ML20050B922

Annual Financial Rept,1980

ML20050B922
Person / Time
Site:	La Crosse File:Dairyland Power Cooperative icon.png
Issue date:	04/01/1982
From:	DAIRYLAND POWER COOPERATIVE
To:
Shared Package
ML20050B917	List: ML20050B916 ML20050B922
References
NUDOCS 8204070559
Download: ML20050B922 (37)

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--JW Report 1980 i

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c;~ g a gq r< W h y ".,q p C l u ~ J J f ' ~ ' ', t a w_, rb o a ca L, n,_, a wu w 1980 CONTENTS IN REVIEW - = _ - - A President's ETotal operating revenues regis-CGenoa #3, a 350,000 kW coal-4 Message tered a new high of $121,929,548 fired unit, at Genco, Wis., was in while total margins dropped to continuous operation for 195 con-3 Board of $517.232. secutive days before briefly trip-

1. 1 Directors ping off-the-line on April 25, 1980.

T Net cost of electricity delivered to This is a new record for the plant. O General Manager's member cooperatives increased O Beport 31.02 percent to 3.16e per kilowatt-OA boiler accident at the 365,000 hour (kWh). kW John P. Madgett OPM) station at

G 1980 Alma, Wis. on January 12, 1980, iU Operations

~ Power sales to Class A member caused on extended outage for re-cooperatives increased 1.4 percent pairs to the superheater and reheat-O Financial over 1979. Total power sales dc-er sections of the boiler. The unit kO Statements creased 2.6 percent. came back into service on May 17, 1980. ga Notes to ' Project '87 has been delayed due ,Y Fmancial Statements to the slower growth pattern.The fi-3 Construction began on new ser-noncial risks of proceeding with vice center at I,a Crosse, Wis. O@^ Comparative plans for the new 1987 unit was too Sales great. Completed $20,050,000 tax ex-empt municipal bonding for the Ia gr! Statistical iThe selection of the load man-Crosse service center and Alma, a/ Comparative Summary agement equipment has been Wis., off-site ash disposal facili-d made. The installation is expected ties. q (j Consolidated to be completed in late 1982 with aU Cost Information some of the equipment operational CReceived two Rural Electrifica-late in 1981. tion Administration (REA) loans - (Inside Back Cover) $56,738,000 for transmission and Service Area Map $36,935,000 for generation. On the cover L Dairyland Power Cooperative provides electric service to 16l000 consumer-members in parts of Minnesota. Iowa. l Wisconsin and filinois (white area) and an extreme western tip of the upper peninsula of Michigan. These photos show Dairyland Power's generating site NL at Alma. Wis. - two coal-fired steam i \\ \\ stations totaling nearly $72.000 kilo-watts (k W) olcapacity - construction of a transmission substation, work on a 161 kilovolt (kV) transmission line and a typical farm scer.e in the Dalryland Power service area. The farm scene photo is courtesy of Skypir. Printed by Dairyland Power Cooperative

( P A 4 John P. Madgett GPM) station valves (back)at the 365.000 kW supervisorypersonnel are dwarfed coal fired generating station in by the high pressure steam stop Alma. Wis. They are reading the valve (top)and the high pressure hydraulic controlpressure gauge. steam lead to the turbine-generator on the speed governor. ~; t l .j i

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r - eys er n -y . NW GCS#MP C @ d.a O b um umw& u ws m em WWCCQ e.& ispwV@ FMW% v e ,n - =- _ : _ ----- c m Dairyland Power Cooperative But times have changed... and fiscal environment of double digit has never been free of challenges. the change came quickly, too. An inflation and rising capital invest-And perhaps that's the way it unjust " black hat" image has been ment costs continues to prevail. should be, for many noteworthy ad-tagged to the electric power indus-Similar conditions and actions are vancements are most of ten accomp-try by many individuals and prevalent throughout the nation's lished under stress. groups, who fail to acknowledge electric power industry. At least, that's been the hallmark the need for higher gross revenue True, the cost of electric power of Dairyland Power whose achieve-for power suppliers in the wake of has climbed the last couple years ments are indelibly recorded on the double digit inflation and mandat- . but what other energy is still pages of history of our nation's co-ed obligations emanating from a priced near what was paid for its operative rural electrification pro-decade of interpretations of legisla-use in the depths of the Great De-gram... a socio-economic venture tive measures at all levels of go-prec9n? Well, electricity still is. that has contributed immeasurably vernment. It's ironical that the lion's And that's precisely why this in-to an unparalleled national lifes-share of these costly regulations stant energy is still a super bar-tyle as well as to the most efficient were enacted at the insistence of gain. agricultural productivity standard many of these critics who are now Let us remember that with a flipof in the world. vocally opposed to today's prevail-a switch we can: The challenges of the past, how-ing electric rates. e View color television for about ever, appear relatively light when The benefits of logical environ. 50 hours for the priceof apackageof compared to the seemingly intem-mentalrules are not questioned. Af-cigarettes. perate forces that at this time are ter all, our families enjoy the com-

• Utilize a clock radio for nearly threatening to disrupt the orderly forts created by electric power and 120 hours for what it costs to pur-fashion of generating and transmit-an agreeable environment, too. But chase a flashlight battery.

ting electric power to Rural Ameri-o" happy medium" approach is cap-

• Heat 25 gallons of water for the ca.

able of fulfilling that enviable com-cost of a 35 cent sof t drink. This is a difficult period for coop-bination of a healthfulenvironment e Enjoythecomfortsof anaircon-erotive rural electrification. The and a reliable, offordable supply of ditioner throughout an entire Sum-high cost of adequate financing electric energy. In short, a middle-mer for the cost of a pair of medium for capital improvements and ex-of the road route is essential to a priced men's shoes. pansion al facilities - as well as ris-moderating effect on the cost of The future of the traditional pro-ing expenses in all operational electricity. cess for generating and transmit-areas - is adversely offecting the Meanwhile, Dairyland has ting electric energy to the country-stability of the economic structure needed three wholesale power rate side of a large area of the Upper. basic to providing reliable electric increases in the last year and a half Midwest may be temporarily jeo. energy to the countryside. to meet financial requirements. pardized by fiscal impediments, It was only a few years ago that Furthermore, it's likely additional but Dairyland Power is operating electric energy producers were ~the' increases will follow if the present from asolid foundationlaid byrural good guys in white hats." After all, electric partisans nearly a half cen-they were consistently meeting tury ago.This foundation was solid-steady increases in the demand for ified by a cooperative principle that power during an era of stabilized - has stood the test of time. That's' and, yes, even declining - electric member involvement... responsi-rates. ble member involvement. 2

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l o S i f This has been a most interestina A short, delegated joint action on o and rewarding year for me as Presi. ) / common problems leaves more dentof theBoardof Directors.1have time for cooperative management been able to attend many annual to solve local. sues on the home meetings of the rnember cooper-front. atives of Dairyland in this capacity. ation of Managers in this regard. Icommend the Dairyland Associ-I have been impressed with the ob. /-- QM They have spent literally hours and y vrous dedication of the various e b -- - boards of directors, and in the com-h? ? vvW hours working with the Dairyland petence of the cooperatives' staffs. khh / .U lh staff on the complex issues such as it certainly restores one's faith in h jf] ' h rate design, data processing, engi-the cooperative process, the demo-neering activities and marekting Don D. Pehl cratic process if you will, to see how programs and resolved all cooperatives function to meet the these activities to the satisfaction of needs of their member consumers. We are locally-owned, locally-the majority of the managers prior flowever, we need even more in-operated, consumer-oriented elect-to submitting them for final appro-volvement and participation by the ric cooperatives and we should be val to the Dairyland board of direc-member consumers in the af fairs of proud of this fact. There is much to tors. It's a very workable process their cooperatives. This should be be gained by keeping the control of and one in which both the manag-evidenced by better attendance and our cooperatives as close to the ers and the directors have impor-interest at the annual meetings. It member as possible. We gain con-tant roles. seems to me that most of the people siderable operating strength and. Last year - 1980 - was a demand-that are attending are the older rm confident, a great amount of le-ing period at Dairyland Power, but members who appreciate what gislative strength from the f act that there's great optimism about 1981 their cooperative did for them many our cooperatives are home-owned and the remainder of this decade. years ago in bringing theu power. and home-operated local busi-The challenges of the '80s will be Too of ten there is a dearth of the nesses. We should strive to main-met.. met by the paramount coop-younger generation at these annual tain this local independence of our erative rural electrification doctrine meetings. rural electric corporations. of producing electricity at the low-Certainly as our membership is But this % not to say that we est possible cost consistent with changing and as our service area should not ty to do as much jointly good business and engineering becomes suburban in some areas and cooperatively with other RECS practices.E rather than rural, the new member-as possible. ship needs to be brou:;ht into the Therc are numerous economies to full stream of co-op participation be gained by being cooperative and attendance at district and on-with each other, by pooling our re-nual meetings. sources and our activities through We have nothing to hide in our co-our regional co-ops such as our Don D. Pehl op2rative operations. On the con-statewide associations and Dairy. President trary, we have so much to talk about land. There's no reason for the man-to all members that is to our advan-agers in the Dairyland Power Sys-tage to have those members hear tem duplicating all each other's ac-about the activities of the co-op tivities. By these managers' com-from their elected board members mittees and through joint action we and their stafIs. accomplish so much more with few-er people, fewer man hours and with even greater efficiency. In 3 =

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i sslJ \\ L 1 J D..; Q-Y dgk [ ?kra(3nw}: ~ pc a w a, w (u,.y.3 OFFICERS The officers of the Dairyland gy.. f #i j Power Cooperative Board of Di-i ,9< l rectors are (lef t to right) Morris W. Birkbeck, First Vice-Presi-i (r f dent; Allen E. Hoel, Secretary; 4 [ s Donald D. Pehi, President: Ben W. Busta, Treasurer; and Levoid ) Q M. Larson. Second Vice-Presi-dent. . w;e . 'd Y \\.. - ) / ) ..P Q P'

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7 ( -^l .~ p h, _ t I loyd L_ Whee ler General Coun.<ci - ~ - ~ rarp-q, p. pqr ~-"~', Morris W. Ibikb.c k Ben W. Ilusta I.co l'.13yrnes Donald L Corty Wayne O.1:wers lo-CairoII Hawkeye Tir-County Allarnakee Clayton Polk 15urnett Crawford Gustat it Gustalson Conrad l'. Ilanson 1:Irner llar ns Allen E. Iloel Ilayrnand E. Jordee Wnnnehigo Tiernrealcan Taylor County Chippewa Valley I*reeborn. Mower 4 l

i l I i i ,__a-~~,w.~~-----~~-m Wilha l>. Jerome I:Imer F. Kaiser I.loyd M. I.ange I.evoid M. lorson Ma urice l'. Muller thuron Grant Class B Membes s Vernon Centar Valley m-ga w. 4 ' J ii[ '[ PS g. -[

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E. h /g 1 ?~ ' ' . 4 a - p .n. f% p ,p ~ lini !. h. der sen b/ [, m3 .'w.. ( S.-' N Donald D. l'ehl f:lton It ih-xialen Arthur A. ihemer John liolerts jump th ver Talayette To r Coun ty Baytteld Cau Claire Quentin C. liuc her levin O. S< hnick 1:r vin 11, & hult/. CarlI Sebion liudy L. Wagner I l'evple's far hon Price Pserce Pepin Orkdale -e n ' y) 3-g.,~ f k[s w w x N N:$ .f!'N h v.s a:a.a s I.co A. Wallace Wilham 1:. Watland Gene A. Weisa Wayno L Wilknk Italph E. Woik Ibchland Dunn Ceunty Buttato St. Croix Clask 5.

- <. g I ' D 9 i/# e -: a - c) ? ;' . -.Ah o. ,u. 4 .. s r e ~ __________ -_ ~ Man is the only creature who can note utilization of the Federal Fi-We are confident that the Nation-change his environment, as the late noncing Bank (FFB)in the funding al Rural Electric Cooperative Asso-Jacob Bronowski, a distinguished of REA guaranteed loans to genera-ciation (NRECA) and our many mathematician and historian, once tion and transmission cooper-friends in Congress will remain dil-observed. atives.11 cooperatives are denied igent in dealing with at least three A necessary corollary to that ob-FFB financing, they will face signif-more years of Reaganomics We servation is that man is also the on-icant increases in future financing must also maintain communica-ly creature whocan rapidly respond costs. tions with this new administration to unexpected changeo m the many aspects of his environment with ~ "~ ~ ~~ ] reasoned changes of his own. F ' ? IIere at Dairyland Power Cooper- " Nature - that is, biological evolution - has not fitted $ [ ltudenan to anY Pecific environment... Among t yYent$a y r?orded a h. f nimals which scamper, fly, burrow, and swim x around us, man is the only one who is not locked in to h most signihcant year of change in this generation and transmission system's 40-year histnry. Y. environment. His imagination,' his reason, his emotion-) Your cooperative's management ! al subtlety and toughness, make it possible for him not; f and your Board of Directors re- [ to accept the environment but to change it. And that] sponded to some of the same ( ' series ofinventions by which man from age to age has d changes faced by almost every I - ~ emade his environment is a different kind of evolution TN r f d ubl'e dih N ~ "0I bI*IOUI'"I' but kultural evo ci ll robl m i _ brilliant sequence of culturalpeaks The AscentofMan'. " infIation. We also met with the developments unique to the oper. 1 ation of a rural electric system t_ lacob Bronowski. "The Ascont of Man" ] - - ~ = ~_ m - w, wJ

erving 164,108 consumer mem-bets in Wisconsin, Minnesota, Iowa and Illinois.

Ati in all. I believe that we fared At the some time, however, it ap-and with the Congressmen of both well, although much remains to pears that the new administration parties who represent our interests be done, especially in view of the has a better understanding of this in the Dairylcnd service area. significant political change in nation's total energy problems. Turning to change here in the Washington. D.C. Both the administration and Con-Dairyland system itself, our energy Despite recent Congressional gress have expressed concern growth in 1980 dropped to only 1.4 modification of Pr9sident Reagan's about the need to speed up the com-percent, af ter years of growth rang-original goal to drasticully reduce pletion of coal and nuclear facili-ing between 7 percent and 10 per-rural electrification financing, we ties. If this administration enjoys cent. This prompted a changein our are still faced with what could be the same success in cutting regula-1981 budgetary planning, which as-the greatest political threat to our tions as it did in cutting the federal sumes a growth rate of only 2 per-program since President Franklin budget, we may need less financ-cent. This was a wise decision, as Roosevelt's creation of the Rural ing to meet the costly burdens im-growth so for in 1981 is below even Electrification Administration in posed by overregulation and con-that estimate. 1935. tradictory policies. There oro many reasons for this The administration has not back-change in the pattern of load ed away from its proposal to termi-growth. They include the installa-G

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R. N I Q v. [r tion of imulation, weather strip-f# needs was the use of coal fuelin a ping and other energy conservation n conventional steam plant. The measures: the increased use of study examined the potentialof pet-wood heating in our area, and the roleum fuels, coal and coal-derived simple decision of the consumer to fuels, nuclear generation, geother-use less electricity in the face of in. mal steam and heated water, solar creasing rates. The overall state of Frank Linder systems, wind syttems, biomass the economy - the runaway infla. fuels and biomass conversion, tion and financial uncatainty - peat, hydroelectric generation, slowed the rate of new home con. magnetohydrodynamic generation struction, and subsequently, the and fuel cells, creation of new loads. I,ow Iarm pri. At the same time, both Dairyland Dairyland will not rest on the re-ces undoubtedly discouraged in-and the n' ember cooperatives are sults of this study. We willcontinue vestment in new equipment which launching a public education pro-to re-examine this decision in the would also have added to these gram to explain how load manage-best interests of our consumer loads. liow long will each of these ment gives consumer members an members. factors prevail and how much do opportunity to control how much All of these energy options were they contribute to these changing they spend for keeping warm and evaluated on the basis of four crite-patterns? Allof thesefactorswillbe clean. Consumer acceptance of this ria-theavailabilityof theresource, carefully analyzed to determine program is crucial to determine the state of the needed technology, their permanency. how long we con defer the construc-production costs end environmen-Faced with this decline in the rate tion of additional generating co-tal compatibility. of growth and the escalating esti-pacity. Although it was not a formal part mates of construction costs, our With tho 365 megawatt (MW)lohn of our recent study, it can be said Board of Directors decided to indefi-P. Madgett plant now in operation, that public acceptance is still nitely postpone Project 87, our plan boosting our total generating ca-another criteria which must be to put a new coal-fired unit on line, pacity to more than 1,000 MWs, and taken into account. In the past two preferably at our Alma generating on aggressive load management years, after more than 25 years of complex, by 1987. We feel this deci-program to shave those Winter accident-free power production, nu-sion was a wise one, reflecting the peaks. Dairyland can look forward clear power has been put to that test flexibility necessary to meet to a long period of self-sufficiency. mots sevemly than any of our other change. The need for a new plant could be energy options. Public apinion has Even belore the decision to post-delerred until wellinto the 1990s. been called the wild card in:wclear pone this project was made, we This pause in our plant construc-power's future. were developing a comprehensive tion schedule will give us addi-Although there were many close technical strategy for implementa-tional time to evaluate our energy referendums on nuclear power tion of a centrally controlled load options. issues in the emotion-charged cli-management program. The initial In 1980, we completed an Alterna-mate following the mishap at Three test phase of this program is now tive Generation Study. Not surpris. Mile Island, the effort to defend nu-completed. Dairyland willbe mov-ingly. it concluded that tho least ex-clear power fared well. For many ing ahead with the p trchase of the pensive and most practical method Americans, the process of nuclear transmitter system and 10,000 radio of achieving future generation power generation has also been de-receivers, which wil! control dual mystified c,nd efforts to improve fuel heatirg systems, storage heat-public understanding have in-ing systems and water heaters dur. creased. ing periods of peak demand. 7

"We must meet change with well-reasened changes of our own if we are to retain the confidence of the thou-sands of consumer-members who have the final say as to whether cooperative rural electrification will remain a viable part of America's energy supply future. I am confident that we can fulfill that responsibility. " = The nuclear power industry has Last July l7, our newest coal-fired support technology becomes, this now created on independent pro-plant at Alma was dedicated in ho-intensified effort to reduce costs fessionat organization, the lnstitute nor of John P. Madmtt, my prede-will not be achieved without the full of Nuclear Power Operations (IN. cessor as general manager. The support of the 691 employees of PO), under the direction of former plant was returned to service on Dairyland Power Cooperative. l am Vice Admiral Dennis Wilkinson, May 17 of last year af ter an accident confident that this support will be who commanded the first nuclear on January 12 which damaged the there, as it has been in the past. Navy submarine md ultimately, superheater and reheater sections Through improved internal com-the entire nuclear semarine ileet. I of the boiler. This facility's reliabili-munications, Dairyland employees was recently honored with reap-ty has been more than satisfactory are keenly aware of the impact of pointment to the INPO Board of Di-since last May, many of the recent changes affect-rectors, serving as the sole repre-The cost of bringing that facility ing Dairyland, the crucial need to sentative of rural electric cooper-on line was a major factor in our de-hold down expense increases and atives across the country. cision to seek rate relief through a the bottom line effect that failure to In its first year ol operation,1NPO 14.2 percent wholesale rate in-do so will have on the consumer has established a unified, industry-crease approved by the Board this members who employ them. wide approach to the improvement past February, which was effective We share a great deal more in of the safety of operctions. Every fa-March 1. This followed an 8.9 per'- common with our neighboring in-cility in the United States is sched-cent increase in January of 1980 and vestor-owned utilities than we did uled for a once a-year inspection a 13.6 percent increase in June of 40,25 or even 10 years ago, includ-under the INPO program. This in-that year. The March 1981 increase ing a healthy spirit of interdepend-cludes our facility, the La Crosse should provide the revenue for a ence.

• oiling Water Reactor (LACBWR),

Board approved budget which in. We must not, however, lose sight t nich willbe inspected by theINPO cludes an anticipated $4.5 million of the fact that the last name of this team this Summer. in margins for this year. system is " Cooperative." Changes This was a successful year for On January 6 of this year. I met in the national and local political LACBWR. It operated at 69 percent with all department heads and re-climate affect us differently. We availability, the second highest quested further reductions in the face the special challenge of main-availability in its history. The proposed 1981 budget. This intensi-taining cost controls while serving plant's personnel had the highest fled scrutiny of expenditures, both a predominantly rural area. national percentage of passing ap-in budget planning and in practice, We must meet change with well-plicants during the past 18 months has become a fixed standard of op-reasoned changes of our own if we in tests for operator licenses. We erotion under a major revision in are to retain the confidence of the completed expansion of our spent Dairyland's accounting system. thousands of consumer-members iuel storage capacity on.1 success-Prior ta that meeting, each one of who have the final say as to wheth- !ully proved that the plant can with-our assistant general managers be-er cooperative rural electrification stand on earthquake of a certain gan a campaign to increase opera-will remain a viable part of Ameri-magnitude. tional efficiency in all four major co's energy supply future. I am con-We are now awaiting the results groups. Plant operation and main-fident that we can fulfill that re-of a study by a nationally recog-tenance, the transmission system, sponsibility.E nized consultant designed to give inventory systems and fiscal proce-us a further indication of how long dures are all targeted for various this plant con remain on economi-specific improvements this year

f % j cally viable part of the Dairyland and for severalyears tocome. Many generation system.

of our improvements will be com-Frank Linder puter assisted. General Manager No matter how sophisticated our May 19,1981 OO _---.~._._n~

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- 3;!.l '~ .i , 4 31 - 'Q. Contech, Inc.. of Minneapolis. Minn., purchased 18.561 tons of fly ~ ash from Dairyland Power's 350.000 I kWcoal-fired Genoa #3 generating station at Genoa. Wis, and the 365.000 kWcoal-firedIPM generatingplant at Alma. Wis. In this photo. two Contech vehicles are preparing to load the fly ash which is used as a fine aggregate to strengthen concrete mixes. Radiation chemistry analysis is ~ ~ ~ ~ - v n,w 7 r; m m m m r y, m conducted in this lab at the 42.000 \\ ibb ,.Q,,,).: kWLa Crosse Boiling Water b' Reactor (LACBWR1at Genoa. Wis. + k_ls ~ Sh r l Adjacent to the area is the Q~,'. ?*l counting room where radiation ,~ contamination controlof the plant {' ^I 4 is coordinated. } _( 'l = !>: y y 2,-M\\x,,r b Fat .g,l y .r w j pf' = a f,__, %x $ a a 1

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p'Y--YW:Moseer Geessened, W -rY W-W ' i s jarPuseliasedgle6; r. e c a a und, ,.Pussbased i e myds apenset;' ~ We KQ, ....=,p-n p L *ses h.S',,,,,,wy'y; ; ?( .sss ? e 1s t3 s] a.. t. A p mju LJ LJ g L g J f 1 g ,,1" POWCR GROUP l"_[*. 1 ? .c n.. ' ~. . ~. .,, -. m t seus }; 2' - e4 Power Production and the E. J. Stoneman station,2.9 f' E"O .. ') ~ ' . [D Dairyland Power Cooperative's percent. h*]M. J } h, d Y total system energy requirements The La Crosse Boiling Water [ see P

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~ total. The system wide supply of percent of the system requirements ,a s '77 7'70. ~79 E'80 t electric energy was 4,362.964,100 and the I'lambeau hydro-electric { " "19784"" '" * - g net kilowatt. hours (kWhs). plant and Twin Lakes diesel plant s 'p g Dairyland Power generating supplied the remaining 1.4 percent. a ~4 n3 plants produced 94.8 percent of Dairyland Power's original gen-Jim Teylor the total energy while purchased crating facility, Genoa 51, re-LACBWiloperated at a 69 percen' A:1 tant General power accounted for the remaining mained on standby status through-availability, the second highest in "",]' 5.2 percent needed to satisfy the out the year. its history of operations.The reactor electrical needs of over 164,000 An unfortunate incident at the was shut down in November Ior rou-consumer. members. JPM station on January 12. 1980, tine refueling. Upon examination of The electric energy production caused an extended outage for re-all the fuel assemblies, no failed or from four coal. fired generating pairs tothe superheater and reheat-damaged fuel elements were ob-plants supplied 88.5 percent of er sections of the boiler. The unit served for the first time in several Dairyland Power's system require-came back into service on May 17, years. ments. Genoa #3 generated 44.1 1980, and for the remainder of the The expanded fuel element star-percent of the net kWh total; the year, no additional forced outages age well permitted complete un-John P. Madgett (JPM) station, 21.7 could be attributed to thelanuary 12 loading of the reactor for examina-percent: Alma #1-5,19.8 percent:

incident, tion of the reactor internals and fuel assemblies.

.~ 1980 GENERATION GENEllATING STATIONS 7.e.1Pi, j Type Station Crose kWh ' Net kWh Number Net C tty J Type

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me m"aser).~ i d 3k ' Steam:. Alma 924,269.000 862.930,100 5 204.600 ; i IPM 1,045.520.000 - 944.557,000 Steam: Alma - 1 365,000 92,200 - (423.100)- Genoa # 1. . ypg j ' 'g ' ' ' ' ' ' 3 ^ 12.530 Genoa #3 2.027.608.000 1.025.827,000 4 g,,, ~ 350.000 3 i. Stoneman. 138.624.000 126.465.600 Genoa #3 l-F Dieselt -: Twin 1.aken 1.688.200 1,510.600 ' e Hydro:.. Flambeau. 60,440,000. 60,150.900'- Hydro :- a i '~'~ 4 Ncclear: LACBWR ;. 1 231.504.000 214.546,000. 1

i. Total Generation T42DGEMG. 03E56410d D'N

."M**' j- 'd$j r : Purchased Power.,. 227.400.000 227.400,000 ' Total Capacity in Serv 6ce 7,55DEil [n~ TotalRequirements a.

4'657,165~400 T362.964 ID6

p .l TRANansinntONI.INES ema.1 nu.e a. ..Jd'=s*=V - ca.imed op.mme 3{ [. DISTRIBUTION (kWh)' U s 507,00, 6 met ' ' n.elesenhd s N 161..... 507.09. i. Mua. sales n 115/161 ',... 2.20 ' . ! 2.20 4 t-Class A Members.. <... ! 2.600.380.625 2.520.197.811

69...

2.200.56 ' 2.173.91 1 7 t Class C D & E.. 1.563.330.891 -1,643,5s3.705 - 34.5.......... 308.22 : 414.37d p TotalSales 1.. II63.71U16 : U6Dil3I6 ~ TotalMiles TUKUT TW71d 7.504.993 : ' SUBSTATIONS J 7.e 6 : o Intra-sycom Usse. y : Transformer k 1.ine losses . 191,747,591 : %va M 1 Total Distributton !..,........., DB2~96Ohd [ Type N Nesmhet k [L Plant...'.., <5- ! 1.100.500 7 ~ i Il Distribution..........j '980.500 -i d M

Transmission....

20, 1 i .238- - 861.05E E l Total.. ,. ' W 'ETEMA Wawa.w-,~w:aww:L.a>,w wawa_wsn , _wswwy&

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• v7smWmq7 77 L g

6aMa-Anwa A udu .4 gW mww$ %a ( ~ bl0h[$0lS*b% 3$5 M. y @ j = b m a.. 3 w a eJy$ W p p w - n;~ E 85 R 74% i w g-7 qu (,7 4 3, m n m v. ~ g u e _ m a b k('( 1 Y 4] 1 increase to mamtam. survey and This was the first year of opera-p Lb O M / Op g Q d report results of the momtonng tion under an amended contract M 2 d e prog ram. with Consohdated Grain & Barge p[i 3 E D 2 0 The Environmental Af fons De-Company. St. Louis. Mo. tor the [% d C -- M N Partment was heavap involved in transportation of southern Ilhnois W ] M Ti the pre-certification activities for cool in barges to our plants at Cass-f }gyg T'77V78 47 N'80 g Project '87. These mclude the prepa. vdle. Genoa and Alma. The modi-d4:. bE ~ Min ' f Rca ration of the environmental report. fied contract proved to be more eco-the estabbshment of four new air nomical. Barge coal movement was The mcreased burden of regula momtonng stations surroundmg completed by the first week m tions resultmg f rom the Three Mile the Alma site. the preparation of au Novem ber Island follow up has been expen nonitonny and water momtonng Umt train operations require sive. tune consunung and burden dy plans and numerous meet. skdlful handhng of rail freight some to th" expanded techmcal ings with state and federal envuon-tanffs and arrangements for car statt at the plant mental regulatory agencies to ob-repairs. An mtensive effort to mon-tain approvals for our pre-certifica-itor received coal weights and coal Environmental Affairs tion plans and studies quahty has resulted m an accurate Dunnq 1980. the Power Gr "o Envuonmental studies and de-occountma for deviations between was morganized to incorporate t. sign of the Alma off site ash dispo-the shipper and received weights. depm t men t at Environmental Al sal pm;ect was neaHy completed in fous The System Control Center 1980. Construction will be started in Power Engineering was transfened to the Systems En 1981. In October. Dairyland Power re- .;meenny Group Tins reorgamza ceived a 536.935.000 loan approval l tmn was done to mcrease opemtmq Fuels Management ham ..e Rural Electnhcation Ad-efficiency and successfully bndges Total f uel expense for 1980 was ministration (RLM Ten milhon dol-the operations of power production over $58 mdhon. The admuustra-lors of this loan was a deficiency and the tmnsnnssion and substa tion of four coal contracts and the loan for completion of the JPM sta-tion network management of two unit trains and tion. The remainder of the loan was Governmenta regulation of our 107 borges is handled by just two for generatmg plant improvements operatmns continued to intem if y neople m this area of operations. throughout the system. dunny 1980 both on a federal and state level As a result of Three Mile Island. new envuoi lental moni. More than two million tons of coal tonny requirements have imposed were Purchased at a cost of over im ieased alertness ( i 1.ACBWH s $54 mahon for Dairyland Power's four steam plants in 1980. Coal day to day operations as well as m was barged on the Misss.enpps. the repmting of our emissions. both River to the 350.000 kW Genoa #3 chemical and radiological-station. at Genoa. Wis.. the 204.600 increased morntonng requae kW Alma #1-5 units, at Alma. Wis.. men's on coohng water discharge and the 55.910 k W E. I. Stoneman and gaseous and pmticulate emis station at Cassville. Wis. This sions f rom fossil plants requued the photo shows coal on the reclaim P e at the 365.000 kWJPM station, il mstallation of new and more highly also at Alma. which Dairyland sophisticated momtonnq equip. ment with an envuomnental staff Power received by unit train. ry 9 s ._.,i_..- in

SYSTEM ENGINEERING n.n-~--~nn ~ .-~,n.~-------.-~~~ Power engineers significantly ex-Engineering and Construction were also working on theWashburn panded their activities in 1980. Early in 1980 the Rural Electrifica-County 161-69 kV substation Many small plant improvement pro-tion Administration (REA) approved scheduled for May 1981. jects have been completed and Dairyland Power's application for many others are still on-going. loan funds in the amount of System Operations The design of Alma off site ash $56,738,000 for the construction cl A number ol additions have been disposal project to provide for ash transmission lines, substations, made to improve Dairyland Power's handling and ash conditioning, communication and control equip-overall system operations and help conveying and disposing equip-ment, a new service center, and a reduce outage tirr.e during storm n ent-is o unique design challenge central controlled load manage-und emergency conditions. These to the staf f. ment system. This loan will provide system improvements include the the necessary funds to construct installation of an ultra-high fro-these required facilities during the quency (UHF) radio system, exten-F ~" ' ""~ ~~~7] next three years. sive additions to our microwave [ T Cost of Coal Engineering and right-of way ac-communication system and the fi. b Per Ton Burned -1 quisition on over 100 miles of new or nal completion of the Supervisory { y,, %. y1 ~ j rebuilt transmission lines were Control and Data acquisition [ 1976... 1 S18.81 S - _, completed in 1980. Engineering de-(SCADA) - Automatic Generation L 1977 /..... ' 20.08 J sign on four major transmission Control (AGC) system which started 6[1978,.... L 22.4724.86 22,32; }7 substations and 10 distribution sub. several years ago. 1979 v.... stations were also completed. The UHF radio system addition is bl980. 6.. 25.35. 24.81; y Field crews constructed over 25 a joint effort between Dairyland km miles of new 69 kV line, the Galena Power and the member distribution Jw 161-69 kV transmission substation, cooperatives. When fully imple-and iive new distribution substa-mented we will have the capability The Pt ar Engineering group tions. At year's er.d. intensive field to communicate with all operation has been .ive in plant perform. construction work was underway and maintenance personnel any-ance evaluations and in assistance on two major 161 kV transmission where in the Dairyland Power to plant operating personnel in the line projects - the 46 mile Alma-service area. solution of operating and perfor-Crystal Cave 161 kV line linking the Theinstallation of the new micro-mance problems. Each new project Alma plant to the transmission sys-wave system provides a highly reli. is evaluated for its economic pay-tem near Spring Valley, in Pierce able communication link between i ack, for the selection of alter-County, Wis., (scheduled for com. the Dairyland Power control center 4:atives and for the feasibility of ex-pletion in June 1981)and the 28 mile and all generating stations, trans-ecuting these projects within our Genoa-Lansing 161 kV line which mission substations, as well as the budget limitations and production will tie the Genoa plant to a Inter. control center of neighboring utili-requirements. state Power Company generating ties. This system is used for voice The primary objective of this plant at Lansing, Iowa (which will communication as well as retrieval g oup is to choose tho most econom-be completed by summer 1982), of data required for the economic ical option which produces the Both of the facilities are impor-and reliablooperationof thegener-maximum return in improved per-tant to the continued reliability of ation and transmission system. formance, reduced maintenance or electric service to all electric users The SCADA/AGC system allows cost of operations.E in western Wisconsin, northeast lowa and southeast Minnesota. Substation construction crews 12

._a; s....p y ~ u [- {"4 (J. - [l' p '. ' 'l Dalryland Power is in the process activates a switch changing the T. L ofinstalling a load management source of energy to an appliance r y, L program which is expected to be in (such as water heater or electric ' ' t,.! 0 J operation by 1982. These are load space heater) during peak times f rnanagement switches, or without inconvenience to the user. I A'-'?,f ' {l receivers, which accQpt a code that ._,a ana m. - ~ - I- ..J("{N{/: ity by controlling loads such as grams to encourage the wise use of - ] water heaters, heat storage cquip-all energy will have the highest 3 'w. . d }; g,t -c '. ' ) and other loads adaptable to inter-complish these programs, Dairy-i ment, dual fuel heating systems, priority in the coming years. To ac-s s ruptible service. land Power plans to conduct exten-h) Dairyland Power's annual peak sive studies into the uses of electri-WL , M- /-. demand for electricity h1s histori-cal energy in our service area and / .~ f [.k' ~ ~ x cally occurred during the Winter evaluate methods that cen reduce months. This is due to a significant or alter these use patterns. saturation of electrically heated We are presently working with I ck Leifer A """ #'"*"' the system operation in the control homes together with patterns of consumer-members on supplemen. center to continuously monitor all usage of dairy farm consumers, tal energy programs such as solar, f,"""'[,y;,,,,j,y major transmission line loadings, The management of Dairyland water and space heating, cogener-status of equipment, and closely Power believes that the installation ation, wind generation and wnd controls the economic loading of of a centrally operated load control space heating. At the present time our generating units. This system system, coupled with an aggressive we are gathering data from four also provides the dispatcher with promotion of storage and dual fuel solar water or space heating instal-the remote control of line switching heating systems, will significantly lations and one wind installation. for the rapid restoration of service reduce future peak load require-Information gathered from these during emergency conditions. ments while increasing future installations will be made avail-energy sales. The new system will able to all interested consuwr-Planning For the Future result in an increased annual load members. Dairyland Power has made a factor and in lower power cost to Extensive studies are under way long term commitment to the imple. Dairyland Power's members. evaluating our existing transmis-mentation of a centrally operated Dairyland Power obtained appro-sion system in an offort to improve load control system which will en-val from the Wisconsin Public Ser-operating efficiency through trans-couraqe energy conservation and vice Commiwcn for the continued mission and substation loss reduc-improve utilization of plant capac-planning for construction of a 470 tion. This program may result in the MW coal-fired generating unit to be rebuilding of older transmission shared with several interconnected lines and replacement of substation municipal systems. This unit was equipment. ..I originally planned for completion All aforementioned programs are Meanse CeeperedTe in 1987. However, the member coop-intended to optimize the utilization o[ M Dmend u matee. - {' erotives load growth has declined of existent facilities, improve sys-3messeos ems.eri e m the past several years due to vol-tem reliability and minimize future t t~ untary conservation, a decline in energy costs.E ese ; newconsumermembersandaslug- ,i in : i gish rural economy. This continued j decline in load growth has resulted ese ; "j in a decision to delay a commitment D l to build new generating capacity. g 1~ ~

• f,.

The implementation of the cen-E' l tral controlled load control system. (g* along with the development of pro-r 3 .i 3 N* ^ r a-a wm w.w.wum m,w,wwwmmn.mwsara.,.mmma k " 1978.73 M75 Mir 7079 8641 $ ) 2a

ADMINISTRATIVE SERVICES , _ _ _. _ _ _,, - - - - ~ ~ - - ~ ~ ~ ~ ~ ~ ~ m Personnel Activities We increased the materials man-at the various plants and 25 infor-

• y}. Q had a net gain of 31 employees in d

Dairyland Power Cooperative agement stoff which strengthened motional training sessions con-our efforts to negotiate major pur-ducted for the RECS. j 1980 bringing the total employment choses and secure bids. As part of our continuing efforts to 7 at year's end to 691. In mid 1980 we began construc-inform members, the public and Thegreatestshareof thenewper-tion of a service center in La Crosse employees,20 audio v5ual produc-4 . j' manent employees was assigned in which the central warehouse will tions were completed during 1980. 'g - to: Alma, as part of the staffing re-be located along with a new truck The Information & Marketmg De-quirement at the JPM station; at service and repair garage. There partment produced the following Jim Sherwood LACBWR, to meet NRC personnel are also facilities for electrical test publications during 1980.. Short '[ staff requirements; and in the Envi-and maintenance of transformers Circuits, daily news bulletin: Cur- ""NN WWW U "d W

• 1. • "W NN N#W UMN "WN
• 0 SQU NN"'. System Engi-Administrative tal and chemicallabs every five weeks; newspaper ads, servic,,

creasing state and federal require-ments. neering, and Right-of-Way staffs nuclear notes for RECS, news re-will also be located in the new leases, mcnthly envewpe stuffers. Inventory Control System facilities. Dairyland Power System Directory, One of the biggest accomplish. The central warehouse, in the weekly news clippings and the ments in 1980 was the initiation of service center, will be for storogo annual report. an inventory control system at and distribution of consumable Files and records management LACBWR and Genoa #3 which held items and common components at are being aided through a com-down investment in inventory. generating plants. With the central-puter assisted records inventory This system also insures avail-ized and computerized inventory system with file design, indexing, ability of spare parts for our power system, we will be able to carry retrieval, storage, references and plants and transmission lines, smaller inventories than in the past library services available to all while giving generating plants in-and rotate more frequently. departments. stant access to materials on hand. The Information & Marketing De-Dairyland Power's garage per-partment conducted 140 informa-sonnel maintained a fleet of 194 tional meetings during the year. vehicles and handled major repair There were also 47 tours conducted and overhaul requirements on the vehicles. When our service center becomes a reality this Summer we will see even more cost saving elfi-ciencies throughout the Adminis-trative Services GroupE This is an architect's model of Dairyland Power's $4 million service centerin La Crosse, Wis. which is expected to be completed In 1981. The service center will be the new home for System Engineer-ing Electrical Test & Maintenance, p Environmental Lab, Garage, Right-of Way, Legal and Warehouse [ personnel. Construction began on the service centerin the Summer of i930. .. = k

CONTROLLER'S GROUP ww. s - .,vmn , < ww. ~ w Sales Pool (MAPP) members and area mu-million to $19,513,719. Another size-9 Power sales totaling 4,163,711,516 nicipal systems - increased to able expense - amounting to e kWhs represents a 2.6 percent drop 1,563,330,891 kWhs, a 2.0 percent $2.286,900 - is the amortization of g ] from 1979 electric sales. Electric increase over the previous year. the Tyrone Energy Park Project sales of 2.600,380,625 kWhs to Class which is being amortized over a five A membars - the 29 distribution co-Revenues year basis. operatives served by Dairyland Total operating revenues regis-Power - were down in total by 5.1 tered a new high of $121,929,548, an Margins g prcent irom 1979. Until early 1981, increase of 21.1 percent. Total margins dropped to Dairyland had served 18 municipal This included $121,830.674 in $517,232 from $3,430,699 in 1979. To-8j[ly, utilities through the Class A sales of electric energy. Income tal margins include a non-operat-y,, y,, member cooperatives and which from energy sales to Class A ing margin of 5597,943. derived from and controller are now being billed directly by member systems increased to interest inccme and extraordinary Dairyland. This revised mmketing $82.754,517 while revenues from income. arrangement for the municipal re-Class C, D & E members and other sale sales was responsible for the power sales climbed to S39,076,157. Rates apprent lower sales volume to Total operating revenues also in-In September of 1979, the Dairy-Cicas A members and the apparent cluded $98,874 from rent from elec-land Power board of directors auth-higher sales to Class C, D & E tric property and miscellaneous orized a 1980 rate increase of op-members. When the municipal re-service revenues. proximately 16.9 percent or 4.4 mills sale cales are excluded from the per kWh. The increase was phased Class A member sales, the native Expenses in with an 8.9 percent increase as of Class A sales actually increased by The cost of producing electric January 1,1980, and a 13.6 percent 1.4 prcent of over 1979. power increased throughout 1980. Energy sales to Class C, D & E Total operating expenses reached members - neighboring electric $100,048,221. Operating expendi-utilities, Mid-Continent Area Power tures, interest and other deductions totaled $122.010,259. [_ mg%]I At Dairyland Power, the cost of I . e no fuel, primarily coal, is the largest h inef. V" g r-<- -,_,-l annual expense item. The 1980 fuel [18C~T .~ T [i power Sales i e es =*.e" a l expenses, $58,310,463 accounted for g hu. 'gi4 - t m]m~... g g over 48 cents of each revenue dol-tiehng '9 9 1 .w nji. L c 'I lar. Purchased power accounted for p ' in [ ', -, 1 ) y I eus jk%94,26;$.j $4.387,487 of the year's operating [ [1 %i g' i expense. }['" e - ~ t (! [ s"e' d ~ ~ es y, a_ ) p 3 y% J In other 1980 disbursements there 1 was an 18.3 percent increase in to-F.fb L L I 2 i ? b tal system maintenance expenses [y I [ [ 1]

map p3 d b.] hd which rose to $6,104,460. The fixed

[ y Yi 1 i cost of depreciation and taxes was ' 1 se : r. k bh r E P U .n Il V p J $17.248,534. Interest expense after ej b b L L i 58 + r s sugj i deducting the amount capitalized [E ' [ [ [ [ ] for construction increased by $13.4 [ ~ =d {g ^ p {; p 1 1 7 g s I t

r p

Mest u___.___,, _ g g j n E k n 15 6f F n r r r M[ YlE% h.8 {-[ [= Q k $ t h a.w d h L.__did

z_____ s - -~~- increase on Jene 1,1980. The large Interest on Long-Term Debt Additionally, another $944,153 in in-increase wasdue to thehigher fixed Dairyland Power maintained its terest was paid to CFC covering the and operating expenses of the JPM schedule of repayments, with inter. Tyrone Energy Park Project.

station, est on all long and short-term obli.

Historically, through 1980, Dairy-Hates to the 29 Class A members gotions during 1980. land Power has paid REA were increased by 14.2 percent as of Specifically, total 1980 interest $47,161,145 in interest payments. March 1,1981, to meet a board ap-payments included $2,957,382 to the and $79,134,139 on principal long-proved budget including $4.5 mil-Rural Electrification Administra-term debt for a total of $126,295.284 lion in margins for the year 1981. tion (REA) and $13.031,436 to the throughout its corporate life. Federal Financing Bank (FFB). Net Cost of Power There was also $787,193 in inter-Financing The average cost of delivered est paid to the National Rural Utili-Dairyland Power has continued power for the year rose to 3.16e per ties Cooperative Finance Corpora-its debt maturity management pro-kWh which is an increase of 31.02 tion (CFC) covering City of Alma gram for FFB financing in order to percent. Pollution Control Bonds and minimize the long-term interest $672,395 on unit trains for coal costs through the temporary use of transportation at the IPM station. short-term two-year maturities. An Overall Comparison Generation PowerCost Delivered Total Total Non. and To Members Operating Operating Operating Net Purchased Cents Per Kilowatt-Hour Revenues Expenses Margin Margin Power Year Millions Millions Millions Mallons kWh Billions Gross Net % Change-Net 1976 $ 69.46 $ 64.62 S (.06) $4.78 4.28 1.91 1.71 + 13.93 : 1977 76.66 73.29 (.04) 3.33 4.61 1.99 1.86 + 8.92 1978 82.23 82.48 .84 .59 4.20 2.17 2.15 + 15.48 1979 100.67 97.39 .15 3.43 4.67 2.54 2.41 + 12.26 1980 121.93 122.01 .59 .51 4.36 3.18 3.16 + 31.02 e U ' The Expense Dollar - - - Where It Went Sales Materials Taxes Year Depreciation ruel Administration Patronage Purchased Wagsu Ins.& Other Capital Expenses Power laterest i 1976 7.6% 45.2% 2.9% 6.9% 5.8% 15.9 % 5.6% 10.1 % i' 1977 8.4 45.1 2.7 4.3 4.9 19.5 4.9 10.2 I. 1978 8.1 40.4 3.1 .7 7.0 24.7 5.8 10.2 ~ .I i. 1979 7.6 42.7 4.6 3.4 4.6 18.4 9.9 8.8 _.' 1980 10.9 47.6 4.9 .4 4.4 3.3 19.2 9.3

r

) %v.wm,-.e m..mw.. - + e e s., ; .a.n wo, m. m% m-.o.%se wmen __ -- i

p - -y-m- .,y }088888Seekielet i r essesehercoopseemsee (1 e es. I 's.: c "; ;, "Mb [ L si[ m.,. M j .a g.,,,,,. _ j gr. 4, . y ~* n[ n,-r - v . n,v yo~ng.v. ewe y e = 1 j i g 's l f go g.comeyeggehtebeseeteneet,

p g.

.. _,

. gen .l j e og peyesegangen ] a .e [ y y r l'i.s 3 4 d A ! Ieterees & Tassee 1 5 ; 3,, a 3 ] 3 ] i"*- < e w~ -g -1 1 1 P 17ess. j1A d f% dini t x ei e ~

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a Q

--l 2 4 t a r teseherEgesty&- - -- q ! S 1 r-l] Si ] ] f F i ( Leag Teess Debe) a, e11 g. j r! 9 q.; l b n [ m e,,,,, y q= ~ g j .s L so b,:, - ' : _c? e g e Lems fonn ombe ' 1 } -M h' ~ l 1 J l d? 88h ~ rcmN J l l.FE j a, 7 1 e i 4 em r i ,, o t im w w w ": a: 18_; Pm L _ ma W c c l j ss. p " g r ~ yY3] %*g f~ Is 0 L 1 [' imp r . g 1 L" ' "'".. i Two year notes of $18,832,000 4 were drawn.down in 1980 with [ b _.!_ l i i l $13,%2,000 of two-year obligations [ *Im5 w '80 ~ coming due in 1981 which will eith- [.'. ~ ~ " " " ~ ~ ~ er be converted into long-term obli-Financial Accounting System gotions or renewed with two-year A major revision in Dairyland's notes again. accounting system took place with Dairyland Power completed tax-the installation of a new general exempt municipal bonding on feb-ledger, a revised account coding Computer Services ruary 12,1981 for S3,950,000 0f Indus-scheme, and a new accounting Dairyland and the Policy and trial Development Bonds with the procedures manual. In addition, Procedures Committee of the Dairy-City of La CrosseIor the new service the financial accounting system in. land Association of Managers stud-center building and sl6,100,000 Pol-tegrates Dairyland's responsibility ied in depth the long-range direc-lution Control Bonds with the City accounting (budgeting) along with tion of data processing at Dairyland of Alma for ofI site Ash Disposal the generalledger.The end result is Power to meet both the distribution Facihties, a comprehensive accounting sys-cooperative and Dairyland Power's The $20.050,000 of Bonds which tem designed for occurate and time-internal needs. As a result of these carry on 8.5 percent coupon rate for ly reporting while incorporating the studies Dairyland will terminate three years will eventually be refi-recent emphasis on internal con-its service bureau processing, in-nonced with long. term tax exempt trols. stall an IBM system 4341 at the 1,a bonds. An additional phase of the finan-Crosse office in 1981 and purchase cial accounting system was the in-an extensive software package to Dairyland Power adopted a whol: sole power bill prepayment stallation of a new accounts paya-rrcet the needs of the distribution program in late 1980 that gives the ble system installed in early 1980 cooperatives.E di:tnbution cooperatives the oppor-resulting in increased efficiency tunity to earn favorable interest on and control of Dairyland Power's advance payments to Dairyland expenditures. Power while reducing Dairyland's int:re:.t expense on short term fi. noncing requirements. 17

w~: ;> a e m c3 + ; r, 3 g. 79 mg o-u i,O L .a m ~, n,.., m' <t e.x s V / ii i I ).* 5 6 BALANCE SHEETS n,~~_ n. -.~..-~ ~.- .-~,._,.--,--n,~~ ~ ~, - - - - ASSETS y-~~ - 3 1900- ' j 1979 {. El.ECTIt!C PLANT (Notes 1,2,3,4 and 6): $403.331.080

p. 8430,507,134 ;

Plant and equipment, at original cost Accumulated depreciation [.(110.405,308) (96,196,317) i ' 310,111,730 i 307,134.763 !p q bh 18.354,257j 15,584,818 Construction work in progress 15.443,478j 14,685,235 Nuclear fuel, at amortized cost u 1 Total electric plant. J 341.000.483] 337,404.816 ) l INVESTMENTS,at cost: j -] Capitaltermcertificatesof NationalfluralUtilities Cooperative l'inance Corporation (Note 5). 9,743,004 j 10.334,726 Pollution Control llond proceeds on deposit with trustee f 571,300 3 1,237.324 Other investments j-

808.000 j 1,020.912 i

Total investments L411.197.7037 12,592,962 ~ ;.

q CUlillENT ASSETS:

Cash i g 185.903.3 124,765 13.300,318}) Accounts receivable - Energy sales 10.977.671 Other ' 950.904i! 1,375,910 Inventories, at average cost - ..] I'ossil f uels E. 44.577.0N" 44,358.885 7 911.873 4.046.801 Materials and supplies 4 Prepaid expenses ~ 1,031,006 } 468.419

s

.1 7 Total current assets 08,837,870 j 61,352,451 g q

3,.

del'EllilED CIIAllGES: 'c D sj Abandoned f acilities, being amortized (Note 4). 1,979,N1 j -7.M8.481 9.553.391 Other 1,589,355 ./ SM) 11,142,746

1 N '41 5422.492,975 a

.1 ) The accompanying notes are an integral part of these balance sheets 2_ ~ _ __.===. =w==-._- i-

U Dairyland P:wcr Coof trative December 31,1980 and 1979 n n.~ n.- _. ~ _ ~..-- ~ ~-- ---- = = = = ~ = = ~ CAPITALIZATION AND LIABILITIES i) ;1900 ;,j 1979 I t CAPITALI7.ATION: T ( Long termobligations lesscurrent $L mat urities included below (Notes 3 and 6)- [ g n. Long term debt

• S3C3,225.2WF ;

$295.296.544 A L ~g Subscriptions to copital term certificates { of National Hural UtihtiesCooperative Finance Corporation, [ j due in varying annual amounts to 1984 (Note 5) l.849.8843 3.318.350 i 4 Capitalized lease obligations, principally atimplicitinterest ratesof 7 6 j due in varying amounts to 1995 b i 7.435.563 } 7.659.084 ,I l Total long-term obligations.

312.510.724 }

306.273.978 Member and patron equities-l4 Membership fees t 9.484 5 9.202 Patronage capital (Notes 8 and 10) , 56,892.902

• 58.289,658 Total member and patron equities

58.902.308 1 58,298.860 0-I Total capitalization r? 369.413.110 ?

364.572.638 { .j r 4 CONTINGENT LIABILITIES AND COMMITMENTS i .' 2 1 (Notes 2. 3 and 10) I 1 t CUltilENTLIABILITIES: b l Current maturities of long term obligations [ ' 23.083.537 _ 7.238.391 Notes payable (Note 7). ( ' 15.500.000 l 28,100.000 Advances trom member cooperatives (Note 7). E.

313.382 j Accounts payable-

[ .i General. i .'3.278.343 3 4.891.430 f 5.700.295 j 10.144,937 Construction Accrued liabilities - y. .y Payroll and vacation pay U "1.033.050 1.443.770 [ ~ ' 2.037.538 j 1.704.920 Tax:s Int: rest. p /1.318.870 2 827.399 E 2.803.787 3 2.622.994 Nuclear iuol reprocessing costs (Noto 1) Other D 871.125 946.296 i Total current liabilities. S 38.818.00F3 57.920.137 r A f$4M.000.857j $422.492.975 ~d 19

STATEMENTS OF REVENUES AND EXPENSES AND PATRONAGE CAPITAL fo7dieNears Ended December 31,1980 an[1979 ~ REVENUES AND EXPENSES p' i"~ ~~l 1000 I 1979 a OPERATING REVENUES: j Sales of electric energy.. L 0131,030,074 l $100,547.645 Other F - 90,0743 125,176 f .1 f 121.930,540 j 100.672.821 Total operating revenues r i OPERATING EXPENSES: ) i Power generation - l 50'310,'403 la43,034,502 Fuel. Operation.. [ 7,034.200 -{ 5.865,733 Maintenance. [ 4.042.304 j 3.776,033 Purchased and interchanged power p : 4.307,407 q 18.360,383 Transmission-Operation [E, 670,071 1 543,595 j Maintenance.... 4- .1,122.010 l 1,261,986 Administrative and general- {~. l} [ 5.793.130 j 4.702.838 Operation Maintenance... [ J130,3401 123,007 Depreciation and amortization (Note 1) r.13.200,3001 7,691.450 Taxes L 3.060.335 j 3.937.478 n Total operating expenses j~.10r' Jet.331] 89,297,002 ['~21,001.337]l Operating margin, before interest and other deductions. 11.375.819 INTEREST ANDOTHER DEDUCTIONS: 1 10,500,710]4 Interest on - Long term obligations 15,352,985 Short. term obligations... D 2.955.101J 2.388,349 Allowance ior borrowed iunds used during construction (Note :)..

~ (2,030.175.

Ii1,681.830) Amortization of abandoned iacilities (Note 4) 2,300,000 l 1.905,750 Other = 101,419 J 136,513 F, ) Total interest and other deductions $ -- 21.903.000 $ 8,101.767 l N Operating margin (deficit) b (00,711)) 3.274,052 NONOPERATING MARGIN: .071.f55 ) Adjustment to accrued licenso fee (Note 10) J (74,013 ] 156,647 Other income (expense)... q Net margin.. I, 517,330 :l 3.430.699 N-Gi PATRONAGECAPITAL b,300,0$$ 56.704,530 ', ' (1,91f.,0%] PATRONAGE CAPITAL BEGINNING OF YEAR 00 RETIREMENT OF CAPITAL CREDITS INote 8).. (1,845.571) 'y PATRON AGE CAPITAL END OP YEAR, including margins assignable of $517.232 in 1980 and $3.430.699 in 1979. 18 ASM.M $ 58.289,658 I~ The accompanying notes are an integral part ot these staternents 20

/ f g i Dairylend P4w:r Cooperathe t ^ STATEMENTS'OF SOURCES'OF FUNDS USED FOR CONSTRUCTION -4_ For the Yeo 5 Ended December 31, i'380 and 1979 '? pnn-em. ~/ h.plS00 d. 1979 a $ l ",Il I FUNDSGENERATEDINTERNALLY: f *ir " :4k y[ $ 3,430,699 ESl )l7 ' Nat margin. S Noncashitems- .=Jl Depreciation and araortization: Charged to operations. -13.298. 3 0 ] 7.691.450 Charged to clearing and other accounts ( 1.343.587A 1,186,620 j 4_2.418,005 l Amortizationof abandonedfacilities and other deferred charges (Note 4). E 1,S37,156 ~' - 1.294.729 j 1,144.817 Nuclear f uel amortization l,s i Funds generated by operations b 18.873.453 ', 15,450,742 i i t Retirement c,! capital credits [h [(1,913,tes)) (1,845,571) Funde generated internally. J.'.. I h 16,959.485 13.605.171 i~ l FUNDS OBTAINED FROM OUTSIDE SOURCES: / b d p = Long term borrowing from FFB and REA (Note 6). ;. cJ 38.004.795 1 50,793,034 Drawdown of Pollution ControlBond ~ . [? f*t 4'j proceeds on deposit with trustee [ ' 448,G35 a 1,494.331 Sale of normtility property [' 9 -3 875,600 O. (12.388.838)j 6,100,000 Short-term borrowings.. IS t Repayn.ents ollong-ter m obligations ar'd i f . s.

g(14.254.410)j changns in current maturities (5,788,594) jh

,1 Net iEnds obtained f rom outside sc,urtfs..,. p.11,90%774j 53,474,371 OTilER SOURCES (USIL)OF FUNDS: 1,1 l . ]q Purchaze of capitalterm certificates, not of change in subscriptions F.(877,844)3 (887.382) (Increase) decrease in oin6r investraents, net F .138.303 j (42.422) Abandoned facilities and other deferred charges, net .(521,349)) (12,493,175) Changes in other wor king capitalitems - J ~(41.138) l 264,996 y i Cash 4. .1757,ft9) f 1,180,991 { (1.003.085)q Accounts receivable. Invonfories p (5,576,932) s Prrpaid expenses n p ; P(5SS.487)j 740,827 Accounts payable r '.,.. M ... ;.j/ . (5.979.735) t (2,610.215) 1 IS7.77j7 ! (820,804) Accrued liabilities L .t f( Totalother uses of funds. .. 'r 1 (8,53B.067K, (20.244.116) a er - [Se ELECTRIC PLANT' ADDITIONS, net " ~ ~ ' 4 8 30,341.18B $ 46,835.426 The accompmytng notes are on integral past of these staternents khha. rg ee 7 b l. l a t 7* yI f

A a Y NOTES TO FINANCIAL STATEMENTS =

1.

SUMMARY

OF SIGNIFICANT construction. The rates used varied depreciation includes a factor to pro-7 ACCOUNTING POLICIES f rom 5% to 19.5% in 1980 and from 6.4% vide for estimated decommissioning Organization: Dairyland Power to 15.5% in 1979, depending on the costs, the eventual cost of retiring a Cooperative (Cooperative) is an elec-source of funds. nuclear genere,ing unit is uncertain tric generatmn and transmission Property Additions: The cost of at the present time. The Cooperative j. 1j cooperative association organized renewals and betterments of umts of continues to review its decommis-1 under the laws of Wisconsin and Mm-property (as distinguished Irom minor sioning cost estimates and it expects nesota. The Cooperative provides it, ems of property) is charged to eled that any increases in such costs will wholesale electric service to memhir tric plant accounts. The cost of units be recovered through additional distribution cooperatives engaged in of property retired, sold, or otherwise rates. the re ail sale of electricity to rmmber disposed of, plus removal costs, less consu ners located in Wisconsin. Min-salvage, is chargal to accumulated

3. CONSTRUCTION AND nesot s. lowa, Illinois and Michigan.

provision for depreciation. No profit or COMMITMENTS The accounting records of the Co-loss is recognized in connection with The Cooperative's 1981 estimated operative are m,intained in accord-ordmary retirements of property construction program is $17 million. ance with the uniform system of ac-units. Maintenance and repair costs Financing of construction is expected counts prescribed by the Federal and replacement and renewcl of to be provided by borrowings from the Energy Regulatory Commission as items less than units of propcrty are Federal Financing Bank (FFB), pro-adopted by the Rural Electrification charged to operating expenses. ceeds from the issuance of Pollution Administration (REA), the Coopera-Control and Industrial Revenue tive's principal regulatory agency.

2. NUCLEAR REACTOR Bonds, and short-term lines of credit Depreciation: Depreciation is pro-The Cooperative has operated a with the National Rural Utilities vided based on the straight Ime nuclear generating facihty under a Cooperative Finance Corporation met %d at rates which are designed to provisional operating license which (NRUCFCL omortu.e the original cost of proper-expired in 1975. The reactor is pres-ties over thea mtimated useful hvos.

ently being operated under on infor-

4. ABANDONED FACILITIES The provision for aep: wion aver-mal extension of the provisional oper.

The Cooperative was one of four aged 3.2% and 3.3% of de ireciable ating license. The Cooperative has joint owners in a project to build an plant balances for 1980 anu 1979. re-applied to the Nuclear Regulatory 1,100 megawatt nuclear generating spectively. Commission (NRC) for a permanent facility m western Wisconsin to have Amortization of Nuclear Fueh The operatmg license. Because of the been known as the Tyrone Energy cost of nuclear Iuel is charged to iuel Three Mile Island (TMI) accident. NRC Park. expense based on heat produced for is directing its resources towards TMI On March 6,1979, the Wisconsin tFe generation of electricity. The cost issues; therefore. its consideration of Public Service Commission issued an ot disposal of spent fuel is being re-construction pe:mits and operating li-order denying the application for a corded over the lives of individual as-censes, including the Cooperative's certificate of need for the project. On semblies based upon management's applicatmn for an operating license, July 24,1979, the co-owners reached estimate of such amounts. has been delayed.The Cooperative is an agreement to terminate and aban-Inenme Taxes: The Cooperative is unable to predict when a permanent don the project. At the time of aban-exempt from Federal and stato in-operatmg heense may be granted. donment, the Cooperative had in-come taxes. Accordmgly no provi-The Cooperative has announced curred or was committed for costs of sion for such taxes has been made in its intention to decommission the nu-approximately $11.5 million for its the accompanying Imancial state-clear facility by 1990. Recent events share of the project, including allow-ments. indicate that the manner of decom-ance for funds used during construc-Allowance for Funds Used During missioning a nuclear generating tion. Construction Allowance for funds plant and the manner of disposition of used during construction represents spent nuclear fuel may not be deter-the cost of borrowed funds used for mined for many years. Additionally, construction purposes and is capital-not all NRC requirements resulting ized as a component of electric plant. f rom reviews of the TMI accident have The amount of such allowance is de-been defined. While the provision for termined by applying a rate to the bal-anceof nuclear fuelin fabricatmnand certam electric plant additions under 9n2 = =

Dairylund Pow:r Cooperativa W .c t. w.- w m- --.--um-womo.mm-w The Cooperative has received ap-1979 'Ihe amounts due in 1981 include proval - from REA to reclassity its. REA Obligations (2%) $115,134.875 $13.962.000 of two-year FFB obliga-investmint in the Tyrone Energy Park ; REA Obligations (5%) 10.180.671 tions which tl e Cooperative intends as a delirred charge and began amor-FFB Obligations to reimance under the long-term com-tization of these costs over a 60 month (7.6% 14.6%) 146.359.000 mitments with FFB. period commencing March 1.1979. NRUCFC Obligations - In February.1981, the Cooperative ' Such amortization is to be recovered Prime plus %% 8.025.000 issued $16.100.000 in Pollution Con- ' through additional rates. Amortiza-8% 8,425.000 trol Revenue Bonds and $3.950.000 in tion for 1980 and 1979 was approxi-City of Alma. Wisconsin Industrial Development Revenue mately $2.3 million and $1.9 million. Polluhon Control Bonds Bonds. These bonds, unconditionally rzepecthely. '4.3% - 6%%) 13.600.000 guaranteed by the National Rural 301.724.546 Utilities Cooperative Finance Corpo-

5. INVESTMENTIN NATIONAL Less Current Maturities.. 6.428.002 ration, c'e due and payable in Febru-RURAL UTILITIES COOPERATIVF Total Long-Term Debt

$295.296,544 ary.1980 These vbligations are not FINANCE CORPORATION included in the above summary. The Cooperative has purchased or Long-term obligations to the REA

7. LINES OF CREDIT rubscribed to purchase approximate-are payable in equal quarterly princi-i To provide interim financing, the ly $9.7 million of unsecured subordi-pal and interest installments to 2015.

noted capital term certificates to be Pr ncipal repayments on the long-Cooperative has arranged lines of lasued by the National Rural Utilities term obligation to the FFB begin in credit aggregating $34.600.000 princi. Cooperative Finance Corporation. 1981 and extend through 2013. Pally through NRUCFC. Substantially The certificates will bear interest at Interest on the NRUCFC obligation R borrowings are at the prime inter-est rate. Information relating to bor-tha rate of 3% per year and will mature of 9.5% is due quarterly and repay, in 2020. 2025. and 2030. Of the above ment of principal is due in quarterly r wings under lines of credit during l amount $2.4 million will be pur-installments from 1981 through 1985. the years is as follows: chased during the period 1981 to 1984 Pr ncipal and interest payments on 1980 1979 in annual installments approximat-the 8% NRUCFC obligation are pay-I"illIO"*I ing.7% of operating revenues, as ablo quarterly through 1999. defined. The pollution control bonds are Amage borrowing Pa Max unt

6. LONG-TERM OBLIGATIONS a in the y a 19 1 t ough amou outstanding

$32.4 $28.4 The Cooperative's long-term debt 2008. oute. ding as of December 31. 1980 dubstantially all of the Cooper, Weighted overage interest rate L and 1979. consists of the following: ative's assets are pledged as collater-alior thece obligations. at year-end 17.7 % 15.5% 1980 Maturities of the Cooperative's Weighted overage interestrate RCA Obligations (2%) $109.257.045 long-term debt, subscriptions for ccp-REA Obligations (5%) 20.075.150 Ital term certificates and capitalized f r the year 14.7 % 12.8 % FFU Obligations lease obligations are as follows: (7.6% - 14.6%) 165.191.000 There are no compensating bal-NRUCFC Obligations - Year Amount once requirements or fees relating to 8% 8.285.103 1981 $ 23.063.537 the lines of credit.' 9.5% 9.278.326 1982 28.770.190 In December,1980 the Coopera- .. City of Alma. Wisconsin 1983 9.835.314 tive initiated a policy which allows Pollution Control Bonds 1984 9.740.874 member cooperatives to prepay their (4.3% - 6%%) _ l3.390.000 1985 6,954.826 Power bills. Under this policy the Co-325.476.624 1986-2015 257.209.520 CPerative will pay interest on these Lom Currant Maturities 22.251.327 Total $33'5.57L261 prepayments equal to %% less than ~

Total Long Term Debt -. $303.225.297 -

the current NRUCFC short-term bor-rowmg rate. r/.y n.ad -w_ -.m

i t I NOTES TO FINANCIAL STATEMENTS ._m~ - = =. _.

8. RETIREMENT Ol' Electric Cooperative Association Re-Wisconsin Department of Hevenue of '

CAPITAL CREDITS tirement and Security Program. Pen-the license fee matter at an aggregate The Cooperative's Board of Direc-sion cost for this defined benefit pen-cost to the Cooperative of approxi-tors has adopted the policy of retiring sion program was approximately mately $100.000 for all years through capital credits allocated to patron S t.103.000 in 1980 and S944.000 in 1979. 1978. The liability accrued at De-members on a "first.in, first-out" basis These contributions are determined cember 31.1979. exceeded the settle-so that at all times the Cooperative in accordance with the provisions of ment am'ount by approximately will not retain as patronage capital the plan and are based on the gross $670.000, which is reflected in the - any capital contributed or deposited solaries, as defined, of each partici-statement of revenue and expense for more than twenty years prior to the pant, Information from the plan's ad-the year ended December 31.1980, as current year. Accordmgly, the 1960 ministrator is not available to permit nonoperating margin. capital credits were retired in 1980 the Cooperative to determine its The Cooperative has been named l and the 1959 capital credits were re-share, if any, of unfunded vested in several lawsuits and claims, pri-tired in 1979. Implementation oi this benefits of the program. marily related tc. the construction and. policy is subject to annual review and operation of the John P. Madgett Sta-approval by the Board of Directors

10. CONTINGENCIES tion. Although the outcome of these and the HEA and nocash retirements The Wisconsin Departmer.t of Rev-matters cannot be determined at the l

are to be made which would impair enue examined the Cooperative *s present time, management and legal the financial condition of the Cooper-method of determining gross revenue counsel believe these actions can be. ative or violate any terms of its license fee for certain prior years and successfully defended or resolved agreements. in 1979 assessed deficiencies and in-without a material adverse effect on terest of approximately $1.1 million the financial position of the Cooper-

9. PENSION PLAN for those years. The Cooperative, on ative. E Pension benefite for substantially t he advice of legal counsel, contested all employees are provided through the findings ol the Department of Rev-participation in the National Hural enue. In December,1980, the Cooper-ative negotiated a settlement with the l

AUDITORS' REPORT l h4 [.-[, % $ k N'# [ ~2 [ ' % % I [ . c'.. J. g s O; yM J a " 4 j. _ y. - n e w semeestep u s. ian iste ane w e. Qggghamammmand as presemied hosela, .f N. i $p, t.w< . ps k... .g ggggg 3 c: . 7 ' T 7M;- - @ampuse.5

1. t n M N % M J T :..(,:

f

(. i f b.a===#t= h yy. 4 e ..n, . g w e nt.w,,"lg-s_; w;.g., m. ,,,,. + ., y a j, y . ~ .R,. _ . vm 7 + ,w ww; gy- , -. w,, y p. s. ym h. 4 sL.M.%H0*mmesomatMtea W ..-..g.,, mesmmeg e ... 1., [

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1 l l y [ ?; ,? i 1 e R Q- _a x y i i .j l; [ ~~.-- c.. 5 [ [ More than 350 friends and employees braved a warn July. 1980, afternoon to attend M dedication ceremonies of the 365.000 k WIPM station in Alma. 1 Wis. Bleachers and a rostrum were erected near the main entrance of the new generating facility. l l l p This is one of six air nonitoring stations near Alma. Wis., where data has demonstrated that air quality is well within state and federallimits. The monitoring stations were also used to fulfill %;k' state and federal requirements for Wd" %;J l planning of Project '87. which has now been postponed. W-1 W :.

• • W h ~%-

~ m-=te~. &w.wrL~

w

,~.ma:a This energy elficient earth .w . ; g,--- p(y$l% * ?mp!"y,:.eq%g,,f$&y,,p. "=- k w i lJ. g if]A) &jjgg.fR_ ' R} M n,A ~ sheltered home near Tomah. Wis..

(g l

is served by Oakdale Electric {fln,l<~Q 4Q pyyfug;QF*&g 0 lk:.,;l l.$$$ . ;V -fl h, YX-lf_ h%f Cooperative. and features an + {i electric off-peak heat storage 9 st;' } ; ", ~ ' ' * ! cystem. and has both passive and _ g[ w l9a } } 155 active solar energy system. The V . L 4 home was show-cased during the L^ lQ, l,A. s 4: ^'" - :l .,g. ~i., ' ',. Q 3 ~ _., Wisconsin Farm Progress Days at 5 ite' *-= p g, %e, x ~, 4~

?;

. ~..,

. : ;.,- c Tomah in July of 1980. s

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.( y_ N- . ~.. ~.*g,,, ..s, ;,, -

COMPARATIVE SALES TO MEMBER For The Years Ending December 31.1980 and 1979 n__ w - -- UNAUDITED Class A Member No.of Consume.rs kWh Billed Revenue Cooperatives 1980 1979 1980 1979 1980 1979 [If5[ 10.589 74E85517 131,962.670 h E 848 S 3.342.604 arr n M E43S 5.260 BayIield f46.8 E SPS 44.984,988 , nl.444.13 1.160,996 (N81.773.0IS j 62.084,371 [f 3.014,571 1,604.873 Buffalo 6 3,373 / 3,254 s Chippewa Valley. 4753j 4.706 Q 90.430.745 'f 67.448,987 O 2.218.50l 1,744.950 , j$,500i 6.530 3110.8N.000 j 109,336.901 f:l 3.00F,75. 2.862.197 Clark CrawIord E 3.9M i 2.631

E100,007 i 37.464,961

@ l.NE,300, 986.979 Dunn k4.3W) 6.676 F.M.103.014]3 5.470 iM.000.841 91.617,390

J3.116,851j 2.383.441 Eau Claire

}Z 4.7M 3 t 97.131,745 3.134.565' 2.487.407 Grant ' Cl4,W 2 4.873 bl0F,071.30SJ 105.922.237 d 3.541.5001 2,782.763 Jackson f4.8MJ 4.259

34.NO.934 52,567,728

& 1.780.900 1.347.211 1 Jump Hiver h s 8.3Nj 2.191 [;" i4L303,471/j p:l.800.333qL 5,076 x T51.004.W 50,893.813 1.874.447 1.317.652 Lafayette pt.3142 47.084.482 p 1,234.826 Oakdale s 8. SSP 8.034

15.173.m 1 101.806.227 e13.354.0F0 2,605.824 Pierce.Pepin i4,4Ns 4.445 M N.710.M41 68.599,365 2.231.531; 1.7t.i,Il5 Polk Butnett

' $11,N11 11.573 4 tan na amt J 106,362.408

3.400,900 2.692.903 TS,800j 5.523kJ41.0E9037 39.998.334

-1,300.353 1.027.677 Price Hichland. P ; 3.N42 2.812 R K40.803.3fS? 39,918.443 11.5 3.913 3 1,029.968 St. Croix E E4,1Nf 4.084 y:43.400.0069 80.918,896 L S.1W.050 ^l 2.090.463 M.8N.154 j 41.056.762 M 1.3E 304g 1.062.670 Tayfor it,Wj 2.623 p Trempealeau /18,0N 5.929 ' 100.N7.?N j 101.148,179 113.3FF,W j 2.618,417 r Vernon ! ? ?,5 7.174 P118.WL185 j 115,055,628 N O 73029 2,946.487 ,g Total Wisconsin 118.5 3 113.712 k1.NF.MO.3N) 1.593.365,115 m aan eaaq $41.095.423 W f Q% l {' [g k T ~as V MINNESOTA C 9 's "M i 3 Freeborn-Mower

8. 6 5.419 h!!4.786.440) 119.033,466 iS'3.8N31ti S 2,992.420 People's 4*.414,8 8 )

10.100 ilSF.50F.Mi 169,007,920 $$.1RMe*j 4.085,139 M 10,262 , ? 214.458,413 4 214.128.373 {e ; 4.19F.130 j 5,387,337' Tri-County g H.; (;y E,, . ;o Total Minnesota 4 M.tN : 25.781 '.' MF.799.738 j 502,169,759 $15.4N.9N.i 512,464.896 h?4Q( q ' kip. IOWA 41, C . jr> q R;8.13F.114 i sf Allamakee-Clayton } 2,NS: 7.333 S 114.804.750 2 115.712.736 [$ S 2,998,020 ' Cedar Vall.3 28,33J 2.963 h {W.511,MS I 62.197,178 (jlM?l02 1,583.556 Ilowkeye M OWj 5,588,i118,$M M4 116,182,223 SMj 2,968.108 Winnebogo. {'{R,85: 2.134 ' N.hs,9Ni 42.987,768 g l.M 1.109,797 w W

]lW1.51504" 337.079,905 W9.00s.NFL $ 8.659,481 Total lowa riR&3S]

18.010 [' / 4 g ( Au h ILLINOIS Jo-Carroli 9 N.NB.1N] 52.896.710 s$18, N $ 1.369.106 - 0 3.441 y Totals Excluding Municipals Ibc.952 1AEAd89.N3 j 2.485,511.489.W~ $63.588.906 Totals including 18 Municipels pM. j 2.741.331,383 {Q g $69.598.101 26 - _ = - -

Dairyland P;w;r Cooperativa STATISTICAL COMPARATIVE

SUMMARY

[_ .m._ .m --. ; ___,,,,,..,_,-,;.,._mm_m-ONAUDITED j-1900' l 1979 I !!EVENUE IS 82.754,517 ;i $ 69.598.101 Clars A Member Power Sales.... Class C, D & E Members Power Sales b 39,076,157 ? 30.949,544 Other Sales ( 98,874{ 125,176 hS121,929,548 5 $100.672.821 To t a l lle ve n uo.............. F 1.054.780 3 1.043,350 iNET Gl:NEll ATING CAPABILITY - kW. [i,3,859,357 ]3 lKil,0W ATT I!OU H OUTPUT NPT (000 Omitted) j Simm Generation. 3,217,167 Nuclear Generation M '214.548 200,932 flydro Generation [1

60,1511 69,708 Diesel Generation.

p 1,510 i 2,685 Purchased Power [:; 227,400 j 965,581 Total............. h 4,362,964 - 4,456.073 'Kil.OW ATT llOUH S All'S (000 Omit ted) is i

i. / 2.600,300 j 2.741,331 To Class A Members......

To Class C, D & E Members Power Sales 1 --1,583,332 e 1.533.065 p .{ Total...................... [ '4,183,712 4,274.396 AVEHAGC kWh COST TO MEMBEllSYSTEMS [1 Gross (!!cloro Margins) ($ .031824j .025388 Net (Alter Margins)....... g'. .331625 .024137 MI:MBI:H CONSUMEllS AT END Of YEAll .184,108 i 160.952 h: 674j 649 EMPLOYl:l:S(Average During Year) UTILITY PLANT AT COST F A Electric Plant in Service [ $436.C39,8021 5418.016.315 Construction in Progresa [; 16,254,257 j 15.584.818 3 Total Eh ctric Plant. [ $452,293.859 j $433.601.133 Accrued Depreciation {?:-110,485,396 i (96,196.317) ~s Depreciated Cost of Plant h $341.808,463 d $337.404.816 INVESTMI:NT AT COST F. 1 Per Consumer S. 2,083 1 2.096 Per Member System

S 11,708,844'}

$ 11,634.649 TOTAL ASSITS 8428.089,807 $422.492.975 THANSMISSION I.INE Il Q l Miles of 31.5 kV. (5 4 300.22 1 390.03 k Milos ol 69 kV. i-2,300.56 1 2,186.21 ,{500.29} 509.29 Mdea of 161 kV .o i 1 Total Mdes.._........ [ 3,000.07 4 3.086.33 F; . 338 4 235 DISTil!BUTION SUllSTATIONS................ .MI:MBEll SYSTI.M SUllSTATIONS DEMAND M AX. kW Eh 7531.513 4 539,275 MEMBEllSYSTEM ANNUAL 1.OAD FACTOR -%. I 55.0 - 52.6 NWh MONTill.Y CONSUMEll USE '! 297 1.301 "OAL BUllNED (Tons)........ k c 2.177.003} 1,618.448 OAL COST PEllTON BUltNED ~ j liarged Coal FSi i 25.35 1 5 24.86 l Sl... 24.81 ] L 22.32 - Unit Train ._T-- J TM7tbLaw:W4*Xdifet~MrenicV44H,R $tRa34&mp936M

"l...- SI... .. L.... - r .L DA!HYLAND POWER COOPERATIVE-MEMBER DISTRIBUTION COOPERATIVES CONSOLIDATED BALANCE SHEET.. 1980 ASSETS ANo O1sta DEoirS ! C es Ut ty F Depr U ty As g. Pro ety Accr esets A sk Close " A" M =,bers Plant 6 Amort. Plant Pat. Capsial & Ineest. & Det. Debeis Other Debits WISCONSIN Burron $ 12.357,332 3.904,040 8,453,292 3,265.737 492,303 2,002,411 14,213.743 Bayfield 9,317.692 2.826,058 6,491,634 290.554 247,011 1,099,522 8,128,721 Buffalo 4,160,328 1,420,316 2.740.012 1,493.085 191,575 851,580 5,276.252 Chippewa Valley. 4,376,769 1,537,916 2,838,853 1,477,042 314,841 586.394 5.217,130 7,152.324 2.422,778 4.729,546 2.591,792 679.840 1,476,615 9.477,793 Clark.. Crawford 2,576,200 804.899 1.771,301 907,349 161,674 419,667 3,259,991 Dunn 6,597,956 2.097,928 4,500.028 2,056.525 527,618 960,217 8,044.386 Eau Clairo 7.258.055 2.098.309 5.159,746 1.855,922 387,198 1.194.158 8,597,024 Grant 6.493,126 2,182,896 4.310.230 2.569.703 436.427 1,544,736 8,861,096 Jackson 5,840.030 1.589,804 4.250.226 1,172.294 327.974 1,039,545 6,790,039 lump Hivor 6.755,273 2,007,648 4.747,625 1,137,012 340,700 1,272.602 7.497,999 Lafayetto 4.339,801 889,181 3,450,620 1,397.407 204,262 307.956 5,360.245 Oakdale 10,270,294 3.310.372 6.959,922 2.600,929 845,720 1,496.072 11,902,649 Pierce-Pepin 6,152,570 1.944,128 4,208,442 2.364,667 426.333 1,061,162 8.060.604 Polk.Burnett 12.755,751 3,657,912 9.097,839 2,169.793 662.389 1,529,W1 13,459,092 Prico.. 7.257,011 2.4 4, % 5 4.817,156 207,711 245.865 721,262 5,991,994 Hichland, 4,089,302 1,164,479 2,924,823 1,003,212 200,979 455,441 4.584,455 St. Croix 5.852.696 1,671.715 4.180,981 1,784,755 394,174 1,125,180 7,485,090 Taylor.. 3.554.643 948,333 2.606.310 % 9.129 394,764 612.960 4.583,163 Trempealeau 8,384,981 2.239,823 6.145,158 2,410.417 456.282 1,804.457 10,816,314 Vernon 9,545,940 3.216.884 6,329.056 3,071.858 416.730 1.773.293 11,590,937 $ 145,088,074 44,375.274 100,712.800 36.796,893 8.354,717 23,334.307 169,198.717 ILLINOIS lo Car roll 5 5.065,920 1,518,897 3.547.023 1.060.978 306.844 657,407 5,572,252 MINNESOTA l'reeborn. Mower $ 10,835.257 3.')09,112 7,826,145 3.027.735 649,141 1.219,263 12,722,289 People's 15,795,065 4.668,374 11,126.691 3.408.686 704.074 1,929.910 17,169.361 Tri County 13,859,034 4,084.187 9.774.847 5,087,914 698. % 7 1,836,259 17,397,987 $ 40,489,356 11.761.673 28,727.683 11,524.335 2.052,182 4,985,437 47.289.637 IOWA Allarnakee-Clayton $ 10.605,779 3,703.804 6.901,975 2,705,301 606,376 1,980.223 12.193,875 Cedar Valley. 4.986,503 1.650.175 3,336,328 1.646.607 301.882 742,596 6,027,413 Ilawkeyo it 834,015 2.592.175 4.241,840 2.568.518 126,245 1,970.099 8.906,702 Winnebago 2M2,087 1,326,471 1,305.616 1,604.113 399,197 533.280 3.842.206 5 25.058.384 9.272.625 15,785,759 8.524.539 1,433,700 5.226,198 30,970.196 Total Distribution $ 215,701,734 66,928,469 148.773,265 57.906.745 12,147,443 34,203,349 253.030.802 Dairyland l ower $ 464.880,280' 123.071,817 341,808,463 11.197,782 73.083.562 426.089,807 Total Dist, & Dairyland. $ 680.582,014 190,000.286 490.581,728 57,906.745 23,345,225 107,286.911 679,120.609 DPC Patronago Copital (56,892,902) (56.892.902) Consolidated * $ 680,582.014 190,000.286 490,581,728 1,013,843 23,345.225 107,286.911 622.227,707 m-._ _-m (O Indudes 112.5aG.4221.ACBWH Orupnal Cost Adjustment. $l5.422.478 0f net Nuclear Fuel. 516.254.257 of Constructmn Work in Progress and mdudes $9124 465 capitaltml leone for borg. n. 28

Dairyl:nd P;wc r Cooperativ3 LIABil.lTIES AND OTHER CREDITS M..b wp. "rg * [ "r.q "Y i. Ia ud$.. 48,100 5,729,807 222,005 117.016 6.117,528 7,075,788 876,914 143,513 14,213,743 25,195 905,589 17,638 5.479 953.901 5,610.985 1.410,800 153,035 8.128,721 9,337 2.963,426 22,770 2.995.533 1,927,793 345,944 6,982 5.276,252 13.070 2,763,618 36,280 58.043 2,871.011 1,786,860 419,087 140,172 5.217,130 23,69'l 6,866,549 29,218 6.919,459 1,736,656 754,174 67,504 9,477,793 11,935 1,701.727 37,663 20.658 1,771,983 1,295,382 192.581 45 3,259,991 32,746 5,515,813 33,059 85,487 5.667.105 1,690,454 441,970 244,857 8,044,386 71,745 3,613.124 62.686 49,266 3,796,821 4.215,729 506,372 78,102 8,597,024 26,8A 5,009.969 16,881 5,053.670 3,308,429 491,214 7,783 8,861,096 20,304 3,532,502 2.881 3,555,687 2.801,708 354,925 77,719 6.790,039 24,220 1,886,334 46,811 1,957,365 4,265,991 1,180.293 94,350 7,497,999 15,308 3,182,fJ00 22,626 3,220,834 1,822,346 259.842 57,223 5,360,245 5?,650 4,693,116 51,200 4,796,966 6,326.043 670,563 109.077 11,902,649 18.211 4,224,538 63.184 9,764 4,315,757 2.853,493 728,470 162.884 8,060,604 63,720 4.819,816 73,751 37,675 4,994,962 7,710,802 650,211 103,117 13.459,092 27,859 909.919 18,465 7,241 963.484 4,559,658 310,826 158,026 5,991,994 18,728 2,270,880 28 2,289 R36 1,860,234 376,032 58,553 4.584,455 19,490 3,473,879 42,102 36,737 3,572.208 3,361,935 531,374 19.573 7,485,090 8.535 2,172,449 46,871 38,440 2.266.295 2,095,847 210,796 10,225 4,583,163 11,206 5,278,278 147,534 73,226 5,510,244 4,643,797 648,946 13,327 10,816,314 40,315 6,456.741 62,090 4,506 6.563,652 4,381,224 637,005 9.056 11,590,937 583,246 77,970,974 933,365 666,516 80.154.101 75,331,154 11,998,339 1,715.123 169,198.717 29,380 2,954,941 30,670 70,899 3,035,890 1,643.696 811,297 31,369 5.572,252 9.708 5,702,741 175,945 94,792 5,983,186 6,441,205 175,997 121.901 12,722,289 44,683 7,024,218 89,471 312.980 7,471.352 8.6 %,305 952,931 48,773 17,169,361 17,700 12,817,899 589,589 8.035 13,433.223 2,944,708 1.016,278 3,778 17,397,987 72,091 25,544,858 855,005 415,807 26,887,761 18.082,218 2,145,206 174,452 47,289,637 37,970 7.076,194 I84.260 7,298,424 4,1I3,114 734,097 48,240 12,193,875 13.880 2,760,150 44,837 552,352 3,371.219 2.496,141 113,267 46,786 6,027,413 27,580 7,501,960 163.110 318,294 8,010,944 11,140 733,937 153.631 8,906,702 11,375 3,325,045 229.758 3,56G,178 251.922 23,395 711 3,842,206 l 90.805 20,663.349 392.207 1,100,404 22.246,765 LS72,317 1,604,746 246,368 30,970,196 775,522 127,134,122 2,211,247 2,253,626 132,374,517 101.929,385 16,559.588 2,167.312 253,030,802 9,484 56,892.902 56.902,386 335,574,261 32,944, 6 9 668,801 426,089,807 85,006 184.027,024 2.211.247 2,253,626 189.276,903 437,503,646 49,503,947 2,836,113 679,120,609 (56,892,902) (56,892.902) (56,892,902) 785.006 127,134,122 2,211.247 2,253,626 132.384,001 437,503,646 49,503,947 2,836,113 622.227,707 l l 29 l

=._ e n, gr - 7.+. e DA!!!YLAND POWER COOPERATIVE-MEMBER DISTRIBUTION COOPERATIVES CONSOLIDATED STAYEMENT OF REVENUES AND EXPENSES.. 1980 "***~ T.=s' E""#.!"".. feWl."J %~P"a

e. T.fea s.i.s Cia s " A" Members Capital To+al Power Operations Maintenance Espense Expense WISCONSIN Barron S 7,049,490 6,590.418 5.032,199 111.645 364,817 219,439 Bayfwld 2 560,071 2,342.602 1,444,134 45,506 165,881 104.263 613 Buffalo 3.006.917 2,708,489 2,014,867 74,529 155,793 64.123 25,394 Chippewa Valley 2,968,459 2,849,379 2,219,200 63.878 141,504 59.549 Clark 4.853,044 4,592,740 3,639,271 111,101 166.437 88,379 Crawford 1,764,101 1,666.430 1,265,265 35,960 104.337 58.068 951 4,110.640 3.864,868 3.116,651 61,363 149,755 58,958 Dunn..

Eau Clairo 4,239,653 3,961,180 3,134.694 71,058 155,053 131,030 Grant 4,872,562 4,551,884 3.644.463 125.242 191,246 106,475 2.242 Jackson 2,717,410 2.528,772 1,774,885 56,701 170,493 97,550 Jump River 2.824,863 2,610,232 1,622,834 108,786 193,430 95.743 7.358 Lafayette 2.258.200 2.189.071 1,608,443 78.828 119.359 38,369 94 Oakdalo 5,479.951 5,062,317 3.465.044 228.849 247.903 182,297 1,329 Pierco-Pepin 3,653.915 3,467,172 2.669,564 37,084 174.115 71,493 5.331 Polk-Bur nett 5.464.033 4,924,757 3,409.959 112,347 381,161 174.783 2,108 Prico... 2,187,210 2.136.241 1.300.823 54,828 250,287 84,176 Richland, 1,955,985 1.809,734 1,325,188 64,618 73,968 48,870 St. Croix 3.506,106 3.444,780 2.708.059 72,889 165,706 71.462 Taylor 1,949,129 1.784,668 1.376,264 44.927 60,965 31,175 9,788 Trempealeau 5,152,561 4.757,970 3,576,117 191,760 203.790 '06,508 11,254 Vernon 5,752.025 5.123.730 3,857.229 156,480 267.661 173.968 241 S 78,326.325 72,967,434 54,205.153 1.908.279 3.903,661 2,166.678 66,703 ILLINOIS Jc-Carroll 5 2.528,774 2.281,351 1,704,425 48,170 139,719 62,757 159 MINNESOTA Freeborn. Mower S 5.637,640 4,979.369 3,604.472 244,599 308,952 124,156 Peoplo's 7,495.147 6.956.597 5,128,624 191,892 411,798 220.027 4,371 Tri-County 9.246,648 8,578.516 6.822.687 376.038 360,904 171,236 13,164 5 22,379,435 20,514.482 15,555.783 812.529 1,081,654 515.419 17,535 IOWA Allamakee-Clayton S 5.390,820 5.172.779 3,727.114 300,106 242,864 184.263 Cedar Valley. 2,635,879 2.719,683 2.063,525 27,157 149,349 65.496 17,077 llawkeyo 4,739,199 4,737,212 3,692.342 219,476 225,284 59,570 Winnebago. 2,202.850 2.234.027 1,767,357 96.552 95.111 37,631 6.361 S 14,968.748 14,863,701 11.250,338 643,291 712,608 346,960 23.438 Total Distribution $ 118.203,282 110,626.968 82,715,699 3,412,269 5,837,642 3,091,814 107,835 Dairyland Power S 121,929.548 100,090,221 4.387.487 66.515,620 6,104,460 114,737 Total Dist. & Dairyland. S 240.132,830 210.717,189 87,103.186 69,927.889 11,942.102 3,091.814 222,572 DPC Saloa & Capital Credits to Dist, Coops. S (82,754.517) (82.754,517) (82,754,517) Consolidated *, S 157.378,313 127,962,672 4,348,669 69,927,889 11,942,102 3,091.814 222,572 _m

• UNAUDITED 30

Dalryland Power Cooperative "EI.,du[i 3"' m"M". $"O S*M !".'U"' M."' D", 7.rin o.k D.a-im oui., to cr capitai s.p E p.-. rp 357,483 303,037 201,798 459,072 125,937 307,361 1,307 31,447 307.788 284,202 209,996 88,007 217.469 31,57J 137,178 317 9,026 120,573 192,018 101,811 79.954 298,428 - 72,%1 82,754 35 12,593 301.193 .198.896 79,846 86,506 119,080 41,892 82,%5 907 13,870 90,970 . 233,988 196,042 157,522 260,304 83,697 83,527 756 22,736 282,454 105,009 41,915 - 54,925 97,671 27,904 39.613 4,747 7,908 89,123 323,525 141,203 113,413 245,772 38,636 15.137 6,726 19,480 282,025 212.017 154,614 102,713 278,473 84,875 175,018 697 19,592 207,225 201,347 159,120 121.749 320,678 55,984 119.106 1,027 22,775 279,304 ~ 214.421 147,923 66,799 188,638 77,154 84,930 467 11,268 191,663 347,227 148,661 86,194 214,631 33,640 168.354 35,218 10,466 55,165 155,863 112,624 75,492 69,129 22,626 107,076 186 10,052 (5,455) 499,739 265,297 171,868 417,634 85,048 163,817 84,266 21.652 276.251 275,561 135.041 98,983 186,743 46,514 116,536 6,395 16,670 126,996 394,415 281.728 - 168,256 539,276 85,656 267,353 3,410 21.313 375,482 207,100 176,340 62,687 50,969 19,585 116.537 8,121 (37,862) 156,510 88,647 51,933 146,251 35,454 102,530 20 8,275 87.430 180,257 153,860 92,548 61,326 49,506 133,914 177 16,926 (6,333) 133,538 82,309 45,802 164,461 53,262 109,336 8,602 116,989 246,048 187,352 134,211 394.591 53,865 179,499 7,637 22,345 283,665 293,095 227,692 147,364 628,295 76,984 165,298 1,938 24,090 562,133 5,113,148 3,395,058 2,208,754 5,358,091 1,202,753 2,757,839 156,233 339,207 3,56G,779 162,035 127,677 36,209 247,423 18,068 59.639 136 10,633 216.349 - 360,203 274,365 62,623 658,271 79,263 282,320 2,437 22,805 475,582 ' 454,658 380.532 164,695 538.550 105.974 344,848 2.118 32.055 329,613 463,040 253,704 117,743 668,132 145,351 150,787 3,254 42,640 702.082 1,377,900 908,601 345,061 1,864,953 330,588 777,955 7,809 97.500 1,507,277 347,094 270,485 100,853 218,041 96,179 190,466 1,335 23,295 145,714 ' ' 248,612 106,227 42,240 (83,804) 47,662 109,359 1,820 12,880 (134,441) . 283,855 192,592 64,093 1,987 91,693 5 1,483 23,078 115,270 ? 136,716 69.951 24.348 (31,177) 60,463 5,214 ' 374 10,639 34,337 h 1.016.277 639,255 231,534 105.047 295,997 305.044 5.012 69,892 160,880 L 7,569,360 5,070,791 2,821,558 7,576,314 1,847,406 3,900,477 169,190 517,232 5.871,285 l 5,677,383 13.299,209 3,991,325 21,839,327 654,105 18,183.457 3,792,743 517,232 h3,246,743 18,370,000 ~ ' 6,812,883 29,415,641 2,501,51I 22,083,934 3,961,933 517,232 6.388,517 (517.232) (517,232) iD3,246,743 18,370,000 6,812,883 29.415,641 2,501,511 22,083,934 3,961,933 5.871,285 31

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