2023 in review
The District recognized adequate margin to cover expenses and fund planned investments in the power system that reliably serves our customers. We reduced long-term debt by $4.6 million and invested $9 million in system assets. The District is dedicated to providing reliable, dependable and affordable energy to its customers. Our strong financial position today will support these goals into the future.
Dawson PPD continued a trend of robust financial performance in 2023. A specific notable achievement was the upgrade of our bond rating by Standard & Poor’s, which has improved from an A to A+. This upgrade reflects confidence in the district’s finances, marked by consistent improvements in several key financial focus areas.
Service territory and revenue
We served an average of 23,400 customers, up from 23,279 in 2022. The irrigation segment recognized the largest percentage increase in customers served.
Irrigation sales were strong in 2023. The sale of 180 million irrigation kilowatt hours was the second highest of the last ten years. The residential segment contributed the highest percentage to total revenue at 43%. Total revenue among all rate classes was $68.4 million on the sale of 595.4 million kWh.
Cost of Power and Operating Expenses
The cost of purchased power accounted for 51% of total revenue. We continued to receive a power cost adjustment (PCA) which has helped to keep this number relatively consistent since 2020. Operating and maintenance expenses (non-purchased power) of $15,282,000 accounted for 22% of total revenue. This percentage is unchanged from the previous two years.
Electric Power Distribution System Investment
Dawson PPD is committed to the quality and reliability of our electric power system. We maintain a working plan of investment several years into the future. Over the last decade we have invested $97 million back into our system. We invested $8 million and $9 million in 2022 and 2023 respectively. Our strong financial position allowed us to make these recent investments without issuing new debt. In addition, we were able to invest cash reserves to take advantage of higher market interest rates.
Carmen Ackerman
Manager of Finance & Administration
OTHER NEWS
BETWEEN THE LINES: The Dawson PPD and Central NPPID Project
I’ve fielded several questions about our announcement in November. In December, our boards approved the hiring of a consultant to take a deeper and more thorough look at whether or not this arrangement not only has merit but has positive impacts for each district....
Electric vehicles are worth a second look
Electric cars are powerful, quiet and cheaper to maintain than gas-powered vehicles. Add the tax credit and incentives, and these vehicles are worthy of consideration as your next vehicle. Range anxiety no more These green vehicles have evolved rapidly. The 2011...
Tree trimming beyond the holidays
Now that the holidays are over, tree trimming may be a task you’ve crossed off your to-do list. But for Dawson PPD’s Tree Crew, the trimming is a year-round event. Tree Crew Foreman Colten Mast and Tree Crew Worker Kat Cavanaugh work with customers and...