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Quarterly report shows finances still a challenge for Chelan PUD

Chelan County PUD
News Release
 5/11/2009

Energy prices have taken a small rebound in the past few weeks, but the latest overall financial numbers show Chelan County PUD is still expected to end the year with a drop in net assets of about $18.3 million.

John Janney, chief financial officer/risk officer, updated the board Monday afternoon, providing a quarterly report that shows, in part:

  • Snowfall on the west side of the Cascades has been much higher than on the east side where latest runoff forecasts are still between 83-88 percent of average for Grand Coulee Dam and at 75 percent of average for the Lake Chelan Basin;
  • PUD contingency plans are in place and on track to reduce expenditures by more than $27 million for 2009; 
  • Temperatures for January-March have been colder than average, requiring more power to serve local load and making less surplus power available for the PUD to sell on the open market.

Janney told the board the PUD remains focused on looking for more cost-savings. He said the PUD is also committed to keeping rates low (they are second-lowest in the nation) and on keeping the PUD strong and reliable for the future.

In other action, the board:

  • Changed the time of future regular board meetings (every Monday) to 1 p.m. in the PUD boardroom;
  • Declared a special meeting for 9 a.m. to 3 p.m. on Thursday, May 28, at the North Central Regional Library for continuing the board’s strategic planning and discussion of the Balanced Scorecard and board governance; 
  • Declared a special meeting for 5 p.m. Thursday, June 4, at 5 p.m. in the PUD Auditorium for the annual meeting of PUD retirees.

***

The next regular commission meeting is at 1 p.m. on Monday, May 18, 2009, in the PUD boardroom at 327 N. Wenatchee Ave.

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

Steve Lachowicz
Communications director
509-661-4639, direct line
509-679-0148, cell
steve.lachowicz@chelanpud.org

Link to board meeting.