Text

1997 Omaha Public Power Districts Annual Rept
	ML20217G743
Person / Time
Site:	Fort Calhoun
Issue date:	12/31/1997
From:	Dodge N, Gambhir S, Petersen F; OMAHA PUBLIC POWER DISTRICT
To:	; NRC OFFICE OF INFORMATION RESOURCES MANAGEMENT (IRM)
References
	LIC-98-0048, LIC-98-48, NUDOCS 9804020506
	Download: ML20217G743 (34)
	v • d • e

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EMB Omaha PMc Power Disinct 444 South 16th StreetMaM Omaha, Nebraska 68102D47 March 24. 1998 LIC-98-0048 U. S. Nuclear Regulatory Commission Attn: Document Control Desk Mail Station P1-137 Washington DC 20555 s

Reference:

Docket No. 50-285 l

SUBJECT:

1997 Annual Financial Report l I

In accordance with 10 CFR 50.71(b). enclosed please find one copy of the Omaha Public Power District's 1997 Annual Financial Report. f If you should have any questions please contact me. *N Sincerely.

S.'K. Gambhir Division Manager -

Engineering & Operations Support SKG/mle i ,

m Enclosure i Lvvb c: E. W. Merschoff. NRC Regional Administrator. Region IV (w/o Enclosure)

L. R. Wharton. NRC Project Manager (w/o Enclosure)

W. C. Walker. NRC Senior Resident Inspector (w/o Enclosure)

Winston & Strawn (w/o Enclosure)

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9004020506 971231 ,

PDR ADOCK 05000205 ' b, O

I PDR CS512' Employment en Ecual Opportunity

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t cane in a new reskiential subdiviskn1 l ) j 610 PPD personnel check progress of work at the ..<.- l

$ Unhirsity of Ndraska Medical Center, where the utility -i i '. .l 15 sen;ing as general contractor for a senice upgrade. ' .

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hw$b M M M N.P. Ik)dgeJr. Fred M. Petersen
?%% k; M M Uh Chairman of thelward President, lf f President, N.P. DoJge Cornpany Chief E1ecutive Officer mWml%@wq 6% MM he area of southeast Nebraska served by the Omaha Public Power District is enjo>ing f% solid economic growth, low unemployment and an overall high quality of living. 0 PPD is h
y~p%@9@Wy%g not simply supporting that gmwth, it's pla>ing an active role in promoting it with an expanding v
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and progressive menu of customer. friendly rates, services and actions, while meeting our legis ative mandate.
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J% ' , M OPPD is committed to meeting the changing needs of its customers, and examples are presented throughout this Annual Report. At the same time, we recognize that our ability to meet those
)M9Mhh tjh 3Mg needs depends on maintaining and improving our traditionally solid financial and operating positions, and we again did that in 1997.
Qg$ghy Q jg I.ast year was the fifth in a row without a general rate increase, and cost stability was boosted further with the elimination of the monthly fuel and production cost adjustment (FPA) from p 'eA;%M p g.y i customer bills effective April 1. This adjustment was used to account for variable costs associated with producing ekctricity and either increased or reduced customer bills accordingly.
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,?y3W$gg Q 4, h fliminating the fPA has provided customers with the price certainty they desire in their personal and businesslives.
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k lhrough the years, OPPD has taken advantage of every prudent financial opportunity to benefit
@ - 6Q s A our customers, and last year was no exception. The sale of $80 million of 1997 Series A Ik nds is a gg 4 &J good example. The bonds uill be repaid over a much shorter period than usual- just four years. As
.;g 4 y y tb a result, we'll reduce our overall debt more quickly while improving OPPD's competitive position fjg gg; R <%Q g g@] W for the future. Such fiscal planning is a key to our ongoing financial strength and rate stability.
Other financial results reflect the effectiveness of our planning and our ability to implement that
[ We W planning. Operating revenues exceeded $483.9 million in 1997, an increase of 6.7 percent over the
%g Jf j$4sP]py QC 1996 figure; net operating revenues were $176 million, more than 14 percent higher than in 1996; operation and maintenance expenses increased by just 2.7 percent to $291.4 million; and net earn-p $]gg ings for 1997 exceeded $47.1 million, almost 20 percent higher than the 1996 figure.
kMMg % p &g RW Significantly, the average cost of OPPD ektricity for all retail customers was 5.37 cents per Lilowatt-hour in 1997, approximately 20 percent less than the national average.
[giM QMMF $j$(? d Clearly, financial stability and operating efficiency are directly related, and there were numerous accomplishments in the operating areas of our utility last year. In October 1997, the Federal Energy fp? WCFQ Regulatory Commission gave conditional approval to OPPD's open access transmission l'
M tariff, another key step toward ensuring our access to transmission systems owned by other P@Q%nMf]
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$]N utilities. The importance of that access was highlighted by the fact that sales to other utilities were again strong in 1997, topping 2.5 billion kilowatt-hours. That figure was two percent above 1996 v
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sales and 37 percent higher than in 1905. Revenues from those sales are retumed to all OPPD se$g customers in the form of rate stability and system improvements.
Sygg%j] 63 o One reason for our success in the area of wholesale power marketing is our supply of economical 9@g $ M
,y ekctricity. That already good situation was improved last year with major modification work done at the 652-megawatt Nebraska City Station. Plant capacity was increased by 34 megawatts and a M ; MQNi, y+ new control mom equipped with the latest digital controls was instalkt! to increase efficiency and 4 N3 s . ., o q h
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~ . m,Jekx. f@hy'L, y pgg gj Dy W.m.w .y u qY ;&n m? v,%Q$$$ a4a MW WNEWh OPPD's Nebraska City Station consistently ranks among the most cost effective power khkNhM 73gg.pM p generating plants in the nation. ggggMQQg nw wwwxam 58hR J Operating Revenues lgyg$q@@SQ <; j Operating revenues for 1997 were $483,953,000, an increase of $30,431,000, or 6.7%, from 1996 operating b $j;d i Nbg r revenuesof $453,522,00().
Se$7 me nh %g h Operat.ion and Ma.in tenance E.xpenses m x% wa h Operation and maintenance expenses for 1997 were $291,449,0(X), an increase of $7,701,00(), or 2.7%, hMh from 1996 operation and maintenance expenses of $283,748,000. Mih@@hh}
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MEng Net Operating Revenues gg sa3 OYcpd= g k Net operating revenues, before depreciation and decommissioning, were $176,057,000, an increase of 0i&j #4 # $21,782,000, or 14.1%, from 1996 net operating revenues of $154,275,000. M g# ga #% ;% d p ;a %p$g %M s yh '; QUf $$P f gene i Net Earnings Reinvested in the Ilusiness Net earnings reinvested in the business totalled $47,152,000, an increase of $7,813,000, or 19.9%, from MI!M 1996 net camings reinvested in the business of $39,339,000. h22@%w$@w og Q Generalilusiness Sales WF' $o m!hd General business sales to District customers were 8,040,593,00() kilowatt-hours in 1997, an increase of MWQtN%p;I WM M 284,102,00(), or 3.7%, from 1996 sales of 7,756,491,000 kilowatt-hours.
@M@s%Wg3 V 9 Average Nuniber of Cttstoniers 3 AnMMW@,9@
The District served an average total of 276,867 customers in 1997, an increase of 4,602, or 1.7%, from the NSb D, q$ m M M q 1996 average total of 272,265 customers. Q pg$ggg::/w ww af j Averah'e Residential Use wr p# M, %m.wex JM Average annual use per residential customer in 1997 was 11,129 kilowatt-hours, an increase of 280, or 4N ,g qqs 2.6%, from the 1996 average of 10,849 kilowatt-hours.
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Average Residential Cost The District's residential customers paid an average of 6.81e per kilowatt-hour during 1997, approximately
%:M M M.id n 1.n,w,fg@ M 20%less than the national average. @sa@a.;4 um W -mig%
1997 Net Construction Expenditures . .W Expansion and improvement of system facilities during 1997 required net construction expenditures of $88,007,753. fVM(w
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',JF reliability. Over the past several years, Nebraska City Station has consistently ranked among the f ,m " ,
most cost-effective pmver generating plants in the nation, and the recent modifications will O*g -
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help ensure continued t conomic operations at the plant. " <* An agreement reached last year between OITD and the Burlington Northem Santa fe (BNSF) UD < j9%[ M " y, Railroad also will help promote economical power-pnxluction costs by providing competitive [ 'f), , , I(@,
rail access for coal transportation to Nebraska City Station. Under the agreement, OITD will l,l, S.,.
take possession of and begin operating a 56-mile section of track between Lincoln, Nebraska, . , F Eg[#Uj' s .W L': y lMM i and the Nebraska City iacility on Odotrr 1,1998. Opening coal transportation to comittitive bidding is expectal to save millions of dollars each year for OPPD and its customers. F 'bg - Electric utilities across the aation are anticipating a deregulated industry and increased WW s, f, competition, and OITD is no exception. It's important to note that as we've prepared to do . g"< OaJ;jf y? business in a new environment, we have continued to make the interests of our customers our W ;g4 p top priority. Several actions taken in 1997 refktt our corporate desire to deliver the benefits of deregulation to our customers while minimizing any risk that may accompany it. Examples n '/ ; Q } ? include the following: .l e OPPD developed a new marketing organization to pursue development of products and h[ N j[il1X m ,> MI senices that our customers will find useful. e We began offering performance contracting senices to commercial and industrial p hh
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[q t N " ,V customers in partnership with Viron Energy Senices, a professional engineering and '
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building construction finn. With perfonnance contracting, customers can make facihty 6 BE Sgc, e" , improvements designed to increase energy efficiency and finance those improvements bm 5 Q m' with the energy dollars they save.
OPPD initiated a pilot project to provide real-time load monitoring seniocs to help M [T $ ,' ,~.f^I %
commercial, industrial and residential customers use energy more efficiently and
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emnomically. Under the pilot, equipment is being instalkd in businesses and homes that
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enable customers to monitor energy use and make smart decisions about modifying their
} [a?[ 7 3 consumption. py . ygf . The utility implemented a summary billing program for ctatomers with multiple accounts g,- gg to make consolidated energy information more available and to help them streamline accounts payable, budgeting and other activities. M ,g,,,t, M# +w m
We helped organi/e the Allied Utihty Network, an association of mid-sized energy [$X:# iy' A
companies from across the nation formed to develop and market new senices and b ' 4 pmduds that can be economically provided to utility customers. The network will 3C" further aid OPPIrs ability to serve its customers in ac' ompetitive environment. R, j r ([ f While active in its efforts to meet changing customer needs, OITirs focus on ctntomers may l ' ,1 '1 #
, y m4j have been most visible in its reaction to the challenges pel by extremes of weather. In July, high temperatures forced the demand for electricity to record levels, and OPl D responded [y) ,- ' v j';
successfully. In October, a devastating snowstorm caused more damage to the electricity 9;; % . ,' delivery system than ever before, knocking out power for more than 130,000 customers. b-glq OPPD reslunded with a monumental effort that tumed the lights back on, while presening ;,- the safety of the public and of the hundreds involved in the restoration effort. ((; . 2,3 +s ,. Over the years, OPPD has developed an impressive record of meeting such extreme kN i W f' challenges and the day-to-day needs of its customers. We recognize, however, that h,,. ( e.xpectations are incre' a sing steadily as our economy and customers grow more dejendent not just on reliable, affordable [uwer, but on new energy-related senices and pnducts, as well. (Q [~, M 9 , As we were in 1997, the Board of Directors, Senior Management and the men and women of OITD remain committed to meeting those growing expectations in a manner that benefits fj @y ' ' Q,,
j each and every -
untomer-owner of this utihtv. 7 i ~,- g p , ,
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N.P. lhlge Jr. Chairnun of the luard Ired M. Petersen l'reudent. Chitf hetutne ther [K *
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a r g[paa hN$; f Mh Workers replace large portions of the boiler tubing during a major overhaul of g@ ;. ,- WW$$ North Omaha Station Unit 1. hU@g%p L.9, M Q UMf%,Qjj 4 a , y . Actions address customer focus y ;4f';m' i g yl, j * ':M} MQ "I_ -; M M N @ lF D h fld ulC(f OPPD concentrated its efforts on being a Nebraska at Omaha and First Data $ Mfgb Qg reliable, responsible energy partner to its Corporation. OPPD reassembled a project 4f ? g M jeS more than 276,000 customers in 1997. While team to help Cargill-one of the utility's '4Q{Qgpg doing so, the utility made great strides in largest electricity customers - more than jRjdN(WNbdttfj;; promoting new business development, double in size. And Ihctric Operations crews pgghy W improsing relationships with customers and assisted with the Strategic Air Command [ ,.. M. M ft 5lf k.,C(l ll; c preparing for future growth. Museum's 36-mile relocation of 33 aircraft and w n"u 6,., 9/
.1 As the economy in the area flourished, six missiles to a new museum site.
by Fi/Iffid5l0hilorf many of the utility's large customers As customer needs changed and grew, the gp h(U~ a An s Wsa M 000 3 embarked on expansion projects, and OPPD took extra measures to accommodate utility found new ways to respond. In May, at4w% s%%opve/ 9 TI(ll OPPD signed an agreement to serve as general M customers, requirements. Account execut.ives contractor for a service upgrade at the g' J, ' s M
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a and customer sen ice representatives maintained communication with customers University of Nebraska Medical Center, which k M M~ , M ' I'IllI s throughout the year and worked with Electn.c was a first for OPPD. Another first was the ,W' g, ta m,W;e. m s.m y a4 up~e Operations and Fagineering personnel to creation of a program for commercial customers that can reduce the costs of '
$ hd385%IFRIdirS. meet their needs. The utility' established or 1 % ",,, TM installing and maintaining ground-source upgraded senice to some of OPPD's largest h 4 g"' b4d customers and helped expedite some of heat pump systems.
gid g Jy the most noteworthy development projects While finding better ways to serve Ma _m m the area. customers, OPPD took care of several ke.y
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For example, crews installed ductline and operations projects of its own. For example, h..N.,
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V c fGi -Q 'l Q g p r e M :d., t Dave Wesely, left, serves as OPPD's site engineer for an ongoing electrical upgrade at the University of Nebraska Medical Center campus. Dave reviews plans with OPPD Account Executive Dan Gellerman. {Wpkflgg gp n
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- n ha 9r When University of Nebraska hiedical Personnel in OPPD's facilities hianagement Mj C Center (UNh1C) officials determined they Division are providing project management g 6 K'? gppJ f needed a senice upgrade to meet the new senices for the upgrade. *We hired an engineer- f7 ,%,
load for its Ued Transplant Center, they ing firm to put together the design," said Ken p f W $ % '^, looked to OPPD for help. Roth, OPPD's manager of project management.
"In collaboration with medical center personnel, N W $$ '
The 14-story,251,000-square-foot stateof. the-art center - scheduled for completion in we assembled the specifications, put out the bids g o "pgg - 1x %_Q ~ < October 1998 - will serve as a national model and awarded the contract." gg,hgpQN for transplant programs. Because of the In addition, OPPD has been pro iding site @ complexity of the senice upgrade, UNhiC representatives asked OPPD to act as a engineering during the construction phase of the project. "An OPPD project engineer serves U@' Q[p g %gn p g9 T{ ) kg[gp' generalcontractor, as a liaison between the medical center and our wy qys p%gh0kN "1he agreement marks the first time the contractor at the job site," said Roth. "There is p utility is doing this type of work on the a lot of coordination that needs to be done, Gy Qjgy((.y p gig
because in addition to the senice upgrade and customer's side of the meter," said Dan Gellerman, OPPD account executive. the construction of the transplant center, UNhiC
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"The project includes upgrading UNh1C's is expanding its heating and cooling plant." Ud 5 MSyff!
15-kilovolt primary system. By being responsive to customers, such as i: M
*We deal in high-voltage construction all of the time " said Gellerman. "They felt we were the University of Nebraska hiedical Center, OPPD is helping to improve the quality of life f]g[k@v}[ w 'l%
qualified, and they trusted us to do it." in the area E h~ n'< ;W; *, [.: L m y g w
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[4"j)[kM$% . OPPD uses a helicopter to expedite line inspection and repair jobs. %; % d ' icd Ody: . MP F i prepare all OPPD computing systems for the on transmission and distribution work, which khkM#Sa Year 2000 As that work progresses, systems are being redesigned to promote more efficient includes adding sections of 345-kv and 161-kv lines and supporting substations in various NNONdN.[$M
MS 4 t [orand the utility in a competitive environment.
work processes, which will benefit customers areas ofits senice territory. jW N@ q p %,il In addition, last year OPPD focused its g t Routine maintenance of power-production infrared inspectiori activities primarily on
,j genp . and delivery systems also produced excellent underground equipment. These inspections Oil results.1ife optimization efforts at North helped identify 44
hot spots" or potential M$
@ J> N,T ' @3 Omaha Power Station continued with a major problem areas on equipment. The infrared m% 4 9 p,yy.. t imaging system also was used to inspect Orcr file next tilrec equipment belonging to large commercial and g%gs y pWeT U i industrial customers. And in some locations, a g }q }9$d years, file Hlility Wjjf helicopters were used to help inspect the RQfigS transmission system. OPPD also continued $n, M D b U SpCHd Gppr0XIHlatfly to rebuild the vaults in the downtown fNah,4 3 hh@h Omaha network, which serve numerous large TWGM%g.
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O y 540ndllion On businesses. This effort includes installation of equipment that will increase remote monitor- $[g;ff[9fj (TdHSUNSSIDH and ing and control capability by OPPD personnel, M <
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p~ f. 6 4 . gjSt7ffyg[j0H W0rk, availability. In addition, personnel conducted 9 power quanty investigations on equipment for F, q 7" ' 77 overhaul of Unit 1. Poiler tubing was replaced, several customers. Thanks to such efforts, the the precipitator was refurbished, the turbine @} glW average system availability in 1997 was was overhauled and other maintenance work 99.9875 percent. ; was completed. As always, the utility emphasized safety s 6 The utility devoted resources to ensure
, in all areas of its operations, and it was able customers continue to have reliable ekctric to share its safety expertise with several cus-6%[46b%$3 E senice. Work began in November on a major tomers. Fort Calhoun Station Training Center Q ]jdjj undertaking to increase OPPD's power trans- personnel provided training on topics such as jng3g.jg q port capabilities. 0ver the next three years, the crisis management, confined-space rescue and
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W lQ,?l ? f i&U ~ f%$hg /['w o ll & l e, bi n(. G m g&n e V ggglv ? ,e e Q OPPD has 13,013 niiles Team approach (2q Wsp$$p N& proves beneficial to V+ Ofelectriclu.les. Iflaid c. f fast-growing Carg.ll i me elld 10 elld, th0Se IIHes When one of OPPD'slargest customers ky j announced last year that it was going to UM y r W0ldd Stretch N#l[Wdy more than double in size, OPPD quickly reassembled the multi-h jjh dyky ar0HHd the World. discipline team that had V"" ~ ""~ $.
;Mhp YkN t i L worked on a fast-track ( , .
schedule toget Cargill up and running a few j. . , "Weworkveryclosely4
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[g[ years earlier. p : gjpg])Riren % erSto j{;f Within a five-month period during 1997, ( .' , p g D findoutwhattypeof? MB Cargillbrokeground for k ~ -- - n # facilities that will iiro- UF v service they want;.'and %9 ducethreenewproducts [ w .gg at its Blair, Nebraska, i m -
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N location. All three are intemational joint- [. : hen we% -nevelogtlienrost h.. e~' .. M . 4 g p venture prolects-one L efll0Cnt AndeffectlVe Why; LK
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7 p!! '! , j aJapanese company. "" " ggypgy ff . Like Cargill's original com-processing plant, gp g % g A gggf74
'3 . .g which processes about 170,000 bushels of com
y a day, the new facilities will require a lot of electricity. By 1999, Cargill expects that its hKw$ggj$ g g 1 , electric load could more than triple. M W WWE
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with Cargill personnel and attend regular gpp?;yghqm;e u
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progress meetings. fw i hm.%pfM' y s nm g q' ' " Keeping our employees educated about 94 M. f.:M Cargill's needs has been key every step of the y h!yf[gy way" said OPPD Account Executive Stewart %yg gp f MN M w a .
$ [ Quaas. "We work very closely with their VC engineers to find out what type of senice df ' jr g%?Ny%iy r #
they want, and then we develop the most efficient and effective way to serve them." glkh$hf l OPPD completed a major Said Cargill Plant Manager Pat Bowe: "We h generating capacity uprate at Nebraska City Station. During have found a great partner with OPPD. The utility has been responsive and willing to help D[Q4 h P%@M f 7Mf Q@M the uprate outage, a digital control room was added. Above, us grow. OPPD's rates help us be competitive, and Cargill's curtailable power allows OPPD to
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workers remove cables from the be more competitive." E [%gv$ /MQ@ .B W om main control cabinets and connect them to the new p syfpy%M[Q, M'y'4 kgg /p digital control system. y 7t; gg pf , Jgw n~ p&pm" y g , z a%
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@ l g./ f i Following the October snowstorm,180 OPPD employees volunteered to help pick up - 24 T ) OI downed limbs. In one weekend, the group removed 324 truckloads of storm debris.
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companies. In addition,25 representatives into an overhead powerline. (("hMP"M .' from area television stations attended an ekttrical safety training session at OPPD's The utility also spread the electric safety message to residential customers through its p g %{% yd g[ ~ ~ j/ ,3[' M headquarters. OPPD offered the training in response to an accident in Des Moines, Iowa, new Project Safe Neighbor program. The program was developed after the October snow-h' ' A ' .pp involving a television reporter and photogra- storm, which initially left 130,000 customers
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q g] pher. Both were seriously injured when the without power and knocked down an estimated
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20,000 home service lines. Project Safe b ]y " _ p. 741L L . Neighbor is helping customers in financial need [% - #"' p' - . % - expedite repairs to damaged home meter assem- % i 14 blies, eliminating the potential safety hazards m , . 4
, j. ' . ~. .f ', that could result if repairs were delayed. OPPD g;_ .
i .. hired a contractor to complete the repair p - d d work at a reasonable price, and then allowed N customers to pay the repair costs with their h4 jk . , _ .
? electric bills over a 12-month period.
3p - QJ,.4 The utility's concem for the community also QL;
., was evident in other projects last year. A Tree 'P[ Promotion Program sponsored the planting of pg p , y _
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more than 2,100 trees ani shrubs throughout southeast Nebraska, and recycling efforts at G*7 % n 5 s OPPD facilities resulted in more than 201 tons
, a of recyckd materials.
J[W m p,; @ 9 Improved customer communication As OPPD prepares for a more competitive fi ' .k.,3 #2 1 k. n k % 3
%_'j remained a priority for all employees in 1997. Bob Baye of Customer environment, it continues to serve .ts i Care Services pulls up the customers and make decisions based on good %h W (3 '
customer's account as he talks to business practices. By combining today's tech-
,7 M the customer on the telephone. nology with its long-standing commitment to 1,4 excellence, OPPD is better Iirepared than ever .u i % ,o $ . !{3 s t
g'yJ to face an increasingly challenging business v - : - ma environment. E e 4
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y y 339 vm - s dr , h.@{L %:N}}q& ,b g@ae WW L New program delivers geothermal energy Underground service improves Nebraska hPjy 4 :ff As part of a new program for commercial hog farm operation Qg*d7 p
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b customers, OPPD will own and maintain a geothermal-loop heat exchanger (GUIE) on a Agri-business is crucial to the economy of kb J $ heat pump system at the Quality thing campus, southeast Nebraska, and OPPD works hard to QW @ 4 located in northwest Omaha. meet the special requirements of all customers, regardless of size. The electrical upgrades con-hMh$ Nj% n QR i d%
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M Quality using Inc. is a non-profit agency that ducted in 1997 at an expanding hog farm are provides housing, education, rehabilitation and just one example. Qh%%R$@ MM$MM other senices to young adults who have suffered traumatic bram mjury or who have severe "The farmer had two overhead services, and he wanted to combine everything and put it under-dhkENb6 O h sical disabilities. Ihe agency will use the heat ground, on one meter,,, said Ferne Upsys, an M"fNMMmm@ u < w-1 pump system to heat and cool a three-building, OPPD customer senice representative. "The p _ Nbp W cJm~ M%MN 909)0 square-foot addition to its campus, and " customer also was planning an addition to his ia a flat monthi ' fee for the ener obtamed farrowing operation.,, E@? O ea w w we from GI.HE for 10 years. X "This is part of our core business of being an *'
, C J MNCR y$3E energy provider," said Dennis Rice, manager of @[
Trade All ' Programs. " Basically, it's as though we're installing a small power plant in the '
' yk a ground. Quality Uving will pay for the heating . % ,,._y .s .
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<' .cco and c miing energy generated by the system. The $ jpg JgetNh monthly fee will be separate from the cost of # ~ ~ --- ~
normal ekttricity consumption. 4 gM -.
,3 opy,4 .~pss . _vg "When they assume ownership of the .I' 'Y ' - T geothermal-hop heat exchanger after 10 years, %7 7 - - %' M q.y they will see extensive sasings on operating and P 4A1 '
maintenance costs," Rice said. "They also will .-. ' d,fy
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save a considerable amount m. up-front costs, m. p - part krause we're eliminating the need for a w%g
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cmling tower and boilers." g Quality 1.iving personnel agreed to the arrangement with OPPD because it makes good OPPD's Don Shumar,left, and Ferne Lipsys
%QMpf1M, , k business sense, work together to upgrade service on this southeast Nebraska hog farm.
[' t,gg[Q'Ny{g l h "We've long been determined to use sound business practices in all aspects of our opera- OPPD Technical Services Engineer Don @g[p %gy) tions," said Bob Cook, chief operating officer Shuman visited the farm and noted all of the W ' M S of Quality Living. "We're excited about the electrical requirements of the outbuildings and b'J geothermal system. After OPPD approached us about its new program that provides incentives the residence. *The operation is very spread out, and the requirements for each building varied," f'?$$' f 3
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for businesses to consider geethermal, we did said Upsys. "Some needed lights, some needed blj@ 4jD f some research. We talked with other businesses heat. Don figured out the distance, the wire size 4"W}hM%g( gj
, that have geothermal systems. and the correct voltage for the different areas." p g g)W *We studied the data conceming the savings in addition, the customer added a transfer JSdN;j on utility bills, and we k>oked at the issue of switch, allowing the operation to run on a long term maintenance," Cook continued. standby generator in the event of a temporary p{g &Sb gg 3 *When you put those two together. it becomes a very ecunomical system. Geothermal has a lot to power outage. /6 offer, not just in energy savings, but also in com-Upsys and other OPPD customer senice representatives are working to see that OPPD !QYCTf }ho/M parison to the maintenance that's required on a traditional cooling tower and energv plant." E continues to meet the needs of customers in f1 rN: ~ %
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pS %~ 9 * ; In 1997, OPPD plays integral role V , conStniction Wa5 in area hous.mg boom Residential subdisisions and spacious acreages continue to spring up - f1Cl[Onnedin at record pace - around metropolitan and rural areas of southeast (. M; M Nebraska. A strong business climate, high-quality labor, a low crime rate c 47nCW hollSing and some of the lowest electric rates in the country have contributed to Af i the housing boom. 0 PPD has played an integral role in helping meet 4 J %j$g[M[Qh f M Q.g d id SubdWISlonS, this growing demand. c&a@,tmf fn'01'idn, ig SCmce %l v p& pg; MQ@4 ]% e i$00))ln*0XUUGlClf d@ y . ( 3 800 nCW lots.
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@fW;Fe; ,, Dfg, s{ 3 ^ n , fy 4 Q as V @% %,. 3 , g.1 OPPD's Cesar Rosales,left,is one of several representatives y from metro area utilities who meet monthly to coordinate ' /L is work and review construction projects. (( , M F/ - s The work has been steady the last two years, and there's no letup in h 3 h;,j i/ - l
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sight, according to Dan Whitney and Ron Bushon, who supenise OPPD Electric Operations construction crews. In 1997, construction p ,
; Y ' j6v(f was perfonned in 47 new housing subdivisions, prosiding senice to
$y[z 1 approximately 3,800 new lots. In addition, to improve senice, the utility % rebuilt more than 80 miles of overhead rural distribution line, installed
l. % nearly 75 miles of backbone cable in new underground residential M
@@ Mi 27 - 1 developments (URDs), replaced 10 miles of aging and poorly performing URD cable, and installed 2,599 individual services to customers. kh;; . _ 2
, "We coordinate the dNa and construction of new subdivisions with 3 the appropriate OPPD departments, as well as with the local telephone fN and cable television companies," said Cesar Rosales, a residential subdivi-gQ$p g ;;yg System Operator sion account executive for OPPD. His position was created a couple of 'f years ago to provide a central contact point for builders and developers.
(g3;cQ@ Q , , . Mike Gibson helps "We work closely with the developers and engineering firms. Whatever M2[1 > ?.; p7 coordinate day to-day C# 1 M O , i f; M
@J 4J maintenance on the they need, we channel through to the appropriate OPPD work area."
All of the entities involved attend monthly underground residential TAD system to ,
/m kM M6 ensure reliability. development meetings to coordinate work and go over proposed ; ' SJ r pA6 construction schedules. "When it's time to install the power, we coordinate with the other utilities. Our crews dig the trenches and g
"g}, Mg%]h bdAMZ y<W install our cable, then the phone and cable companies install theirs and close the trenches," added Rosales. M[.. M[W, @fi$) ,71 No matter what size the homes are or where they are located, OPPD is equipped to welcome these new customers by prosiding reliable and ,i h.[7] affordable electric senice. R
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Tea 6ers and students from a Millard elementary school studied about trees in the classroom with Paula Johnson, left, a member of the Metro Omaha Builders Association to s ;e# @M)W 33 ff M
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pro! %w To eight. and nine-year-olds, a little seedling in 1997,OPPD spent nearly $50,000 to jfr is a big deal. Parent Paula Johnson points to several charming thank you notes wTitten by sponsor 33 tree-planting projects, adding a total of 2,111 plants to the southeast Nebraska g y' gdfiMW y;h$3 u< 4, g mmwp hiillard School District third graders as proof. landscape. Since the program began in 1990, more than 83,000 trees and shrubs have been Qs M/ hfore than 1,500 students in the suburban Omaha school system received seedlings on planted by civic groups, schools and other 4))g'yggeg$@ply the b Earth Day 1997 thanks, in part, to OPPD non-profit organizations. p Jgqggjy and the hietro Omaha Builders Association pm mv * +7mm- mm N W (hf 0BA) Women's Council. The council ;.h"It's educatbnalfand thi : l applied for sponsorship of the seedling give. away through the utility's Tree Promotion F k ikidsnally~likeit.Ithat
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'd g$hfQMM9 The program promotes the planting of trees thelpedcreatea betteraware-i $i2%p%MglQn and provides education concerning the value, b ' . .. , . _ . . . . , , . j ha selection, placement and welfare of trees. It also promotes the proper planting of trees in hNCSS ah0Hl' trets /h0th[Drthe! . , F ' /E o a $[
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m i J council, said this was the third year for the The program takes on added importance in seedling give away. ,,We are so thankful for light of the October 1997 snowstorm that devas- 9-- the grant,,, she said, ,it's a great project. It's . &- educational, and the kids really like it. It has tated thousands of twes in southeast Nebraska. p% . % @e To help reforest areas hardest hit by the storm, Am helped create a better awareness about tees, OPPD increased program funds to $250,000 to
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Finan@gl: , M y .j a.aa.+.muw n=x s.a ~ waa.- . - - xx. u_ a w a~a w._ x.u a in December 1946, the Omaha Public Power District funded the purchase of the Nebraska Power Company with a bank loan for $42,000,000. Revenue bonds were issued in February 1947 to pay off this loan. Since then, $2,815,990,000 of additional bonds have been sold. The District retired $27,160,000 of revenue bonds in 1997. These retirements bring the total of bonds - redeemed and refunded through 1997 to $2,044,130,000, leaving outstanding bonds of $813,860,000 at December 31,1997. During 1997, 540,889,000 of interest expense was charged to operations on outstanding g. bonds, representing an average annual rate of 5.1%. Outstanding commercial paper at December 31,1997, was $50,000,000. During 199', $1,813,000 of interest expense was charged to operations on outstanding commercial paper, representing an average annual rate of 3.6%. The outstanding subordinated obligation at December 31,1997, totalled $4,116,000. During 1997, $373,000 of interest expense was charged to operations on the outstanding subordinated obligation, representing an average annual rate of 9.0%. Outstanding Minibonds at December 31,1997, were $29,377,000. During 1997, $1,798,000 of interest expense was charged to operations on the outstanding Minibonds, representing an average annual rate of 6.1%. Gross Ekctric Plant amounted to $2,319,691,000 and Nuclear Fuel (at amortized cost) amounted to
$40,804,0(X)at December 31,1997. Accumulated earnings reinvested in the business increased $47,152,000 to a total of $898,911,000 during 1997, while total assets increased $19,063,000 to a total of $2,039,195,000.
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t 9 fIrw"-4._ _ dant AinditorsiReport " 1 4, 'q Smemmmammmw.Aawamaamm .mm.m.ow.am.d Omaha Public Power District: We have audited the accompanying balance sheets of the Omaha Public Power District (the " District")
., as of December 31,1997 and 1996, and the related statements of net earnings and accumulated earnings reinvested in the business and of cash flow; for each of the three years in the period ended December 31, 1997. These financial statements are the responsibility of the District's management. Our responsibility is & to express an opinion on these financial statements based on our audits.
We conducted our audits in accordance with generally accepted auditing standards and standards applica-ble to financial audits contained in Gowmment Auditing Standards issued by the Comptroller General of the . l United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion. In our opinion, such financial statements present fairly, in all material respects, the financial position of the Omaha Public Power District as of December 31,1997 and 1996, and the results of its operations and its cash flows for each of the three years in the period ended December 31,1997,in conformity with generally accepted accounting principles. As discussed in Note 1 to the financial statements, the District changed its accounting for certain investments in accordance with Statement No. 31 of the Govemmental Accounting Standards Board. In accordance with Government Auditing Standards, we have also issued a report dated February 18,1998, on our consideration of the District's internal control structure over financial reporting and our tests of its compliance with certain provisions of laws, regulations, contracts and grants. h b$ del.0ITIM TOUCIIE 1.lf Omaha. Nebraska February 18,1998 4 17
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Uf1Lin'PIANT. At cost: 2,9 e. Ekctric plant (includes construction work h1 progress of $93,012/0)and 584,645/100, respectively)-- 5 2,319,691 5 2,249,455 ...
" i Irss accumulated depreciation 917,249 837,216 Ekttric plant net - 1,402,442 1,412,239 Nuclear fuel-at amortized cost 40,804 60,278 Utilityplant net- 1,443,246 1,472,517 SPI CI AL PURPOSE FUNDS - (primarily at fair value): 1,3,4 Construction fund.- 116,323 27,087 Ekrtric system revenue bond fund (net of current portion) 40,964 45,726 Segregated funds . .. .. 11,431 10,436 Segregatedfund collatcralizedsecurities 920 8,285 Decommissioning funds-- 131,579 113,251 Deferred compensation fund.- 7 -
99,851 Totalspecialpurpose funds.- 301,217 304,636 CURRENT ASSE15: Cash and casn equivalents- 4 9,791 53 Revenue fund U.S. Government scarities (at amortized cost).. 4 30,713 17,236 fjectric system rewnue bond fund current portion 61,422 41,886 Accounts receivable 34,564 28,539 Unbilkt revenues- 17,905 16,351 Fossilfuels ataveragecost 10,500 9,609 Materials and supplies at average cost . 38,164 36,392 Other 5,069 4,619 Totalcurrent assets- 208,128 154,685 DEFERRED CilARGES. 5 86,604 88,294 e TOTAL.... - - - 52,039,195 52,020,132 S(v flotC110 fi?ldskbl $1dlet! kills. 1 i 1 l
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N. G a % w u u w l i m $5 k :w n . a u.d. L & . a a.s O .a w n. 4 % LIAlllLITifS NOTFS 1997 1996 (thousands) IDNG-1LRhi DI BT:. 2 Ilatric system revenue txinds net of arrent portion: Serialinnds,3.85% to 5.5% due V annually from 1998 to 2010.. 5 452,760 $ 421,070 Term bonds,5.25% to 5.7% due at various dates from 2009 to 2017 312,790 312,790 Totalelectric system revenue bonds 765,550 733,860 llectric revenue notes - commercial paper series.- 50,000 50,000 Liectric revenue notes minibonds- 29,377 29,532 Sulordinated obligation- . 4,005 4,116 Total .. .. . 848,932 817,508 less unamortimi diwounts and premiums.. 7,393 8,391 long term debt - net.. 841,539 809,117 CON {NfITMEN'IS AND CONTINGLhT IIAlllLl1115.. . 9,10 I LIAlli!11115 PAYAlli.L IR0h! SLGREG alt.D IUND. 3 7,163 6,652 CURRLSTIIAlll!ITIES: Current portion of electric system ic.vnue bonds 2 48,310 27,160 Current portion of subordinated obligation. 111 102 Accounts payable. 34,140 37,478 Accrued paymentsin lieu of taxes.. 15,509 14,561 Accrued interest... 21,313 19,712 Accrued pnxiuction costs-- 1 - 1,577 l Other. 23,577 20,446 Totalcurrent liabilities 142,960 121,036 OlllLR LIABILillLS: Decommissioning costs-- 130,967 113,110 IAbed compensation 7 - 99,851 + Other; 8 17,655 18,607 , Totalotherliabilities = 148,622 231,568 I ACCUML'LA11.D LARNINGS REINVISTLD IN 1110 BUSINESS 898,911 851,759 l l TOTAL- 52,039,195 12,020,132 l l 19 l 1
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OPERAllNG REVENUIS. 5483,953 5453.522 5435,347 OPERA 11NG F.XPENSIS:-- Operation: Fuel = 80,180 78,946 77,717 Other production. I10,539 101,968 98,321 Transmission- 4,473 3,595 3,362 Distribution. 17,589 16,802 15,632 Customer accounts 12,416 11,017 11,081 Customer service and information- 4,834 4,394 4,086 Administrative and general 18,663 18,007 15,742 Maintenance.. 42,755 49,019 41,630 Totalo[rration and maintenance 291,449 283,748 267,571 Depreciation - . . . . . . 88,641 71,574 59,062 Decommissioning = . 9,910 8,058 7,987 Papnentsinlieuof taxes = 16,447 15,499 15,263 Total operating expenses.- 406,447 378,879 349,883 OPERA 11NG INCOME. 77,506 74,643 85,464 OTilERINCOME CREDil5(CllARGFS): Interestincome allfunds.. 20,963 22,076 20,902 Decommissioning interest transfer.- (7,415) (6,030) (5,180) Operating funds net increase (decrease) in fair value-- 124 (378) 2,725 Decommissioning funds net increase (decrease)in fair value - 457 (488) 2,753 Allowance for funds used during construction ; 2,637 3,066 4,055 Allowance for funds used for nuclear fuel - 134 315 328 Other net-- 1,761 2,248 302 Totalotherincome cmlits-net 18,661 20,809 25,885 LARNINGS IlEFORE INIIRIST EXPENSE.= 96,167 95,452 111,349 INIERFST EXPENSE 49,015 56,113 57,840 j NET EARNINGS. 47,152 39,339 53,509 1 ACCUMULATED 13RNINGS REINVISTED IN 111E IlUSINISS,ilLGINNING OFTilE YEAR 851,759 812,420 758,911 . l ACCUMULATED EARNINGS REINVESTED IN 111E IlUSINIXS, END OFTillYEAR- $898,911 5851,759 5812,420 Su notes tofinancialstatanmts. O
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1 i* ,g 3; New%:ee w w - - w Years w w . Ended.December:3121997! x a . m . - - ~ a a a w w . s,wawm.a._x=m I 1997 1996 1995 tthousands) CAMIIl0WS Ilt0M OPERAllNG ACil\Till$: 4 Opnatingincome 5 77,506 5 74,643 5 85,464 Adjustments to ntoncile o[uaring income to net sy- cash prosided by operating activities: Ikpatiation. 88,641 71,574 59,062 Amortliation of nuclear fuel 25,894 24,564 27,725 Decreasein otherliabilities.. (952) (3,367) (840) Other.. 695 10,027 2,975 Changes in current assets and liabilities: Revenue fund - U.S. Government securities. (13,477) (46) (10,054) Accounts nteivable. (6,025) (1,259) 1,381 Unbilkt! revenues.. (1,554) 161 (998) Materialsand supplies - (1,772) 342 456 Fossil fuels (891) 55 (202) Accounts payable: (3,338) 7,249 (4,102) Accruedpaymentsinlieuof tnes.- 948 233 (251) Other - 2,308 (11,477) (1,893) Net cash provided from operating activities-- 167,983 172,699 158,723 CASil 110WS FROM CAPITAL. AND RLIATED llNANCING AfiliTI1FS: Pnutt!s from long-term borrowings- 80,377 - - I Principal nduction of long-term debt.. (27,445) (186,113) (27,395) Intnest paid on long-term debt (44,000) (56,185) (53,875) Aajuisition and construction of capital assets (76,206) (87,026) (81,340) Acquisition of nuclear fuel (6,288) (17,304) (11,982) Net cash used for capital and related financing activities.. (73,562) (346,628) (174,592) CA51111OWS lit 0M IN\1SilNG ACTi\Till$: Purchase of sjuial purpose funds - investment securities .. (375,327) (71! 406) (825,567) Maturities and saks of special purpose funds - investment securities 297,914 835,484 818,547 i Nel change in electric system revenue bond fund - current . (19,536) 5,305 (1,432) Interest on investments.. 12,266 19,890 13,695 Net cash providal from (used for) investing activities - (84,683) 149,273 5,243 INCREASE (DLCREASE) IN CASil AND CASil LQUIVALEN15 .. 9,738 (24,656) (10,626) i l' i CASil AND CAsil LQUIVAl.EN15, MGWNING OflilE YEAR.. 53 24.709 35,335 CASil AND CASil LQUIVAl.ENIS, END Of TIIE VEAR. 5 9,791 5 53 5 24,709 SW notes to financialstatettuitts. 1 21
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1. SUMhlARY OF SIGNIHCANT Depreciation and Amortization - Depreciation is computed on the ACCOUNTING l'01.lCIl3 straight-line basis at rates based on the estimated useful lives of the Organization and flusiness The Omaha Public Power District, a pohti. various classes of property. The District has performed an asset evalua-cahuldivision of the State of Nebraska, is a public utility engaged solely tion which identified potentially stranded generation equipment .
hi the generation, trammission, and distribution of electric power and in a competitive erwironment. This assessment continues to be energy and other relat(d activities. The floard of Directors is authorized refined based on current information and forecasts. As a result of this to establish rates. The District is not liable for ftsleral and State income evaluation, the District's Board of Dinctors approved additional depre
6 or ad valorem taxes on pmperty; however, payments in lieu of taxes are clation expense of $19,(XX),(XX) and $10,(XX),(XX) for the years ended made to various kul govemments. December 31,1997, and 1996, resgttively. Depreciation expense has aver gul approximately 4.5%,3.8% and 3.3% of depreciable property liasis of Accounting The accounting records of the District are main-f r the years ended December 31,1997,1996 and 1995, respectively.
talnul generally in accordance with financial Accounting Standards, Gowmment Accounting Standards and the Uniform System of Amortization of nuclear fuel is based upon the cost thereof, which is 4 Accounts prescrikt! by the federal Energy Regulatory Commission. pro-rated by fuel assembiy in accordance with the thermal energy that
## ""#* E" The Govemmental Accounting Standards lloard inued Statement No. 31, Anwnting an.I financiallaporting for Certain Imtstmenu and for Accrued Production Costs - Accrued production costs account for EttcmalImystmcrit Pmh (G AS No. 31), whkh requires the District to advance collections subject to refund under the Fuel and Pnxluction report certain investments at fair value. The District adopted GAS No. 31 Cost Adjustment (FPA) clause of the District's rate schedules. During during 1997, thereby changing net eamings by 5581,(XX), (5866,(XX)) 1995, the District approved a $10,(XX),(XX) refund to its customers, and 55,C8.(XX) for 1997,1996 and 1995, respatively. All financial which was applied through the fuel and Production Cost Adjustment.
statements presented have been restated to apply this method This refund reduced operating revenues and net earnings by $3,800,(XX) retroactively, lleginning accumulated eamings reinvested in the and 56,2(X),(XX) for 1996 and 1995, respectively. The District eliminated business as of January 1,1995, was decreased by 54,357,(NX) to the fPA clausein April 1997. reflect implementation of this statement.The District reports U.S. Deferred Charges - Certain costs and charges are deferred and Treasury and agency obligations that have a remaining maturity amortized over the period that ratepayers are expected to benefit. at time of purchase of one year or less at amortized cost. The most significant items are: Accounting for Revenues - Aleters are read and bills are rendent! on Deferred Financing Costs Debt discount and expense and a cycle hash. Revenues camal after meters are read are estimated and amortizable charges relating to debt issuance are amortized accrued as unbilkd revenues at the end of each accounting period, ratably over the lives of the related issues to which they pertain. The District's accounting policy prior to 1997 was to ncord interchange Safety Enhancement Program (SEP)- Fort Calhoun Station - , Certain costs arising from the District's SEP at the fort Calhoun sales as a cntiit to pnxiuction expense. In 1997, the District changed its clawification of interchange sales to revenue. This reclassification was Station were fully amortized at December 31,1997.
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l made to comply with a clarification on the recording of interchange Federal Enrichment Facility Decommissioning and sales and had no effect on net eamings. hior year amounts have been Decontamination Costs - Costs arising from the Energy Polig reclanified to account for this change. Act of 1992's funding mandate for the decommissioning and Cash and Cash Equivalents - for purposes of the Statements of Cash decontamination of federal enrichment facilities have been fkms, the District considers highly liquid investments of the Revenue deferred and are being amortized over fifteen years through 2006. Fund purchased with a maturity of three months or less to be cash low.Eevel Radioactive Waste Site Development - This includes Mluivalents. costs for the District's share of the cost to locate, license and Utility Plant The costs of property additions, replacements of units of develop a disposal site for low-level radioactive waste. The property, and trtterments are charged to ekctric plant. hiaintenance District will commence amortization of these costs when the and replacements of minor items are charged to operating expenses. development's statusis finalized. Costs of depreciable units of ekctric plant retired are eliminated from Nuclear Fuel Disposal Costs - Permanent disposal of spent nuclear fuel electric plant accounts by charges, less salvage plus removal expenses, is the responsibility of the Federal Govemment under an agreement - to the accumulated depreciation account. ententi into with the United States Department of Energy (DOE). An allowance for funds used, appnnimating the District's current cost Under the agreement, the District is subject to a fee of one mill per net of financing electric plant constmetion and the purchase of nuclear kilowatt-hour generated and sold on all nuclear energy generation, fuel, is capitalized as a component of the cost of the utility plant. This which is paid quarterly to the DOE. The spent nuclear fuel disposal allowance was computal at 4DN,4.3% and 4.5% for both construction costs are included in the District's nuclear fuel amortization and are work in progress and nuclear fuel for the years en&d December 31, colkcted from customers as part of fuel costs. In July 1996, the U.S. 1997,1996 and 1995, respectively. Court of Appeals confirmed DOE's statutory obligation to accept spent fuel by 1998. O
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Ln,a--am , an .- w a~uw.~ u q R & ,R "~ a- . s + + . ~ ~ . - -, - .ua .w 1 Nudear Decommissioning - Ee District's lloard of Directors has At December 31,1997 and 1996, the following ikctric System Revenue approved the collution of nuclear decommissioning costs based on an Bonds were also legally defeasul: 1973,1986 Series A,1989 Series A, indepndent engineering study of the ses to decommission the Fort and 1992 Series A. Such bonds are funded by Govemment vrurities
. . Calhoun Station - Unit No.1. The decommissionbytimates accepted deposited by the District in irrevocable escrow accounts. Accordingly, by the District's hoard of Directors (which exceed the Nuclee the bonds and the related Government securities escrow accounts have Regulatory Commission's minimum funding ntjuirements) for 1997 been removed from the District's balance sheets.
6,4 total 5402,800,(xx)in 1997 dollars and for 1996, 5378,200,00(lin 1996 Electric Revenue Notes - Commercial Paper Series - The District has dollars (see Note 3). authorized the issuance of tax-exempt commercial paper of up to Use of Estimates The preparation of financial statements in conformi- 550,(XX),(XX) at December 31,1997 and 1996, which is supportal by a ty with generally accepted accounting principles raluires management cndit agreement which expires in July 1998. At December 31,1997 and to make estimates and assumptions that affect the reported amounts 1996, the District had 550,(XX),000 of commercial paper issued and out-of assets and liabilities and disclosure of contingent assets and liabilities standing. The average borrowing rates at December 31,1997 and 1996, at the date of the financial statements and the reported amounts of were 3.8% and 3.5%, res;wctively. f.ffective february 1998, the District revenues and expenses during the reporting jeriod. Actual results could extended the cadit agreement to Iebruary 2001. differ from those estimates. Electric Revenue Notes - Minibonds - The Minibonds at December 31, Reclassifications - Certain amounts in the prior year's financial state- 1997 and 1996, consist of current interest 4) earing and capital apprecia-ments have been nilassified to conform with the 1997 presentation. tion Minibonds, which are payable on a parity with the District's Hectric Revenue Notes - Commercial Paper Series, both of which are
2. EONG-TElBI DEHT d"c'r 31 The Distrid utilizes procuds of debt issues primarily in financing its 1997 1996 construction program.
(thousands) 1:la tric System Revenue ikmds - Maturities of Dectric System 1992 Minibonds, due 2007 (6DE) 5 9,722 5 9,759 j l evenue ikmds outstandmg at Duember 31,1997, due 1998 through JX)2, are as follows (in thousands): 1993 M nibonds, due 2(X)8 (5.35%) 9,770 9,839 1994 Minibonds, due 2009 (5.95%) 9,885, 9,934 1998 ... . . 548,310 1999. . . . . . 549,590 " ' 2(NN) . . . 551,660 Subordinated Obligation The subordinated obligation is payable in 2001. . . 553,080 annual installments of $481,815, including interest, through 2014. 2002.. . . 534,780 lair Value Disclosure - The estimated fair value amounts were deter-In Iebruary 1997, the District issued $80,(XXMXX)of 1997 Series A mined using rates that are currently available for issuance of debt with Dectric System Revenue Bonds. The proceeds were used for s mdar credit ratings and maturities. As market interest rates dechne in previously incurnd construction expenditures, relation to the issuer's outstanding debt, the fair value of outstanding debt financial instruments with fixed interest rates and maturit es wdl The District's bond indenture prmides for certa.m restrictions, the most tend to rise. Converseh', as market interest rates increase, the fair value significant of which are: of outstanding debt fin'ancial instruments will tend to decline. Iair Additional bonds may not be issued unless estimated net receipts value will normally approximate carrying amount as the debt financial tas definah for eac h future year will equal or exceed 1.4 times the instrument nears its maturity date. The use of different market debt service on all bonds outstanding, including the additional assumptions may have an effect on the estimated fair value amount. tmnds being issued or to be issued in the case of a power plant Accordingly, the estimates presented herein are not necessarily (as defined) lring financed in increments. indicative of the amount that bondholders could realize in a current in any three-year period, at least 7-1/2% of general business market exchange.
, income (as defined) must be spent for replacements, renewals, The aggregate carrying amount and fair value of the District's long-term or additions to the ekctric system. Any deficiency is to be spent debt, including current portion, were as follows at December 31,1997 within two years thereafter for such purposes or, if not so spent, and 1996: . is to be uwd for bond retirements in advance of maturity.
1997 1996 in Decemter 1996, the District legally defeasd the outstanding Carning Fair Carrying lair 1992 Series B ikctric System Revenue Serial and Term Bonds by Amount Value Amount Value placing securities with a carrying amount of $160,765,(KX)in (thousands) irrevmable escrow accounts to be used solely for satisfying schedukd
$897,353 5937,276 5844,770 5855,774 payments of principalandinterest.
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3. SPECIAL PURPOSE 1:UNDS 4. DEPOSITS AND INVESTMENTS Special purpose funds of the District are as folknvs: Bank Deposits -The District's bank deposits at December 31,1997 and The Comimetion Fund is to be uwd for capital improvements, 1996, were entirely insured or collateralized with securities held by the additions and betterments to and extensions of the District's chttric thstrict or by its agent in the District's name. .
system, or for payment of principal and interest on ikctric System investments The Dktrict's cash equivalents and investments Revenue Bonds. included in the Construction Fund, ikctric System Revenue Bond Fund, Segregated funds, Decommissioning Funds and the Revenue N The f.lectric System Revenue lkind Fend is to be used for the retirement of term and serial bonds and the payment of the related interest. Fund are held by the District's agents in the District's name in accordance with the District's bond covenants and State statutes. The Segregated funds represent assets held for payment of customer The District does not invest in securities such as mortgage-backed deposits, refundable advances, certain other liabilities or refunds and funds set aside as part of the District's self insured health insurance investments and reverse repurchase agreements. The investments plans hee Note 8). The balances of the funds at December 31 were as consist of U.S. Govemment and Agency securities and Repurchase follows: Agreements collateralized by U.S. Govemment Securities. Fair values 1997 1996 were determined based upon quotes received from the trustees' market (thousands) evaluation service. Segregated funds customers 57,2N 5 6,760 Segregated Funds-self insurance 4,227 3,676
5. DEFERRED CHARGES Total Segregated Funds $11,431 510,436 The composition of deferred charges at December 31,1997 and 1996, was as follows-1he Segregated Fund Collateralized Securities represents investments 1997 1996 in short-term securities (generally, repurchase agreements collateralized (thousands) by Government securities) as permitted by State statute. Deferred financing costs 5 40,542 5 43,260 The lkrommissioning funds are utilized to account for the investments held to fund the estimated cost of decommissioning Safety Fnhancement Program-Fort Calhoun Station (see Note 1) - 6,410 Fort Calhoun Station - Unit No. I when its operating license is scheduled to expire.1he Decommissioning f unds are held by outside Federalenrichment facility trustees in comphance with the decommissionmg funding plans .
ap voved by the District's Board of Directors (see Note 1). The t i a ion cos s 11,829 12,858 ba ances of the funds at Decemter 31 were as follows: 1997 1996 inw-level radioactive waste site development 11,083 10,081 (thousands) Decommissioning Trust- 1990 Plan $110,745 595,829 other 23,150 15,685 j Decommissioning Trust- 1992 Plan 20,834 17,422 Totals 5 86,604 5 88.294 Total thrommissioning Funds $131,579 5113,251 i The Deferred Compensation Fund is valued at market value and is used to account for employee and District contributions and related earnings l pursuant to the Distrkts Supplemental Retirement Savings Plan (see Note 7).
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6. PENSION PLAN 8. SELF-INSURANCE HEALTH PROGRAM Substantially all employees of the District are covered by a single- 1he District's Administrative Service Only (ASO) licalth Insurance employer defined benefit plan (the " Plan") which provides retirement Program was used to account for the health insurance claims of all

.and death benefits.1he Plan was established, and may be amended, active and retired employees in 1997, in 1996, approximately 55% of under the dinction of the District's Board of Diredors. Cost of-living active and retired employees participated in the ASO program with the adjustments are provided to retirees and beneficiaries at the discretion remainder participating in a health plan for which the District was not 00f the Boatd of Directors.1he District adopted the provisions of self insured. Substantially all employees in 1995 participated in the ASO G(wernmental Acnunting Standard No. 27, Accountingforknsions by program. With respect to the ASO program, reserves sufficient to satisfy State and1. oral Garn, mental Emploprs, for its financial statements effec- both statutory and District directed requirements have been established tive January 1,1996.1he adoption had no material effect on the finan- to provide risk protection. Additionally, private insurance covering cialstatements. clairns in excess of 120E of expected levels, as attuarially determined, lhe Plan information, based on the actuarial valuation on January 1, has been purci,ased. Actual net claim payments during 1997,1996 and was: 1995 were 512,749,000,57,900,000 and $10,102,800, respectively,
%,gg which did not exceed 120% of the expected claims level.
l Attuarial Attuarial city Mt. as a i blur of Anrued Iunded funded Oncred Percentagr of 1 A ts IMiht (MI) Ai Ita l'a H I H ' WMMHMBM uhouunds) (thouundo The District's Construction Budget provides for expenditures of 1997 $411,366 5290,083 5121,283' 141.8 % $101,740 115.8 % approximately 5105,005,000 during 1998 and $54,354,(XX) during 1996 $W0,642 - $273,080 $117,562 143.1% $103,117 114m, later years, of which approximately 54,900,000 was under contract at December 31,1997. Contribution raluirements are actuarially determined, using the lhe District has coal supply contracts which extend through 1998 Attainal Age (level percent of pay) Method. Employees contribute with minimum future payments of $10,545,000. The District also 4RA of their covered pay to the Plan.1he District is obligated to con- has a coal transportation contract with minimum future payments I tribute the balance of the funds nenini on an actuarially detennined of $22,675,000. These contracts are sulvet to price escalation basis. For both 1997 and 1996, there was no annual pension cost, net adjustments. pension obligation or District contribution made to the Plan. Plan Contracts with estimated future payments of $15,795,(XX) are in effect contributions by District employees for 1997 and 1996 were 54,190,(XX) for nuclear fuel. In addition, at December 31,1997, the District was and $4,124,700, respectively. The actuarlal liability was determmal under contract in the amount of $22,164,000 for the cost of fumishing using an assumal discount rate of 7.25%. The expected rate of retum uranium enrichment services. on aswts was 9.0%. An average annual rate of compensation increase of 5.0% was assumed. No annual increase was assumni for post retirement benefits.
7. SUPPLEMENTAL RETIREMENT SAVINGS PLAN 1he District has established a Supplemental Retirement Savings Plan for all eligible em 31oyees that allows contributions by employees that are partially matc *d by the District. By agreement, contributions and related camings under the Plan remain the property of the District until an employee leaves the District. The District's matching share of contributions in 1997,1996 and 1995, was 54,073,000, 53,546,(XX) and 52,951,0(X), respectively. )
"xently enacted Federallaw requires that prior tojanuary 1,1999, . J1 deferred compensation plan assets and income be held in an external trust account in the employee's name.1he District transferred the assets to a trustee in Octoler 1997. The amount transferral,
5115,590,(XX), was removed from the District's balance sheet. '
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10. CONTINGENT LIAlllLITIES 11. STORM DAMAGE <
Effective August 20,1993, the Price-Anderson Act was amended. Under in October 1997, the District incurred significant damage to its the provisions of the Ad, the District and all other licensed nuclear electrical distribution system as a result of an early season snowstonn. [wwer plant operators could each be assessed for claims in the event of Total damage approximated $12,(XX),(XX). The District applied for . i a nuclear incident in amounts not to exceed a total of $79,275,(XX) per federal disaster assistance funds for repair and replacement of the ] reactor per incident with a maximum of $ 10JXX)JXX) per incident in disaster damaged facilities. The District has been approved for federal any one calendar year.1hese amounts are subject to adjustment every disaster assistance and received $2,8(X),(XX) during 1997 from the N.e five years in accordance with the Consumer Price Index. Ihleral Emergency Management Agency. At December 31,1997, the The District is engaged in routine litigation incidental to the conduct Distrid has recorded $4,2(X),(XX)in an account receivable based on of its business and, in the opinion of its General Counsel, the preliminary estimates and anticipates recovery of additional costs aggregate amounM recoverable from or to the District, taking into when the final covered costs are approved. Estimated unrecoverable account estimated amounts provided in the financial statements and costs were charged to various maintenance and capital accounts. insurance coverage, are not material. I i i e o
g o g; , g m; <
,1 < N' h - .. / f < I-silopthe Hve Years Ended December 31E1997C(Umndant)f: e. -
en rawmcm w nweimwuawwan.usweu,hwawais.suammn w w m wa2 . . . 1997 1996 1995 1994 1993 (thousand4 Operating nvenues . . 5483,953 $453,522 5435,347 $409,696 $402,360
, Operation and maintenance expenses... 291,449 283,748 267,571 235,596 231,930 Paymentsin lieu of tans - . 16,447 15,499 15,263 _ 15,515 15,104 V Net operating revenues . . . . . . .. 176,057 154,275 152,513 158,585 155,326 investment income (1) . . . . .. 2,609 2,846 2,915 2,380 3,019 Net wceipts - $178,666 5157,121 5155,428 $160,965 5158,345 f
Total debt senice(2) . . . . . . . . . . . 587,437 5 71,637 $ 78,229 5 77,017 5 78,435 Debt senice coverage . . 2.31 2.19 1.98 2.08 2.01 n) locome derived from the inmtment of monep in the Enerve Auount of the l'atnc system Revenue ikind f und under the thstnct's txind indenture (Resolution No.17ML (2) Iotal let sente for Remlution No.17M Ikinds is amued on a calendar-year tus similar to the computation of Net Racipts. l Internt funded from fxind pnueds is not indudal in Total Debt Scruce. i l 1 1 l 4 27
.l. . > M .. .. . m l1 (YElectric System Revenue Bonds. Outstanding ' y . ~ ~
UhlhasLmds)mM&c&3b1Lu.a x.- a.~ a .- . - L~ a .-.z x ~ t - .. .
.e p ' .A t :;1993 ISSUE? j 1993 ISSUE 4 L1993ISSUEL:
{p SERIESAf
] SERIES 11 [, SERIES C, < .w wj i Maturity ..e_ d4 7#h Date p) itat.% - tre Int. 0:. ,^ jnt.?
februarya yf Ratef n ' LAsti d Rate Amt. b v - Rate AmtM
- , y:n ,w 1998 M@ 4.45; 19,0004 d '
4.35 7,510 p h [ 1999 V, 4.65? 912,0401 4.55 4,980 200() % 4.851 pf13,760: ~: 4.70 4,540 2001 !? ? 5.00 ~' T14,520' i 4.80 4,620 , s. 2002 k 5.00: , :15,4301, 1 4.90 4,700 p i%, 216,140; 5.00 6,340 tf'Q*1-. 2003 p ? 5.10; a b 2004 i5.25 ' .18,220 1 5.00 4,670 . - 2005 2006 h[ [ :5.40; [5.30 ,
, L 18,780 L J20,1501 f h 5.10 5.20 5,710 5,710 ~~
{E 2007 p i5.50 L 21,330 - @j 5.30 6,230 t - b $hs-t , p ~ . 2008 7 i 5.40 9,340 a 5.40" 113,230 g ( 4 15.40 2009 ,
q. j 5.60* 9,340 114,020 2010 , j{ 5.60* 9,340 p 5.50
' ;14,860 2011 j 5.60* 8,300 p:}5.50* ! 15,750 ... ,
2012 , j 5.60* 8,300 [ , 5.50* [ 16,700E p , 3 . i
~
2013 e ' 5.70* 7,260 g5'.50*f 17,700 ? 2014 ,. (j $ 5.70* 7,260 . . ' ' 5.50* ? y L 18,'7701 2015 by dj 5.70* 7,260 W 150*f 5 '1 19
,890 1 2016 L j 5.70* 7,260 TS.50* L21,086 .
2017 0 5.70* 5,600 ,
. 5.50* @ 2'2,360 if.
r. 4; , 3 g Total l h g*, . . 'y W
[ 134,270 :174,360; Outstanding 159,370 o '
+
llonds i t Redeemed M;T l b to 12/31/97 . L 25,330. j 29,930 h Y. Original . Issue : 18.4,7002 1 164,200 t -174,3601, t.
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'lerm ik>nds The 193 Iwue was ddcawd to matunty wnh final matunty on February 1. 2m3. The 1986 knes A hsue was detcawd to maturty with f:nal matunty on f ebruary 1,2015.
T he 1%9 kria A Iwue was ads ante refunded and will be talkd on February 1,2m The 1942 senn ( Iwuc was advance refunded and wul be calkd on February 1. 2W2. C
up s-
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Gidd NeixbSiiN w.saw&kut k O AAdhu $ d th NO%2'Y200A M Gdi.L).9.uildhk$kN AS&A u ad bod:E0$s0NsiuAS%.4&A
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1993 ISSUE SERIES I)
%.., o..;
a PMEb #ji1 319955UE 1997 ISSUE SERIES A i e e' /
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Amt.
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Amt. O !Debti,.f f Rate {W , , K g Rate {B6steggy.1 .
$slidae - . . . .. ~ , ..
4.10 4,680 , 23s95). J ,1 5 ; i 3.75 20,0(X) 0 A330Mn n.~ .B (Ellef m 4.25 5,060 g 74W,57A10L/ 4.05 20,000 l?#,590j f (4,1d h b $ y 5,440 4.40 4.50 5,580 [4 M '4,369 ' b 4.30 5.00 20,000 20,000 [. $14 tid
#d472034} j$7${
i47BJ ilw 4.60 5,830 f( T438[! $83 }
' 5&GODEj~
3435 W48,294
. . ., ,,s .
y c.~,.. a 4.70 6,080 gyd.% y 9,33( j 937,999j 1 ,4 390 f 4.75 6,960 ' 14.50s,%;9ANi f 4 46M; MfWS.L n 4.80 7,110 J.$0M10,860) d ? ;4.1,9604
/'S S 730 9 4.90 7,280 414A0! M95 ,
40@ q 5.00 10,080 % %> 1g M.;44,02' 314001 M ' 54406 3
n. c._ -*~> d 5.10 11,000 D33,5E ,53A66 ' d 5.25*
5.25* 11,430 11,970 b' rm' W*~ , " gg W[M ' i [
'W' ]34,790j
236,1210
.f5&961]
w -% > 51,54. 5,q-t 1 g5+
~
5.25* 12,590 "36,640 " ; . 751,mpf il 5.25* 13,270 k' g" . ?, d94 g t y IM
, 4. 2.4h V L49,775?,;) . '+^ s v. . .. -m 5.25* 13,990 g d S 4 950! ' T.49,373 9 5.30* 14,730 ' Nb n'i!! D 40,760? $#,056)d 5.30* 15,520 Y'7 J, '
d . K42,6Mi $49,451% 1 5.30* 17,120 ' 3 Ij45,M ' 1 31,1741 ] g9; d [3; ?27,96,0;
L2,459;')4
~ > >
Q - y
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l:G , ,
'_ :p > .- "O \ ,,..3 0
185,720 y iR140( qn-80,000
?813,860?-wn!,g,3,877f 16 g,
3 , . v r ffU;- w f-y :w Q'd,y:$
< 8 r -? ; ': >f +
g .g _g 16,680 h4m i .- (34,960) @q h y: . v,9We, ' d. . . gy.d, e . k g. . .
' 7 y @ < ;$a c
bc:h. .,% g ga 2 q r , 202,400 L L (10Q00M 80,000 ' f 910,760) s - %g M,1- ' ..g s
$. b @g 4" l9 < ~
j g, 4

. ':l G1 3 g The IW2 % 11 hsue was defeawd to nutunty with fi

% b ; f*l . , .ef. 's > . . ', , W' "f W,997M1996 Comy Y,#im; - h1 ~ e. AubYubiN$$$$O nob Niun$uwassu00m.ku.xmaanddhnus&G.Abibu 484.0 OPERATING REVENUES milhons ufddlan 435,3 (thousands) 402.4 s r ie,ceni 382.0 perceni of "75.6 Y" "' Y" 1"*** Llassifkation IW7 Totai 1996 (Decreawl , Raidental.. 5183,178 37.9 5170,021 7.7 322.1 Generai wnxe.sman is7,4a 32.5 150,388 u, .; General 5enxe.large 7n 806 15 9 75,016 2.4 9 . !' Gmemment and Munic pal ...... 11,356 2.3 10,937 3.8 Other Ikttnc Utdihes 44,484 9.2 39,908 11.5 Accrued Unbilled Roenues. 1,554 0.3 (1611 - Totat uertnc Raenues $474,784 98.1 5446,1(n 6.4 1987 '1999- 1991 1993 1995 1997 Mnceitaneous Revenun. 9.i69 i.9 7,413 23.7 lotal 0perating Revenues. 14 % 953 IfnD 5453,522 6.7 millions uflilowatt hours 10,585 g , (thousands) 6,879 classifkation } 6,859 6,628 Rnidentiai.. 2,688,9si 25 4 2,577,624 4.3 General 5ervke 5 man- 2.894.595 27.3 2,787,471 38 Generalsenite large.. 2,323,253 22.0 2,305,328 0.8 Govemment and Municipal... 79,572 0.8 78,710 1.1 Other Electric Utihties -. 2,544,5(* 24 0 2,492,385 2.1 1987 1989 1991 1993 19 % 1997 Aarued UnbdW Mlowanamn.- Su22 0.5 7.3s8 - Total Energv 5 ales... 10,5 % I01 100 0 10,248,876 3.3 291.4 rnilliorts ofdollars 267.6 OPERATION AND 246.2 237.2 231.9 MAINTENANCE EXPENSES (thouunds) ) classification 193.2 Generating Expeme 5182,640 62.7 51h8,127 (2.9) Purchased and interchanged Power. . 33,969 11.6 25.201 34.8 Transmnsion and Distnbution 37,649 12.9 35,739 5.3 Customer Accounts 12,416 4.3 11,018 12.7 1987 1989 1991 1993 1995 1997 customer senice and information... 4.834 1.7 4,394 10.0 Adnunistrative and General 19,941 6.8 19.269 3.5 Total Operatkm and 276.9 uaintenance upenses. 529i.449 icnD $283748 2.7 tinturn.ls ofatstornas . 259.5
I AVERAGE NL"LillER 252.4 0F CUSTOMERS

245.2 .
238.5 ciassirication Residential 241,626 87.3 237,584 1.7 ~ General senice-Small -- 33,993 34.555 12.5 1.7 GeneralService. large 99 99 Other. 587 0.2 589 (0.3 p Amage cmtonwn. 276w,7 uno 272.265 1.7 1987 1989 1991 1993 1995 1997 %rr,ty ToulTwehr hths Enkdlkmt!vr w + t Electric Statistics L < V. . - - - _, ~ . _ - .. ~ _ . .~ _ , . . ~ u 1997 1996 1995 1994 1993 1992 1991 1990 1989 1988 Total l'tihty Plant, indudmg Nudeer Iuel tat yar mb (m tinwwal, of adlanL 2,360,495 2.109,711 2.211611 2,188.1(W, 2,111,562 2,050.316 1.986.679 1.897,546 1.824,757 1,715,654 Ilondts!Indebtistnew tat yar mh dn thouwah ol ddLnl... 813No 761,020 947,190 974.510 998Jk,0 998.950 891.725 911,265 928 / 15 845,595 e/ O[rrating Reunun un Ilk 4twth'i of ddlanI Reudentui .. 181,178 170.021 171,687 165.811 Ifdl 499 141,992 154.215 iS2,4M 146,458 137,105 Generalfe n ite 4 mal 157,406 150,388 145fD6 147,669 144,112 135,262 115.059 115,774 114,821 117,711 General %1 rite large.. 76.806 75.016 71,'195 75.481 77.760 75,992 76,222 78.375 72.416 61.637 Government and Munu ipal , 11,356 10.917 8,577 10.626 10,505 10.186 9.651 9A85 8,417 7,061 Other I.lettrk l'tthtas.. 44.484 39,908 29,170 4.211 3.673 3.046 3JN5 3,824 5.825 20,592 A(rrued l'nbilhtl Revenuet 1,554 (161) m (279) (281! 1,158 (1,654) 1,015 2.753 874 Mm ellaneous .. 9,169 7,411 6.424 6,171 5,904 5,477 5,371 5,511 4,951 4.957 lotal .. 481,951 451,522 455,347 409,696 402,360 37.1,113 381,959 386.648 375 M I 350,817 O[rration h Maintenante l A[rmn Lharged to Operatiom dn tInynamh olddlani .. 291.449 281.748 267,571 215,596 211,950 226.0n1 217,250 241,409 246.204 214 701 Payments in 1.ieu of lam Un finowruh ol d dlanl. . 16,447 15.499 15.263 15.515 15,104 14.924 14.159 14.370 11,817 12,158 Net Ogrrating Rnenun Irfore Ik pretlation and Iktonuniuioning du tlannanih n/ ddlanL 176,057 154.275 152,511 158,585 155.126 133,126 150,370 130,869 115,622 123,776 Net i.arnings Reinmted in the Ilmincu un finmwthh v/ddianL 47,152 19,i19 47,815 52.I I5 4i,201 30,255 35,2(N 40,337 29,584 36,929 kilowatt Ilout 5.dn titt th<mnkhl Residentui .. 2 A88,951 2,577.624 2,571.881 2.467,405 2,361.565 2.139,300 2,411,265 2,292.975 2,246,496 2.311,242 General sen ice . small... 2,894.595 2,787,471 2.657,948 2,580.258 2,434,023 2,355.409 2.372.148 2,275,M7 23 4856 2,246,353 General senu . large.. .. 2,321.253 2.305,328 2.124,021 1,430.664 1,Ki3.975 1,858,243 1.849,141 1,811,615 1,713,362 1.655# 0 Government and Munitipal . 79,572 79,742 80,406 80,731 79,087 78,514 77,215 78.710 81.081 76.131 Other I.lis1rk l?tilitits.. 2,544.508 2,492,185 1,855,154 177,489 151.346 138.862 153,669 137,166 44,935 961,298 Aurued linbdled Kilowatt 41oun .. 54.222 7,158 21,161 7,707 14,676) 18,852 126,1211 6.695 29,914 17,010 T otal .. 10,585,101 10.248.87h 9,411,899 7,244.429 6,879,364 6,591,377 6.859,187 6.622,632 6.416,778 7,267,616 Numl:er of( mtomen tsnerayp yarl Rnidentut .. 241,626 217,584 2.I't.k79 210,391 227,181 224,107 221.214 218.371 215.194 212 124 General 5en-Ite . Small. . 34,555 31491 31.117 32,418 31,685 31.259 30,626 30.117 29,449 28,731 General Nen ice . large.. 99 99 97 95 94 42 91 90 75 75 Gosernment and Municiful . 551 555 542 516 501 497 491 475 457 411 Other llettnc t'tihties... 36 34 il 7 5 5 5 5 4 5 lotal .. 276,867 272.265 2n7,686 261,447 259.468 255,9n0 252,427 249.0h0 245.169 241,568 Raidential Statistin (.ntTg ) LWh tustomet... 11,129 10.849 10,997 10,710 10.395 9.546 10.991 10,9 0 10,419 10.885 l)ollar Revenue / Customer,. 758.11 715 62 714 08 71930 70n 41 633.59 697.13 698.18 680.59 M5 73 Cents /kWh .. 6.81 6.65 636 632 6 80 6.64 6.34 6.o5 6.52 5.91 Generating Capability , tat mu mh lin kihmatto.. 2,067,0t 0 2Dil,lm 1.924.2m 1.924.2m 1,924.200 1.883.5m 1.881,.100 1,867,200 1,867.900 1,823,000 System Peak Icads dn AihvatN... 1,8513 0 1,813.900 1.827,900 1 A45,900 1,ful,lIO l.442jN10 1,605,900 1,652,100 1,597,1N O 1,600,400 l Net System Requirt1nents I (Likwa !.lkon in llumnuhl Generated .. 9,698.231 9,2to.923 9.0'3,408 8,876,535 8.846.354 7,653,49n 9.129.971 7,721,410 7,202.585 7,756,360 Purchawd and Net Interchanged .. (1,281.496) (1,tNn,94N (1,2mkl 76 (1,418,644) 11.697.288) (844.178i (2D18,9801 (864.4 111 (426,249# (1.050.747) Net.., 8,416,735 8,161,927 7.8h7,151 7.457,841 7,149Dh6 6.k09,318 73M)491 6.8 % 479 6,770,286 6,705.611 < mmtagalw v. 4 4 n gpspu bMk%$k)e- g'p A c vig ; .j
h. h ;
.V @t .v W,, ,>ee-c '@ sw% m _. N. P. Dodge Jr. Kenneth S. Fielding Q y Vice ttesucit ml*lw W. q p.W Epm nky ,_y Chairman of thelkurd a p 4.e;p qmpx -k. a f R 4, MichaelJ.Cavanaugh y spWu%wW - M,e;w W %,. GaU.' Gates Aw :1 p MW. . viceChairmanuf thektrd \ ,s.ce Prndent . $$s@4g%w$ p Geoffrey C. Hall Mbdj%a%+1'] mm&fm e - C dd d Treasurer Dayton D. Wittke, Ph.D. VKelYe5d.dll ?u$:cgjgp,hMpy;Q@g* s yL)4 g$M'Q Anne L McGuire D 56TelJry p5 c:%vge%yg Mr t Charles P. Moriarty 3g- wehw i y h ,4 s Asm. tant Tremurt" A'W w > wgv<&maho .f r f.red M Petersen Assu. t ait Secre'ary 6 m hesd.ait 'hh Q.,n#g?'y .9 Chiefbecutiw Officer 4D,M CarolJ. Kehey 6M(&@m;M.i%g? fY #NM@&!?QS g d, Eldon C. Pape hwitiw Vice PrniJait-Assistant Secretary AWu N3:3%W. AyQ Q Chief Financia.' and Planning Officer ggggg9ly9 g 3eep}g $O w;;g Anistant Treasurer Am.stantSaTetary & @4 s,s$m&lly y Q nAssistant 9 g"v SaTetary n ~SM/ 'M6N, mw N & %,illiam L, Jones MichaelJ. Czerwinski Aun. tant Treasurer ..g%% c % -Q @q.da,3>1%y$n&g. i m .e y ; q ,4: 6-v $n . L- Salior \.. Ke lye 5d.Q11 prMS km y+':f %xgnw p@R u Q:c; n Q;'y?}9; u-M;o C 3 e c. .fimothyJ. Burke \,KelYesd.dli Richard C.Shaneyfelt Asm. tant Treasurer %f o, >w :fq;g;t q % 90 w. .gg,.g .wa P S g/M %a m# + W,illiam D. Dermyer Timothy R.Vasquez mr. ;mquw \..ke hnMort Assn. tant Treasurer 's cWW ?M. 4 e@ rWJ n M w a p;u @ &r? A }{Uf. bhp %y)-Qf e fG ' ..) ,~ ?_g^ >\ LiL ' ) 5, ' lQ -G - s yx - <,N, ',l* bll:a .j. 5'y q. . ' :j i' [K s . G ,' 4_kg q fj. r w lf , y .,h.'WNHQ r $l 2Wj k' fM ' % \ g g < u ,Vef yt,L ?, Qp j, y, a N _'k?_"4" q '3' Jg "s7, y,. , z - ,)., Q_j p hvisL p.,OL7. )g{ l* G5 M; [. . ?. .. 4"',.{ ff h, Y f, ' -q, . i .$ vf, ;. i 9, 5- <C-y f e, .i f k' d $ r.; k;n..Qy:.~ g~ Q, e}ly o g. m sw y /w ^;Q L %~ f.i 'g ORM'Qg[$;fl hk h +, _ Q.T / " A; l m gia n;]- } J'% i3 m ,r. p s , wtM'" H ',f n ., . j ., i i l - l ll . i 's y' f. , r,:,, . h _-- + _[ .,4, h}~s: Q 5 -i . k.hllA r pfMpij pagqqq
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~ ' yM, 14 N, o ;g&L w e service Area Jf 1 ^ " h e - g u e 33Q@ 4 o __ ,_ Nebraska, an ama WI"8 q;{gjyggnamnes * ; [ ,f; @pM_ ,1, 3;; 3 teiais s3m square m,let omys headqua"en ts i gar 9 4 P 4,4w 8"" ,gy , g_'TQ, ~ $g " 4 yl';d'"$"'%sU. i Op *R ^ C7L ns - na ~ , p- ,g:-~" "' . s piast< seah o mesa s,am,n ana sehra" " stauen. teth caaldir# "d av 9 ,e - j Vs$misa} 17 j a 4 ten Calhoun Station, a nucleat-Po wered P l""t' U EI,# 3 t'3 1 i k I Saunders aw tsarn ""*,E5 ' a- ~ e! , g. c : , t* **'x umA" " strategically Iqated major , j y N 'syvi, centers m ULhern. ? a- , Le M W rg T inington, Omaha, rapulion Ay a umandg 4- 5 k" 7 '* ana sy,,<me. y3 d,N. l 1 m 8@g ,g e j j v.-]%4eg! gg 3 o E 7 ; am.ocated nwa, thein thesave orro 3,ca nas excetient air heart oftp g p myfg,_ s s e ;e 3e,K j< " $ ;9;l,"C""5",,hlanay;ug4Wa**@g@ g p %gsy.g$g$$g g g % ; ]A .#1 g y y 7 r %}gwgggg4&g ' p.g4 jmag 'ti ~ - u nc a ,,,h nynenaeame<en ome -,ne te,s ma" %,L pp4 " i three hours. It has excellent *yya nd gameksp+: - w + 1 1,ungaminnes and eass p 3ecess is two intentate s 1,, 4 t . jg johnson mew. Nb d i +4 3 If highways. The area aise has 3 gg *gggy:g ~~?tMha;4.,i hk ggggy e access de seveal major ran e ' o compmies, as wdl as Lev baqe i i7 nm ,A 2 qqgg y . m; tuminals along the Mimun . Q 9 N%< j e 7 g , ,%%) 3 "M Richardson i s Rlva in Omaha and sevwal 3 othm sa,tasta mes. i j.(g. ;,4 4 4 1~ 1 q i& " mJ use g. 7 , 9 , .g og A #4, x,e a. ~. & g- . m' ' ' n y p p. p.r pn w g 7 e 7,1 , a a 4 g m, m. g y r g _ i h +.a ' jf , j *[ V %%$n;f5*. Q p;;hgyh ,, -} m - n weg r y u-3 *a ,i. .s 3- _ af $ e go .iy &D ' s y- < e ;- ? v, ;; .'/ 3I j 3 1, ,j 1 ff n 5 $ jh] 3 4 : }. c . . a. a y k ,;*
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LIC-98-0048, 1997 Omaha Public Power Districts Annual Rept

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LIC-98-0048, 1997 Omaha Public Power Districts Annual Rept

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