KIUC ANNUAL MEETING Wednesday, July 25, 2018 2 2017: Putting Kauai - - PowerPoint PPT Presentation

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KIUC ANNUAL MEETING Wednesday, July 25, 2018 2 2017: Putting Kauai - - PowerPoint PPT Presentation

Mar 17, 2023 242 likes •529 views

KIUC ANNUAL MEETING Wednesday, July 25, 2018 2 2017: Putting Kauai on the Map CNN HBO Vice News Engadget Taiwan Public Television 3 Renewable Energy on Kauai 44.4% of Kauais power was produced from renewable sources in 2017

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SLIDE 1

KIUC ANNUAL MEETING

Wednesday, July 25, 2018

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SLIDE 2

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2017: Putting Kauaʿi on the Map

CNN HBO Vice News Engadget Taiwan Public Television

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SLIDE 3

Renewable Energy on Kauaʿi

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44.4% of Kauaʿi’s power was produced from renewable sources in 2017

7% 11% 33% 49% Utility Scale Solar Distributed Solar Hydro Biomass

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SLIDE 4

Renewable Progress: 2017-2018

  • TESLA Dispatchable PV Project
  • Operational March 2017
  • AES Dispatchable PV
  • Lāwaʿi: 20 MW x 5 hours storage
  • (December 2018)
  • PMRF: 14 MW x 5 hours storage
  • (December 2019)

When complete: 65% of evening peak power will come from Solar

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TESLA 13 MW PV 52 MWh Storage

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SLIDE 6

Renewable Future: Energy Storage

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SLIDE 7

Renewable Energy Mix

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SLIDE 8

Pumped Storage Hydro

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  • Engineering and environmental studies on-going
  • Integrated irrigation delivery, hydro electric, and energy

storage project

  • 25 MW size, 15% of Kauaʿi’s energy
  • Infrastructure improvements help DHHL, KAA, DLNR
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SLIDE 9

Community Based Renewable Energy

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  • Up to 3 megawatts total
  • Designed for customers unable to access rooftop solar
  • Renters, apartments, roof condition/placement, etc.
  • RFP to be issued in July
  • Award(s) by end of 2018
  • Subscription process pending details of award(s)
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SLIDE 10

Renewable Resources

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SLIDE 11

Rates

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  • KIUC has not had a general rate increase since

2009

  • 2019 rates are expected to be about the same

as 2018

  • Likely 2030 rates will also be around the same

as today

  • Inflation increases offset by generation savings
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SLIDE 12

Rate Differential Comparison

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2003 2017

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SLIDE 13

Patronage Capital

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  • KIUC will retire $3.2 million in patronage capital

related to 2017 financial results.

  • Since formation KIUC has returned over $37

million to our members.

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SLIDE 14

Resiliency

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  • Kauaʿi’s efforts post ʿIniki (1992) and Iwa (1982)

include:

  • 80% of transmission circuits are steel poles
  • 20% remaining circuits have storm guys on wood poles
  • Increased size standards for all wood poles
  • Hardened Līhuʿe circuit
  • Hurricane resistance headquarters
  • Satellite phones
  • AMI and outage management system
  • Power plants not exposed to storm surge and have

black start capabilities

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SLIDE 15

Member Services - SmartHub

hub

View and monitor energy usage to find ways to reduce energy and save Receive notifications when bill is available or when payments are made View Bill Online Online and Mobile Access Send messages to notify us of account and service issues Manage Payment Methods

smart

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Member Services – Energy Wise

Energy Efficiency:

  • Home visits
  • Lighting Program
  • New efficient appliance replacement rebate program
  • Qualifying member appliance replacement program (QMARP)
  • Appliance meter tester program
  • Commercial retrofit program

Water Heating:

  • Heat pump water heater rebate program
  • Solar water loan program
  • Solar water heater rebate program

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SLIDE 17

Co-op Connections

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www.connections.coop

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SLIDE 18

Co-op Connections

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connections@kiuc.coop

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SLIDE 19

ANNUAL MEETING FINANCIAL REPORT

Fiscal Year Ended December 2017

July 25, 2018

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SLIDE 20

Financial Results - 2017

  • Solid year financially
  • Clean audit report
  • Met loan covenants
  • Increased equity

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Times Interest Earned Ratio – YTD December 2017 KIUC stand-alone

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1.25 2.57

0.00 0.50 1.00 1.50 2.00 2.50 3.00

Times Interest Earned Ratio (TIER)

TIER

RUS Minimum 2017 Actual

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SLIDE 22

Equity Ratio – December 2017 KIUC stand-alone

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66.9% 33.1%

Equity as a % of Assets Liabilities as a % of Assets

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SLIDE 23

Balance Sheet Summary – December 2017 KIUC Consolidated

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(in Millions)

12/31/2017 Net Utility Plant 311.0 83% Other Investments 2.3 1% Current Assets 47.4 13% Deferred Debits 11.8 3%

TOTAL ASSETS 372.5 100%

Controlling Equity Interest 110.5 30% Non-Controlling Equity Interest 20.4 5%

TOTAL EQUITY 130.9 35%

Long-term Debt, (less Current Maturities of 15.2) 192.8 52% Post-Retirement Benefits Obligation 0.6 0% Asset Retirement Obligation 2.5 1% Current Liabilities 34.0 9% Deferred Credits 11.8 3%

TOTAL LIABILITIES 241.6 65% TOTAL EQUITIES AND LIABILITIES 372.5 100%

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SLIDE 24

Key Results Comparison – YTD December 2017 KIUC Consolidated

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143.5 57.3 79.8 0.2 6.6 147.8 60.6 79.0 0.7 9.0

$0 $20 $40 $60 $80 $100 $120 $140 $160

Operating Revenue Commodities Expense Expenses Non Operating Margins Net Margin In Millions

Key Results

2016 Actual 2017 Actual

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SLIDE 25

Percentage of Total Revenue – YTD December 2017 KIUC Consolidated

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Debt Service

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Mahalo!