ML19323H982
| ML19323H982 | |
| Person / Time | |
|---|---|
| Site: | Fermi  |
| Issue date: | 02/01/1980 |
| From: | WOLVERINE POWER SUPPLY COOPERATIVE, INC. (FORMERLY |
| To: | |
| Shared Package | |
| ML19323H980 | List: |
| References | |
| NUDOCS 8006170407 | |
| Download: ML19323H982 (21) | |
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WOLVERINE ELECTRIC COOPERATIVE BIG RAPIDS, MICHIGAN 1979 ANNUAL REPORT l
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Cover Photoaraph: Wolverino's Blendon Substation located vest of Grand Rapida near Zeeland. The station inter-connects Consumera Power Company 's 138,000 volt ayatem oith Wolverine's 60,000 volt ayatem and has transformation capability of 75,000 kVA.
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E TABLE OF CONTENTS Page r-Board of Directors 1 Personnell 2-3 Member Cooperatives 4 Pro 2ident's Message 5-6
[ Manager's Report 7-8 Auditors Report 9 Balance Sheet 10 a, 10 b Statement of Revenue & Expense 11 a, 11 b L,
Statement of Patronage Capital (Deficits) and Other Equities 12 Statement of Changes in Financial Position 13 l
L Notes to Financial Statements 14-18 7 Energy Production- Interchange with L_,
Non-Members and Energy Sales MWil to Membern 19 r
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B0ARD 0P DIRECT 0RS i
[ WILLARD llAENKE 5 President . . . . . . . . . . . . . . . . . . . Blanchard, Michigan CLARE SHULL Vice-Prenident . . . . . . . . . . . . . . . . . . ilart , Michigan J0ll!! TYNDALL Secretary . . . . . . . . . . . . . . . . . . Branch, Michigan m
l BURTON SCOTT Treasurer . . . . . . . . . . . . . . . . . . Evart, Michigan
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CARL 00RTELMA Director . . . . . . . . . . . . . . . . . . floxeyville, Michigan WILLIAM CIIAPIN L Director . . . . . . . . . . . . . . . . . . Blanchard, Michigan JOSEPil FAIRCllILD Director . . . . . . . . . . . . . . . . . . Ilesperia, , Michigan LEO LAPOINTE Director . . . . . . . . . . . . . . . . . . Branch, Michigan 1
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0TTICE PERSONNEL
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[ MANAGER. .. . . .. . . . . . . . . . . . . . . . . . John N. Keen ASSISTANT MANAGER .. .. . . . . . . . . . . . . . . James 0. Wood j ASSISTANT TO THE MANAGER . . . . . ..... . . . . . Norman Newby OPPICE MANAGER . . . . . . . . . ... . . . . . . . Esther Brower
. ACCOUNTANT . .
. . . . . . . . . . . . . . . . . . . Walter Garcia RECEPTIONIST . . . . . . . . . . . .. . . . . . . . Roselyn Hopper
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TRANSMISSION . . . . . . . . . . . .. . . . . . . . S. Donald King E- . TRANSMISSION . . . . . . . . . . . .. . . . . . . . William Zuidema TRANSMISSION . . . . . . . . . . . .. . . . . . . . Robert O. Gray TRANSMISSION . . .. . . . . . . . .. . . . . . . . Dean E. Bishop MAINTENANCE FOREMAN . . . . . . . . . . . . . . . . Richard Arnold CONSULTANTS:
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LEGAL . . . . . . . . . . . . . . .. . . . . . . Daniel D. Hesslin
- ENGINEERING . . . . . .. . . . . . .. . . . . . . Daverman Associates ;
(' .C. P. A.' S . . . . . . .. . . . .. . . . . . . Coopers & Lybrand
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{-- PLANT PERS0NNEL
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BURNIPS PLANT i SCOTTVILLE PLANT H:nry Kaumeyer, Chief Operator
{- Hubert Niemchick Terry Kuiper, Chief Operator Gary D. Rogers John L. Wilson C. G. Luce
( Robert Force Thomas Story L .Maurice McBride Michael Terryn Bart J. Wiersma Glen Robinson Kenneth Slagter VESTABURG PLANT Michael Chase Bleine St. Peter Richard Bigelow, Chief Operator
{ Jeck R. Thompson Richard Modrow HERSEY PLANT' Michael Bigelow Richard Bradley
% Delbert Roggow, Chief Operator j Elwood Mitchell Richard F. Brissette DISPATCH OFFICE
( Edwin K. Kersey-Cary L. Jaques Neil Anderson Willis Zimmerman Jerry Taber
[ Kanneth Roggow John Oehrli Rex Thompson Earl D. Jacobs Ksith Tissue Jeffrey Arnold PORTLAND PLANT RIGHT-OF- WAY DEPART M_
. Eugene Snitgen. Dale Kirkconnell Merel Peterson Pete Ratcliffe Glen Merrill v
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1 DIRECTORY OF > MEER COOPERATIVES
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B 0 f,A ELECTRIC Newaygo, Michigan TRI-COUNTY ELECTRIC Portland, Michigan Kenneth Bumstead, Manager Vernor Smith, Manager i
Carl Johnson James Clarke I Leon Ford Pete Boss Wayne Swiler Carl Morton Burton Scott Keith Sackett
, Constance Dukes John Ondrus Don Marsh Willard Haenke Carl Fortelka William Chapin Louis Ghent I John Brink I
I WESTEPfi MICHIGAN ELECTRIC Scottville, Michigan OCEANA ELECTRIC Hart, Michigan Frank Anderson, Manager Robert Frederiksen, Manager i Leo LaPointe Clare Shull Donald Harmon J. Kenneth Fairchild Robert Hasenbank Philip L. Paine John Tyndall Clyde Ackley Merel Wood Mary C. Hawley Harold llansen 'Mathew Kokx Robert Thurow Gordon L. Lohman I
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PRESIDENT'S MESSAGE
[L Never in'the history.of your Coop 9rative have we been confronted with so C many problems as we have in the. utility field today, h - Many of the problems stem from all the restraints which are placed upon us by the ever increasing number of Government regulations. We are confronted with growing opposition to new generation and transmission facilities, which are needed to supply the increase in the electrical needs of our nation.
In no way can we recover the time lost because of the lead time required to build new facilities. This time of recovery is now measured in years. To
( obtain all the necessary permits and to construct a new facility today, it would take ten years. Therefore, if planning was to start now, it would be 1990 before we could build an additional generating facility.
The delay in moving ahead with new cm.1 fired or nuclear units just means continued dependency on foreign oil, and with the ever rising costs of foreign crude oil today, this is just another threat.to the economic well
-being of our nation. .
During this past year a committee was formed which included a director from
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.cach of the distribution cooperatives, and one from each G 6 T to investigate
{- as to whether or not it would be advisable for Northern Michigan and Wolverine to become an entity. -It was agreed upon to hire Ernst & Whinnel to carry out this investigation. The Committee met several times during the year and the D
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committee receivad 'several progress 5:eports. At this writing Ernst & Whinney
'had not completed their report.
7 'DuringLthis past summer, Wolverine's board of directors and board members of the distribution cooperatives, made a tour of our Burnips plant and the bulk' substation'known as the Blendon substation, located near Zeeland, Michigan.
In closing, I can only say, we are making every effort in trying to prepare for the future, and I would like to thank our distribution cooperatives for l.'
their continued support, and the support of their employees as well as the employees of Wolverine Electric.
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[ @MieA Wa.e~L-President -
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MANAGER'S REP 0RT I
I During this past year we completed the construction of five distribution substations, namely: Weare, Middleville, Stevenson, Lebanon and Grand Ledge.
Uc completed the construction of the Hersey-LeRoy line, and the conversion of the Burnips to Wayland line from 44 KV to G9 KV.
The estimated completion date of Fermi II has been set back 12 to 18 months because of the Nuclear Regulatory Commission. The N.R.C. has required many modifications in the middle of the stream, since the Three Mile incident.
At the present time the additional plant cost is estimated to be $63,000,000.
Since our original loan for Permi II, REA has established a new policy that states the first fuel reload can be capitalized. The reason for this change in policy is, because it requires a capital investment of up to four years for the uranium, uranium processing and fabrication of the fuel loads. We
). ave estimated Wolverine's cost of the first load to be $14,000,000, capitalized A 6 G expense to be $1,439,000 and $1,300,000 for Wolverine's initial working capital, therefore, we have applied for a deficiency loan in the amount of
$80,000,000.
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{ A considerable amount of time has been spent on other power supply possibilities, such as investigating Consumers Power Company's Midland 1 & 2 nuclear plants and the Campbell III coal fired unit. We have been pursuing a proposed wood fired plant at Hersey. The reason for this is that we are trying to relieve ourselves to a degree from being under the price control of fuel from the OPEC
{ countries by generating with a renewable fuel source. During our investigation
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of the wood supply in the six counties currounding the IIersey area, it was determined we would utilize at this proposed plant approximately one percent of the wood growing in the liersey area.
During this past year we had all of our relays tested and adjusted to keep them in proper working order as well as the coordination between the various segments of the system. We also have conducted other normal maintenance to our subs.
We carried out our normal schedule of transmission maintenance and repairs.
Ilowever, we did not complete as much right-of-way maintenance as we had planned, due to weather and equipment breakdown.
As you recall in 1972, there was an Anti-Trust case started by Wolverine Electric, but included other cooperatives and a number of municipalities.
I am pleased to say today that a satisfactory out of court settlement was reached, which will be beneficial to all parties concerned in the years to eome.
I Our office force has been busy with the normal procedures and whenever possible, are trying to up-date our continuing property records. They have completed their work on loan documents and are now ready for REA to come in and review our work papers which were prepared to bring our loan records up to date.
I would like to thank each and every one for their continued cooperation.
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OA I ohn N. Keen, Manager I
1 COOPERS & LYB R AN D ca.r rico eu.uc .ccov=r.urs eco n .. w ... ....re...rio..a C.
Board of Directors
( Wolverine Electric Cooperative, Incorpo rated Big Rapids, Michigan
-We have examined the calance sheets of Wolverine Electric Cooperative, Incorporr4ted as of December 31, 1979 and 1978, and the related statements of revenue and expense, patronage capital (deficit) &nd other equities, and changes in financial position for the years then ended. Our examinations were made in accordance with generally accepted auditing standards and, accordingly, included such tests of the accounting records and such other auditing procedures as .we considered necessary in the circumstances.
( In our opinion, the financial statements referred to above present fairly the financial position of Wolverine Electric Cooperative, Incorporated at December 31, 1979 and
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1978, and the results of its operations and changes in its financial position for the years then ended, in accordance -
'with generally accepted accounting principles applied ~ on a consistent basis.
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( Niles, Michigan February 1, 1980
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B MICHIGAN 46, NEWAYGO WOLVERINE ELECTRIC COOPERATIVE, INCORPORATED E
W BALANCE SHEETS, as of December 31, 1979 and 1978 1979 1978 ASSETS E Utility plant, at cost (Notes B and D):
Electric plant in service $ 31,042,463 $ ,930 Construction work in progress (Note G) 91,261, ,698,726
,338 Electric plant acquisition adjustments 378, 1 378,741 122,682,601 96,007,805 Less, Accumulated provision for depreciation and amortization g (Notes A and C) 12,118,029 11,338,340 g Utility plant (net) 11o.564,572 84,669,465 other property and investments, at cost:
( Investments in associated organizations (Note F) 1,395,301 1,204,696 g l Restricted funds - 1,000 3 other investments, at cost, which approximates market value 165,256 952 Notes receivable 13,690 129,690 13, l
1,574,247 1,349,338 Current assets:
Cash, general 780,935 1,237,476 Cash, REA construction fund 178,533 312,478 Accounts and interest receivable 2,715,389 2,272,078 Materials and supplies (Note A) 1,559,913 1,308,459 i Prepayments 110,462 57,598 5,345,232 5,188,089 Total assets $117,484,051 $91,206,892 l B The accompanying notes are a part of the financial statements.
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b E-g 1979 1978 e EgUITIES, LIABILITIES AND DEFERRED CREDITS Equities:
Membership s $ 400 $ 400 r Patronage capital (deficit) 256 (1,203,813)
L Other equities (1,434,478)
,932 181,484 (821,146) (1,021,929)
Iong-term debt:
REA mortgage notes (Note D) 21,343,717 21,013,ca8 Fe,deral Financing Bank notes (Note E) 90,270,000 64,737,000 111,613,717 85,750,028
{ Current liabilities:
Note payable, CFC, 15-1/4% and 15-1/2% in 1979 and 11-3/4%
( in 1978, unsecured 2,168,065 2,653,572 L Accounts payable 3,576,183 2,990,204 Taxes and wages payable 462,307 410,547 Accrued vacation and sick leave 275,744 250,655
( Accrued interest 49,977 46,191 6,532,276 6,351,169 Deferred credits 159,204 127,624 E
I. Total equities, liabilities L and-deferred credits $117,224,051 $91,206,892 E
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E ST/.TEMENTS OF REVENUE AND EXPENSE for the years ended December 31, 1979 and 1978 5
1979 3 Percent of g Amount Revenue
$15,153,973 100.
Operating revenues 5
Operating expenses:
Other power generation: g Operation 6,712,266 44.3 3 Maintenance 197,718 13 Other power supply:
Purchased power 5,161,110 34.1 l Transmission expense: -
Operation 175,638 1.2 Maintenance 83,596 .6 3 Distribution expense: 3 Oper ation 47,501 3 Maintenance 20,957 .1 l Administrative and general:
, Ope ration 625,900 4.1 Maintenance 3,141 -
Depreciation and amortization 826,454 3
(Note C) 55 W Taxes 502,b10 33 Interest on long-term debt 612,694 4.0 Other interest charges 328,735 2.2 Total operating expenses and interest 15,29G,320 101.
B Operating margins (deficit) (144,347) (1.0)
Non-operating margins:
Interest revenues 36,121 .2 Settlement of litigation (Note H) 217,327 1.4 Non-operating margins 253,448 1.6 Capital credits, CFC 91,682 .7 Net margins $ 200,783 13 The accompanying notes are a part of the financial ctatements, s
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1978 5 Amount Percent of Revenue Increase (Decrease)
$14,301,487 100.0 $ 852,486 F
L 3,865,609 27.0 657
[ 753,583 6,954,257 5.3 h8.6 2,846,865)
(555, (1,793,1h7)
[ 178,003 1.2 (2,365) 71,194 5 12,ho2 25,855 .2 21,646 33,715 .2 (12,758) 562,56h 4.1 336 7,819 .1 63,678)
(4, 776,880 5.4 49,574
[ h42,E74 562;237 3.0 39 60,336 50 457 212,496 1.5 116,,239 b
14,hh6,486 101.o 851,834
[ (144,999) (1.0) 652
[ 25,148 .2 10,973 L - -
217,327 25,148 .2 228,300 475,697 33 (384,015) 355,846 2.5 $ (155,063)
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E STATEMENTS OF PATRONAGE CAPITAL (DEFICIT) AND OTHER EQUITIES
{ for the years ended December 31, 1979 and 1978 b PATRONAGE CAPITAL (DEFICIT)
[ 1979 1978 Balance (deficit), beginning of year $(1,203,813) $(1,534,511) .
b operating margins (deficit) (144,347) ,(144,999)
Capital credits, CFC ' 91,682 475,697 Balance (deficit), end of year $(1,256,478) $(1,203,813)
. Summary of patronage capital deficit:
Operating deficit
$(2,464,112) $(2,319,765) operating margins 503,768 503,768
{ Patronage capital credits 703,866 612,184 Patrons.ge capital (deficit) g y36,478) $(1,203,813) b OTHER EQUITIES 1979 1978 Balance, beginning of year $ 181,484 156,336 Non-operating margins 253,41 25,1h8
( Balance, end of year $ 434,932 $ 181,h84 E
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The accompanying notes are -a part of the financial statements.
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STATEMENTS OF CHANGES IN FINANCIAL POSITION I I for the years ended December 31, 1979 and 1978 Source and Application of Working Capital 1979 1978 Punds were provided by:
B From operations :
Net margins $ 200,783 355,846 Add (deduct), Items not I requiring working capital:
Depreciation and amortization (Note C)
Deferred compensation 835,753 784,648 31,580 35,405 I4 i Increase in CFC patronage capitaleredits Total from operations (91,682) 976,434 (475,697) 700,202 Advances from Federal Financing Bank I Advances from CFC Advances from REA 25,533,000 1,172,000 64,737,000 13,051,388 1,128,000 Collections on note receivable -
157 Decrease in restricted funds 1,000 -
Total source 27,682,434 79,616,747 I Funds were used for:
Payment of CFC notes Extension and replacement of plant 26,730,860 57,668,866 20,440,111 Principal payments on long-term debt when due I Increase in other investments Decrease in deferred interest 820,804 35,304 20,507 811,299 55,775 20,507 Purchase of CFC capital term certificates and other investments 98,923 95,913 Total use 27,706,398 79,092,471 I Net increase (decrease) in working capital Workir; capital (deficit), beginning of year (23,964)
(1,163,080) 524,276 (1,687,356)
Working capital (deficit), end of year $(1,187,044) $(1,163,080)
Changes in Composition of Working Capital 1979 1978 Current assets: Increase (Decrease)
Cash, general (456,541) $
$ 639,9k5 I Cash, REA construction fund Accounto receivable Materials and supplies 251, 54 25,801 (443, 11133,945)34,960 (4(87,892 Prepayments 52, 64 (41,933 Increase in current assets 157,143 100,961 Current liabilities:
I Note payable, CFC Accounts payable Taxes and wages payable (485,507) 585,979 73,572 442,912 51,760 9,308 Accrued vacation and sick leave I Accrued interest Other current liabilities 25,089 3,786 22,540 (o, 025)
(965,622)
Increase (decrease) in current liabilities 181,107 (423,315)
Increase (decrease) in working capital $ (23,964) $ 524,276 The accompanying notes are a part of the financial statements, n ,
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b NOTES TO FINANCIAL STATEMENTS for the years ended December 31, 1979 and 1978
[ Note A: ACCOUNTING POLICIES.
( The following is a summary of the accounting policies adopted by the Cooperative which have a significant effect on the financial statements. The policies
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conform to generally accepted accounting principles and have been consistently applied.
Depreciation and Amortization of Utility Plant -
( Provision for depreciation and amortization is computed using the straight-line method.
Inventory Valuation - Materials and supplies are stated at average unit cost, which is not in excess of market.
Construction Period Interest - The cos t o f construction work in progress includes the actual cost of funds borrowed to finance the
[ construction of the Fermi #2 Nuclear Power Plant. The Cooperative incurred total interest costs of $7,606,885 and $5,502,638, of which
$6,665,456 and p ,727,905 was capitalized during
[ the years ended December 31, 1979 and 1978, respectively.
{ Federal Income Taxes - The Cooperative is exempt from federal income taxes under Section 501(c)
(12) of the Internal Revenue Code. Therefore, no provision for federal income tax has been
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NOTES TO FINANCIAL STATEMENTS, Continued
{_ . for the years ended December 31, 1979 and 1973
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- Noto B: UTILITY PLANT.
(. . The electric plant in service consists of the following:
1979 1978
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Intangible plant $ 18,455 $ 18,455 Production plant 4 12,471,321
( Transmisslon plant 14, 35,611 12,887,985 13,002,802 Distribution plant 222,746 3,136,740 General plant 3,477,666 301,408
$31,042,463 $28,930,726
( Eiote C: DEPRECIATION AND AMORTIZATION.
Depreciation and amortization were charged as follows:
1979 1c178 Charged to operations '
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as an expense $826,454 $776,880 Charged to clearing accounts 9,299 7,768 Total depreciation and amortization ,$835,753 $784,648
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Tiote D: ~ LONG-TERM DEBT - REA MORTGAGE NOTES.
Long-term debt consists of 35-year Rural Electrification Administration notes bearing interest at 2'$ and 5% per annum. The notes are payable in equal installments plus
( current interest to the year 2013 The current repayment requirements approximate an $840,000 payment on principal and deferred interest and $600,000 for current interest.
Advance payments of $11,596 are available to meet these
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[ requirements. Utility plant in the amount of $30,546,342 is pledged as ' collateral on the long-term debt.
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I NOTES To FINANCIAL STATEMENTS, Continued ,
for the years ended December 31, 1979 and 1978 I Note E: IONG-TERM DEBT - FEDEMAL FINANCING BANK NOTE.
The Federal Financing Bank note is guaranteed by the Rural Electrification Administration and bears interest at a rate to be determined by the bank at the date of each I advance. The rate of interest will be redetermined by the bank at each change of maturity date.
At the time of each advance, the Cooperative must designate I an initial maturity date for that advance of no t less than two nor more than seven years. Extensions of the initial asturity date are available, however, not to be less than I two years in length. The to tal maturity period, including extensions of any advance, cannot exceed a maximum of seven years. The Cooperative may convert these obligations to a 34-year maturities at any time af ter the end of the calendar g year in which the advance was made and up to seven years after the advance. After the maximum seven year maturity, the advances must be repaid or converted to 34-year o bligations .
Advances as of December 31, 1979 consist of the following:
Maturity Date Interest Rate Amount 5/14/80 8.005% $ 601,000 1 9/15/80 8.534% 58,736,000 10/10/80 8.769% 1,559,000 11/13/80 9 522% 1,305,ooo I 12/11/80 12/29/80 1/10/81 9.571%
10.029%
9 971%
1,020 1,516,,000 000 1,350,000 2/13/81 9.756% 983,000 I 3/12/81 4/02/81 9.844%
9.776%
839,000 1,409 000 4/10/81 9.863% 2,158,,000 I 5/10/81 6/11/81 6/29/81 9 9515 9 317%
1,359,000 2,570,000 9.023% 560,000 7/10/81 1,450 000 l 8/10/81 9/10/81 9 111%
9 376%
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1, 2,254,000 2,222,000 10/05/81 10.380% 1,761,000 I 10/10/81 11/13/81 12/10/81 11.140%
11.781%
616,000 1,989,000 11.227% 1,079,000 12/31/81 11 315% 1,934,000 To tal $90,270,000 16 I
l NOTES TO FINANCIAL STATEMENTS, Continued for the years ended December 31, 1979 and 1978 E
Note F: INVESTMENTS IN ASSOCIATED ORGANIZATIONS.
The investments in associated organizations consist of the following:
( 1979 1978 National Rural Utilities
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Cooperative Financing Co rporation:
CaDital term r c
'ertificates (CFC) $ 688,567 $ 590,644 L Patronage capital credits 703,866 612,184 Other investments 2,868 1,868
( $1,395,301 $1,204,696 The Cooperative has subscribed to Cooperative Financing
( Corporation (CFC) capital term certificates for which a payment of $111,030 is due-in 1980. Subscriptions to CFC r
capital term certificates are required to obtain long-term financing from CFC in the future.
L Cost of certificates approximate market value.
( iiote G: CONTRACTUAL OBLIGATION.
On February 8,1977 the Cooperative entered into an agreement F with the Detroit Edison Company to participate in 10% of L
the construction costs and operations of Enrico Fermi Nuclear Unit No. 2. The Cooperative's share of the construction costs to date are approximately $89,700,000.
( The Cooperative's share of the remaining costs to complete construction are estimated at $60,300,000 by Cooperative management. The unit is tentatively scheduled to be
{ operational in 1984 The Cooperative has a binding agreement with Detroit Edison p Company in which Detroit Edison is obligated to purchase L the excess energy generated related to the Cooperative's portion o f Fe rmi No . 2. The Cooperative feels these revenues will be sufficient to offset the effect of the
{ additional interest and depreciation costs recognized.
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m NOTES TO FINANCIAL STATEMENTS, Concluded for the years ended December 31, 1979 and 1978 Note H: SETTLEMENT OF LITIGATION.
The Cooperative received its share of a suit taken to the Justice Department and the Nuclear Regulatory Commission, and settled out of court with Consumers I Power Company in relation to the Cooperative's desire to purchase a portion of the Midland Nuclear Powar Plants No . 's 1 and 2. The total revenue recognized I during the year ended December 31, 1979, was determined as follows:
Cooperative's share of settlement $248,507 Less, Legal and engineer'.ng costs incurred relating to I the case during the yee.r ended December 31, 1979 31,18o Net revenue from settlement I $217,327 I
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ENERGY PR0 DUCTION GENERATED MWil Burnips 178,250.1 liercey '
B Portland 24,821.5 641.2 Vestaburg 21,272.2 Scottville 14,240.2 239,225.2 B
I N T E R C 11 A N G E WITH NON-MEMBERS DELIVERED TO MWH RECEIVED FROM MWii Miller Dairy rarms 122.4 Miller Dairy Farms 1,000.0 City of Hart 9,134.4 City of liart 112.8 Lowell Light f. Fower 10,691.1 Lowell Light 6 Power 190.2 I Northern Michigan 12,214.7 Northern Michigan 1,331.7 City of Zeeland 3,552.4 City of Zeeland 4,368.8 City of Grand llaven 9,088.2 City of Grand llaven 3,517.7 City of Traverse 3,743.5 I Conalco 2,514.0 City of Traverse Consumers Power Co.
33.8 23,439.0 Detroit Edison Co. 87,253.6 51,060.7 City of Lansing 113,492.7 I Conalco 1,410.0 9
236,150.3 B
ENCRGY SALES M W 11 T0 MCMBERS Tri-County Electric Cooperative 145,252.9 I 0 6 A Electric Cooperative Oceana Electric Cooperative 136,347.9 56,564.8 Western Michigan Electric Cooperative 44,213.1 382,378.7 '
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