HomeMy WebLinkAboutFI Municipal Electric Utility R.W. BECK AND ASSOCIATES
ENGINEERS AND CONSULTANTS -!� —
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PLANNING RVO UNIVERSITY OFFICE PARR 20
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RESIGN 51 SAWYER ROAD :SEATTLE.WASHINGTON!' r'� ,.
RATES .78�2M1oire:2%-441-75M
ENVIRONMENTAL WALTHAM,MASSACHUSETTS 02131-3118 Tele..:990102 RECRSEA
ECONOMICS Waltham.MA TPIKopie<'.
MANAGEMENT 617-899-MM 617 899-5460
FILE NO. MM-6474—EAl—CX T / April 29, 1987
_ tf� V tom• J J P��
Mr. Francis J. Murphy, Supervisor
Town of Southold
Main Road
Southold, New York 11971 -;'g
Dear Supervisor Murphy: r
Subject: Fishers Island Municipal 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 (FISC 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
survey or a technical analysis of the electric distribution system.
Scope of Services
Upon receipt of a copy of the 1986 Annual Report of the FISC to the
New York State Public Service Commission (PSC) from the Town on :larch 27,
1987, R. W. Beck and Associates undertook the following Scoce of Services as
set forth in the Professional Services Agreement approved by the Town:
.'.utl•• \•,)ender.W•7hnrn:e \L•Jnanoo.FL•Colom^us \E•3nston.MA•InOMnapma. ♦nnnnenoer SIN•mcamento.CA•-.--:n TX•Nasn.ulr.-,N•
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. Estimated the cost of a power supply program based upon NYPA
hydropower and the associated cost to wheel and deliver power to
Fishers Island.
3. Developed a comparison of the estimated cost of proposed municipal
operation with the reported cost of Company operation for the
operating year covered by the PSC Report.
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 Company 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
clarity.
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 "wash 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 tailed tax items,
they are expenses that will be incurred in one form or ano! her. 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 positive Total Utility 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
"profit" and, of course, Income Taxes would not be paid on any surplps income.
Cost of Power
At present, the Company purchases almost all its power from Groton,
Connecticut's munici?al 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 -4- April 29, 1987
for maintenance and testing of the generators. The Company reports a peak
demand of "1,200+" kW without reporting an exact figure. A check of the
contract demand reported by Groton to the Connecticut Department of Public
Utility Control (DPUC) indicates a contract demand of 1,528 kW. For the
purposes of this analysis, the cost of power supply under municipal operation
will be based upon 1,528 kW demand and 4,520,000 kWh energy requirement.
The two components which will make up the cost of power to the
proposed municipal utility are the cost to purchase the power from the New
York Power Authority (NYPA) and the cost to transmit the power from NYPA's
generating stations to Fishers Island. At the present time, NYPA is supplying
both hydroelectric power from its Niagara and FDR-St. Lawrence plants and
nuclear power from its James A. Fitzpatrick plant to publicly-owned electric
systems in .New York. Although it has been assumed that the proposed municipal
utility could obtain an allocation of hydroelectric power equal to its full
requirements, such an allocation would result from a formal application and
contract negotiations with NYPA. We would suggest that the Town initiate
discussions with NYPA regarding the type, amount and cost of power it could
expect to receive as one of the earliest steps if it should decide to proceed
with a program of establishing the proposed municipal utility. In this
analysis, it is assumed that the proposed municipal utility will obtain an
allocation of NYPA hydroelectric generation capacity equal to its contract
demand of 1,528 kW and purchase energy equal to its 1986 requirement of
approximately 4,520,000 kWh. Current costs of NYPA hydropower sold to public
power entities in New York and New England (including Groton, Connecticut) are
$12/kW-year for capacity and 0.206¢/kWh energy.
The power must be wheeled across New York State and New England at
transmission level voltage (69,000 V and higher) and delivered across the City
of Groton's electric system to Fishers Island at distribution level voltage
(8,320 V at delivery point). For the purposes of this analysis, it has been
assumed that the wheeling rates presently applicable to the NYPA hydropower
wheeled to public power systems in Connecticut, including Groton, would be
applicable. At present, there are no formal wheeling contracts in place to
cover wheeling to a New York municipal utility across the State of
Connecticut. However, the costs reflected in the wheeling rates paid by
Connecticut municipals receiving NYPA power should provide a reasonable
estimate of the wheeling rates which would result from negotiations by NYPA
with the Connecticut utilities. Again, we suggest that wheeling rates be a
subject of discussion between the Town and NYPA early in any program of
acquisition. These rates are based upon demand, with no energy related
charges, and at present, $20/kW-year to the New York Power Pool (NYPP)
wheeling utilities and $18/kW-year for the New England Power Pool (NEPOOL)
wheeling agent, Connecticut Light and Power (CL&P).
Mr. Francis S. Murphy -5- April 29, 1987
At the present time, Groton has no filed rate for delivery power
across its system as the Company pays an all inclusive rate for wholesale
power. In order to make a conservative estimate of a low voltage delivery
rate, we reviewed data from Groton's latest DPUC Report and noted that the
difference between the average cost (4.984/kWh) that Groton pays for power
from its all requirements wholesale supplier the Connecticut Municipal
Electric Energy Cooperative (CMEEC) and the average cost at which it sells
power to the Company (6.874 kWh). The difference (1.894/kWh) applied to all
energy reportedly sold by Groton for that year to the Company (4,191,211 kWh)
results in a cost to the Company of $79,214 for non-purchased power related
items. Allocating this amount over the 1,528 kW demand to put the charge in a
demand related format typical of wheeling charges, results in a $51.84/kW-year
delivery charge. This cost should represent a conservative estimate because
Groton's average purchased power cost reflects the benefit of NYPA hydropower
purchased through CMEEC averaged in the higher cost power CMEEC obtains
through a mix of unit contracts from CUP which might not be fully passed on
to FIEC in its wholesale rate. Further, there are costs associated with a
wholesale power contract which might not be included in a delivery charge.
Based upon the cost component developed in the preceding paragraphs,
the estimated cost of purchased power to the proposed municipal utility for
1986 would have been $164,925 as compared with $254,439 paid to Groton by the
Company. For the sake of clarity, these costs are broken down on Figure 1
included at the end of this letter.
Comparison of Costs
In developing a comparison of costs between the Company's reported
operations in 1986 and proposed municipal operation, it is important to
clearly identify the comparables. For the Company, the item of concern is the
revenue from sales of electricity to its customers. This amount, reported on
Attachment 2 as $654,408, is indicative of the costs which the ratepayers bear
and what a municipal electric utility operation would be measured against.
The proposed municipal utility does not yet have a schedule of rates.
Therefore, an estimated revenue requirement must be computed from the costs
previously developed. This revenue requirement will reflect the costs of
purchasing and delivering the electric energy to the ratepayers on the same
operating basis as the Company for the report year, making only those changes
appropriate regarding taxes and power supply. No assumptions are made in this
analysis regarding items such as changes in depreciation rates which may be
justifiably set by the Company to take maximum advantage of tax laws but which
could possibly be lower under municipal operation to cover only needed
renewals and replacements on the system.
The revenue requirements for municipal operation consists of four
parts: Operation and Maintenance Expenses (0&M), Depreciation, Payment In
Lieu of Taxes (PILOT) and Operating Taxes. For purposes of clarity 0&M is
split into 0&M Less Purchased Power and Purchased Power as discussed in the
sections of this letter: Review of Reported Company Operations and Cost of
Power.
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
Summary
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 estimated to be lower than the cost 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 31,067,250
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 $615,349, the
municipal utility could offer ratepayers a savings of approximately
10.74 percent compared to the cost of power purchased ?rom 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
Gregory/J./Magarie
GJM/pj1:0880e
Au
pei6i./ ing\Engineer
Attachments
Figure 1
ESTIMATED COST OF POWER
FISHERS ISLAND MUNICIPAL UTILITY
1986
Charge Amount Quantity Cost
NYPA Capacity $12/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
Figure 2
ESTIMATED REVENUE REQUIREMENTS AND
AMOUNT AVAILABLE FOR DEBT SERVICE
PROPOSED FISHERS ISLAND MUNICIPAL UTILITY
FIEC Revenue from Sales of Electricity (1986) $654,408
Revenue Requirement — Proposed Municipal Utility
0&M Less Purchased Power 246,815
Purchased Power, Wheeling and Delivery 164,925
Depreciation 31,801
PILOT 34,776
Operating Taxes 8,908
Total $487,225
Amount Available for Debt Service $167,183
Total Revenue Requirement Under
Break Even Assumption $654,408 No reduction
in cost to
ratepayer
Total Revenue Reauirement Under
Net Book Cost Assumption $584,099 10.74%
reduction in
cost to
ratepayer
ATTICA11116111 1
3C0. IN'OME ACCOUNT.t
1. Show hereunder the various items of the Income Deductions, and Disposition of Net Income• except in the case of
Account for the year, items which can be identified with a particular department, as, for
2. Corporations operating one department only may exempla,credits to amount 1536.
restrict entries to the mlumn applicable to that class of operations; 3. Companies distributing mixed gas only may make
Corporations operating more than one department may show suitable change or insertion in a column heading to indicate that
entries in the total column only for items of Other Income, Income fact
Line Item Electric Manufactured Naturnl Other Total
No. gas gas (specify)
Ial (b) Ic) Id) (e) (f)
1 UTILITY OPERATING INCOME: XXx1iX XXXXX XXXX XXXX XXXX
2 1501. Operating Revenues IPP.34311 S/ 79 S
3 1502. Operation and Maintenance(pp.34,36-37) 1_0/ y , O p O Sa/, y�/,5'7
4 1503. Depreciation / -jo O O O /gbfr.
5 Tool Operating Expems ru p!tfg7 0 O O $.33,oyS•f
6 1505. Amortization of Plant Acquisition Adjustments(p. 10) O O O O
7 1506. Property Lows Chargeable to Operations(P. 12) O O O O O
8 1507. Operating Tarr(p.21) 76 3SG, o O O 76
9 - Total Operating Revenue Deductions lsd9 D O O u 7
10 Net Operating Revenues
140-4, OO
11 1508. Income from Plant Leased m Others(p.38)
12 _ Operating Inome• / 3 I O XXXX //O0ArKX13 1509. Other Utility Operating Income• X X X X X X
14 Total Utility Operating Income, O a( B ( 9OBe:
O O K
15 OTHER INCOME: XXXX XXXXX XXXX XXXX XXXX
16 1521. Income from Non-utility Operations O O O p O
17 1523. Dividend Revenues(p. 12) O O O O
18 1524. Imenast Revenues(p.401 S.�'tf0-03. O
19 1528. Micaltanpus non-operating income .7e
20 Tool Other Income / d0.72 D O O /
21 Gros Income- 117 W 0 /g- ^
22 INCOME DEDUCTIONS: XXXX XXXXX XXXX XXXX XXXX
23 1530. (mere t on Long-term Debt(p. 18) aa`_'s-7 O O O aJ57
24 1531. Amortization of Debt Discount and Expenses(p. 141 O O O O O
25 1532. Amortization of Premium on Dom-Credit(p:14) O O O O
28 1534. Interest on Debt to Associated Companies(P.40) O O O O O
27 1535. Other Imsest Charges IP.401 Q O O /,97
28 1536. (merest Charged to Construction-Credit(a.40) D O O B
29 1538. Miscellaneous Income Deductions(p.40) O O O
30 1539. Income Taxes(p.21) O
31 Toni l mome Deductions ,�.rL, p
32 Not Income- s/ 0/ O O d h/8, /
33 DISPOSITION OF NET INCOME: XXXX XXXXX XXXX XXXXXXXX
34 1540. Miscstian,ous Reservations of Nat Income(p,40) D O O . I a
35 Balance Transferred to Surplus-
• 301.SURPLUS.
1. Show hereunder the information requested in respect 2. Enter the closing balance on the smaller side to bring
to the Surplus Amount the tools of Columns(b) and(c) into agreamem.
Linel Amount Debits Credits
No. (a) (b) (c)
41 1271. Surplus(at beginning of ysr) S S .d.37, 3C s/! !S`
42 1400. Credit Balams Transferred from Income Account X X X X X X &3, ,3y m
43 1401. Micellaneous Credits to Surplus(p.28) X X X X X x �-
44 1410. Debit Balance Transferred from Income Account - X X X X X X
45 1411. Dividend Appropriations-Preferred Stock to.281 X X X X X X
46 1412. Dividend APPropriations-Common Stock to.28) X X X X X X
47 1413. Miscellaneous Reservations of Surplus(p.28) X X X X X X
48 1414, Miscellaneous Debits to Surplus Ip.28) 3aLS:76 XXXXX X
49 1271. Surplus(at end of year) loaf XXXXX X
50 Totals Sn70 7rta SPI S !O.'•O,%7a7.,S
tShow for each department the period of operations covered by the income account if for other than the calendar year. *Loss m red.
182A-79 26
0 A7701-1161NT' Z v'
305.OPERATING REVENUE ACCOUNTS-ELECTRIC.
1. Show the revenue, from electric opera[ions for the estimates, that fact should be stated and the basis of estimate
year and quantities of electricity sold during the year. Mould be shown.
2. If any quantities of siwviclty sold are baud on
Average
Lim Number of kw.h. Total revenues net
No. Item sold revenue-
(al(b)
Ibl Ic) (d)
1 1600. Residential Sales , 45a- S 46.21 %O-Z-4 $ f 7 67/
2 1602. Commercial and Industrial Sales X83, /37 694 76
3 1603. Public Street and Highway Lighting ,s.F9 N6Op
4 1604. Other Salm to Public Authorities JO ,j(ps,?rrf,
5 1605 Salm m Other Electric Utilities
6 7606. Sala to Railroads and Railways
7 1607, Interdepartmental Seim
8 1606. Other Salm
9 Total Sala of Electric Energy
10 1610. Rant from Electric Operating Property S 9r '7/7,7a XXX X
11 1612. Curtomars'Forfeited Discounts X X X X
12 1613. Sala of Witter and Warr Powe - X X X X
13 1614. Servicing of Customers' Installation, x x x x
14 1615. Miscellaneous Electric Revenues XXX X
15 Total Other Electric Rwrenua ,>� 3 ..53 X X X X
76 Toul Operating Rwasnuas-Electric
S Tia•931,79 I x x x x
306.OPERATING REVENUE ACCOUNTS-MANUFACTURED GAS.
1. Show the minimum from manufactured gar that fact should be stated and the basis of estimate shown.
operations for the veer and the quantities of go sold during the 3. If resoondent distributes mixed gas instead of
Year' straight manufactured gm, the title of this schedule may be
2. If any quantities of gas sold are baud on estimates, revised to indicate that fact, ,.
LineI Item umber revenue
Aerage
Nof M cu,ft Total nor
No. sold revenue•
1s1 lb) Ie) V(d)
21 1600. Residemial-SalmnrNar 7-,A11ZtC.4,j,Z' - S
$
22 1602. Commercial and Industrial Sala
23 1603. Public Street and Highway Lighting
24 1604. Other Sales to Public Authorities
25 1605. Sales to Other GoUtilities
26 1607. IntertmemeltlsparSalm
27 1608. Other Sala
28 Total Salm of Ga p
29 1610. Rent from Ga Operating Property XXX X
30 1612. Customers,Forfeited Diaccum, XXX X
31 1614. Servicing of Customers' Installations X X X X
32 1615. Miscellaneous Gas Revenues XXX X
33 I Total Other Gm Reversues - X X X X
34 Total Downing Ravenum-Marwfacnued Gas 5 p X X X X
n
*Per kw.h,to manast hundredth of a cent,e.g.,5.45 cents:or par M cu.ft. to nearest=ant,e.g.,$1.32.
182A-79 30
iu
y 312.OPLHA l ION AND MAINTENANCE ACCOUNTS-ELECTRIC.
ra
1. Show hereunder the items applicable to each of ilia operation and and(o) indicate ilia accounts applicable to each clan of utilities.
mdiotenencn ,ccuumb 1100 to 1811 lot ilia year. Daslonelions in columns (b), (c), 11), 2. All credit ambles In this schedule simuld be made In red ink.
L ilia Item Class Amount Ilam ---- Class Amount
Nu. la) Ibl Icl (dl lel (11 (9) Ihl
1 1700- Supervision and Labor p $ O Forward from lire 28,column Id) D
T 1701. Supervision C /,$ 1780. Maur Reading,Accounting and Collecting O G
3 1702. Operation Labor C -A501&R 1781. Maur Reading C
4 1103. Maiolurwnce Labor C /1/3 03,2.1k 1782. Accounting and Collecting C 3 gs8.7*
5 1110. Fuel C D 875 J 1783. Uncollectible Accounts C D YO..-L
6 1720. Water Purchased for Power C D O 1784. Rents C D /a7.&914
7 1130. Malenials.Supplies and Expenses D O Total Customers Acctg.and Collig.Exps. n .Ia /.O$
8 1731. Operation Supplies and Expenses C //p,15 1786. Sales Expenses C D O
9 1132. MAnt.Mule,tats,Supplies and Expanses C ;.cls 1789. Merchandising,Jobbing,and Contract Work C 0 07 b
10 1735. Henn C D p Total Sales Promotion Expenses ..770 r�•�
11 1730. Stearn Purchased C D O 1790. Salaries of General Officers C D
12 1/n/87 Elccuicily Purchased C D a?S#,4�. 1791. Other General office Salaries C 0
13 --9/ Other Production Expanses -NEAT C D 1793. General Office Expenses C D leg,r , 147
14 1741. Steam Produced-Credit C D 1795. Special Services pRoPcSS re•✓r'EG`-pT#Zloe D 3/p,8o2
15 Total Production Expenses ✓78'J,a/JF bR 1795.1 Manugemem and Supervision C O
16 1700. Supurvidon and Labor D O 1795.2 Legal Services C 10
17 1761. Supervision C 1S Noy�U 1795.3 Other Special Services , ACC0dA/7'/116 C /07,0�,00
18 1162. Opmat ion Labor C 1,90/.,96 1797. Regulatory Commission Expanses C D bt,POyt.,,i
19 1163. Labor un Cuslonseay Prendus C 3,21'
lQ 1708• Insurance,Injuries and Damages C D /7
20 1764. Maintenance Labor C /0' k0,/.7p 1800. Other General Expenses C D
21 1}7765. L bon�n St.4i Irq Mal na ystem C g 9pj 1802. Operation and Metal.of General Property C D O
22 i+i�--M�ea.i.la'ass6CA�5f' S ' D1"177,41
1803. General Renu C D o
23 1711, Operation Supplies and Expanses C /,091, 09 1805. Franchise Requirements C O co
24 1712. Maint.Materials,Supplies and Expenses C 3,r/,�0,q/ 1906. Duplicate Charges-Credit C D a
25 17�7�'�. ?iSL Ltg.and Sig.Sys.Mils.,Sup.and Exp. 'C 1,V57.,36 1807. Administrative and Gan.Exps.Trans.-Cr. C 0 O
26 Sifii i?unse C'P1'RA 7_111764/1QpR 7112t[ C& A,45C D (0,99�.,so 1808. Joint Expenses-Debit C D o
21 Total Trans.and Dist.Expansesq�'.q/s6Q7Rg3 f, 1809. Joint Expenses-Credit C O O
28 Forward to line 1,column Ihl ` O
1810. Stores.Shop and Laboratory Expanses C 0
29 1811. Transportation Expenses C D 7.737,q,4
30 Total Administrative and General Expenses
31 Total Operation and Maintenance SSj/ra -S7
a_ -
225.TAXES CliARGED DURING YEAR. - -
S 1, show the account alslrlbullon of total bxes crarged to operations and other taxes charged to utility plant, snow only the number of the appropriate balance fiscal
hila1 accounts during Inn Year. 11 necessary, use a separate Subdivision of the schedule lot plant account.
5. Charges to account 1539, Income Taxes, should ISIS allocated to each
each upstaging deparbnenl.
2. flu not Include gasoline and olhar sales taxes wllch nave been charged to applicable utility department and to non-utility Income,and the basis of Allocation soar
a.wools lar .1,10, war alw yeti lbs uuledal on which IM tax was levied. It Ills ,dual of be ,howo tinder paragraph a below. In fespeo le charges to such account,anlrlas In till$
ealuumJ ♦nmunb of .",at lane, are known, They ahuuld be sbuwn as a footnote arW 1111.14111. should be shown separelelY fur each wallof lea whlcb all.accuunl Is IulenueJ lar
Uu>IyutleJ wbulhnr eSlgUU lad Of actual emoun U. carver.
3. Each kind Of lax aboulU be listed separately,and lila Items should be grouped 6. TM total taxes charged as sluown In column IS)Mould agrae will,the amounts
sea as to show whether the taxes are federal,Stale,of local. shown by column(it)of schedule 224,Accrued and Prepald Taxes.
4. The account, to which taxes charged wale dlstrlbuted Mould be shown In 7. Items may be Mown to the nearest dollar only.
c lOnins Ick to (kl. Show both like utility depaflmant and number of account charged.For
- --- PIs1AUullun of taxes charged
-- Total taxes (Sbuw utility department where applicable and account clu19041)
l tare Kind of lax clungad
tau_ during Year Account AcL Dual Acco t cco 1 Acc unI Acco n Ac o t Ac unt Ac
ISa7-t y7LiTae� t50-3 ?:p.�5� tX0.7 7597:rP !.` 'fv 7 L,?P7.-9
UI lISl
_cc)_ Ill (a) 111 Igl IM 111 111 Ikl
— I FICA 4
2 al 7.BL s s s s
FcD 664,ty ( s s s s
o7S.G talk 7S47 A n
3 N'S, fi✓:+5i /n/CoAt� e?/,.�%7o _21, 57• o
4 N;S. 6QaS £ARA11A/6'.S S33 n 533Joo ,4798
5 Iyy,s. (/.✓ri11f1loyA9ENT 7,fS So.7o
6 N.�{S. DIS/Idltyry so.t i
QEA� E,$TATE .�s� 77,5 ,ry�775,.HG
9J ,gees
ts 7RtiCK ICE-vS'� J 7 ✓.IS6.90
10
ISo7_Ib
ll r-
12 F BSI.a
13 1fj57,Q0 Tkh N5 TAX 6vxi"MfAe -
14 rC-DeQ7tL /ryCOM f_ TqK pi J.,adf.0, o7p,O .00
15
16 fEDfr2hL. 1N•l0n1E 7,7v -De :;eQF,D`fa'ir6• •L
11
Its
19
21
21
22 �v
23 ( i
24 ,p
25
26 t
2l
2e
2y
30
31s
m 32 s aliFY,9fr Sa
• lo s3afr,�' = r• 7 .�
N rbl.l, _ 1p86 •I f F�td + �75�`4 __=�.�52 a =� 4.
?. 9. For any tax which Is was necessary to apportion to more than one utility department or account,Slate hereunder Inc hall$of apportioning suds tax.
m
506.SUMMARY OF PRODUCTION AND SALES-ELECTRIC. .
i
Show the Muatad summary of electricity produced. and received from others; the quantity told or otherwise disposed of during the
Year;and the connected load at the end of the year.
i
Number of i
Item kilowatt-hours Item kilo of Linea
No.
lel (b) (Cl (d)
Generated by hydraulic
power--0 Sold to associated Companies p 1
Generated by steam power-- O Other alae A-799'077 2
Generated by other mctiva power•• . y�00p Transferred to associated companin O 3
Purchased from associated companies 0 Supplied without direct charge - if9t 44 O 4
Purchased from other than associated Compania 4,T//,q39 Transferred to other departments a, /o$'O 5
Transferred from a=Ciated Companies O Used by respondent-Electric department-- /0,7,37 6
Inarehange power received O
Interchange power felt Cut• 7
a a
9
Total supplied and used 1424-01f--;Z-1 10
Lost and uneeeourltad for S-�513; 11
Total available for distribution .1[_S/g,+�� 9 Totalfir/ ' 12
Connected load at end of yeer-kilowatt' 13
507.MAXIMUM DEMAND. -
1. Show the requested iMonnation concerning monthly Ompulel in of are or locomotives and included in respondent's
maximum coincident demand upon company's outgoing lines maximum demand of the Year.Show in Column (g) the amount of
Including demand supplied by purchased power, but excluding POwer purchased from Others included in the demand.
secondary or dump power aim to other utility compenia.Show in 2. If respondent's territory is not interconnected, the
Column (h) the amount of firm power sold to Other electric utilhin maximum demand should be furnished sedaranlV for mch
for distribution and to railroads and street railroads for the inland district.
Demand supplied by I Sold to other -
Maximum load utilities during
Month
Date Period Minutes an outgoing Company Purchased period of Line
ended duration fin" facies, Omer, maximum demand, No.
(a) •(b) (C) (d) (el Ifl (g) (h)
January 113/ b'SFS r 57 ,i 3 Sa cf- — 21
February all /a.SDP !,r S`fq' 22
March 3�� 7:/SPM 1 S 502p .S(o fr — 23
April1 BaoP r S,a
May 24
1O:7oRlS
75'(0 _ 9G aF 25
June , y Q 26
July l (S X008'
7 � SIo o
11: oa,0o0pAugust 0 S — 27
September /
28
'� lS /o9-00 -f- !O/to -" 29
October 10 it 7.tbp
November 11 (0400
December / f p �- 4*0 r- 31
7.'00 /� 32
i
3. Steve Power factor at time of maximum demand during Yew and how dao r ined
IND/CATIA9 1.vs7-Rv14EN7- �90 G
*Enter in red Ink and Deduct from total.
'*Excluding Current used in station auxiliaries.Step-up vanformers we not to be Considered station auxiliaries.
I
63 182A-79
I '