ML20084D808
| ML20084D808 | |
| Person / Time | |
|---|---|
| Site: | Fort Calhoun  |
| Issue date: | 12/31/1983 |
| From: | Jeffries R, William Jones OMAHA PUBLIC POWER DISTRICT |
| To: | Harold Denton Office of Nuclear Reactor Regulation |
| References | |
| LIC-84-126, NUDOCS 8405010482 | |
| Download: ML20084D808 (24) | |
Text
. - - -
l l
OMAHA PUBLIC POWER DISTRICT I
i j ~ . -
t
\
i J
, I I
j
l ,
'4 Y j ,p1
\
~^ l
< y. _' - , ,- -
.,....a_'
.I .
r,'
l)~
, , , c. - l t
Y '
F . fa. ' , d , ,, t #j \ l v~ %< g
,}' gg'"~=
\
~
+.
\t l e I
,, } '( ' e ; s';
l L'N. ,,c .> -
s ... ,
- r. 4.,
, ,. , x ,
l I l kb . . k hhbkhihk .2 . .. .._
kb l Omaha Public Power District l
( p1 0 S 0 1 0 1 0 2 11'11 ;1 1 I Im ADOCK ODOOO l 1
OMAHA PUBLIC POWER DISTRICT EXECUTIVE OFFICES Electr'c Building 1623 Harney Stroot Omaha, Nobraska 68102 TRUSTEES Morgan Guaranty Trust Company of Now York, New York, Now York (1954,1956,1958, 1961,1966,1968, and 1969 Donds)
The Northorn Trust Company, Chicago, Illinois (1972,1973,1975 Serios A and D,1976 Series A and D, and 1977 Series A. O, and C Donds)
PAYING AGENTS Tho Dank of Now York, Now York, Now York (1975 Series A Donds)
Morgan Guaranty Trust Company of New York, New York, Now York (1954,1956,1958, 1961,1966,1968,1969,1972,1973,1975 Series D,1976 Series A and D, and 1977 Series A D, and C Donds)
Continental litinois National Bank and Trust Company of Chicago, Chicago, Illinois (1954, 1956,1958,1961,1966,1968. and 1969 Donds)
The Northorn Trust Company. Chicago, Illinois (1972,1973,1975 Series A and D,1976 Serios A and D, and 1977 Series A, D, and C Donds)
First Northwestern Trust Company of Nebraska, Omaha, Nebraska GENERAL COUNSEL Fraser, Stryker, Voach, Vaughn, Mousoy, Ol son, Doyer & Bloch, PC., Omaha, Nebraska About the cover
- The cover of Omaha Pubhc Poner Distitct's 1983 Annual Report reflects the utility's continued commitment to a multi phase Energy M,unagement Program implemented in 198? Part 1 of the 10 year program centers around off.
peak tratheling and is designed to burid load during the wintetmonths when femandislow Part?Of theprogram, also implemented in U8?, is an Intensive communicairons effort to help out customer owners make wise decisions about energy use and purchases On-peak controls stil be the focus of Part 3 of the program, which is cuttently ist the research stage and is espected to be fully implemented in the mid 1980s a1, Ja.,J
. . . ...-....-..._.-..-+.,%......w--. .-..- --.. ~..-.. ..r.~ _ -. ._ ~ _ . _ .~ . e . . - . ._ _ - -.- ~. - .
OPPD SERVICE AREA: 1983 HIGHLIGHTS 5.000 SOUARE MILES The District serves 570,000 people in all or part of Operating Revenues 13 countios in oastern Nebraska. Electric servict Operating revenues for 1983 woro $272,847,000, is provided to the following 48 incorporated com- an increase of $39,528,000, or 16.9%, over 1982 munitios at retail: operating revenues of $233,319,000.
Alvo Colon Louisville Rogers A&ngton Cook Manley Ruio Operation and Maintenance Expenses Operation and maintenance expenses for 1983 A kNn phis t Dend woro $156,950,000, an increase of $11,284,000, or Delievue Elmwood Morse Bluff spnngfield Dennington Fori Calhoun Murdock Valley 7,7%, over 1982 operation and maintenance Doys Town Gretna Nickerson Washington expensos of $145,666,000.
Durr Herman North [ lend Waterloo C rter Lake Hooper omaha Weep'no Net Operating Revenues (lowa) lthaca Papilhon Water Cedar Bluffs Kennard Peru Winslow Not operating revenues, before deprociation and Cedar Creek Lavista naiston votan decommissioning, were $106.863,000, an Cer:sco teshara increase of $26,775,000, or 33.4%, over 1982 net operating rever uos of $80,088,000.
C?Po also serves Diair. Elk Creek. Oresnwood. Syracuse, and Tecumseh at wroiosale.
p~ m Not earnings reinvested in the business totaled ew 5 f $27,929,000, an increase of $26,049,000 over t _
L ensman
_gR 1982 net earnings reinvested in the business of 5' 88
- g.g General Business Sales
[ seer j General business sales to District customers were
- m. 5,405,653,000 kilowatt hours in 1983, an increase I.. , , y '
, of 354,812,000, or 7.0%, over 1982 sales of gaim" ~ "sua 5,050,841,000 kilowatt hours.
usussus 3 g'.A -
[ , .)h Average Number of Customers A
q insmas The District served an average total of 219,355 i / customers in 1983, an increase of 2.799, or 1.3%,
[ n=g-% over the 1982 average total of 216,556 customers.
[,",,, -~
i%
.4 I Average Residential Use
[0' "E Average annual use per residential customer in 1983 was 10,926 kilowatt hours, an increase of
(.. * <
,2 1,028, or 10.4%, over the 1982 average of 9,898 kilowatt hours. The average annual residential use r=
'~7% by OPPD customers was 23.8% above the y "E national average of 8.826 kilowatt hours as com-
. . ' h;,y/ puted by the Edison Electric Institute.
a r~
p
- p. b Average Residential Cost
[
e
$g _, - A The District's residential customers paid an aver-age of 5.14c per kilowatt hour during 1983 g'aus
'7f y
W W ]y compared to 3.39c per kilowatt hour in 1946, OPPD's initial year of operation. OPPD customers
~. . f paid 25.6% less than the national average of b_ m.J w,-aan 6.91c per kilowatt hour as computed by the Edi-son Electric Institute.
1983 Construction Espenditures Expansion and improvement of system facilities during 1983 required construction expenditures of
$37,011,200.
i l
l PRESIDENTS REPORT !
As a publicly owned utility, in early 1983, the Board of the Omaha Public Power District Directors approved now rato has special obligations to the schedulos which were designed peoplo wo servo. At the samo to increase annual revenuo by time wo have responsibilities to 9.7 percent or $20.7 million. A our bondholders and all cus- second increase of 6.6 percent
, tomer owners to maintain the was approved for April 1984.
] financialintegrity of this utility However, as a result of manago-l and to operato in a professional ment initiated cost cutting
! and businesslike manner. I programs and increased energy
)
am pleased to report that OPPD safos, the second increaso was l
succeeded in thoso areas reduced to 4.4 percent.
during 1983.
i The cost of electricity remains During the year, wo initiated low which is a reflection of pro-l' ( ./ several programs aimed at fossional management, increasing communications with favorable fuel mix, sound finan- i our customer owners. As part cial planning, and public
< of thoso efforts, a 21 member ownership. OPPD customers !
Citizens Advisory Committoo have consistently paid about 20 has boon appointed by the Board percent less than the national of Directors. This committeo average for their electric servico.
represents a cross section of in 1983, this cost advantago customer owner interests and was nearly 26 percont. Wo j ki has boon asked to examino and expect the prico to romain favor-j mako recommendations in throo ablo in the forosooable futuro.
jD d- i t , . specific areas: oloctric ratos, I Rkh,trd e Jettries management componsation, OPPD will soon havo 2,900 now IP5'deol oI and customer communications. customers to servo. Negotia-h c tions for our purchaso of the l k'jp;I ,t)
, c, Tho estabbshment of this com-j mittoo illustratos our interest in Blair, Nebraska, electrical gon- .
6 being moro responsivo to our oration and distribution system I
, g, Godt.#thers customers' needs. Wo bokove it woro completed in lato 1983.
Investments. Inc , will also help promoto a botfor The purchaso prico was l Omaha public understanding of tho $5,950,000. On April 1,1984. all complexilios of the utility Blair electric system properties i
business today. will bo transferred to OPPD, and wo will begin providing thoso l Customers woro also Divon an customers with retail electric i opportunity during this past year service. Thoso additional cus-to offer their ideas on how tomers will result in increased OPPD should dosl0n its future operating officiencies for OPPD olectric ratos. This opportun'ty through improved utilization of was provided through a series of our existing plant, manpower, open pubhc mootings hold lato and equipment.
in the year. Although a number of diverso opinions woro I would be remiss at this point if expressed, all will bo Olven seri- I failed to recognizo the loador-ous consideration in the design ship role of Gono P. Spenco, of futuro rato schedules. who proceded me as president i
4
l BOARD OF DIRECTORS l
and who guided this utility Mrv l {U Keith B. Edgulst lCe President through the past two years. He conhnuos as a dJrector, and l President.
l i look forward to his assistar.co in #####NJ**'f8 the future Two other directors' 4 $#f# inc" Keith Edquist and Mary Alico ' i j OmJhJ IN//evue Ikico, also served this utility wofi -
in recent years. lR) Warren R. Swigart
~
> i .
l Secretary Thvoo now members began sor. \
vice on the Board in 1983. N Realfstate BroAer, Warren R. Swigart was efected w Oscar Manger j C maany Omaha to a six. year term whtch began in January 1983. He is a former g j f Stato Senator and Omaha ig City Councilman. In March 1983, fgj y ,,y j fj,,g,,,
l Morris F Miller and Dennis
~ ~ "~ 7 3 Treasurer
. Jorgenson were appointed by Retired. Veterans Governor Robert Korrey to fill .I Administration, i
' vacancios created by the death OmJha of Director Frank J. Hogan and '
the resignahon of Daractor -
(R) Denn/s D. Jorgensen Michael E Egan. Both Mr. Miller 9 l
l and Mr. Jorgensen bring strong
)
t ('
'e
- d Board Member President.
business exportiso to the Board , ' *# #
! With 1983 behind us, I now look forward to another successful year. I am confident that this )
i Board of Utroctors will conhnuo .
! to work closely with the man- '" ~ <
agement team to Lorvo all of "I (l/ Morris / Miller
'V ! BoardMember OPPUs customer owners in tho best manner possiblo
, ~
[W Retired. Omaha National Bank' Omaha r - '
N ,
j [I' /4[ *"
b
/
Yj, l
' ,)
- R) Gene R Spence oard Member
( j # Securibes CompJny Omaha Hich:rd R Jeffries '
President ,
r j
l l
l l l M
t GENERAL MANAGER'S REPORT The primary operating challenge way with an 11.4 porcent for Omaha Public Power District increase.
in 1983 was to strengthen the utility's long-term financial posi. The increased energy sales, tion. It was a challengo well mot. combined with the 0.7 percent rato increase offective with April At year end, net earnings had billings, were responsible for a
- reached an all timo high of 16.9 percent increase in
)
$27.9 million compared to $1.9 operating revenues for 1983.
million the previous year. The Operating revenues totaled j increase reflects the offoc-tivonoss of a number of
$272.8 million.
Outstanding performanco by
, \ corporato programs and pro.
vides an accurato baromoter of OPPD's major generating plants
\ <
was a key factor which por.
s
/ OPPD's overall financial health.
& mitted OPPD to moetitsload and cc Activitios to reduce construction, onorgy noods throughout the
% operation and maintenanco year. Of special noto is the s
o and short term financing costs record performanco of OPPD's contributed substantially to the nuclear plant. Tho Fort Calhoun
' financial recovery. In fact, the Station operated around the f' , P ,
$37.0 million spent on construc. clock from May 5,1983, until i' '
'^* tion in 1983 was the lowest in March 3,1984. That's a continuous run of 302 days,99 l- 15 years.
\ / \ days longer than its previous
. . .s in May, OPPD authorized the record which was set in 1982.
3, A . _ .1 issuance of $75 million in Progress was evident in all Somard W neinket Tax Exempt Commercial Paper cencai u.m,wer and (TECP). Tho majority of the areas of the corporation's long-C/nell wcutwe O/hrer TECP proceeds was used to term Energy Management Om.rtu I'uhhc todoom earlier electric revenuo Program which completed its
/wer Dotnct notes which had boon issued first full year in 1983. The pri-at higher interest rates. This pro. mary emphasis of this throo part gram resulted in a $1.2 million program is directed toward savings in the first sovon months shaping customer usago to the and is expected to reduce utility's availablo capacity today OPPD's interest costs $2.6 mil. and in the years ahead. This will lion by 1985. ultimately result in more favor-ablo rato control. Part 1 is an Another major factor in the 1983 offort to increaso off peak oloc-financial recovery was an 8.0 tric usage. Moro than 1,000 now porcent increase in total enor0y electric heat pumps installed sales. Sales to other utilities, on OPPD's system testify to the which increased 17.8 percent, progress of this offort. Part 2 is played a significant rolo in the a Orowing ondeavor by this overall increaso. Retail enor0y utility to provido morn information sales woro also up 7.0 percent on energy matters to our cus-for tho year with increases tomer owners. This is an intenso recorded in all customer catego- offori by this utility to help our rios. Residential sales led the customors manago their energy Es
l i
i ASSISTANT GENERAL. MANAGERS l
1 use wisely and take control of their energy bills. Part 3 is a ~~ ~~~~] IlI g,f g70[3ffn General Afanager f long term offort to control on-peak load Orowth. This portion of the program, which is cur- (R) Eldon C. Pape Senior Assistant l rently in the research phase, is
((3-', "w/
General Afanager l expected to produco substantial -
l bonofits in the years ahead. '7g ~
l in Apnl, Fred M. Peterson i was appointed assistant gonoral l manager. Mr. Petersen, who for-i merly served as executivo assistant and as division man- L _. 0 i ager of Public Relations, has n 2 "*
j assumed responsibility for Cus- 7
- - - - - (L) Kenneth S. fle/ ding
- tomer Sorvicos Operations, '
,jed Assistant General l Governmental Affairs, and i Afd"dG0/
)
Public Relations Divisions. Ho , J
\ replaced Daniel D. Volly, who ,
IR) Williarn E. Miller i rotsrod af tt.r 25 years of servico. 1 .
& Assistant General i The outlook for 1984 is promis-i A,} , , Q + ,
AfanJger I inq Wo will continuo providing , g our customers with reliablo elec- g,Ty \s 1 inc service at a reasonablo cost l Wo will expand our loadership -
h..
role in energy matters Wo will continuo to provido a quality f;'
i g' s worklife for our employees, and , )
we will maintain a sound finan- , ' * ~ "
cial position for this corporation. (ll fred M. Patenert Assistant Gene /JI Wo look forward to meeting the Afanager j challonges inherent in accom- .
plishing theso goalt (g, g,, g g, gg,gg, 5 SpeciafAssostant bencial AfJnage!
/,,
. 1
-- f . .
3 v,
j l >
i
! Dornard W. Hornicok .
- General Managor and N / , '(
j Chief Executivo Officer i i ? .J l
i i
E
t 1983 OPERATIONS REVIEW l T .**
~
Operations throughout Omaha Public Power Distnct in 1983 first year deposits totalling moro than $1,7 million.
-e reflected the strong corporato OPPD's coal fired Nebraska City y commitment to provido custom- Station, in its fourth year of oper.
C l ers with reliablo electric service ation, produced 2,536.269,000
, P g l at the lowest possible cost. kilowatt hours in 1903. This plant, i Evidence of this commitment can which is OPPD's singlo lar00Sl a -
c- readily be found in overy unit, was available to produco operational area electncity 02.3 porcont of tho
>M {
< j It was an outstanding year for the company's major generatirv) timo dunng the year. It was out of service for six wooks in the units which collectively produced fall for scheduled maintenanco.
6,302,725,400 kilowatt hours of e electricity Of the totalgenera- Production at the North Omaha P wer Station, OPPD's oldest
' lion,50 2 percent was produced from coal,43.5 percent from coal fired generating facility, totaled 1,032,529,000 kilowatt-SENEHIEEEER nuclear fuel, and the remaining hours in 1983. The favo units at Cd 1 e*
5 "" q'~
0 3 percent from oil arxi natural gas. Tho nuclear poworod fort Calhoun Station lod the way Hu) 629,6004ilowau facility aro used primanly as cycling units, with 2,730,535,900 kilowatt- folk) wing customor loads hours of net generation. US "Nluired.
" L- ^
All major gonorating units woro Tho ForI Calhoun unit was out i n j of servico for refueling and main- availablo for full servico dunng
- tenanco tho first quarfor of the the extended summer heat year. It camo back on lino in wavo in 1983. As a result, early Apnl and was availablo to OPPD had no difficulties in produco elocincity 09 5 percent mochng the heavy air corxtition.
of tho timo dunng tho ensuirxj irvj load. A now system peak fool cyclo which orxJod March 3, load of 1,411,500 kilowatts was 1904. During tho first quarter set August 10 at tho height of
- Y *
- refueling outago, the major com. tho summer hot spell. Tho 1903 a .
- y a e., sa
- 1- 'U 4 . ponents of the nuclear steam sovoro weather extended into supply system urxforwent onton. tho winter and resulted in a now
]
J sivo inspections. All woro fourx1 wintor peak of 950,100 kilowatts
~
ei [ On Docomber 21,
~
> to bo in excellent corxhtion.
L ,
OPPD took stops fast year to OPPDs Storm flestoration Plan i
onsuro financing is availablo for agmn proved offectivo in 1983 o . the eventual decommissionitx; folkswitx; a lato November snow
. k of the Fori Calhoun unit which is arxlico storm which was accom-
, licensed to operato through panied by high winds. Tho 2000 A decommissioning plan, southern servico territory was trop) Senior ronununir.stions Irrhneruns Jun Soudry arlopted 6n early 1983, alk)catos tho hardost hit whero noarly 300 Hetti and Da A lidtette trenter) and Senoor Conununications tho estimated cost 5 to custom. power polos and associated logroert Dr.in (it.sgrit test over stron or new IW r/unnel ors receiving benefits from transmission bnos woro downed nwron.fic mmmung aftons rqupment #nstaurd in l') 3J the plant over its romainirv) life. by a combination of ico arxj (t'otton0 f te 43tt 300 AJon #tt nurte.sr concred fort A separato decommiss6oning witxj, leavirx) about 2,000 cus-r,rhoun Station rit.#Nahrd a orn trrord for mntutuou' furxl has boon established with tomors without power. Crows operation dunna IM)
l worked around the clock making Plans call for continued expan-repatis to rostoro service to cus- sion of the program to cover all tomers The restoration work areas of Distnct operations.
l required nearly 13,000 man' Favorablo relations between hours and cost more than rnanagement and labor contin-M00,000 ued in 1983. Two year contracts Major construction projects were ratified with two locals of ,
during 1983 involved additions the Intsnahonal Brotherhood of A' and improvements to OPPD s Doctncal Wmhers and with g transmission and distribution Lodge 31 of um Intsnahonal y
. f g system in the rural areas,100 Assocaton of Machinists and p .- g mitos of underground cablo was Aerospaco Workers Thoso 4 g og mstalled as a replacement for unons n'pmsont Jnmo than 80 g percent of OPPDs employees. \
overhead lines Also a 13 milo ,
noct on of 101.000 volt over.
head kno was replaced tmtween A 20 percent reduction in the number of work related injunes
'f substations in Auburn and was experienced in 1983. Tho 7,4, I Hurnholdt This is part of a kno reduction is attnbuted to greater f? <~* '
y which was first constructed in employeu awareness and par.
1940 Now substations were t cipation in company sponsorcd ,, y completed and energized near safety programs. An employoo % ,;
fremont and in Omaha, upgrad- contest produced a now corpo- '
inq servico to customers in the rato safety slogan: Safety - ,&
surrounding ama A Good Habit." k *Le . '. . ..
Work conhnued dunrwt the year Impr ved managenal decision- ,
on mntallation of a 600-channel ma ng is mpected fran futum ~
(
nucrowavo nystem which will apphcatmos of a now c ""
putented Corporato Planning P HE, u replaco an obsoleto 300-channel System (CPS), currently under k,k,$$,A}
nystemin uso sinco 1970 The now system h scheduled for developtnont in um Skategic nnma Du getsand omcasts
%n % ,,,, , _
t,,,
,' % < %Q.
(,
complotion in early 1984 arx! will O V *U" ' 8 ""* *0""9 5"U"I provido channoM for a now baso motulo radio system. t of wiH mplace an mishng conb FM3EBE p 3gqlg TMW ' gigg -
Toqother, tho two systems will putonted cupmato nmdel Dm g & g ;a 4a4 hnk corporato faahtios through- w UW to pmpam
~
-- _ __7 tml OPPD s b,000 squaro milo bom sM mW lonpango @
service area yead finandal fuocads of Um Distnct a futuro hnanong arx)
I ur thor mpansion of tho revenuo toquirements, it will utihty's Work i orco Management interfaco with other planning Program during 19n3 has nystems utihted by the District , ,
rimulled in savinqs through for load fotocasting, fuel plarb '
m, i irnproved operaf tons off Concy ning, capital experKlituto and g
Iho program, whith now covers operalonal panning hoCPS (nan Instrument and Control lechnician letty HonclI ma4e apptonmately 6'i percent of tho M to 60 oporatonal by repa,ts dunna scheduled maintenance on one of hw non nupervmory work forco, has November 1984. genetahng units JI the North OmahJ Poner SIJhon rosulted in cumulativo savings Other projects urufertaken in (bottom) CommumcJhon w!Ih cuttemer annets in 1983 of about $2 rnalkon to dato. 1983 to improvo operating Jhout It'e benefitt at the ricctric heJIputop 15 Jn troportJnt part et Orr0 s inergy Afandgement ProgrJm a ten year plan to Improse out 10JJ IJctor. InctrJ%e trwnues Jnd defer construction of genctahng taohhes AftchJmcal $ t-craht!Jac h Sargent loads test eqwpment anta one at 01 P0 s f schtcles disptJymg htJI pump mr$5JQCs I
1
1983 OPERATIONS REVIEW (CONTINUED)
" ~
. =7 officiency and to reduce costs j include the Materials Manage.
M 9 . <3# mont System (MMS) and the ITRON Motor Reading System.
The MMS is an improvement u!) V, program initiated to reduco QTmg inventories throughout the N company and to contralizo pur-chasing functions. ITRON is
- - replacing the motor roador's I pencil and cards with a hand-hold microcomputer which allows the motor reader to record moro customer informa-tion in the field and to verify readings on the spot.
J Lato in 1983, OPPD reached an agrooment to exchango onorgy with Minnkota Power Coop-4 orativo, incorporated, of Grand f
'/ Forks, North Dakota. Minnkota serves electric customers in Minnesota and North Dakota and is a winter peaking utility.
Under tho agrooment. OPPD is providing up to 70 million j
kilowatt hours of electricity to Minnkota botwoon November f
1983 and Apnl 1984. Minnkota A & will then dotiver an equivalent amount of onor0y to OPPD in
\
the summor of 1984. This D' agroomont providos each utility with a supply of low cost enorgy during its high uso period, helpin0 to hold down cotts to the consumer.
4 a
n b
- s-. g (top) Supervisor of hteter Routes Skip Brugger (Icit) esplains the operation of new computented meter reading equipment to Ateter Header Det enn Schmidt and Section Afanager HuralOperations Win Knst The system was fully smplemt'nted In rJrty 1110[
bottom) Journeyman ionemen Dan Covert (lett). Dan
{nhitney (operat.:ng equipment) and Bob Jansen (rrght)
Imtalla new pole near Bellevue. Nebraska, as part of Ol'I'0 s orgoing program to ofgrade transmission equip-ment and faalities
__1 _ _ _ _ _ _ _ _ _ _ _ _ ___ _ _ . _ _ _ _ _ _
FINANCING AllDITORS' OPINION In December 1946 Omaha Public Power District Omaha Public Power District:
funded the purchase of The Nebraska Power Company with a bank loan for $42,000,000. Reve- We have examined the balance sheets of Omaha Public Power District as of December 31,1983 nue bonds were issued in February 1947 to pay and 1982, and the related statements of net earn-off this loan. Since then, $1,357,200,000 of add.i-ings and accumulated earnings reinvested in tional revenue bonds have been sold.
the business and of sources of funds for construction The District retired $12,630,000 of revenue bonds for each of the three years in the period ended in 1983. These retirements bring the total of bonds December 31,1983. Our examinations were made redeemed and refunded through 1983 to in accordance with generally accepted auditing
$552,695,000, leaving an outstanding bonded standards and, accordingly, included such tests of debt of $846,505,000 at December 31,1983. The the accounting records and such other auditing District has not issued revenue bonds since procedures as we considered necessary in the {
December 1977, During 1983, $47,417,000 of circumstances.
interest expense was charged to operations on in our opinion, such financial statements present outstanding bonds, representing an average annual fairly the financial position of the District at rate of 5.6%. December 31,1983 and 1982, and the results of In June 1983, the District authorized $75,000,000 its operations and the sources of funds for con-of Tax Exempt Commercial Paper. The proceeds struction for each of the three years in the period of this issue were used to pay off the $55,000,000 ended December 31,1983, in conformity with gen-of 9%% Electric Revenue Notes due February 1, erally accepted accounting principles consistently 1985, with the balance being devoted to finance applied during the period subsequent to the construction projects and other corporate pur- change, with which we concur, made as of Janu-poses. As of December 31,1983, $67,500,000 ary 1,1981 in the method of accounting for of commercial paper was outstanding and deferred production costs, which is described in
$7,500,000 drawn against the supporting Note 8 to the financial statements.
revolving line of credit agreement. During 1983,
$2,414,000 of interest expense was charged to operations on outstanding commercial paper. /
Outstanding notes at December 31,1983, totaled
$30,520,000. During 1983, $4,690,000
[4 y 9g)
,, j
/
of interest expense was charged to operations on DELOITTE HASKINS & SELLS outstanding notes, representing an average Omaha, Nebraska annual rate of 7.8% February 24,1984 Gross Electric Plant amounted to $1,208,677,000 and Nuclear Fuel (at amortized cost) amounted to
$156.876,000 at December 31,1983. Accumu-lated earnings reinvested in the business inacased
$27,929,000 to a total of $354,337,000 N mg 1983 while total assets increased $20.518,000 to a total of $1,390,778,000.
l l
11
...._.-.,,........-.y
OMAHA PUBLIC POWER DISTRICT BALANCE SHEETS, DECEMBER 31,1983 AND 1982 ASSETS NOTES 1983 1982 (thousands)
UTILITY PLANT- At cost: 2,6 Electric plant (includes construction work in progress of $40,357,000 and $48.420,000, respectively) . $1,208,677 $1,176,777 Less accumulated depreciation. 302,796 268,856 Electric plant - net. 905,881 907,921 ,
Nuclear fuel- at amortized cost . 156,876 146,658 Utility plant - net . _12 062,7_51 1,054,579 SPECIAL PURPOSE FUNDS: 3 Construction fund . 40,276 24,867 Electric system revenue bond fund (net of current portion) . . 43,787 44,044 Debt service fund 10,547 10,691 Segregated fund (See contra) . 4,557 4,977 Revenue fund - decommissioning. .
1,781 Total special purpose funds . . . . 100,948 84,579 CURRENT ASSETS:
Revenue fund - cash. . . 25 24 Revenue fund - U.S. Government Securities (at amortized cost which apprcximates market) 26,326 36,865 Electric system revenue bond fund - current portion . . . 3 23,771 23,633 Accounts receivable - net. . . . 31,326 19,592 Unbilled revenues . 9,300 7,400 Fossil fuels -at average cost 41,052 37,007 Materials and supplies - at average cost. 17,425 17,811 Deferred production costs . 2,450 4,693 Othcr . .
3,369 3,440 Total current assets . 155,044 150,465 DEFERRED DEBITS . 4 72,029 80,637 TOTAL. . .. . . $1,390,778 $1370,260 See notes to financialstatements.
LIABILITIES NOTES 1983 1982 (thousands)
LONG-TERM DEBT: 2 Electric system revenue bonds - net of current portion:
Serial bonds,3% to 5.9% due annually from 1985 to 1999 . S 239,240 $ 252,395 Term bonds. 5%% to 6%% due at various dates from 1995 to 2017. 594,110 594.110 Total long-term bonds . 833,350 846,505 Electric revenue notes - commercial paper series. 75,000 Electric revenue notes due September 1984, variable rate . 30,000 Electric revenue notes 55,000 Subordinated notes due December 1990,6%%. . 520 520 Total. 908,870 932,025 Less unamortized discounts . . 9,850 10.598 Long-term debt - net. 899,020 921.427 COMMITMENTS AND CONTINGENT LIABILITIES 6,7 LIABILITIES PAYABLE FROM SEGREGATED FUND (See contra) . 3 4,557 4.977 CURRENT LIABILITIES:
Current portion of long-term debt . . 13,155 12,630 Electric revenue notes due September 1984, variable rate. 30,000 Accounts payable . . 18,101 24,576 Accrued payments in lieu of taxes 8,130 6,660 Accrued interest. .. . 20,280 22,387 Other . 4,224 4.664 Total current liabilities . . . 93.890 70.917 OTHER LIABILITIES:
Nuclear fuel disposal costs . . 32,327 39,739 Decommissioning costs . . . 1,781 Other . 4,866 6.792 Total other liabilities. . . 38,974 46.531 ACCUMULATED EARNINGS REINVESTED IN THE BUSINESS 354,337 326.408 TOTAL. .. .
SL3_90 778 $1,370,260 W
E*E
I STATEMENTS OF NET EARNINGS AND ACCUMul.ATED EARNINGS REINVESTED IN THE BUSINESS FOR THE THREE YEARS ENDED DECEMBER 31,1983 NOTES 1983 1982 1981 (thousands)
OPERATING REVENUES . .
$272,847 $233,319 $222.546 OPERATING EXPENSES:
Operation:
Fuel . 68,291 73,866 77,399 Other production . 24,927 16.692 13,098 Transmission. . . . 1,658 1,526 1,327 Distribution . . .
8,358 7,671 6,506 Customer accounts . . . . . . 5,751 5,326 4,853 Customer service and information. .. 2,319 2,229 1,849 Administrative and general. 20,013 17,666 14,836 Maintenance. . . .. . . . .
25,633 20.690 16.267 Total operation and maintenance. .
156,950 145,666 136,135 Depreciation . . . . 36,038 35,160 35,605 Decommissioning. 3 1,781 Payments in lieu of taxes 9,034 7.565 6.400 Total operating expenses . 203,803 188.391 178.140 OPERATING INCOME . . . _69,044 44.928 44.406 OTHER INCOME CREDITS (CHARGES):
Interest income. . 11,853 13,913 12,021 Allowance for funds used during construction . 2,178 1,056 807 Allowance for funds used for nuclear fuel . 5,693 6,271 5,841 Amortization of cancelled project costs . (5,181) (5,182) (4,610)
Other - net . . .. .
(266) 341 (135)
Total other income credits - net . . 14.277 16.399 13.924 EARNINGS BEFORE INTEREST EXPENSE. 83,321 61,327 58,330 INTEREST EXPENSE . . .. 55,392 59.447 54.658 EARNINGS BEFORE THE CUMULATIVE EFFECT OF THE CHANGE IN ACCOUNTING PRINCIPLE. . . 8 27,929 1,880 3,672 CUMULATIVE EFFECT ON PRIOR YEARS (TO DECEMBER 31,1980) OF THE CHANGE IN ACCOUNTING PRINCIPLE-Deferred production costs. . .. .. . . 8 2.651 NET EARNINGS . . . . . ..... . . . . 27,929 1,880 6,323 ACCUMULATED EARNINGS REINVESTED IN THE BUSINESS, BEGINNING OF THE YEAR . . . . . . .. _326,408 _ 324.528 318.205 ACCUMULATED EARNINGS REINVESTED IN THE BUSINESS, EtJD OF THE YEAR , . .. $354,337 $326 4_08 $324,528 See notes to financialstatements.
NW
. Ibn
STATEMENTS OF SOURCES OF FUNDS FOR CONSTRUCTION FOR THE THREE YEARS ENDED DECEMBER 31,1983 1983 1982 1981 (thousands)
SOURCES OF FUNDS:
From operations:
Earnings before the cumulative effect of the change in accounting principle . $ 27,929 $ 1,880 S 3,672 Cumulative offect on prior years (to December 31,1980) i of the change in accounting l for deferred production costs 2,651 l Net earnings . . 27,929 1,880 6,323 Charges (credits) to operations not affecting funds:
Depreciation . 36,038 35,160 35,605 Amortization of nuclear fuel .. 14,770 14,512 6,758 Allowances for funds used . (7,871) (7,327) (6,648)
Amortization of cancelled project costs . . 5,181 5.182 4.610 Funds from operations 76,047 49,407 46,648 From financing:
Long-term borrowings . . 75,000 54,205 30,300 Increase (decrease) in short-term borrowings . 30,525 (28,960) 31,300 Long-term debt reduction . . (98,155) (12,630) (41.590)
Funds from financing . . 7,370 12,615 20,010 Funds applied:
Increase in net current assets (excluding short-term borrowings and current portion of long-term debt) (12,131) (19,844) (6,128)
Increase in special purpose funds . (16,789) (20,251) (261)
Decrease (increase) in deferred debits .. .. 3,427 13,806 (4,300)
Increase (decrease) in other liabilities . (6,810) 11.399 8.655 Funds applied . .. _{321 30] (14,890) (2,034) 1 Allowances for funds used . .. . ... . 7,871 7,327 6,648 TOTAL . . . . S 58 1985 $ 54,459 $ 71,272 USE OF FUNDS FOR CONSTRUCTION:
Electric plant . . . . . S 33,997 $ 38,686 $ 44,083 Nuclear fuel . . 24,988 15,773 27,189 TOTAL . . . . .
S 58 9_85_
1 .$ 54,459 $ 71,272 l
l Sec notes to financialstatements.
NOTES TO FINANCIAL. STATEMENTS FOR THE THREE YEARS ENDED DECEMBER 31,1983
- 1.
SUMMARY
OF SIGNIFICANT 2. LONG-TERM DEBT ACCOUNTING POLICIES The District utilizes proceeds of debt issues primarily in Organization and Business - Omaha Public Power financing its construction program.
District, a political subdivision of the State of Nebraska, Electric System Revenue Bonds - Maturities of elec-is a public utility engaged solely in the generation, tric system revenue bonds during the years 1984 transmission, and distribution of electnc power and through 1988 are as follows (in thousands):
energy and other related activities. The Board of Direc- 1984. . $13,155 tors as authorized to establish rates. The District is not 1985. . $13.295 liable for Federal and state income or ad valorem taxes 1986. . $13,840 on property; however, payments in lieu of taxes are 1987. . $14,300 made to various local governments. 1988. . $14,960 Basis of Accounting -The accounting records of the The District's bond indentures and note agreements District are maintained generally in accordance with the provide for certain restrictions, the most significant of Uniform System of Accounts prescribed by the Federal which are:
Energy Regulatory Commission.
Additional bonds may not be issued unless Accounting for Revenues - Meters are read and bills estimated net receipts (as defined) for each future are rendered on a cycle basis. Revenues earned af ter year will equal or exceed 1.4 times the debt service meters are read are estimated and accrued as unbilled on all bonds outstanding including the additional revenues at the end of each accounting pariod. bonds being issued or to be issued in the case of a Property - The costs of property additions, replace- power plant (as defined) being financed in ments of units of property, and bettorments are charged increments.
to electric plant. Mainienance and replacements of An amount at least equivalent to 12%% of gross minor items are charged to operating expenses. Costs operating revenue (as def!ned) must be spent annu-of depreciable units of electric plant retired are elimi- ally for maintenance, replacements, or additions to nated from electnc plant accounts by charges, less the electric system, or if not so spent is to be placed salvage and plus removat expenses, to the in a special fund to be used for such purposes or for accumulated depreciation account. retirements of original bonds (as defined) in advance An allowance for funds used, approximating the Dis- of maturity.
trict's current cost of financing electric plant . In any three-year period, at least 7%% of general construction and the purchase of nuclear fuel, is business income (as defined) must be spent for capitalized as a component of the cost of the utility replacements, renewals, or additions to the electric plant. This allowance was computed at 6.7%, 7.5% and system. Any deficiency is to be spent within two 7.5% for botn construction work in progress and nuclear years thereafter for such purposes or if not so spent fuel for the years ended 1983,1982 and 1981, is to be used for bond retirements in advance of respectively maturity.
Depreciation and Amortization - Depreciation is Electric Revenue Notes - Commercial Paper Series computed on the straight-line basis at rates based on -In 1983, the District authorized the issuance of up to the estimated usefullives of the various classes of $75,000,000 of commercial paper, which is supported property. Depreciation expense has averaged approxi-
. by a revolving credit a;;reement with four financial mately 3.4% of depreciable procerty in each of the institutions. As of December 31,1983, $67,500,000 of three years ended December 31,1983. commercial paper was issued and outstanding with the Amortization of nuclear fuelis based upon the cost thereof, which is pro-rated by fuel assembly in accor- remaining agreement. The$7,500,000 borrowingdrawn rate ag' at December 31,1983ainst the revo dance with the thermal energy that eacu assembly was approximately 5.6% The agreement expires in produces- June 1985. The proceeds of this issue were used for Deferred Production Costs - Certain production early redemption of $55,000.000 of the 9%% 1982 costs are recovered under the Fuel and Production Cost Electric Hevenue Notes and the remainder was used for Adjustment (FPA) clause of the District's rate sched- construction projects.
ute The osts are deferred until they are collected
- 3. SPECIAL PURPOSE FUNDS I Deferred Debits - Certain costs and charges are The assets of the special purpose funds of the District deferred and amortized over the period that rate payers (Construction Fund, Electric System Revenue Bond are expected to benefit. The most significant of which Fund, Debt Service Fund Segregated Fund and Reve-are. nue Furvi - Decommissioning) consisted primarily of Deferred Financing Costs - Debt discount and [es tate ta ze cost w ic approx ma d expense and amortizable charges relating to market, and the remainder was cash, refunded debt are amortized ratably over the lives of the related issues to which they pertain. The Construction Fund is to be used for capital impr vements, additions and betterments to and exten-Deferred Cancelled Project Costs - Fort Cal-houn Station - Unit No. 2 - Costs arising from sions, of the Districts electric system, or for payment of the termination of contracts relating to Fort Calhoun hrinc pal and interest on Electric System Revenue Station - Unit No. 2 are being amortized over ten years through 1989.
D i
f' 11 l
The Electric System Revenue Bond Fund and Debt Coal supply contracts extend through 1984 for the North Service Fund are held by Trustees for the retirement of Omaha generating station and through 1998 for the term and serial bonds and the payment of the related Nebraska City Station - Unit No.1. Minimum future 4 interest. payments amount to $1,475,000 for North Omaha and The Segregated Fund represents customer deposits $172,800,000 for Nebraska City. The coal contract and refundable advances. prices are subject to escalation based upon the sup-t The Revenue Fund - Decommissioning was estab- pliers' costs.
lished to cover the estimated cost of decommissioning Contracts with estimated future payments of Fort Calhoun Station - Unit No.1 when its operating $52,800,000 are in ef fect for nuclear fuel. In addition, a license expires in 2008. The fund was created as a contract with the United States Department of Energy result of a decommissioning plan adopted by the Dis- with estimated future payments of $375,000,000 for the trict in 1983 and additions will be made to the fund fumishing of uranium enrichment services extends to montNy. the year 2002.
4, DEFERRED DEBITS 7. CONTINGENT LIABILITIES The composition of deferred debits at December 31, Under the provisions of the Federal Price-Anderson Act, 1983 and 1982, was as follows: the District could be assessed for claims in the event of 1983 1982__ a nuclear incident in amounts net to exceed $5,000,000 (thousands) per incident to a maximum of $10,000,000 in any one Deferred financing costs , $34,580 $35,866 calendar year.
Dcferred cancelled project ccsts - The District is engaged in routine litigation incidental to Fort Calhoun Station - the conduct of its business and, in the opinion of its Unit No. 2. 27,198 32,379 General Counsel, the aggregate amounts recoverable Other, 10,251 12,392 from or to the District, taking into account estimated Total. SA 029 $80J37 amounts provided in the financial statements and insur-ance coverage, are not material.
- 5. PENSION PLAN
- 8. ACCOUNTING CHANGE-1981 Substantially all District employees are members of its The District's accounting policy prior to 1931 was to contributory pension plan and are not covered by Social record production expenses in the period incurred.
Security. Generally, the plan provides for benefits Under this procedure, revenues collected under the at age 65 with reduced benefits for earlier retirements.
Fuel and Production Cost Adjustment (FPA) clause of Provision is made annually for actuarially computed current costs, which were $5,078,000, $4,691,000 and the District's rate schedules were not matched with the related expenses since these revenues are collected by
$4,177,000 for 1983,1982 and 1981, respectively. The FPA billings over the following six months. In 1981, the District's policy is to fund pension costs accrued.
District changed its method of accounting to defer pro-Accumulated plan benefits and net assets at January 1, 1983 and 1982, were as fc; lows duction costs until the related revenues are recorded.
The change was prompted by the increasing monetary 1983 1982 significance of such production costs and was made to (thousands) better match revenues and expenses.
Actuarial present value of F accumulated plan benefits: 9. ELECTRIC RATE INCREASE
$52,555 $36,455
[ Vested. . . .
Non-vested.
Total.
3,364 2,106
$55,919 $38 561 A rate increase of 6.6 percent, originally approved in February 1983, was reduced to 4.4 percent by the Dis-trict's Board of Directors in December 1983. The increase becomes effective with April 1984 billings.
Net assets available for benefits. $881 660 h_5 6h 10, SUBSEQUENT EVENT The assumed rate of return used in computing the in January 1984, the Boaid of Directors approved the actuarial present value of plan benefits was 10.0% and purchase of certain assets of the Blair, Nebraska Elec-12.6% for retired members and 9.3% and 12.1% for all tric System, etfective April 1,1984 at a total cost of other members of the plan at January 1,1983 and 1982, approximately $5,950,000.
respectively.
6, COMMITMENTS The District's Construction Budget provides for expendi-tures of approximately $56,185,000 during 1984 and
$52,150,000 during later years, of which approximately
$19,200,000 was under contract at December 31,1983.
The District has established a deferred compensation
- an for all eligible employees. All contributions to the pan are made by the employees. By agreement, contri-but;ons under the plan remain the property of the D: strict until an employee leaves the District. Funds on deposit at December 31,1983 of approximately
$2,000,000 are not recorded in the accompanying _
financial statements. b__ .
a . __ _
SUPPLEMENTARY STATEMENT OF EARNINGS FROM CONTINUING OPERATIONS ADJUSTED FOR CHANGING PRICES FOR THE YEAR ENDED DECEMBER 31,1983 (UNAUDITED)
Conventional Constant Dollar Current Cost Historical Average Average Cost 1983 Dollars 1983 Dollars (thousands)
Operating revenues . S 272,847 5 272,847 S 272,847 Total operation and maintenance expenses 156,950 158,863 162,499 Depreciation . 36,038 70,479 72,825 Decommissioning 1,781 1,781 1,781 Payments in lieu of taxes 9,034 9,034 9,034 Total operating expenses 203.803 240,157 246,139 Operating income 69,044 32,690 26,708 Other income credits . 14,277 14.277 14,277 Earnings before interest expense 83,321 46,967 40,985 Interest expense 55,392 55,392 55,39_2 Earnings (loss) from continuing operations . $_27,929 $_L8d25) $ (14,407)
Increase in specific prices (current cost) of utility plant held during the year . S 74,942 Increase to net recoverable cost S 201 1,886 Effect of increase in general price level (70,460)
Excess of increase in specific prices after increase to net recoverable cost over increase in general price level 6,368 Gain from decline in purchasing power of net amounts owed . 26,772 26,772 Net . ,, S 26,973 $__33140 1
SUPPLEMENTARY FIVE-YEAR COMPARISON OF SELECTED FINANCIAL DATA ADJUSTED FOR THE EFFECTS OF CHANGING PRICES (UNAUDITED)
Year Ended December 31, 1979 1980 1981 1982 1983 (Average 1983 dollars, in thousands)
HISTORICAL COST INFORMATION ADJUSTED FOR GENERAL INFLATION Operating revenues S 266,40_1 S 2741 366 S_243,877 $_240,825 $E2,84_7 (Loss) from continuing operations $_{1_,227) $ H8J68) $j29 421) S (33,873) $_{8MS)
Net assets at year-end at net recoverable cost , $ 401.123 $_367,462 $_344,011 S 333,106 $ 348,383 CURRENT COST INFORMATION (Loss) from continuing operations $ (5 8_18) 1 $_L26J85) $J3_6 060) 1 $_L41,151) $ (14 4_07)
_ 1 Excess of increase (decrease) in general price level over increase in specific prices after change to net recoverable cost S 1291 8_01 $ 102,528 $ 55,052 $ (41 882) $ (6J38)
Net assets at year end at not recoverable cost Sj0M2_3 $ 367,462 S 344,011 $_3331_06 1 $ 348,383 GENERAL INFORMATION Gain from decline in purchasing power of not amounts owed . $ 114,281 $_98 975 1 $__6_1216 $_2_8_1610 $ 26,772 Average consumer price index . 217.4 246.9 272.3 289.1 298.4 See notes to supplementary financial data.
}
k
- NOTES TO THE SUPPL.EMENTARY FINANCIAL. DATA ADJUSTED FOR THE EFFECTS OF CHANGING PRICES
. FOR THE YEAR ENDED DECEMBER 31,1983 (UNAUDITED)
?
r a
3 The supplementary information is supplied in accor- Inventories - Fossil fuel inventories and the cost of r dance w,th the requirements of FAS Statement No. 33, fuel used in generation have not been restated from n Financial Reporting and Changing Prices, for the pur- their historical cost in nominal dollars. The District's rate pose of providing certain information about the offects structure limits the recovery of fuel through the opera-f-
of changing prices. It should be viewed as an estimate tions of adjustment clauses or adjustments in basic rate uf the apprommate effect of inflation, rather than as a schedules to actual costs. For this reason fuel inven-precise measure. tories are ef fectively monetary assets.
l Utility Plant, Depreciation and Amorti:ation - Effect of the District's Rate Structure - Under the
- Constant dollar amounts represent historical costs rate making structure adopted by the District, only the stated in terms of dollars of equal purchasing power, as historical cost of utility plant is recoverable in revenues F measured by the Consumer Pnce Index for All Urban as depreciation or amortization.
l Consumers (CPI-U). Current cost amounts reflect the To properly reflect the economics of the District's rate changes in specific prices of the utility plant from the date the plant was acquired to the present, and ditfer structure in the Statement of Earnings from Continuing g
a from constant dollar amounts to the extent that specific Operations Adjusted for Changing Prices, the reduction rices ha e increased more or less rapidly than prices of the utility plant should be offset by the gain from the g decline in purchasing power of net amounts owed. Dur-k 9 ing a period of inflation, holders of monetary assets g The current cost of the utility plant represents the suffer a loss of general purchasing power while holders estimated cost of replacing existing plant assets. The of monetary liabilities experience a gain. The gain from o current cost of the electric plant was determined by the decline in purchasing power of net amounts owed indexing the surviving plant by the Handy-Whitman is primarily attributable to the substantial amount of
=_ index of Public Ut:lity Construction Costs. The electric debt which has been used to finance the utility plant.
1" plant was aged on the basis of clearings from conctruc' Since the depreciation and amortization on this plant is i
tion work in process to electric plant in service. The current cost of nuclear fuel in the reactor was based limited to the recovery of historical costs, the District upon the actual cost of the most recent assemblies to does not have the opportunity to realize a holding gain g
on debt and is limited to recovery only of the embedded be placed in the reactor. The cost of nuclear fuel was cost of debt capital.
not adjusted from historical amounts. The current year's
[ provision for depreciation and nuclear fuel amortiza-g tion was determined by applying the District's effective depreciation and amortization rates to the computed
[ constant dollar and current cost amounts ci th9 utility plant.
n F
E
, NET RECEIPTS AND DEBT SERVICE COVERAGE l FOR THE FIVE YEARS ENDED DECEMBER 31,1983 (UNAUDITED)
E I
1983 1982 1981 1980 1979 g (thousands) y Operating revenues. $272,847 $223,319 $222,546 $227,014 $194,087
, Operation and maintenance
- expenses 156,950 145,666 136,135 135,629 112,045 Payments in lieu of taxes . 9,034 7,565 6,400 6,191 5,252 o Net operating revenues 106,863 80,088 80,011 85,194 76,790
, Investment income (1) . 51058 5.307 4.798 4,490 4.386
[ Net receipts $111,921_ $ 85,395 $_84c809 $_891684 $_81,176 Total debt service (2) . $ 60,528 $ 60,470 $ 59,826 $ 58,969 $ 44,772 g Debt service coverage . 1.84 1.41 1.41 1.52 1.81
_. (1) income denved from the investment of moneys in the Debt Servce Fund and the Reserve Account of the Dectnc system Revenue Bond Fund under the Distnct 3 bond irulentures (nesolution No 19 and Resolution No.17881 i (2) Total Debt Service for both Resolution No 19 and Resoluton No 1788 Donds is accrued on a calendar-year basis samdar to the computation of Net Receipts interest funded from band proceeds is not inckded en Totai oebt Service
ELECTRIC SYSTEM REVENUE BONDS OUTSTANDING (In Thousands) as of December 31,1983 1954 ISSUE 1956 ISSUE 1958 ISSUE 1961 ISSUE 1966 ISSUE 1968 ISSUE 1969 ISSUE Matunty Daie Int Int Int int Int Int Int February 1 Rate Amt. Rate Amt Rate Amt Rate Amt. Rate Amt. Rate Amt. Rate Amt.
1984 24 1,100 3 1.000 3'2 600 34 800 4'm 930 4% 1.900 4 70 850 1985 3 1.300 3% 600 34 840 4's 1.000 4t. 2200 45 900 1986 3 1.400 34 500 3'i 1.000 4's 1.040 4% 2.200 4h 950 1987 3%s 500 34 1.000 4's 1.150 4 '- 4 2.200 4 80 950 1988 3% e 500 3 ' 's 1.000 4'h 1.250 41 2200 4 90 990 1989 3% 1.000 4's -
1.400 4 . 2.200 4 90 1,000 1990 3% 1.000 4to 1.425 4 ',4 2.300 5 1.000 1991 3% 1.000 4'n 1.500 4% 2,300 5 1.000 1992 4't 1.500 4 ', . 2.300 5 1.000 1993 4% 1.500 4 '. . 2.300 5 1.000 1994 4 '. u 1.500 41 2.400 5 10 1,100 1995 4'a 1.500 4Le 2.400 5 10 1.100 19 % 4 1.500 die 2.400 5 10 1,100 1997 die 2.400 5.10 1,100 1998 4 2.500 4h 1,100 1999 4h 1,100 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Total Outstanding 1.100 3,700 2.700 7.640 17,195 34.200 16.240 Donds Rodeemed to 12 3183 10.900 11.300 4.300 9.360 7.805 10.000 3,760 Or9nal Issue 12.000 15 000 7.000 17,000 25.000 45.000 20.000
- Term Bonds "The 1375 Senes A and B Dond issues were refunded by the 1977 Senes A lssuo
- "The 1976 Senes A and B Bond Issues were retur.1od by the 1977 Senes C lssue
1977 ISSUE 1977 ISSUE 1977 ISSUE TWELVE MONTHS ENDED 1972 ISSUE 1973 ISSUE SERIES A" SERIES 0 SERIES C'" FEBRUARY 1 Total Total Int int Int. Int. Int Pnne pal Accruing Debt Rate Amt Rate Amt Rate Amt Rate Amt Rate Amt. Matunties interest Service 4 60 3.330 4 85 620 4% 2.025 13.155 47.374 60.529 4 70 3 510 4 95 650 4 60 2.295 13.295 46.834 60,129 4 80 3.705 5 680 4 70 2.365 13.840 46.264 60.104 4 90 3.910 5 10 710 4 80 1.300 4.80 2.580 14.300 45.664 59.964 5 4.125 5 15 745 4 90 1.500 4 85 2.650 14.960 45.010 59.970 5 4.350 5 20 780 5 2.000 4 95 2.925 15.655 44.317 59.972 5 10 4.590 5% 820 5 15 2.250 5 3.015 16.400 43 578 59.978 5 10 4.845 5 30 860 5.30 2.600 5 05 3.100 17.205 42.791 59.996 5 20 5.110 5 30 905 5 40 3.850 5 10 3.380 18.045 41.958 60.003 5 20 5.390 5 40 950 5% 4.150 5 20 3.620 18.910 41.055 59.965 5 20 5.685 5 40 1.000 5 60 4.500 5% 3.720 19.905 40.097 60.002 5%* 6.000 54* 1,050 5.70 4.900 5 30 3.970 20.920 39.077 59 997 5%* 6.330 54* 1.110 5% 5.350 5 40 4.170 21,960 37.982 59.942 5 %* 6.680 5%* 1.170 5 80 7.300 545 4.485 23.135 36.824 59.959 5%* 7.045 5%* 1.235 5 85 7.900 5% 4,590 24.370 35.568 59,938 5 %" 7.430 5%* 1.300 5 90 10.900 5% 4.960 25.690 34.252 59,942 5 %* 7.840 5%" 1.370 6* 12.600 5%* 5.335 27,145 32.810 59.955 5 %* 8.275 5%* 1.450 6 13.450 5%* 5.470 28.645 31.247 59.892 54' 8.725 54* 1.525 6
- 14.350 5%" 5.710 30.310 29.597 59.907 5%* 9 205 5%* 1.610 6* 15.250 54' 5.955 32.020 27,851 59.871 5 %* 9.715 6* 17.30, 5%* 6.820 33.835 26.006 59.841 54* 10.250 6
- 18.550 5%* 6.970 35.770 24.054 59.824 5%* 10.810 6
- 19.900 5%* 7,140 37.850 21.989 59.839 6 30.100 5%* 9.885 39.985 19.804 59,789 6' s' 12.900 5%* 10,780 23.680 17,429 41,109 6%* 13.670 5 90* 11.200 24 870 16.019 40.889 6%* 14.490 5 90* 11,730 26.220 14.521 40.741 6%" 15.360 5 90* 12.345 27.705 12.941 40,646 C' s' 16.285 5 90* 13.005 29.290 11.272 40.562 64* 17.260 5 90* 13,715 30.975 9.508 40.483 64* 18.295 5 90* 14.435 32.730 7.641 40.371 6%* 19.395 5 90* 15.215 34.610 5.669 40.279 6%* 20.555 5 90* 16.775 37.330 3.583 40.913 6%* 21.790 21.790 1.335 23,125 146.855 20.540 200.000 170.000 226.335 846.505 981.921 1.828,426 23.145 4.460 2.865 88.695 17n000 25 000 200 000 170.000 229.200 935.200
1983-1982 COMPARISONS OPERATING REVEa"40 Percent milhons of dollars (thousands) Percent of 272.8 War of Year increase Classifcaten 1983 Total 1982 (Decrease) 222.5 Resu3ential . . . ...... $108,722 39 9 $ 89.949 20.9 Generai Servce - Small . . 82.880 30 4 72.495 14 3 1941 General Servce - 1.arge. . . 46.226 16 9 41.293 11.9 Government and Muncipal. . 6.519 2.4 5.570 17 0 Other Electre Utahtes . 22.958 84 21.867 5.0 Accrued Untulled Revenues 1,900 _, _7 (800) E 131.8 Total Electre Revenues $269.205 98.7 $230.374 16.9 23 7 105.7 Miscellaneous Revenues 3.642 J 2.945 Total Operatmg Revenues $272.847 g $233.319 16 9 72.4 rre irr t ra r . .a KILOWATTHOUR SALES millions of kilowatt-hours 6.468 6.261 Classificaten Residential . . . . . . . . . . 2.115.696 35.3 1.893.606 11.4 General Servce - Small. 1.830.190 30 5 1.743.804 5.0 5.219 General Servk:e - Large. . 1.384,986 23.1 1.334.043 3.8 Government and Murucipal. . 74.7R1 1.2 74.388 .5 4.653 4.629 Other Electre Utdites . 590.987 J 501.704 17.8 lbtal Energy Sales. 5,996.640 100_0 5 5,52.545 80
- M OPERATION AND -
MAINTENANCE EXPENSES millions of dollars Classifcation 157.0 Generating Expense . $106.261 67.7 $106,709 (.4)
Purchased and interchanged 136.1 Pcwor . . ..... . 2.256 1.4 (4.162) 154.2 ltansmission and Distnbuten . 20.170 12.9 17.793 13.4 11 2.0 Customer Accounts . . . 5.751 3.7 5.326 8.0 Customer Servce and informaten . . . . . . . 2.319 1.5 2.229 4.0 Admirustrative and General . 20.193 12.8 17.771 13 6 lbtal Operaten and Maintenance Expenses. . $156.950 M $145,666 J 64.5 43.2 CUS S thousattds of customers Classificaten 214.8 Residential . . . . . . . . . . . . . 193.638 88.3 191.808 1.0 General Servce - Small. 25.245 11.5 24.264 4.0 201.0 General Serv 6ce - Large. . 73 - 73 -
1931 Other . . 399 j 411 (2 9) 184.3 Awarage Customers 219.355 100 0 216.556 1.3
' Average Total helve Montu Ended December
' ~
ELECTRIC STATISTICS 1983 1982 1981 1980 19/9 1978 1977 1976 1975 1974 Total Utility Plant, including Nuclear Fuet (at year end)
(in thousands of doIIars) . 1.365,553 1.323.435 1.286.174 1.223.659 1.167.444 1.072,189 946.864 652,688 567,704 825.597 Bonded indebtedness (at year end)
(in thousands or dottars) . 846,505 859.135 870.725 881.015 890.930 900.480 890.480 699.344 497.680 334.758 Operating Revenues ton thousands of dollars)
Residential . . ...... . 108,722 89.949 77.500 78.708 65.388 60.819 54.392 51,684 34,183 45.629 General service - Small . . 82,880 72.495 60.992 57.515 49.581 44.277 41,197 38.592 33.830 25.496 General Service - Large. . . 46,226 41.293 36.345 34.291 29.249 24.916 22.217 21,162 17,465 13.741 Government and Muncipal . 6.519 5.570 4.516 3.983 3.462 2.541 3.282 3.260 2,917 2.281 Other Dectrc Utaties. . 22,958 21.867 40.003 49.931 44.008 12.926 9.081 4.285 2,890 5.301 Accrued Untal6ed Revenues. . 1.900 (800) 1.000 600 500 Miscellaneous . 3.642 2.945 2,190 1.986 1,899 1.637 1.636 Total .
1.593 2.929 2.099 272,847 233.319 222.546 227.014 194.087 147.116 131.805 120.576 105.660 83.101 Operation & Maintenance Espenses Charged to Operations (in thousands oldollars) . 156.950 145.666 136.135 135.629 112.045 86.237 64.461 66.688 55.509 41,484 Payments in Ueu of Tases (in thousands or dadars) . 9.034 7.565 6,400 6.191 5.252 4.836 4.428 4.224 3.763 2.904 Net Operating Revenues before Depreciation and Decommissioning (in thousands or dollars) . 106,863 80.088 80.011 85.194 76.790 56.043 62.916 49.664 46.388 38.713 Net Earnings Reinvested in the Business (in ttm>usands oldattars) . 27,929 1.880 6.323 9.162 25.452 19.043 25.015 18.068 18.202 13,221 Kilowatt-Hour Sales (on thousands)
Residential . .... . 2,115,696 1.898 606 1.824.285 1.952.851 1.835.250 1.881,529 1.717.117 1.665.518 1.674.761 1,507.187 General Service - Small . 1.830.190 1.783.804 1.691.815 1.684.631 1.666.849 1.649.361 1.580.095 1,500.223 1.437,146 General Servce - Large . . 1,384,986 1.362.698 1.334.043 1.411.394 1.431,067 1.438.732 1.382.366 1.302.821 Government and Muncipal . 74,781 1.270.736 1.163.250 1.140.723 74.388 74.444 75.325 74.653 77.675 127.367 144.932 134.176 133.703 Ott'er Doctrc UtSties 590.987 501.704 1,258.803 1.275,171 1.452,337 642.399 491.884 229.073 219.924 554.713 Totat . 5,996,640 5.552,545 6.260.741 6,419.045 6.467.821 5.633.330 5.219.284 4.810.482 4.629.257 4.699.024 Number of Customers (anvage per year)
Hesidential . 193,638 191.808 190.451 187.802 185.358 182.156 178.259 174.331 171,239 167.843 Gereral Servce - Small . 25,245 24.264 23.833 23.541 23.484 22,919 22.250 21,824 21,387 General Service - Large . . 21.261 73 73 75 89 88 85 80 84 85 80 Government and Municipal . 392 403 418 403 386 363 303 351 331 321 Other Dectrc ulaties 7 8 10 12 15 16 12 Total .
10 9 11 219.355 216.556 214.787 211.847 209.331 205.539 200.964 196.600 193,051 189.516 Residential Statistics (average) kWh Custoner . . . 10.926 9.898 9.579 10 398 9.901 10.329 9,554 9.633 9.780 8.980 Dollar Fkivenue Customer. . 561.47 468 95 406 93 419 10 352.76 333 89 305 13 296 47 266 46 2G3.66 Cents kWh . 5.14 4 74 4 25 4 03 3 56 3 23 3.17 3 10 2.72 2 27 Generating Capabihty (at year end)
(in A4 watts) . 1,997,500 1,997.500 1.992,100 1,979.800 1.382.000 1,373.700 1.960.000 1,371.700 1.411.000 1,411.000 System Peak Loads (en A4 warts). 1,411,500 1.330.200 1,382.400 1.348.400 1.265.200 1.188,100 1.134.000 1.257.300 1.222.900 1,117.000 Net System Requirements tHwatt twurs on thousands)
Gervratod . .. . . 6.302,725 6.255.287 6.667.831 6.581.819 6.823.834 5.538.844 5.631.403 5.092.064 5.023.719 5,773.486 Purchased aruf Net interchanged (483.636) (868.271) (1.335.512) (1.084.095) (1.413.746) (163.599) (586.776) (165.542) (310.093) (1.332.610)
Net . 5.819.089 5.387.016 5.332.319 5.497.724 5.a10.088 5.375.245 5.044.627 4.926.522 4.713.626 4.440.876
( ) Dermtes Negative
k Omaha Public Power District A business-managed, publicly owned electric utility.
An equal opportunity employer without regard to race, sex, age or impairment.
e .
I Omaha Public Power District i 1623 Harney Omaha, Nebraska 68102 402/536 4000 April 24, 1984 LIC-84-126 Mr. H. R. Denton, Director U. S. Nuclear Regulatory Commission Of fice of Nuclear Reactor Regulation Washington, D.C. 20555
Reference:
Docke t No. 50-285
Dear Mr. Denton:
Annual Financial Report Attached is one (1) copy of Omaha Public Power District's 1983 annual financial report, as required by 10 CFR 50.71(b).
Sincerely, (M, b.c I
f) W
. Jones
[7 Division Manager Production Operations WCJ/JJF:jmm Attachment l cc: LeBoeuf, Lamb, Leiby & MacRae 1333 New Hampshire Avenue, N.W.
Washington, D.C. 20036 Mr. E. G. Tourigny, Project Manager Mr. L. A. Yandell, Senior Resident Inspector
- s M 5124 Employment With Equal Opportunity Male / Female
. . _ _ . _ _ _ _ _ _ _ . _ _ . _ _ _ _ , _ _ . . _ _ . . . _ -_ _ _ . . _ . . _ _. -. _ _ _ . . . __ _ _ _ _ _ _ . _ _ . . _ _ _ _ _ _ _ _ _ .