News

PUD wraps up 2020 in good financial standing with big plans ahead

by Rachel Hansen | Feb 17, 2021

Chelan PUD closed the books for 2020 ahead of budget and on track to achieve generation-defining investments into the future of Chelan County.

Commissioners heard a year-end financial report Tuesday that showed a $77 million bottom line – about $20.5 million ahead of budget. Revenues from power contracts and local services were down, which was more than offset by lower-than-expected operational costs and some project delays.

“We have accomplished a significant amount of work in 2020 despite some of the challenges,” said Mark Mullins, director of enterprise planning, risk and analytics. “We are on the strategic path to achieve long-term value for our customer-owners.”

Chelan PUD invested $115 million in capital projects in 2020, the biggest year since 2002 when the fish bypass at Rocky Reach was built. Investments include:

  • Modernization of Rock Island Powerhouse 1
  • New facilities at Rock Island and Rocky Reach Central Maintenance
  • Discovery Center
  • Service Center
  • New substations
  • Fiber network expansion

Overall, the utility’s financial standing remains strong, and its debt ratio stayed below the 35% target consistent with the 2020-2024 Strategic Plan.

In other news, commissioners:

  • Heard a report from local community land trust leaders regarding affordable housing. (00:12:30)
  • Reviewed proposals for the 2021 public power benefit fund (01:25:00)
  • Heard a report about PUD support of regional vaccination efforts (02:22:00)

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The next PUD commission meeting is at 10 a.m. on Monday, March 1. The public is welcome to attend remotely in accordance with the latest guidance from the state Department of Health.

Outages or Emergencies

Visit our Safety and Outage Center for information, or to report an outage, 24 hours a day, 7 days a week, call 1-877-PUD-8123.

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