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Financial targets set for each Chelan PUD service

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Financial targets set for each Chelan PUD service

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June 14, 2012

(Wenatchee, WA) As part of strategic planning, Chelan County PUD commissioners this week established financial targets for each of the PUD’s primary services: electric activities, water and wastewater. The goal is to keep each utility service moving toward covering the cost of providing the service.

Fiber and telecom financial policies were already approved by commissioners on May 21 as part of establishing a new long-term strategic plan for that system following more than a year of study and analysis.

Targets are now established for cash reserves, rate of return, debt leverage ratio and combined debt coverage for the PUD’s main business lines. The targets will be used to help develop five-year business plans.

Kelly Boyd, chief financial/risk officer, said the targets reflect overall financial goals and priorities of customer-owners that were gathered during extensive outreach.

In other business Wednesday:

  • Commissioners approved increases to wholesale rates and fees charged to local service providers that deliver Internet access, telephone and TV to customers over the PUD’s fiber-optic network. The changes, plus PUD cost-cutting that includes fiber workforce reductions, are among steps being taken to carry out the new strategic plan for the fiber system. The PUD expects to hold down spending by reducing the number of fiber connections each month and by delaying an equipment upgrade that determines how fast some customer connections can download and upload data. The fiber-optic rate change is a 9-percent across-the-board increase for service providers effective Aug. 1. Electric rates remain unaffected.
  • Energy Planning and Trading staff presented the PUD’s Integrated Resource Plan that shows how the PUD anticipates meeting its electrical load for the next 10 years. The PUD’s plan, which must be updated periodically, anticipates adequate power supply to meet the demands of customers and includes sections for energy conservation and renewable energy sources, along with the primary reliance on hydropower that exists now. Board action to approve the plan following any additional public comment is scheduled for July 2.
  • Established three public hearings to be held in succession starting at 1 p.m. on July 2. One hearing will consider declaring several small, separated parcels of property in the Entiat area surplus to District needs and authorize their sale. Another will be to consider the IRP that was presented at today’s meeting. The third will be to reconsider the moratorium on the sale of dark fiber that was placed into effect earlier this spring as part of considerations in the fiber strategic plan.

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