Rhonda Haskins, CPA,
Chief Financial Officer
An annual financial report from the American Public Power Association indicates PWC continues achieving its commitment to having the “Lowest Responsible Rates and Most Financially Sound Utility in NC.” In its “Financial and Operating Ratios of Public Power Utilities, February 2022,” the APPA indicated that PWC is performing very well in financial comparison to other public power systems. Compared to the median and other utilities in our region and of similar size, PWC operated at a lower cost than most and on par with similar sized utilities.
An example of the information reported is PWC’s Total Operation & Maintenance expense (excluding Power Supply) per Retail Customer. In 2020, PWC cost was $505, which fell well below the median cost of $557, though higher than the $482 among utilities in the SE and on par at $505 among utilities with 50,000-100,000 customers. Below are cost comparisons in other areas of operation:
