07-12-2021 BPU RPT 13 - Laserfiche WebLink

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WATER I ENERGY I LIF E RPU FINANCIAL RESULTS Unaudited FY 2020/21 through April 30, PUBLIC UTILITIES 2021 mw RIC 'I L--, • .IMPACTS Due to the COVID-19 pandemic and the Governor's declaration of State of Emergency on March 4, 2020 and Stay at Home Order issued on March 19, 2020, RPU recognizes that there will be impacts to the financial results of the Electric Utility, which staff will continue to monitor. On January 5, 2021, the City Council delayed the implementation of the third year of the Electric Rate Plan through March 31, 2021, which is approximately one year from the date the City declared the state of emergency. On March 23, 2021, with the City still under a declared state of emergency, the City Council delayed the third year of the Electric Rate Plan with direction to the Board of Public Utilities to review the third year of the rate plan and make recommendations back to City Council. On April 19th, the Board of Public Utilities recommended that City Council delay the implementation of the third year of the Electric Rate Plan to no later than July 1, 2021. The Board's recommendation is anticipated to be presented to City Council for consideration on June 15, 2021. The fiscal impact of the delay to the third year of the Electric Rate Plan from the previously approved implementation date of January 1, 2021, to June 30, 2021, is an estimated $4.4M reduction to revenues. Retail Sales Revenue o $40 $35 $30 . $25 $20 $15 $10 $5 $0 Jul -20 Aug -20 Sep -20 Oct -20 Nov -20 Dec -20 Jan -21 Feb -21 Mer -21 Apr -21 May -21 Jun -21 I•AGTUAL � BUDGET • PRIOR YEAR Retail KWh Sales Total -YTD 1.787 1.800 1,863 2,000 1,800 15.7 15.7 19.2 1,600 1,400 1 810.8 763.0 873.1 1,200 1,000 800 355.1 338.5 77 600 400 683.1 200 0 Apr -20 Apr -21 Budget -21 ■ Residential Commercial Industrial Other Year-to-date retail sales of $271.4M are $7M (2.5%) lower than budget due to lower than anticipated consumption and the delay in the rate increase. Current year actual retail sales are $11.5M (4.4%) higher than prior year, due to an increase in consumption as a result of warmer temperatures compared to the prior year and rate plan increases. Retail kWh sales reflect 3.4% lower than budget due to lower than anticipated consumption and 0.8% higher than prior year due to an increase in consumption. r, 9 Personnel Expense O $7 $6 $5 $1 I I I I Jul -20 Aug -20 Sep -20 0ct-20 Nav-20 Dec -20 Jan -21 Feb -21 Mar -21 Apr -21 May -21 Jun -21 Regular Overtime Benefits Power Supply Expense $30 $25 — $20 $15 $10 1111 %% m am ama�amamama Jul -20 Aug -20 sep 20 Oct -20 Nov -20 Dec -20 J -21 1 1 1 mamam=yam Feb -21 Mar -21 Apr -21 May -21 Jun -21 ■Transmission Generation Personnel Expense: Year-to-date personnel costs of $44.71M are $11.21M (20.1%) lower than budget due to various vacancies and attrition. Power Supply Expense: Year-to-date power supply costs of $187.31M are $10.71M (5.4%) lower than budget due to lower than anticipated costs related to capacity projects and RPU's firm transmission service contracts. Other Operating Expense: Year-to-date other operating expenses of $5.81M are $10.7M (64.9%) below budget due to timing of expenses and savings in other general operating expenses. Total Operating Expense -$35 0 $30 $25 $zo $15 $10 $5 s- m� 3 3 3 3 3 3 3 m Jul -20 Aug -20 Sep -20 Oct -20 Nov -20 Dec -20 Jan -21 Feb -21 Mar -21 Apr -21 May -21 Jun -21 Personnel Power Supply Other Operating Power Supply Expense $30 $25 — $20 $15 $10 1111 %% m am ama�amamama Jul -20 Aug -20 sep 20 Oct -20 Nov -20 Dec -20 J -21 1 1 1 mamam=yam Feb -21 Mar -21 Apr -21 May -21 Jun -21 ■Transmission Generation Personnel Expense: Year-to-date personnel costs of $44.71M are $11.21M (20.1%) lower than budget due to various vacancies and attrition. Power Supply Expense: Year-to-date power supply costs of $187.31M are $10.71M (5.4%) lower than budget due to lower than anticipated costs related to capacity projects and RPU's firm transmission service contracts. Other Operating Expense: Year-to-date other operating expenses of $5.81M are $10.7M (64.9%) below budget due to timing of expenses and savings in other general operating expenses.