FAYPWC.COM
FAYPWC.COM

APPA Financial Performance Comparison

An annual financial report from the American Public Power Association indicates PWC continues achieving its commitment to having the “Lowest Responsible Rates and Most Financially Sound Utility in NC.”  In its annual “Selected Financial and Operating Ratios of Public Power Systems, ” released in January 2020 (reflecting 2018 data),  the APPA indicated that PWC is performing very well in financial comparison to other Public Power systems.  Compared to the median and other utilities in our region and of similar size, PWC operated at a lower cost than most. 

An example of the information reported is PWC’s Total Operation & Maintenance expense (excluding Power Supply) per Retail Customer.  In 2018, PWC cost was $379, which fell well below the median cost of $544, $473 among utilities in the SE and $586 among utilities with 50,000-100,000 customers.  Below are cost comparisons in other areas of operation:

 

Ratios 

PWC

Median

Southeast
Public Power Utilities

Utilities with
50,000-100,000
Customers

Debt to Total Assets

0.070

.286

0.277

.409

Operating Ratio

0.803

.845

.872

.790

Current Ratio

7.17

2.79

2.79

3.00

Total Operation & Maintenance expense
(excluding Power Supply) per Retail Customer

$379

$544

$473

$586

Customer Accounting, Service and Sale Expense
per Retail Customer

$38

$66

$64

$82

Administrative and General Expense
per Retail Customer

$159

$179

$169

$212

Labor Expense
per work hour

$42.73

$42.78

$36.20

$50.85

Energy Loss Percentage

2.64%

2.87%

2.92%

2.76%

System Load Factor

52.9%

58.4%

54.6%

64.0%

Capital Expenditures to Depreciation Expenses

 $0.71

$1.18

$1.07

$1.30