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ElectricUtilityCompetitiveOp
eratingStatistics
6
FITCH
The
capital
chargesby
function
(generatio
n,transmission,and
distribution)arebasedoneachcompanyscapitalstructure,resultingina
separatepretaxcapitalcostfactorforeachutility
(ratherthanonefactor
appliedtoallc
ompanies).
Thecapitalch
argecalculationispretaxandrequiresthegrossingupofthe
costofcapitalforfederalandstateincometaxes.T
hemodelutilizeseach
companysestimatedtotalincometaxratewhereavailable.However,inthe
eventextraord
inarycircumstancesskewedacomp
anyseffectiveincome
taxratein2001,agenerictaxratebasedonthepreviousyearsfinancial
datawasapplied.
NERCregion
weightedaveragesarebasedonweig
htingbycompanykwh
sales.
Whiletheseassum
ptionssometimesvarymateriallyfr
omtheactualcostsof
individualutilities,t
hevalueoftheembeddedcostmode
listheabilitytoobtain
aconsistentoverviewofalargeuniverseofutilitiesbasedonpubliclyavailable
information.(Foradditionalinformationaboutthemodel,seetheElementsof
EmbeddedCostsboxonpage4.)
11
22
33
44
55
66
77
88
99
1010
NorthAmericanElectricR
eliabilityCouncil
*Returnoncapitalisaweightedaveragebasedoneachutilityscapitalstructure.
Average
Em
bedded
CostofService
Region
(ce
nts/kwh)
1
ECAR
EastCentralAreaReliabilityCoordinationAgreement
4.26
2
ERCOT
ElectricRelia
bilityCouncilofTexas
7.76
3
FRCC
FloridaRelia
bilityCoordinatingCouncil
6.91
4
MAAC
Mid-AtlanticAreaCouncil
7.03
5
MAIN
Mid-America
InterconnectedNetwork
5.52
6
MAPP
Mid-ContinentAreaPowerPool
5.62
7
NPCC
NortheastPowerCoordinatingCouncil
9.19
8
SERC
SoutheasternElectricReliabilityCouncil
5.72
9
SPP
SouthwestP
owerPool
7.06
10
WECC
WesternElectricityCoordinatingCouncil
8.08
11
22
33
44
55
66
77
88
99
1010
NorthAmericanElectricR
eliabilityCouncil
*Returnoncapitalisaweightedaveragebasedoneachutilityscapitalstructure.
Average
Em
bedded
CostofService
Region
(ce
nts/kwh)
1
ECAR
EastCentralAreaReliabilityCoordinationAgreement
4.26
2
ERCOT
ElectricRelia
bilityCouncilofTexas
7.76
3
FRCC
FloridaRelia
bilityCoordinatingCouncil
6.91
4
MAAC
Mid-AtlanticAreaCouncil
7.03
5
MAIN
Mid-America
InterconnectedNetwork
5.52
6
MAPP
Mid-ContinentAreaPowerPool
5.62
7
NPCC
NortheastPowerCoordinatingCouncil
9.19
8
SERC
SoutheasternElectricReliabilityCouncil
5.72
9
SPP
SouthwestP
owerPool
7.06
10
WECC
WesternElectricityCoordinatingCouncil
8.08
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ElectricUtilityCompetitiv
eOperatingStatistics
19
FITCH
PowerSupplyStatistics*(continued)
(YearEndedDec.31,2001)
--
PowerSu
pply----
SalesandDispos.ofElec.
-
FuelMix(%ofTotalGeneration)-
Company
Net
Generation
(gwh)
Average
Prod.Costs
(Cents/kwh)**
Pu
rchased
Power
(gwh)
Average
Purchased
PwrCost
(cents/kwh)
Salesto
Ultimate
Cust.
(gwh)
Salesf
or
Resa
le
(gw
h)
NetGen.
%Sales
toUlt.
Cust.
Resale
Sales
%Total
MwhSales
Coal
Gas
Nuclear
Hydro
Oiland
Other
SanDiegoGasandElectricCompan
y
3,028
3.00
6,550
9.98
9,176
23
3
33.0
2.5
0.0
0.0
100.0
0.0
0.0
SouthernCaliforniaEdisonCompany
30,157
2.47
31,165
12.09
78,454
7
0
38.4
0.1
37.0
0.0
52.8
10.1
0.1
TucsonElectricPowerCompany
12,183
5.85
4,092
13.94
8,261
7,12
8
147.5
46.3
98.6
1.4
0.0
0.0
0.0
*NorthAmericanElectricReliabilityCounc
il(NERC)averagesareweightedbasedoninvestor-ownedutilitykilowatt-sales.TheNERCregionscontainonlythemajorinvestor-ownedutilitiesin
eachregion.**Reflects
variablecostsofproduction(fuelandO&M
)dividedbynetgeneration.Reflectscostofpurchasedpowerdividedbykilowatt-hour(kwh)purc
hased.Companyhassoldortransferredgenera
tingassets,butcontinuesto
supplyelectricitythroughpowerpurchasestocustomers.Companyreliesonpurchasedpowertomeetitssupplyobligation.gwhGigawat
t-hour.N.A.Notavailable.Seethemaponpage6forthenamesand
locationsofNERCregions.CertainoperatingcompanydataisunavailablereflectinganincompleteFERCForm1filing.Source:SNLEnergy
InformationSystem,providedunderlicensebyS
NLSecurities,LCof
Charlottesville,VA.
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ElectricUtilityCompetitiv
eOperatingStatistics
23
FITCH