Account included as Attachment 1 to this letter. The items in the
Income Account which are affected by the proposed change to municipal
operation are:
Operation and Maintenance
Operating Taxes
Operating Income
Income Taxes
Certain other items in the income statement will be discussed not because they
change under municipal operation but to indicate that they "wash out" of the
comparison. The following paragraphs will be a line by line discussion of the
Income Account. All amounts are rounded to the nearest dollar for the sake of
clari ty.
The line item for Operating Revenues is in the amount of $712,932.
Referring to the Operating Revenue Account (Attachment 2), we note that
$654,408 is from sales of electricity and the remainder of the income would be
from other sources. In developing the comparison of proposed municipal and
existing Company operations, this additional income will "',..rash out" as not
included in the determination of the average cost of electricity sold to
consumers.
.
.
Mr. Francis J. Murphy
-3-
April 29, 1987
The next line item is Operation and Maintenance in the amount of
$501,245. Referring to the Operation & Maintenance Accounts (Attachment 3),
the accounts include $254,430 for power purchased from Groton, Connecticut,
the Company's wholesale power supplier. In comparing Company and proposed
municipal operations, the rest of the Operation & Maintenance expenses will be
considered separately from purchased power and assumed to be equal to $246,815
in each case. Purchased power costs will be discussed in detail in a later
section of this letter.
The line item for Depreciation will be the same for both Company and
proposed municipal operation.
The line item for Operating Taxes will be changed significantly under
proposed municipal operation. Referring to the schedule for Taxes Charged
During Year (Attachment 4), we find that the $76,388 shown on the Income
Account includes all those items except Federal Income Tax and Deferred
Federal Income Tax. Under proposed municipal operation, Operating Taxes would
be reduced to $43,684 as a result of the elimination of the New York State
Gross Earnings, Sales, and Gross Income Taxes and the Metropolitan Transit Tax
Surcharge. While municipal operation is often described as tax-free, most
municipals make a payment in lieu of taxes (PILOT) to the community which, in
this analysis, is assumed equal to the $34,776 Real Estate Tax item on
Attachment 4. The remaining $8,908 is comprised of FICA, Federal and State
Unemployment, NYS Disability and a truck license. While these may have
different names under municipal operation and may not be called tax items,
they are expenses that will be incurred in one form or another. For
convenience and to keep clear where these items come from, we will carry them
forward to the comparison of Company and proposed municipal operation as
Operating Taxes.
The remainder of the Income Account is not of particular concern for
this analysis. The Company shows a pos i tive Total Utili ty Operating Income
which indicates that it collects sufficient revenues through its rates to
cover its cost of service and achieve a return on its equity investment. The
Total Utility Operating Income is split between Income Taxes and profit
(Balance Transferred to Surplus). In the purest form, the operation of a
municipal utility would cover its cost through its rates with little if any
"profitll and, of course, Income Taxes would not be paid on any surplus income.
Cost of Power
At present, the Company purchases almost all its power from Groton,
Connecticut's municipal electric utility. In its Annual Report (Attachment
5), FIEC indicates purchases of 4,511,439 kWh and generation from the
Company's own diesel generators of 4,000 kWh. The two operating diesel
generators the Company owns are apparently only run in the event of a loss of
the submarine cable from Groton as indicated by the small percentage of the
total energy (0.1%) supplied by its own generation. The level of generation
in the Annual Report would be in keeping with incidental operation during 1986
.
.
Mr. Francis J. Murphy
-6-
April 29, 1987
These costs total $487,225 and are shown in tabular form in Figure 2 at the
end of this letter. Compared with the Company's revenue from sale of
electricity of $654,408, this indicates a difference of $167,183 available to
pay debt service and reduce electric rates under proposed municipal operation.
Break Even Investment
To this point, it has been calculated that the proposed municipal
operation could be approximately $167,200 less expensive to the electric
ratepayer before considering acquisition and startup costs if municipal
operation had been implemented in 1986. This amount would be used to finance
the purchase price of the utility from FIEC and associated startup costs and
to reduce electric costs depending on the purchase price. The Scope of
Services calls for the analysis to assume that electric service was offered on
a break even basis to the ratepayers, that is the amount of bonds that could
be issued with a first year debt service of $167,200 would all go to purchase
the system and cover associated startup costs.
Financing such a purchase in New York State requires the issuance of
General Obligation Bonds (GO Bonds) with declining principal amounts such that
no single principal payment exceeds any other payment by a factor of two. Of
course, as the remaining principal decreases so does the annual interest
payment, creating, in this case, a built in decrease in the cost of electric
service, all other things being equal. Using a term of 20 years, a nine
percent interest rate and assuming the first year's principal payment equal to
twice the last year's; a first year debt service payment of $167,200 would
support a total bond issue of $1,067,250. Assuming minimal startup costs due
to the nature of the transaction, on the order of 10 percent of the issue, it
appears that a purchase price of approximately $960,000 could be supported on
a break even basis.
In their Legal Report, Duncan, Weinberg and Miller suggest that the
cost to purchase the properties would be more appropriately calculated based
upon the Original Cost less Depreciation or Net Book Value method. In its
1986 PSC Report, the Company indicates Original Cost of Plant in Service of
$1,052,127 and Reserves for Depreciation of $532,778 or a Net Book Value of
$518,349. Allowing for $100,000 startup cost, a total bond issue of $618,349
would be required.
The Net Book Cost calculation has been presented because the Legal
Report indicates that a lower price than the break even cost can be
justified. Also, we would anticipate that the ratepayers of the Company would
expect some reduction in the cost of electricity to justify the effort of
undertaking the municipalization of the electric utility. Under the Net Book
Cost, purchase assumptions, a first year debt service payment of $96,874 would
be required, yielding a first year total revenue requirements of $584,099 or
10.74 percent less than the 1986 income from sales of electricity reported by
the Company and the amount used in the Break Even case.
.
.
Mr. Francis J. Murphy
-7-
April 29, 1987
Swrunary
Based upon the analysis conducted in the course of this study, it was
determined that under the assumptions of a negotiated purchase of the Company
by a municipal entity:
1. Certain taxes now paid by the Company could be eliminated under
municipal operation.
2. The cost of NYPA hydropower and associated wheeling and delivery
charges is es tima ted to be lower than the cos t of power paid by the
Company to the wholesale supplier.
3. The level of savings in operating costs we have estimated could allow
the proposed municipal utility provide electric service at the same
cost as the Company in 1986 and allow the municipal system to pay the
annual debt service on a GO Bond issued in the amount of $1,067,250
to cover purchase and startup cost.
4. Under the assumption that the Company's properties would be obtained
at a cost equal to their Net Book Value and that total acquisition
and startup could be financed with a GO Bond issue of $618,349, the
municipal utility could offer ratepayers a savings of approximately
10.74 percent compared to the cost of power purchased from the
Company in 1986.
We are pleased to have been given the opportunity to prepare this
analysis for the Town and would be glad to discuss the information presented
in this letter in the event you have any further questions.
Very truly yours,
R. W. BECK AND ASSOCIATES
GJM/pjl:0880e
Attachments
(/ /1:; /
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. 9rego~y/J./Magarie
, ,iJ i ''''
pupe~~ing!Engineer
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.
.
Figure 1
ESTIMATED COST OF POWER
FISHERS ISLAND MUNICIPAL UTILITY
1986
Char!;e Amount Quantity Cost
NYPA Capacity $l2/kW-yr. 1,528 kW $ 18,336
NYPA Energy $ 0.00206/kWh 4,520,000 kWh 9,311
NYPP Wheeling $ 20/kW-yr. 1,528 kW 30,560
NEPOOL Wheeling $ 18/kW-yr. 1,528 kW 27.504
Groton Delivery $51. 84/kW-yr. 1,528 kW 79,214
Total Cost $164,925
.
.
ESTIMATED REVENUE REQUIREMENTS AND
AMOUNT AVAILABLE FOR DEBT SERVICE
PROPOSED FISHERS ISLAJID MUNICIPAL UTILITY
FIEC Revenue from Sales of Electricity (1986)
Revenue Requirement - Proposed Municipal Utility
O&M Less Purchased Power
Purchased Power, Wheeling and Delivery
Depreciation
P nOT
Operating Taxes
Total
Amount Available for Debt Service
Total Revenue Requirement Under
Break Even Assumotion
Total Revenue Require~ent Under
Net Book Cost Assumotion
$654,408
246,815
164,925
31,801
34,776
8,908
$487,225
$167,183
$654,408
$584,099
Figure 2
No reduction
in cost to
ratepayer
10.74%
reduction in
cost to
ratepayer
.~_..... -,.,
~::::o. [r\~OME ACCOUNT. t
,. Show hentUnder the varioul itaml of the Income
Account for the ye.r.
2. Corpol'3tions operating one decartment only may
rntriet entrin to the calumn appllClble to that claa of operations;
eO",orltionl opel'1lting more thin one dlClartment may show
entri.. in the total column onlv for itlml of Other Income, Income
Line
No.
1
2
3
4
5
8
7
8
9
10
11
12
13
14
15
18
17
18
19
20
21
22
23
24
25
28
27
28
29
30
31
32
33
34
35
1521.
'1523.
1524.
1528.
1530.
1531.
1532.
1534.
1535.
1538.
1538.
1539.
1540.
I tom
1501.
1502.
1503.
1.1
UTILITY OPERATING INCOME:
Operating R.....nu.. (PP. 3()'31)
Operwricn and flotaintlMnca (PP. 34, 36-371
OClrec:iat:ion
Tau' Operating Expenta
Amortlzation of Plent ACQUisition Adiultm.-ms (P. 101
Property La_ Charg.ble to Operations (P. 12)
Opel'llting Tax. (Po 21)
Total Operarinv RwenuI Oeductions
N.r Opreming R_..,u.
Income from Plant L.sed to Others (Po 38)
Operating Income-
Other Utility Operating Income-
ToQl Utllitv.OPlming Income-
OTHER INCOME:
Income from NOrMJtility OPl1'1ltions
Oividend R8Yenun (P. 12)
Interest Rwenu. (P. 401
Mi.scellllneous non-operftina Income
Toal Other Income
Groa Incom,-
INCOME OEDUCTIONS:
Imenn on Lo~term Debt (0.181
Amortization of Debt DilCCunt and Expenses (P. 141
Amortization of Prwnium on Deet-ClWdit (P. 141
Imerest on Debt to Aaociat-=l Compeni_(p. 401
Other I ntlll"ltIt Charges (P. 401
Internt Cherg-=l to ConstrUction-Credit (P. 401
MiscaUanllOUslncome Deductions (P. 40)
Incom. Taxes (P. 21)
Total Income Deduction,
Nit Incom,-
DISPOSITION OF NET INCOME:
Misell1l1neous RellNationl of Nit Income (P. 401
Salane. Transfwrld to SUt1)'us-
. - .
1505.
1508.
1507.
15al.
1509.
.
A 1/71C /-li>! EN;. :1
v
Deductions, lInd Disposition of Net Income, except in the cue of
it4lT1s which can be identified with a partiCular department. 8S, for
example, credits to aCCount 1536.
3. Companies distributing miXed gas only may make
suitable change or insertion in a column heading to indicate that
fact.
Electric
IbJ
Manufactured I
00'
lei
x X)( X
7iOl,'kf'.n
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o
o
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1t93, <f"f/!'.(). 0
xxx x xxxxx
/D::! "'180[; 0
xxx x xxxxx
() 0
o 0
~~3 0
8:f,./]b.7!, n
14'f~,71!1 0
II ~;; 0
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1. Show hereunder the information flQUlllted in I'1ISPICt
to the Surplu. Account.
301. SURPLUS.
Line
No.
41
42
43
44
45
46
47
46
49
50
Account
1.1
1271.
1400.
1401.
1410.
1411.
1412.
1413.
1414.
1271.
Surplus fat beginning of y..r)
Credit Salanea T,..nsflrred from Income Account
Miscellaneous Credits to Surplus (P. 281
Debit Salanca T"nrierred from Income Account
Dividend Appropriation$-Pret,rred Stock {P. 281
Dividend Appropriations-Common Stock {P. 281
Miscellaneous Reservations of Surplus {Po 281
Miscellaneous Cebits to Surelus {Po 281
Surplus (at and of Veld
TOta11
xxxxx
S 0
o
&
o
o
<='
o
D
o
o
o
<0
C)
o
o
o
o
o
xxxxx
~
().
Natur'lJ
go.
Idl
xxxx
$ 0
C;
o
o
'"
o
o
o
<::)
n
I X X ;'x
I 0
xxxx
o
o
o
o
"
(")
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<9
o
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Oth.,. -
(s"ecifyl
1.1
Total
If)
Debits
Ibl
$ -
xxxxxx
XXXXXX
3l.>-76 I
tf,.;b 3L.1..~ I
s '-. -"-)" I
I".,,, ,~<- _ if.
182A.79
t5how for each deoartment the oeriOd ot operations covered by the income account if for other than the calendar V8ilr.
xxx X XXXX
S 0 $ 7t
o So I.:~_'N.SI
o ."?I1'J!)I.nr
o 5.E,o'f,S;fj
o -e
~ 76-3fx..,
o W,O<J:a-rL
~ 1"5,'f9~'~ 0-
X X X X 1/0.i'l'f&
() 0
o IO!J~
xxxx XXXX
c:> '"
o 0
o -?;?~. 03
o D_b9-!?,..,'::
" 14~
I CLt/~
X X X X X X x:: CLC
o ;J.?57"'C7
o '"
o '"
o 0
o ",97
o e
"b 3;;;,J'lo,
o ,x.ol
0- b R aJ/C.1!J1
I xX"ox I xxx~
sO~~&
2. Enter the Closing balance on the smaller side to cring
the total, of Columns fbl and lei into agreement.
:6
Credits
lei
s
~3Z IN'S"7
g3, 3lfc. tJ
S
xxxxxx
XXXXXX
XXXXXX
XXXXXX
XXXXXX
XXXXXX
(;~O,71?SIf
.~~ss In fl!O.
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.
. IfrmeN/tENT z.
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305. OPERATING REVENue ACCOUNTS-ELECTRIC.
1. Show the r.,.,enun from electric oP8l'11tions tor the estimate., that fact should be rotted and the basis of enimau
VNr and quantities of electricity sold during the year. should be shown.
2. If .ny quantities of electriCity .,Id an based on
Average
Lin. Number of kW.h. Total revenues net
No. Item sold revenue.
Cants
I,) Ibl lei Idl
1 1600. Residential Sales i<., fM,;.. 95r9... $ J./-c, ii, .537. 1<>1- $ 17 :;-"-7/
2 1602. Commercial and Industrial Sales 7f?3. /37 I';s' (,,71/, 7(" /~ t?.5b,
3 '603. Public Street and High~ Lighting 49. '1(,0 '1, d'(,s-.s~ 11 Q'f6S
4 1604. Other Sal" to Public Authoriti. 3;/, q;? 5"6,3''f,..7~ 1'1 7'f~~
5 160S. $II.. to Oth.,. Electric Utilities
6 '606. Sales to Railroads and Rail-MVI
7 '607. Interdepartmental Sal..
8 1608. Other ~u
9 Tot" Sal.. of Electric Enervv .3 p,,-.,. 5.37 GS<f *K,,;Jfr.1 I'" ~<-,
10 1610. Aem from Electric OP4tr'ltll"l9 Property $ 9,7/7.7"^ xxxx
" 18'2. Cuttomert' Forl.n-1Id Oix:ounu - xxxx
'2 1613- Sal. of Water and WIltW Pow. - XXXx
13 16'4. Servicing of Cunom..-s' Inn.llations ~g. 80S. 81 xxxx
14 16,S. Miscellaneous El.:tric Revenues xxxx
'5 Total Oth<< Electric Rev,nu.. .::;8 5i<.J,S3 I xxxx
16 Tot.1 Operating Revenues-electric $ 71c;193 1,79 1 xxxx
306. OPERATING REVENUE ACCOUNTS-MANUFACTURED GAS.
,. Show the revenun loom mIInufactum gas th.- fact should be stilted and the buis of Inim.t. shown,
oP41nltions for the yl.. .nd the Quamiti. of 9&1 sold during the J. If respondent distributes mixed !lO' instead of
v..... nraight menufectured gu. the title of tnis scheauie may be
2. If any quantiti.. of gas tOld are bUld on lII'timatltl. /8'(iSad to. indicete that fact. ..
I I Average
Line Item Number of M cu. ft. Total rWlnue net
No. soid revenue-
lei Ibl , lei I Idl
2' 1600. Rnid,nti.t'Saln "/llIr ~III.JCA;!'E' - $ 0 $ (:)
22 '602. Commercial .nd lndurtrial s..les
23 '603. Public Strwt: and Highwev Lighting
24 1604. Other Slles to Public Authorities
25 '60S. Sal.. to Oth. Gu Utiliti..
26 1607. I nterdllCl.mnlmal 5,1..
27 1608. Oth... Sal_
28 Total Sal.. of Gu 0 I 0
29 1810. Rent from G. Opennin; Prooerty xxx X
30 '612. Customan' Forleitld Olcouna xxxx
Jl 1614. Servicing of CUllomers' Installlltiona XXXX
32 1615. Miscellaneous Gas RlYlnu_ i XXXX
J3 Total Other Gas A..,enues , , X X X X
34 Total OPlf'lIting R..,enun-Manufaetured Gas I $ 0 ! XXXX
,
.Per kW.h. to ".rut hundreoth of a cent. I.g.. 5.45 cents; or ;>er M cu. ft. ~o nearest cent. e.g.. S1 .32.
182A.79
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312. OPERATION AND MAINTENANCE ACCOUNTS-ELECTRIC.
1. Show hereunder tha icen15 applk:abl. to each 01 the operation and
O\.iinltiuance accounts 1100 to 1811 lor the year. Oelilgnatiooli in columns (iJl. fe), Ifl,
and (gJ Indicate the accounts applicable to 8&Ch cIa" of utilities.
2. All credle entrlalln Ihls 5Chedule should be made In red Ink.
---. ---- . .. ..
lint! 110m ------9a~- Amouru llem Clan Amount
Nu. lei Ibl lei Cdl 1.1 Ifl 101 (hi
-.. ----- . - --
I 1700_ SupolVision and LBbar D $ " Forward from line 28, c~umn tdJ D $.3 f}l,L II f?:J.eJ3
2 1701. Supervision e 15,"'~".'N 1780. Ma.er Reading, Accounting end Collecting 0 4
3 1702. Opliuation laLor C -MiA&;. 1781. Moter Reading C ~,.p7.;;"
4 1703. MdinlOllance Labor C II{, "5.1./~ 1782. Accounting and Collecting e 3. 9S8. 7
5 1710. Fuel C 0 87.53 I 1783. Uncollucli~. Account' e 0 <{D. ~7
6 1720. WOjler Purchautd for Power C 0 0 1784. Rents e 0 I~.v;'/.fo
7 1730. Mcllllrials. Supptia. and Expense. 0 0 TOlal Customers' Acetg. and Colltg. Exps. t9.3. /;. '.08
8 1731. Dperdtian Supplie1 And Experuas C 110./5 1786. Sal., EXpeOMS C 0 0
9 1'132. M..iinl. Miuella", Supplies and Expenses C '6.<11 1789. M",chandblng, Jobbing, and Contrect Work e 0 .r1, o,;t" 'II
10 1735. Refl,U C 0 0 Total Sal., Promolion expenlO. ~T. 0"'<1-1
II 173d. Stllam Purchased C 0 0 1790. Salaries of Generat Officers e 0 01,;1, B1~,o.f
12 lJ:l8. Eleclricity Purchased e 0 OlS1{.,'P'U.s 1791. Olher Genllr.1 DUlce S.I.rl., C 0 I$, "lJ.~O
13 --f,;'JJ Other Production Expensas ....1fl!A.,. C 0 I.tw$.~j 1793. Gener.' OUlco Expense, C 0 ~.~.'f-7
14 114:l. SledlH Produced-Credit e 0 0 1795. Special Servke, PR"Fe:~S'&N FEE-Or-I!c-R 0 31fi.~
-
15 T alai P'Oducllon Expalnses .;(873'5'."'1 1795.1 MaouQoUloOl and Supervision e ..
16 1 JfiO. .::iupllrvilion and Labor 0 0 1795.2 Lagal 50......lco. C ~
~ 17 liB I. Supervision e IS; <lc5..33 1785.3 Olh.r Special SelVle.. . f) ('('I>(JIf,I 'TIll C; e 1 ". O..n, 00
.d 1162. DPtlHillon Labor e I. 901. fr~ 1797. Regulalory Cornmlnlon Expense, e 0 p..&xf.~.5
19 1/63. latun un CUllorne,,' Promlstl. C 8.;11.,,;1. 1798. Insuranc., Injuria, and 08fTlagll e 0 17, 'Ns atb
20 lW4. MdiuIllOanc8 L...lJor C 10. 6-01.7<> 1600. Olh.r General Expenses C 0 3a,785.S.
21 1765. lp':P:r,pn s.!~.!t~~~9-,-nd p"em C .iI.'? 9,F.oG 1602. Oper.lion and Malnl. of G.mer.' Property C 0 fl
22 ~ M41&. ...1., ~TI'Io... ...~ ,~&. D I, "177.'1-1 1803. Genera! R.nls e 0 0
23 17)1. Optllalion Supplies and EXj.)OOIie' C 1.(J8.J. (J'f 1805. Fnochlse Requirements e 0 Q)
24 1"112. Maint. Materials, Suppl101 and Expense. C 3.'1.:;0. 'f 1 1806. Duplk:i1le Chwge.-Credit C 0 0
25 In). SI. Lly. and Sig. SV" Mils., Sup. and Exp. . C 1,'/5'(..3(. 1807. Admlnlurallve rlOd Gen. f:xp.. Tr.nL-Cr. e 0 <:>
'lk: ~ I?Pll</fTII'/G.t./IkR-7R$:l c/H.. ~C 0 t,,9r.!l.5o 1808. Jolnl Expemo.-Oobil e 0 '"
26 1 ^.
21 Total TUlIs. and Dlslo Expllnso' ..!tZ /6>7"fil 1809. Joint EXPIIOlos-Credh e 0 0
2d ForwaHJ 10 line I, column (ht ~1'83.QJ 1810. Slores, Shop and Laboralory Expense. e 0 El
29 1811. TranipOnallon Expanse. e 0 'I.7~7.'f.6
"0 TOldl Admlnlslfillive!lnd Genaral EkpenH. ....li!t"kl'LE.E...
" I T olul Opelallon Mild Malnlenance $301'''#.57
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225. TAXES CttARGED DUlliNG YEAR.
\. Shaw the ,l':counl alsl.lbullon of 10'.1 '.KO$ ch.ll,yod to op.r.llo"s .nd ollie. '.1.KIl' chug.a to utllllY pl"nt. show onlv th. numbe, 01 lIlIi. .pp,oprl,ilo bol,,,,ncll sheel
IIn.l "ccounU (Ju,ln~ lIl11l v..r. II nacon.,v. us. .. Slip.,.,. lubdl\lhlon of Ihe "heaul_ IOf pill'" .u:;count.
...", opo,.llny (JClp.arlmonl. .. Ch.ll,yO$ 10 account 15]9, Income T.xCls. should be .Uoulod to each
2. 00 001 InchuJo 9uolll\. .ruJ othO, UIDS ,.xo' which h...,. boon chug_a to iIoPPI!C.lbICl ullmv dop"tmont .od to oon-utltllV Incomo, .nd tho buh of .lIoc.llUon should
.,,;uulIh to whle.. W.ll:io ch.,yocl UIO m.IDd,d 011 which the lilX w., le"lod. It Ih. .clLl.. o. be "lOwn undor pUillIf.ph 8 below. In respect to dl.f911S to Such ",ccDunt. on tries In this
C1ullll.ICtJ .moun'. of ~lJch '."'0. ilIro knuwn, "1.11 .Ilouh.l 1I0 .Ilown ill' ~ loolnuto ilIlld $cllu\.lulo $houlLl W Ihown .op~r~toly tor .ilIch kind 01 I~" which Iho .ccoun' h IntondeLl to
oo~l!>>n.lol.l whotllor ollllnalo\.l 0' .ctal,.! amounU. covo'.
,. E.ch kilH.l of lilI. Ihuuld 1I0 Ihlad ,opua,ol)', "":llllo noml Ihould bo grouped 6. Tha 101.1 a...al cha,god U Ihown In column (1I) IlIould .g,aa with Iha "mounU
10 ., 10 t.IlQW whoUlor tlli. 14.al .,a toaanl. lI.iIlo. 0' loul. ,hown bY column ta) 01 IChadulo 224. Accru.d .od P,.p.ld T ....,.
e. Tho "ccounl' 10 which 1""0' c".,god wo,. dlUrlbul.d ,hould be ,hown In 7. Itom, m.lI bo 'hown to tho n...ot.1 doll., only.
culumm (clio (k). Show both tho utility dep~'lm'nl and numbo, 01 .ccounl ch.,g.d. Fa,
n~
OIt.lrlbuUon 01 I.".. ch~'90d
TOI.tlla.ot. (Show ulllUII dop.t,lmonl who,. .ppllc.blo .nd ~ccounl chjlfg'd)
LillO t<lnd 01 l.tlll ch.ug.d
No. during II..' Accounl Aq.ounl Acco~nt ?CCO~I AS';un~ 5 ACCO:z")P A~'t Ac~unt 9 ~/'!P~-.s
ISt:l7~' 1:l0.1-#- 1059. ~3 ~.::'f 1 P.?- IS:Q .-. (. .-7 I i?7.-
f.) (01 (<I (dl ('1 ('1 (01 (hi (II III ,"I
. FICA $ 7.g...(.~! $7,NI.81 $ $ $ $ $ $ $ $
2 FEP ilNEI>1ti;I(~IEA/T 0'7.5:6, .. l$..,
, N,!S. 6h INCQ,t/E :II,3S1C() cill.:J57.Do
. tV ty,s, 6'Ra5.S EARNIJlltS".s S33.t>c ~.33r"'o
. NqS. UNf;'71~/l1EAlr .'f"l-7.f8 '1"'17.98 5"0.10
6 Nf.~' D,S IlI3ILIT'I 50./0
7 R -'It. ES7;;Te. 3<1, 77~54 ..!l4. n5:,l?t.
. Tl<.tiCt< I-lcEyS.E t!) 7J 0'9;1.1.5
. 'L"I.5 .sALe-,- I,f~f.,'j& /'/5"';. '10
10
11 11:07-1(-
.2 IfW7RO TRI,NS TIi" .s<l,ectlA~ -
13 ;; 'f8S10(. 'f;iSI,o&
.. Ft'/)t:RttL I'VCI.>n7 e r-'tlo( 01. Ii,' ." S.. IS.J'L
.. wJ',o~oo
.. FEDERtlL 11I{'ot1jE ili-<--PfI 'I!Rf:t) 'f. ;$.Q /l)39tJ
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l2 fulolh yo a '19. 1 $.7 1i'4t8 $. ;1 7S/-2 __ $<2fJrz Ot $ ,f~'t39.'" $ i!fz.fl'i $ s;,,1O $3'f.VJ:" $ :l'i~ 'Jf.E1t'lc
--
.. For .11)'1.1( which I~ w..~ 1IllCfuur.,. to .ppo,Uon 10 mo,o th.n on. utility aep.tltlllent or .ecounl. ,hi. he,eunde, Ih. b.'h 01 iPpo,lIonlog lucl' I.W:.
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506. SUMMARY OF PRODUCTION AND SALES ELECTRIC.
Show the reQuested summery of electricity produced, and f8C8ived from others; the quantity sold or otherwise disPosed of during the
Yllr: Ind the connected load It the end at the v.r.
"
"--', Number of Number of Lin.
Itom kiJowect.hours Item kilowan-hours No.
(al Ibl (el Idl
Generated by hYdraulic pawt," () Sold to auociated com~ni" 0 1
Generated bv Iteam powe," 0 Other sal.. a,799:""77 2
Generated by other motive power" 'f; l!~() Transferred to 8SCCiated companies C '3
Purchased from auoc:iaud companies 0 Supplied without dirKt charge 1(.9, "'''a 4
Purchued from oth.r than auoc:iated coml'8nies 'I-~II,'Ia'l Transferred to other departments 0(, ~S-O 5
Transferred from associated campani_ a Used by rllPondent-Eleetric department-. 1'0,73" 6
'nterenenge power received 0 ,7
Inten:nlng. pow" sent Ol..!t- !') a
9
Toal supplied and used ~ f~()..,,;.I,, 10
loR end unaccountld for {"5'''!l 5',"1: 11
TotallV.iI.bl. for distribution 'f.S'5.1f.3 'I! Total '/-.5'/ !;;<f..J' 12
Connect~ lo.d It end of v.lt-kllowlttS 13
607. MAXIMUM DEMAND.
1. Show thl rM:Iumld infonn.tlon conceminv monthly
maximum coincident dem.nd upon company's outgoinv linn
Including demand supplied bv PUrchased power, but axeludlng
secondary or dump POwer .1.. to other utility compani... Show in
column (hJ the amount 01 flnn power sold to other electric utiliti..
for distribution Ind to ,..ilroad. and J'tntet railrOld. for the
propulsion of can or locomotiv.. and Included in I'ISPOndent's
maximum d..-..nd of the v.r. Show in column {gJ the lITlount of
pow.,. purchased from OttUtn included in the demand.
2. It respond.nt's territory is not inun:onnlCted. the
maximum d.-n.nd should b, turnish~ seolrlt.ly for each
Insol.ted district.
O."lnd "'PPli~ by Sold to other
Maximum 10Id utilitiu during
Month Oat. Period Mlnutll on outgoinv Com!)8ny Purchuod period of Lin,
endld duration lin.. facilities. power, m.ximum demand, No.
kw. kw. kw. kw.
\....-- (.1 leI (dl (.1 If) (gl Ihl
January IS- S3 S'~+ 21
February ,S- S- ,,-'I- 4.8'0 22
March IS" .:7 OUJ $~g. 23
April 1;;'- S~8- 6"'0 24
Moy IS 7S-b qt- If. 25
Jun. IS t f)"~ !O&.; 26
July 15 I':" (;) +- I~C 27
Augult I~ I~Qr '~.~ 2a
SlOtlmber IS- I~O +- 101'(,:, 29
October I eDa ,~ 30
Novemb.r I~ 75'? ~O ~ 31
~
Docomber 'ST 41(P S, 32
.....
3. Stitt power factor at tlm. of mlDCirnum demand during vear and how dlltermined
INi)IC....TlA/& OVsti?tJhlEAl7
/ro
L..A-G-
~
.enter In red Ink Ind deduct from tOt".
..excIUdlng current ustld In station auxllt.ri... Step-up tranformen are not to b. considered stltlon auxiliaries.
63
I a2A. 79