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Strong financial results for 2005 reported

Chelan County PUD
News Release
2/21/2006

Surplus power revenues that exceeded budget by $9.7 million helped the PUD’s Distribution system increase performance by nearly $14 million in 2005.

Diane Cooper, Accounting director, and Randy Lowe, Power Management director, added detail to financial results reported last month by Chief Financial Officer Joe Jarvis.

Lowe said power prices that averaged $58 a megawatt hour contributed to the strong surplus sales. That was on a water supply that reached 90 percent of normal for the year.

Early forecasts for 2006 are for a normal water year, the first since 2002.

These results were timely for the PUD since the 2006 budget, up $25.3 million from 2005, includes a number of construction projects, some that have been delayed until funds were available. Plus the PUD will have to share costs for modernizing Rock Island’s first powerhouse. Other demands on reserves expected this year include putting new license agreements for the Lake Chelan and Rocky Reach dams into place. 

In other business, commissioners:

• Listened to a weekly legislative update from Andrew Munro, governmental affairs director. He noted language favorable to the PUD’s Habitat Conservation Plans that was added to the Columbia River Basin bill that passed last week. He is also following a bill offering a tax break to small water systems and one that would allow PUDs to take positions on ballot initiatives.  
• Heard that 78 people have applied for the PUD general manager position, including two internal applications. Consultant Jerry Oldani is reviewing the applications and will bring a list of 12-15 candidates to PUD commissioners for further consideration on March 13.
• Authorized filing a lawsuit against Gerald and Joan Morton, Chelan, for placing   fill and wells inside PUD project boundaries in Chelan County contrary to a flowage easement. 

***

PUD commissioners adjourned Tuesday’s meeting and continued it to noon on Wednesday, Feb. 22, to attend the All Customer Partnership Group meeting at the Wenatchee Center.

The next regular meeting of the PUD commission is at 1 p.m. Monday, Feb. 27, 2006, in the boardroom, 327 N. Wenatchee Ave.

PUD commission meetings are recorded, and a link to the audio is available on the PUD’s home page at www.chelanpud.org.

Kimberlee Craig
Public Information Officer
661-4320, office
679-6858, cell
kimc@chelanpud.org