KIUC's Rate Case - Kauai Island Utility Cooperative

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CHANGES TO KIUC’S MEMBERSHIP MEETING Kaua‘i Island Utility Cooperative (KIUC) has changed the date and venue of the Membership Meeting to Sunday, August 16, 2009, from 4 p.m. to 6 p.m. at the Kaua‘i War Memorial Convention Hall. Doors will open at 4 p.m. All members will receive an annual report, Co-op Connections card and reusable shopping bag. All attendees will be served chili and rice bowls. As in previous Membership Meetings, the first 200 members will receive a bag of rice. 22 KIUC CURRENTS We hope you will join us! Sunday, August 16, 2009 4 p.m. to 6 p.m. Kaua‘i War Memorial Convention Hall KIUC NAMED IN SEPA “2008 TOP TEN UTILITY SOLAR INTEGRATION RANKINGS” Kaua‘i Island Utility Cooperative (KIUC) is among the top 10 utilities in the country when it comes to the amount of solar electric capacity per customer, according to the Solar Electric Power Association (SEPA). KIUC was listed in SEPA’s “2008 Top Ten Utility Solar Integration Rankings,” which was based on the 2008 Utility Solar Electricity Survey completed by utilities in April 2009. The report catalogs how much solar electricity was interconnected by surveyed utilities in calendar year 2008 and what was installed cumulatively through the end of 2008, including both photovoltaics and concentrating solar power. KIUC ranked in the top 10 in 14 different categories: #1 – Annual (2008) customer-side of the meter – solar Watts per customer (47.1) #1 – Cumulative (through 2008) customer-side of the meter – solar Watts per customer (70.6) #1 – Annual (2008) total solar Watts per customer – West (47.1) #1 – Cumulative (through 2008) total solar Watts per customer – West (70.6) #1 – Annual (2008) customer-side of the meter solar Watts per customer – public power utilities (47.1) #1 – Cumulative (through 2008) customer-side of the meter solar Watts per customer – public power utilities (70.6) #2 – Annual (2008) total solar Watts per customer (47.1) #2 – Annual (2008) total solar Watts per customer – public power utilties (47.1) #3 – Cumulative (through 2008) annual (2008) total solar Watts per customer – public power utilities (70.6) #4 – Cumulative (2008) total Watts per customer (70.6) #5 – Annual (2008) PPUs total solar Megawatts – public power utilities (1.5) #5 – Annual (2008) customer-side of the meter solar Megawatts – public power utilities (1.5) #5 – Cumulative (through 2008) customer-side of the meter solar Megawatts – public power utilities (2.2) #6 – Cumulative (through 2008) PPUs total solar Megawatts – public power utilities (2.2) To view the full report, go to www.solarelectricpower.org.
STATEMENT OF OPERATIONS For the period 01/01/2009 – 4/30/2009 By Karissa Jonas, Controller KIUC operations through April 30, 2009, are being impacted negatively by the weak economy and low fuel costs. Electricity usage on the island has significantly decreased, primarily due to the reduction in visitors to the island. KIUC is doing everything it can, while maintaining safety and reliability, to reduce costs in various areas to continue to meet the co-op’s loan covenants. Revenues, expenses, and net margins totaled $36.7 million, $36.8 million and $0.1 million, respectively, for the four-month period ending April 30, 2009. As is the case for all electric utilities, the cost of power generation is the largest expense, totaling $18.5 million or 50.3 percent of revenues. Fuel costs are the largest component of power generation, totaling $13.8 million or 37.5 percent of revenues, and representing 74.6 percent of the cost of power generation. As a point of reference, fuel costs have decreased by 55 percent or $16.7 million, from $30.5 million a year ago. This has resulted in the substantial decrease in the member’s monthly electric bills. The remaining $4.7 million or 12.8 percent of revenues and 25.4 percent of the cost of power generation represents the cost of operating and maintaining the generating units. The cost of operating and maintaining the electric lines totaled $1.6 million or 4.3 percent of total revenues. The cost of servicing our members totaled $1.3 million or 3.4 percent of revenues. Administrative and general costs— which include marketing and communications, legislative and regulatory expenses, engineering, executive, financial Depreciation & Amortization 15.3% Administrative & General Net of Non-Operating Margins 9.8% 2 Days 110 miles August 8-9, 2009 Taxes 8.5% Percentage of Total Revenue Member Services 3.4% Interest 8.7% and corporate services, and board of directors expenses— totaled $3.9 million or 10.5 percent of revenues. Being very capital intensive, depreciation and amortization of the utility plant costs $5.6 million or 15.3 percent of revenues. Although not subject to federal income taxes, state and local taxes amounted to $3.1 million or 8.5 percent of revenues. Interest on long-term debt, at a very favorable sub-5 percent interest rate, totals $3.2 million or 8.7 percent of revenues. Non-operating net margins added $0.3 million to overall net margins. Revenues less total expenses equal margins of ($0.1 million) or (0.3 percent) of revenues. Margins are allocated to consumer members and paid when appropriate. PARTING SHOT Net Margins -0.3% Transmission & Distribution Operation & Maintenance 4.3% www.ParadiseRideKaua‘i.com Fuel & Purchased Power Costs 37.5% Production Operation & Maintenance 12.8% The annual fundraising event for Malama Pono Kaua‘i AIDS Project www.malama-pono.org We’re always looking for interesting items to feature in Parting Shot. If you have an item to share with readers, please e-mail currents@kiuc.coop or send it to: KIUC Currents, 4463 Pahe‘e Street, Suite 1, Līhu‘e, HI 96766-2000.
Page 1 and 2: June/July 2009 KIUC’s Rate Case
Page 3 and 4: Simple Pleasures Chiefess Kamakahel
Page 5 and 6: An electrical surge or spike can oc
Page 7 and 8: A Picture’s Worth... Haaaa Terry!
Page 9 and 10: ■ Portable radio ■ Extra batter
Page 11 and 12: A MESSAGE FROM THE CHAIRMAN Aloha.
Page 13 and 14: There are several significant probl
Page 15 and 16: What’s This All About? “Our Ene
Page 17 and 18: 2009 SPOTLIGHT ON EXCELLENCE AWARDS
Page 19 and 20: We’re always thinking of WAYS TO
Page 21: Guri-guri 2 12-ounce cans strawberr

KIUC's Rate Case - Kauai Island Utility Cooperative

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