Financial Highlights

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Selected Financial and Operating Data

 
2016
2015 2014
(Dollars in thousands)
Total revenues $661,382 $642,953 $748,571
Total assets and deferred outflows of resources $9,115,995 $9,441,898 $7,975,332
Property, plant and equipment, net $5,255,928 $4,913,961 $4,575,586
 
Debt outstanding (excluding defeased bonds)   $7,146,111  $7,543,321 $6,340,120
Weighted average interest cost (1) 4.09% 4.13% 4.31%
 
Total delivered energy to MEAG Power Participants (MWh)(2) 10,771,270 10,561,753 10,572,781
 
Cost to MEAG Power Participants (cents per kWh):
Total cost (2) (3) 6.63 6.68 6.89
Bulk power cost (3) 6.58 6.63 6.90
SEPA cost (2) 7.34 7.29 6.84
 
Peak demand (MW) 1,923 1,941 1,926
 
Total nominal generating capacity in service (MW) 2,069 2,069 2,069

(1) Excludes the impact of other net interest expense components such as receipts and payments pertaining to interest rate swap agreements, amortization of debt discount and expense, investment income, the net change in the fair value of financial instruments, and interest capitalized. The rate is net of subsidies on Build America Bonds.

(2)  Participants purchase hydro energy directly from the Southeastern Power Administration (SEPA). Such energy is included in these calculations.
  
(3) Funds from the Municipal Competitive Trust were applied to lower the Participants' annual generation billings. 

 

Ratings and Outlook Table

    Fitch Ratings Moody's
Investors Service
Standard & Poor's
Project
Lien

Rating

Outlook

Rating

Outlook

Rating

Outlook

Project One

Senior

A

Negative

A1

Stable

  A+

Negative
Project One Subordinated

A

Negative

A2

Stable

A

Negative
General Resolution Projects Senior

A

Negative

A1

Stable

  A+

Negative
General Resolution Projects Subordinated

A

Negative

A2

Stable

A

Negative
Combined Cycle Project Senior

A

Negative

A1

Stable

A

Negative
Vogtle Units 3&4 Projects:          

 

 
    Project M Senior

A

Negative

A2

Negative

 A+

Negative
    Project J Senior

A

Negative

A2

Negative

 A+

Negative
    Project P Senior

A-

Negative

Baa2

Negative

 A-

Negative