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BLW finance presents January supplementals and fiscal update; reserves remain healthy
Summary
BLW finance reported January financials and supplementals showing revenues up year over year, continued cost volatility in natural gas/spot markets, and surplus reserves of about $30.4 million.
BLW Finance (presented by staff identified as Pacino) reviewed supplemental and financial metrics for the months ending in December and January, reporting several trends including lower-than-budgeted wholesale/spot market results for some periods but improved margins overall.
Pacino said the utility closed out 2024 with natural-gas and spot-market volatility but that fiscal-year-to-date margins and revenues were up; operating and fixed-asset items related to the Georgia Public Web sale were reflected as a fixed-asset receipt in the current period. Year-to-date cost-of-sales and supplement differentials versus MEAG budget were discussed; Pacino said salary savings and additional revenues had reduced the differential.
The presentation noted planned or upcoming generator outages at regional plants (Vogtle, Wansley, Addison) and that the authority monitors off-system sales; off-system sales were down compared with the prior year. Pacino reported water purchases for January hit a five-year high for the month and said surplus reserves remained healthy at approximately $30.4 million.
No formal board action followed the financial report; staff fielded questions and noted the rate increase adopted earlier would begin to show in February billing comparisons.
