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05-10-2021
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05-10-2021 BPU RPT 25
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05-10-2021 BPU AGENDA
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<br /> RPU FINANCIAL RESULTS <br />Unaudited FY 2020/21 through January 31, 2021 <br />COVID19IMPACTS <br />DuetotheCOVID19pandemicandthedeclarationofStateofEmergencyonMarch4,2020andStayatHomeOrderissuedonMarch19,2020,RPU <br />recognizesthattherewillbeimpactstothefinancialresultsoftheElectricUtility,whichstaffwillcontinuetomonitor.OnJanuary5,2021,theCityCouncildelayed <br />theimplementationofthethirdyearoftheElectricRatePlanthroughMarch31,2021,whichisapproximatelyoneyearfromthedatetheCitydeclaredthestate <br />ofemergency.OnMarch23,2021,withtheCitystillunderadeclaredstateofemergency,delayedthethirdyearoftheElectricRatePlanwithdirectiontothe <br />BoardofPublicUtilitiestoreviewthethirdyearoftherateplanandmakerecommendationsbacktoCityCouncil.Thefiscalimpactofthedelaytothethirdyear <br />oftheElectricRatePlanforthepreviouslyapprovedimplementationdateofJanuary1,2021,toapotentialextendedtoanimplementationdateofJune30,2021, <br />isestimatedata$4.5Mreductiontorevenues. <br />REVENUES <br />Yeartodateretailsalesof$203.1Mareinlinewithbudget.Currentyearactualretailsalesare$10.9M(5.7%)higherthanprioryear,duetoan <br />increaseinconsumptionasaresultofwarmertemperaturescomparedtotheprioryear.RetailkWhsalesreflect1.2%lowerthanbudgetdueto <br />slightlylowerthananticipatedconsumptionand1.3%higherthanprioryearduetoanincreaseinconsumption. <br />OPERATINGEXPENDITURES <br />PersonnelExpense:Yeartodatepersonnelcostsof$30.2M <br />are$9.0M(22.9%)lowerthanbudgetduetovarious <br />vacanciesandattrition. <br />PowerSupplyExpense:Yeartodatepowersupplycostsof <br />$135.1Mare$8.0M(5.6%)lowerthanbudgetduetolower <br />thananticipatedcostsrelatedtocapacityprojectsand <br />firmtransmissionservicecontracts. <br />OtherOperatingExpense:Yeartodateotheroperating <br />expensesof$4.2Mare$7.6M(64.4%)belowbudgetdueto <br />timingofexpensesandsavingsinothergeneraloperating <br />expenses. <br /> <br />
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