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Kaua' i Island ^^''" ^"- Utility Cooperative ZGM HAR 23 A IO 32 Your Touchstone Energy' Cooperative ?V"<^ -^ PUBLiC UTILITIES COMMtSSlOM March 17,2011 Ms. Brooke K. Kane Administrative Director Public Utilities Commission Kekuanao'a Building, Room 103 465 South King Street Honolulu. HI 96813 Subject: 2010 ANNUAL REPORT TO THE PUC Dear Ms. Kane: Kauai Island Utility Cooperative respectfully submits its 2010 Annual Report and the selected five-year statistical data (2006-2010) drawn from the annual report. Please call me if you have any questions at 808-246-8213. Very truly yours, David J. BisselH Financial Vice President & CFO, Interim President & CEO Enclosures cc: Division of Consumer Advocacy The power of hurruin connections' 4463 Pake 'e Street, Suite I • Lihue. Kaua V. HI 96766-2000 • (808)246-4300 • www.kiuc.cooD KlUC is an equal opportunity provider and employer.

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Page 1: Kaua' i Island ^^'' ^- Utility Cooperative ZGM HAR 23 A IO 32puc.hawaii.gov/wp-content/uploads/2014/06/KIUC-AFR-2010.pdf4463 Pake 'e Street, Suite I • Lihue. Kaua V. HI 96766-2000

Kaua' i Island ^ ''" "-Utility Cooperative ZGM HAR 2 3 A IO 32 Your Touchstone Energy' Cooperative ?V"<^

- ^ PUBLiC UTILITIES COMMtSSlOM

March 17,2011

Ms. Brooke K. Kane Administrative Director Public Utilities Commission Kekuanao'a Building, Room 103

465 South King Street

Honolulu. HI 96813

Subject: 2010 ANNUAL REPORT TO THE PUC

Dear Ms. Kane:

Kauai Island Utility Cooperative respectfully submits its 2010 Annual Report and the selected five-year statistical data (2006-2010) drawn from the annual report.

Please call me if you have any questions at 808-246-8213.

Very truly yours,

David J. BisselH Financial Vice President & CFO, Interim President & CEO

Enclosures

cc: Division of Consumer Advocacy

The power of hurruin connections' 4463 Pake 'e Street, Suite I • Lihue. Kaua V. HI 96766-2000 • (808)246-4300 • www.kiuc.cooD

KlUC is an equal opportunity provider and employer.

Page 2: Kaua' i Island ^^'' ^- Utility Cooperative ZGM HAR 23 A IO 32puc.hawaii.gov/wp-content/uploads/2014/06/KIUC-AFR-2010.pdf4463 Pake 'e Street, Suite I • Lihue. Kaua V. HI 96766-2000

f-" i

Annual Report of

HAR 23 A 10:3 J

PUBLIC UTn n i l s COMMISSION

KAUA'I ISLAND UTILITY COOPERATIVE State exact corporate name of respondent

LIHUE. KAUAI. HAWAII Address of Respondent's Principal Business Office

To the

Public Utilities Commission state of Hawaii

For the year ending

DECEMBER 31. 2010

Approved Annual Report / (WB^^Bn\ 1 Revised Form . .,. . T>t I n l n X ^ ^ H s -'off Approved by Public Utilities Commission

Electric Utilities **^ »«f \ J*^s«HS.-»» I'H y

Page 3: Kaua' i Island ^^'' ^- Utility Cooperative ZGM HAR 23 A IO 32puc.hawaii.gov/wp-content/uploads/2014/06/KIUC-AFR-2010.pdf4463 Pake 'e Street, Suite I • Lihue. Kaua V. HI 96766-2000

GENERAL INSTRUCTION FOR

PREPARING REPORT

All electric utilities operating within the State of Hawaii shall make their annual report on this form in duplicate and file the original, duly verified in the office of this Commission, on or before March 3 Ist ofthe following year, retaining duplicate copy for its files.

The form of annual report Is prepared in conformity with Uniform System of Accounts for Public Utilities as prescribed by this Gommission, and all accounting words and phrases are to be interpreted In accordance with the said classification.

The word "Respondent" wherever used In this report, means the person, corporation, licensee, agency, authority, or other legal entity or instrumentality in whose behalf the report is made.

Each annual report should in all particulars be complete in itself and references to returns of former years or to other reports should not be made to take the place of information as required herein.

Where information, required herein, is not given, state fully the reason for its omission.

The report should be made on typewriter, as all forms are designed therefore. All entries should be typed in black except those of contrary or opposite character which should be typed in red or enclosed in parenthesis. If it is necessary or advisable to insert additional statements for the purpose of further explanation of accounts or schedules, they should be typed on paper of durable quality and should conform with this in size of page and be securely appended hereto.

The report is designed to cover the calendar year. Each utility shall close its books at the end of each calendar year unless otherwise authorized by the Commission.

Respondent may, in lieu of filing this report, file a copy ofthe annual report submitted to the Federal Power Commission (Form 1). In addition to filing either report, respondent shall also file with the Commission, a copy of its annual report prepared for distribution to its security holders and such other reports or schedules as requested.

Page Nos. 3-4. ORGANIZATION AND CONTROL OF RESPONDENT. Answer all questions as Indicated.

Page Nos. 5-6. Schedule A - COMPARATIVE BALANCE SHEET. The balance at the beginning and at the close ofthe year appearing In the respective accounts on the respondent's books, as well as the increase or decrease, should be reported on this schedule for each item; all entries on the balance sheet should be consistent with those shown on supporting schedules.

Page Nos. 7-8-9. Schedules A-1 to A-1.2 inclusive. - ANALYSIS OF UTILITY PLANT ACCOUNTS. The amounts applicable to the various account classifications shall be shown on this schedule. There shall be reported the balances in accounts 101, 102, 103, 104, 105, 106, 107 and 114, at the beginning ofthe year, total charges during the year, total credits during year, and the balances at the close of the year. The total of each classification and the total of all accounts should be in accord with the amounts shown on the Balance Sheet.

Page No. 1

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Page No. 10. Schedule A-2 - ACCUMULATED PROVISIONS FOR DEPRECIATION OF UTILITY PLANT. The accrued depreciation applicable to the various account classifications shall be shown on this schedule. There shall be reported the balances at the beginning ofthe year, credits and debits during the year and the balance at the end ofthe year, which should be in accord with the amount shown on the Balance Sheet.

Page Nos. 11-12-13. Schedules A-2.1 to A-2.3 Inclusive. ANALYSIS OF ACCUMULATED PROVISIONS FOR DEPRECIATION OF UTILITY PLANT. State complete analysis as indicated.

Page No. 14. Schedule A-3 - ACCUMULATED PROVISIONS FOR AMORTIZATION OF UTILITY PLANT. The total amount of reserves at the beginning ofthe year, credits and debits during year and balance at the end of year for each classification of accounts should be reported on the schedule. Totals should be in accord with amounts shown on Balance Sheet.

Page I4-A. Schedule A-4-NON-UTILITY PLANT. Complete schedules as indicated.

Page No. 15. Schedules A-5 to A-6 inclusive. Indicate on these schedules a complete analysis for all corresponding items as appearing on the Balance Sheet.

Page No. 16. Schedules A-7 to A-9 inclusive. Sate complete analysis as indicated.

Page No. 17. Schedules A-10 to A-12 Inclusive. State complete analysis as indicated.

Page No. 18. Schedule A-I3 - UNAMORTIZED DEBT DISCOUNT AND EXPENSE. State complete analysis as indicated for each class and series of long-term debt.

Page No. 19. Schedule A-14 - EXTRAORDINARY PROPERTY LOSSES. State complete analysis of property abandoned, date of abandonment, date of Commission Authorization and period over which amortization Is being made.

Schedule A-15 - MISCELLANEOUS DEFERRED DEBITS. Complete as indicated.

Schedule A-I6 - DEFERRED REGULATORY COMMISSION EXPENSES. State complete analysis as indicated.

Page No. 20. Schedules A-17 to A-19 inclusive. State complete analysis as indicated.

Page No. 21. Schedule A-20 - CAPITAL STOCK EXPENSE. If any change occurred during the year, give particulars of the change. State the reason for any chargeofT of capital stock expense and specify the amount and account charged.

Page No. 22. Schedule A-21 - ANALYSIS OF APPROPRIATED RETAINED EARNINGS. State complete analysis as indicated.

Page No. 23. Schedule A-22 - ANALYSIS OF UNAPPROPRIATED RETAINED EARNINGS. State complete analysis as indicated.

Page No. 24. Schedule A-23 - LONG-TERM DEBT. State complete analysis as indicated for Bonds. Advances from Associated Companies and Other Long-Term Debt, which should be in accord with the amounts shown on the Balance Sheet.

Page No. 2

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Page No. 25. Schedule A-24 - ACCRUED TAXES. There shall be reported the accrued tax amounts at the beginning of the year, taxes charged during the year and the balance at the end of year, which should be in accord with the amount shown on the Balance Sheet.

Page No. 26. Schedules A-25 to A-27 inclusive. State complete analysis as indicated.

Page No. 27. Schedule A-28 - UNAMORTIZED PREMIUM ON DEBT. State complete analysis as indicated on premiums applicable to each class and series of long-term debt.

Page No. 28. Schedules A-29 to A-31 inclusive. State complete analysis as indicated.

Page No. 29. Schedule B - ANALYSIS OF INCOME ACCOUNT. State complete analysis as indicated.

Page No. 30. Schedule B-1 - ANALYSIS OF GROSS OPERATING REVENUES. Slate complete analysis as indicated.

Page Nos. 31 -34. Schedule B-2 - ANALYSIS OF OPERATION AND MAINTENANCE EXPENSE ACCOUNTS. State complete analysis as indicated.

Page No. 35. Schedule B-3 - ANALYSIS OF TOTAL CORPORATION TAXES. State complete analysis as indicated.

Page No. 36. Schedule C - STATISTICAL INFORMATION. State complete analysis as indicated.

Page Nos. 37-38. Schedule D - MISCELLANEOUS DATA. Answer each question fully as indicated.

Page No. 39. Schedule E - CONTINGENT ASSETS AND LIABILITIES. Give a complete statement of significant contingent assets and liabilities at the close ofthe year.

Page No. 40. VERIFICATION. Complete as indicated.

Page No. 2A

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Kauai Island Utility Cooperative-YE 12/31/10

state full and exact name of re Date of Incorporation Nature of Business Location of Main Business Off

Island and Districts in Which S

Name

Carol Bain

Stewart Burley

David Iha Secretary

Steve M. Rapozo

Allan A. Smith Treasurer

Ben Sullivan

Teofilo Tacbian Chairman

Jan TenBruggencate

Peter Yukimura 1st Vice Chair

Title

Randall J. Hee David J. Bissell David J. Bissell David Iha Allan Smith

ORGANIZATION AND CONTROL OF RESPOND

spondent making this report: Kauai Island L Novembers, 1999 Generate, purchase, distribute and sell electric energy ce 4463 Pahee S

Lihue, Hawaii ervice is Supplied: Entire Island o

Directors

Address

Kauai Island Utility Cooperative 4463 Pahee Street, Suite #1 Lihue, Hawaii 96766-2000

Kauai Island Utility Cooperative 4463 Pahee Street, Suite #1 Lihue, Hawaii 96766-2000

Kauai Island Utility Cooperative 4463 Pahee Street, Suite #1 Lihue, Hawaii 96766-2000

Kauai Island Utility Cooperative 4463 Pahee Street, Suite #1 Lihue, Hawaii 96766-2000

Kauai Island Utility Cooperative 4463 Pahee Street, Suite #1 Lihue, Hawaii 96766-2000

Kauai Island Utility Cooperative 4463 Pahee Street, Suite #1 Lihue, Hawaii 96766-2000

Kauai Island Utility Cooperative 4463 Pahee Street, Suite #1 Lihue, Hawaii 96766-2000

Kauai Island Utility Cooperative 4463 Pahee Street, Suite #1 Lihue, Hawaii 96766-2000

Kauai Island Utility Cooperative 4463 Pahee Street, Suite #1 Lihue, Hawaii 96766-2000

Principal Officer

Name

President & CEO (resigned 2/7/11) Interim President & CEO Chief Financial Officer Secretary Treasurer

Term Expires

2013

2012

2011

2012

2013

2012

2011

2013

2011

ENT

tillty Cooperative

to member-owners treet, Suite #1 96766-2000 f Kauai

Meetings Attended

During Year

22

21

20

22

19

22

22

17

21

Shares Owned Common

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

Preferred

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

5

Date Appointed

Febmary 21, 2007 February 7, 2011 Julv 1.2006 March 30, 2010 March 30, 2010

Shares Owned Common

N/A N/A N/A N/A N/A

Prefen^ed N/A N/A N/A N/A N/A

Page 3

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Kauai Island Utility Cooperative-YE 12/31/10

State total Amount of all Outstanding Stock at close of year: $ N/A - Electric Membership Cooperative Common Shares; par value $ Preferred Preferred

Shares: par value $_ Shares; par value $,

Amount Amount Amount

Does any class of securities carry any special privileges in any elections or in the control of corporate action? If so, describe each such class or issue, showing the character and extend of such privileges: None

If during the year the respondent acquired other companies or was organized in any respect or merged or consolidated with other companies, state in detail full particulars of such tran None

Furnish complete list showing all companies controlled by respondent, either directly or indirectly; None

Furnish complete list showing companies controlling respondent None

Name all kinds of business, other than Utility in which the respondent was engaged at any time during the year. If none, state so; None

State Commission's Docket, Order numbers and effective dates authorizing present classification of rate;

Classification

Residential Service General Ught & Power Service (Small Commercial) General Light & Power Service (Large Commercial) Large Power Primary Service Large Power Secondary Service Purchases from Qualifying facilities-IOOkw or less Street Lighting Standby, Auxiliary, Supplementary or Breakdown Svce Interruptible Contract Service

State precisely the period covered by this report:

Q Modified SL

Rider S Rider

January 1, 2010 to December 31, 2010

Docket No.

2009-0050 "

Order No.

Filed "

Effective Date

09/09/10 "

.. .1

.1

•' " "

Tariff Order 2009-0050

"

Filed Filed

'•

03/05/09 09/09/10

'•

" " "

State name, title, and address of officer in charge of correspondence relative to this report; Name David J. Bissell Title Interim President & Chief Executive Officer/ Financial Vice President & CFO. Kauai Island Utility Cooperative Address 4463 Pahee Street, Suite #1, Lihue, HI 96766-2000

Page 4

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Kauai Island Utility Cooperative-YE 12/31/10

Schedule A COMPARATIVE BALANCE SHEET

ASSETS AND OTHER DEBITS Utility Plant

Utility Plant in Service Accumulated Provision for Deprec. & Amort.

Utility Plant Less Reserves

Construction Work in Progress Utility Plant Acquisition Adjustments Accum. Prov, for Amort, of Util. PIt.Acq.Adj.

Utility Plant Acquis. Adj. Less Reserves Other Utility Plant Adjustments

Total Utility Plant Less Reserves

Other Property and Investments Non-Utility Property Less Reserves Investment in Associated Companies Other Investments Special Funds

Total Other Property and Investments

Current and Accrued Assets Cash Special Deposits Working Funds Temporary Cash Investments Notes Receivable Customer Accounts Receivable Other Accounts Receivable Accumulated Prov. for Uncollect.Accts.-Cr. Receivables from Associated Companies Fuel Stock Residuals Materials and Supplies-Utility Materials and Supplies-Merchandise Materials and Supplies~Non-Utility Stores Expense Prepayments Interest and Dividends Receivable Rents Receivable Accrued Utility Revenues Miscellaneous Current and Accrued Assets

Total Current and Accrued Assets

Deferred Debits Unamortized Debt Discount and Expense Notes Receivable-SSPP Preliminary Survey and Investigation Charges Clearing Accounts Temporary Facilities Miscellaneous Deferred Debits Regulatory Commission Expenses

Total Deferred Debits TOTAL ASSETS AND OTHER DEBITS

Sched. No.

A-1 A-2

A-1 A-1 A-3

A-1

A-4 A-5

A-5-A A-6

A-7

A-8

A-9

A-10

A-11

A-12

A-13 A-14

A-15 A-16

Balance 1/1/10 Beg of Year

x x x x x x x x x x x $ 385,098,649

(195,951,611) 189,147,038

13,463,888 54,852,453

(15,722,870)

-

241,740,509

x x x x x x x x x x x

1,261,484

-1,261,484

x x x x x x x x x x x 2,855,100

9,710 2,000

51,709

10,534,914 1,490.460

(1,176,683)

1,587,725

11,732,716

1,196,222 7

7,275,331 -

35,559,211

x x x x x x x x x x x

-591,856

-

330,778 4,966,896 5,889,530

$ 284,450,734

Balance 12/31/10 Close of Year

x x x x x x x x x x x $ 396,023,652

(203,317,430) 192,706,222

11,789.712 54,852,453

(17.917,052)

-

241,431,335

x x x x x x x x x x x

1,246,742

-1,246,742

x x x x x x x x x x x 6,032.688

9,710 2,000

51,807

9.757.788 648,059

(711,029)

1,422,800

12,794,598

954,729 9

8,167,434 -

39,130,593

x x x x x x x x x x x

-1,419.628

3,858

417,179 4,494,625 6,335,290

$ 288,143,960

Increase or (Decrease)

x x x x x x x x x x x $ 10,925,003

(7,365,819) 3,559,184

(1,674,176) 0

(2,194,182)

-

(309,174)

x x x x x x x x x x x

(14,742) --

(14,742)

x x x x x x x x x x x 3.177,588

--98

(777,126) (842,401) 465.654

(164,925)

1,061,882

(241.493) 2

892,103 -

3,571,382

x x x x x x x x x x x

-827,772

3,858

86,401 (472,271) 445,760

$ 3,693,226

Pages

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Kauai Island Utility Cooperative-YE 12/31/10

Schedule A COMPARATIVE BALANCE SHEET

LIABILITIES AND OTHER CREDITS Proprietary Capital

Common Stock Issued Preferred Stock Issued Capital Stock Subscribed Patronage Capital Memberships Other Equities & Retired Capital Credits Capital Stock Expense Appropriated Retained Earnings Unappropriated Retained Earnings Reacquired Capital Stock

Total Proprietary Capital Division Capital Long-Term Debt

Bonds Advances from Associated Companies Other Long-Term Debt

Other Long-Term Debt

Current and Accrued Liabilities Notes Payable Accounts Payable Payables to Associated Companies Customer Deposits Taxes Accrued Interest Accnjed Patronage Capital Payable Matured Long-Term Debt Tax Collections Payable Misc. Cun'ent and Accrued Liabilities

Total Current and Accrued Liabilities

Deferred Credits Unamortized Premiums on Debt Customer Advances For Construction Other Deferred Credits Accumulated Deferred Investment Tax Cr.

Total Deferred Credits

Operating Reserves Property Insurance Reserve Injuries and Damages Reserve Pensions and Benefits Reserve Miscellaneous Operating Reserve

Total Operating Reserves Contributions in Aid of Construction

Accumulated Deferred Income Taxes Accum Def Inc Taxes-Lib. Depr. Accum Def Inc Taxes-Other

Total Accum Def Inc Taxes TOTAL LIABILITIES AND OTHER CREDITS

Sched. No.

A-17 A-18

A-20 A-21

A-19

A-22

A-23 A-23 A-23

A-24

A-24 A-25

A-28 A-26 A-27 A-30

A-31

A-29 A-29

Balance 1/1/10 Beg of Year

x x x x x x x x x x x

-

$ 51,316,308 391

951.678 ----

52.268,377 -

--

192,820.610 192,820,610

x x x x x x x x x x x 2.000.000 7.438.615

1,137,879 4,947,846

105,142 18,476

8,875,500 -

4,457,987 28,981,445

x x x x x x x x x x x

3,693,275 6.687,027

-10,380,302

x x x x x x x x x x x

--

x x x x x x x x x x x

--

$ 264,450,734

Balance 12/31/10 Close of Year

x x x x x x x x x x x

-

$ 59.755.656 409

1,162,490 ----

60,918,555 -

--

188,520.589 188,520,589

x x x x x x x x x x x

7,337,948

1,048,833 7,203,240

96,417 22,895

9,261,000 -

4,106,209 29,076,542

x x x x x x x x x x x

3.664,968 5,963,306

-9,628,274

x x x x x x x x x x x

--

x x x x x x x x x x x

--

$ 288,143,960

Increase or Decrease

x x x x x x x x x x x

-

$ 8.439.348 18

210,812 ----

8,650,178 -

--

(4,300,021) (4,300,021)

x x x x x x x x x x x (2,000,000)

(100,667)

(89,046) 2,255,394

(8,725) 4,419

385,500 -

(351.778) 95,097

x x x x x x x x x x x

(28,307) (723,721)

-(752,028)

x x x x x x x x x x x

--

x x x x x x x x x x x

--

$ 3,693,226

Page 6

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Page 16: Kaua' i Island ^^'' ^- Utility Cooperative ZGM HAR 23 A IO 32puc.hawaii.gov/wp-content/uploads/2014/06/KIUC-AFR-2010.pdf4463 Pake 'e Street, Suite I • Lihue. Kaua V. HI 96766-2000

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Page 17: Kaua' i Island ^^'' ^- Utility Cooperative ZGM HAR 23 A IO 32puc.hawaii.gov/wp-content/uploads/2014/06/KIUC-AFR-2010.pdf4463 Pake 'e Street, Suite I • Lihue. Kaua V. HI 96766-2000

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Page 18: Kaua' i Island ^^'' ^- Utility Cooperative ZGM HAR 23 A IO 32puc.hawaii.gov/wp-content/uploads/2014/06/KIUC-AFR-2010.pdf4463 Pake 'e Street, Suite I • Lihue. Kaua V. HI 96766-2000

Kauai Island Utility Cooperative-YE 12/31/10

Schedule A-4 NON-UTILITY PLANT

DESCRIPTION - NON-UTILITY ASSETS

1211 Land and Land Rights 1212 Structures and Improvements 1213 Furniture and Equipment

TOTAL

Balance Beginning

of Year 0 0 0

0

Debits During Year

0

Credits During Year

0

Balance Close of Year

0 0 0

0

Schedule A-4 RESERVE FOR DEPRECIATION

NON-UTILITY PLANT

DESCRIPTION NON-UTILITY ASSETS

1211 Land and Land Rights 1212 Structures and Improvements 1213 Furniture and Equipment

TOTAL

Balance Beginning

of Year 0 0 0

0

Debits Durijig Year

0

Credits During Year

0

Balance Close of Year

0 0 0

0

Page 14a

Page 19: Kaua' i Island ^^'' ^- Utility Cooperative ZGM HAR 23 A IO 32puc.hawaii.gov/wp-content/uploads/2014/06/KIUC-AFR-2010.pdf4463 Pake 'e Street, Suite I • Lihue. Kaua V. HI 96766-2000

Kauai Island Utility Cooperative-YE 12/31/10

Schedule A-5 INVESTMENT IN ASSOCIATED COMPANIES

DESCRIPTION OF ITEM

CFO Loan Capital Term Certificates CFC Patronage Capital CFC SCTC's CFC Membership Fee CFC Member Capital Securities NISC Patronage Capital Ruralite Patronage Capital Economic Development Loan - NTBG Economic Development Loan - Island School Revolving Loan Fund Loan - Hale Opio

TOTAL

Date Acquired 12/17/03

N/A N/A

12/30/99 03/02/09

N/A N/A

03/17/08 09/04/08 03/06/08

x x x x x x

Date of Maturity 01/01/24

N/A N/A N/A

03/02/44 N/A N/A

03/17/18 09/04/18 03/06/18

x x x x x x

Amount

164,800 119,122 73,975

1,000 250,000

884 0

271.875 290,625

74,461

1,246,742

Book Cost End of Year

0 0 0 0 0 0 0 0 0 0

0

Revenues For Year

0 30,046

1,743 0

18,750 420

9,549 0 0

816

61,324

Gain or Loss from Investment

0 0 0 0 0 0 0 0 0 0

0

Schedule A-5-A OTHER INVESTMENTS

DESCRIPTION OF ITEM

NONE

TOTAL

Date Acquired

x x x x x x

Date of Maturity

x x x x x x

Amount

0

Book Cost End of Year

0

Revenues For Year

0

Gain or Loss from

Investment

0

Schedule A-6 SPECIAL FUNDS

NAME AND PURPOSE OF FUND

NONE

TOTAL

Balance End of Year

0

Page 15

Page 20: Kaua' i Island ^^'' ^- Utility Cooperative ZGM HAR 23 A IO 32puc.hawaii.gov/wp-content/uploads/2014/06/KIUC-AFR-2010.pdf4463 Pake 'e Street, Suite I • Lihue. Kaua V. HI 96766-2000

Kauai IslantJ Utility Cooperative-YE 12/31/10

Schedule A-7 SPECIAL DEPOSITS

DESCRIPTION AND PURPOSE OF DEPOSIT

Deposit - Bank of Hawaii Savings Certificate Deposit - Department of Land and Natural Resources

TOTAL

Balance End of Year

1,376 8,334

9,710

Schedule A-8 TEMPORARY CASH INVESTMENTS

DESCRIPTION OF ITEM

CFC Daily Fund

TOTAL

Par or Stated Value

51,807

51,807

Book Cost End of Year

51,807

51,807

Ledger Value 51,807

51,807

Revenues For Year

99

99

Schedule A-9 ACCUMULATED PROVISION FOR UNCOLLECTIBLE ACCOUNTS-CR.

ITEM

Balance Beginning of Year Prov. for Uncollectibles for Year Accounts Written Off Collection of Accts. Written Off Adjustments: (Explain)

Transfer prior v riteoff of bankrupt accounts

Balance End of Year

Utility Customers

566,412 154,332

(266,271) 29,191

0

(83,430)

400,234

Merchandise, Jobbing and

Contact Work 610,271

9,824 0

(309,300) 0

310.795

Officers and

Employees

0

Other

0

Total

1,176,683 164,156

(266,271) (280,109)

0

(83,430)

711,029

Page 16

Page 21: Kaua' i Island ^^'' ^- Utility Cooperative ZGM HAR 23 A IO 32puc.hawaii.gov/wp-content/uploads/2014/06/KIUC-AFR-2010.pdf4463 Pake 'e Street, Suite I • Lihue. Kaua V. HI 96766-2000

Kauai Island Utility Cooperative-YE 12/31/10

Schedule A-10 FUEL STOCK

Beginning of Year (excludes fuel for vehicles)

Purchased During Year:

Consumed During Year:

End of Year

Balance End of Year

Total Cost 1,587,725

68,734.771

68,899,696

1.422,800

Naphtha Barrels

9.840

376,280

377,509

8,611

Cost 839,112

33,290,814

33,286,493

843.433

Diesel Barrels

7,304

335,452

335,588

7.168

Cost 725,434

34,676,647

34,829,270

572.811

Schedule A-11 PREPAYMENTS

NATURE OF PAYMENTS

Prepaid Other

Prepaid Rent

Prepaid Insurance

TOTAL

Balance End of Year

79,407

99,967

1,016,848

1.196.222

Schedule A-12 MISCELLANEOUS CURRENT AND ACCRUED ASSETS

DESCRIPTION OF tTEM

NONE

TOTAL

Balance End of Year

0

Used Oil Barrels

265

9,952

10.117

100

Cost 23.179

767,310

783,933

6,556

Page 17

Page 22: Kaua' i Island ^^'' ^- Utility Cooperative ZGM HAR 23 A IO 32puc.hawaii.gov/wp-content/uploads/2014/06/KIUC-AFR-2010.pdf4463 Pake 'e Street, Suite I • Lihue. Kaua V. HI 96766-2000

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Page 23: Kaua' i Island ^^'' ^- Utility Cooperative ZGM HAR 23 A IO 32puc.hawaii.gov/wp-content/uploads/2014/06/KIUC-AFR-2010.pdf4463 Pake 'e Street, Suite I • Lihue. Kaua V. HI 96766-2000

Kauai Island Utility Cooperative-YE 12/31/10

Schedule A-14 EXTRAOROINARY PROPERTY LOSSES

DESCRIPTION OF ITEM

NONE

Total

Total Amount of Loss

Previously Written Off

Written Off During Year Ac. Charged Amount

Balance End of Year

Schedule A-15 MISCELLANEOUS DEFERRED DEBITS

DESCRIPTION OF OTHER DEFERRED DEBITS

Other Work-in-Progress Stimulus Programs

TOTAL

Schedule A-16 DEFERRED REGULATORY COMMISSION EXPENSES

DESCRIPTION OF CASE

(A) Inikt Deferred Depreciation -HPUC D8,0 12064 dated 12/9/92 pg. 7 being amortized over 28 years beginning 10/1/96.

(B) FASB106 - HPUC D&O 13659 dated 11/29/94 amortized over 18 years beginning 1/1/95.

(C) DSM proiect costs and recoveries - HPuC D&O 15733 dated 8/5/97 (D) IRP proiect costs and recoveries - HPUC D&O 15733 dated 8/5/97 (E) Solar Water Heating Pay-As-You-Save - HPUC D&O 23531 dated 6/29/07 (F) 2009 Rate Case (G) Pension Costs Tracking

Total Expenses of Case

$ 3,726.252

206,937

1.938,842

$ 5,872,031

Amortization Previous Year $ 292,260

68,988

-

$ 361,248

Current Year $ 292,260

68.988

1,079,342

$ 1,440,590

Balance End of Year

353,147 64,032

417,179

Balance End of Year

$ 3,433,992

137,949

260,296 (312.229)

61,391 859.500

53,726

$ 4,494,625

Page 19

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Kauai Island Utility Cooperative-YE 12/31/10

Schedule A-17 COMMON STOCK ISSUED

DESCRIPTION

NONE

Total

Par or Stated Value

Per Share

0

Number of Shares At End of Year

Authorized

0

Outstanding^

0

Book Liability Actually Outstanding

At End of Year

0

Premium or Discount

0

Schedule A-18 PREFERRED STOCK ISSUED

Series

NONE

Dividend Rate

Total

Face Amount

0

Date of issue

0

Date of Maturity

Premiums or Discount

Amount Actually Outstanding

0

Schedule A-19 REACQUIRED CAPITAL STOCK

CAPITAL STOCK

NONE

Total

Number of Shares

Reacquired

0

Cost Per Share Reacquired

0

Balance End of Year

0

Page 20

Page 25: Kaua' i Island ^^'' ^- Utility Cooperative ZGM HAR 23 A IO 32puc.hawaii.gov/wp-content/uploads/2014/06/KIUC-AFR-2010.pdf4463 Pake 'e Street, Suite I • Lihue. Kaua V. HI 96766-2000

Kauai Island Utility Cooperative-YE 12/31/10

Schedule A-20 CAPITAL STOCK EXPENSE

CLASS AND SERIES OF STOCK

NONE

Total

Balance End of Year

0

Page 21

Page 26: Kaua' i Island ^^'' ^- Utility Cooperative ZGM HAR 23 A IO 32puc.hawaii.gov/wp-content/uploads/2014/06/KIUC-AFR-2010.pdf4463 Pake 'e Street, Suite I • Lihue. Kaua V. HI 96766-2000

Kauai Island Utility Cooperative-YE 12/31/10

Schedule A-21 ANALYSIS OF APPROPRIATED RETAINED EARNINGS

ITEM

CREDITS Give nature of each credit and account charged:

NONE

Total Credits

DEBITS Give nature of each credit and account charged:

NONE

Total Debits

BALANCE END OF YEAR

Account

x x x x x x x x x x x

x x x x x x x x x x x

x x x x x x x x x x x

x x x x x x x x x x x x x x x x x x x x x x

x x x x x x x x x x x

x x x x x x x x x x x

Amount

x x x x x x x x x x x

--

x x x x x x x x x x x x x x x x x x x x x x

-

Page 22

Page 27: Kaua' i Island ^^'' ^- Utility Cooperative ZGM HAR 23 A IO 32puc.hawaii.gov/wp-content/uploads/2014/06/KIUC-AFR-2010.pdf4463 Pake 'e Street, Suite I • Lihue. Kaua V. HI 96766-2000

Kauai Island Utility Cooperative-YE 12/31/10

Schedule A-22 ANALYSIS OF UNAPPROPRIATED RETAINED EARNINGS (DIVISION CAPITAL)

Retained Earnings, Beginning of Year

TOTAL CREDITS

TOTAL DEBITS

RETAINED EARNINGS ~ End of Year

Amount -

-

-

-

-

Increase or (Decrease) From Preceding Year

-

-

-

Page 23

Page 28: Kaua' i Island ^^'' ^- Utility Cooperative ZGM HAR 23 A IO 32puc.hawaii.gov/wp-content/uploads/2014/06/KIUC-AFR-2010.pdf4463 Pake 'e Street, Suite I • Lihue. Kaua V. HI 96766-2000

Kauai Island Utility Cooperative-YE 12/31/10

Schedule A-23 LONG-TERM DEBT

CLASS AND SERIES OF OBLIGATION

Rural Utility Service (RUS) Rinancinq less: RUS Cushion of Credit

RUS/FFB-KPP Purchase Financing

Natl Rural Utility Coop Finance Corp (CFC) (KPP Purchase)

less: Current Maturities of Long-term Debt

Interest Expense on Customer Deposits Other Interest Expense - LOG

Total

Date of Issue

11/01/02

10/19/04

12/18/03

X X X XX XX

Maturity Date

10/31/27

12/31/23

12/17/23

X X X X X X X

Amount Authorized

-

Amount Outstanding

$ 175.908,136 $ (10,154.516)

$ 26,221.746

5,806,223

(9,261,000)

$ 188.520.589

Interest Expense For the Year

$ 7,797,447

$ 1,076,411

187.464

80,017 83,859

$ 9.225,198

PREMIUM OR DISCOUNTI Balance

End of Year

-

Amortized During Year

-

Page 24

Page 29: Kaua' i Island ^^'' ^- Utility Cooperative ZGM HAR 23 A IO 32puc.hawaii.gov/wp-content/uploads/2014/06/KIUC-AFR-2010.pdf4463 Pake 'e Street, Suite I • Lihue. Kaua V. HI 96766-2000

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Page 30: Kaua' i Island ^^'' ^- Utility Cooperative ZGM HAR 23 A IO 32puc.hawaii.gov/wp-content/uploads/2014/06/KIUC-AFR-2010.pdf4463 Pake 'e Street, Suite I • Lihue. Kaua V. HI 96766-2000

Kauai Island Utility Cooperative-YE 12/31/10

Schedule A-25 MISCELLANEOUS CURRENT AND ACCRUED LIABILITIES

Description

FAS-158 Accumulated Post-Retirement Benefit Obligation Liability NBU & BU Employees Vacation Accrual NBU & BU Accrued Payroll Energy Rate Adjustment Transportation Expense Clearing

Total

Balance End of Year

$ 1,980,600 597,873

1,527,770 -(34)

$ 4,106,209

Schedule A-26 CUSTOMER ADVANCES FOR CONSTRUCTION

Item

Balance Beginning of Year Advances By Customers Refunds To Customers

Transferred to CIAC Balance End of Year

Debit Credit Amount

$ 3,693,275 471,525 (401,348)

(98,484) $ 3.664,968

Schedule A-27 OTHER DEFERRED CREDITS

Description of Deferred Credits

Iniki Deferred Depreciation (Contra) Schedule A-16 Hitachi Major Overhaul Boiler Overhaul Steam Turbine/Plant Auxiliary Gas Turbine Overhaul KPS Overhaul RUS Rural Economic Development Grant

Total

Balance End of Year

$ 3,433,992 163,280 106,170 147,348 355,994 835,983 920,539

$ 5,963,306

Page 26

Page 31: Kaua' i Island ^^'' ^- Utility Cooperative ZGM HAR 23 A IO 32puc.hawaii.gov/wp-content/uploads/2014/06/KIUC-AFR-2010.pdf4463 Pake 'e Street, Suite I • Lihue. Kaua V. HI 96766-2000

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Page 32: Kaua' i Island ^^'' ^- Utility Cooperative ZGM HAR 23 A IO 32puc.hawaii.gov/wp-content/uploads/2014/06/KIUC-AFR-2010.pdf4463 Pake 'e Street, Suite I • Lihue. Kaua V. HI 96766-2000

Kauai Island Utility Cooperative-YE 12/31/10

Schedule A-29 ACCUMULATED DEFERRED INCOME TAXES

ITEMS NONE

Total

Balance Beginning of Year

-----------

Changes During Year Amts. Debited

-----------

Amts. Credited -----------

Balance End of Year

-----------

Schedule A-30 ACCUMULATED DEFERRED INVESTMENT TAX CREDITS

ITEMS NONE

Total

Balance Beginning of Year

-

-

Changes Amts. Debited

-

-

During Year Amts. Credited

-

-

Balance End of Year

-

-

Schedule A-31 CONTRIBUTIONS IN AID OF CONSTRUCTION

Balance Beginning of Year

NONE

Balance End of Year

Debits Credits Amount $

-

---

$ -

Page 28

Page 33: Kaua' i Island ^^'' ^- Utility Cooperative ZGM HAR 23 A IO 32puc.hawaii.gov/wp-content/uploads/2014/06/KIUC-AFR-2010.pdf4463 Pake 'e Street, Suite I • Lihue. Kaua V. HI 96766-2000

Kauai Island Utility Cooperative-YE 12/31/10

Schedu le B ANALYSIS OF INCOME ACCOUNT

ACCOUNT TITLE

UTILITY OPERATING INCOME Operating Revenues Operating Expenses

Operating Expense Maintenance Expense Depreciation Expense Amortization of Utility Plant Amortization of Utility Plant Acquis. Adj. Amortization of Property Losses Taxes Other Than Income Taxes Income Taxes

Provision for Deferred Income Taxes Provision for Deferred Investment Tax Or. Income Taxes Deferred in Prior Yrs.-Cr. Amortization of Def. Investment Tax Cr.-Cr.

Total Operating Expenses

Operating Income

Income from Utility Plant Leased to others

Total Operating Income

OTHER INCOME Income from Mdse., Jobbing & Contract W/ork (Net) Capital Credits & Patronage Non-operating Rental Income Interest & Dividend Income Allowance for Funds Used During Construction Miscellaneous Non-operating Income

Total Other Income OTHER INCOME DEDUCTIONS

Miscellaneous Amortisation Miscellaneous Income Deductions

Total Other Income Deductions Total Other Income and Deductions

INTEREST CHARGES

Interest on Long-Term Debt Amortization of Debt Discount & Expense Amortization of Premium on Debt Or. Interest on Debt to Associated Companies Other Interest Expenses

Total Interest Charges Income Before Extraordinary Items

EXTRAORDINARY ITEMS Extraordinary Income Extraordinary Deductions Income Taxes, Extraordinary Items

Total Extraordinary Items

NET MARGINS

Sched. No.

B-1

B-2

B-2

B-3 B-3 B-3

Amount

$ 155,254,043

98,332,202 10,779,134 12,401,232

2,194,182

13,047,862

136,754,612

18,499,431

18,499,431

47,509 40,015 77,015

637,917

816 803,271

121,383

121,383

681,889

9,061,322

163.876 9,225,198

9,956.122

$ 9.956.122

Increase (Decrease)

From Previous Year

$ 25,592,608

20,721,939 656,615

(2,140,919)

-

2,109,256

21,346,891

4,245,717

4,245,717

1,288 290

7,761 (147,946)

(39,343) (177,951)

44,220

44,220

(222,170)

(441,015)

82,197

(358,818)

4,382,365

$ 4.382.365

Page 29

Page 34: Kaua' i Island ^^'' ^- Utility Cooperative ZGM HAR 23 A IO 32puc.hawaii.gov/wp-content/uploads/2014/06/KIUC-AFR-2010.pdf4463 Pake 'e Street, Suite I • Lihue. Kaua V. HI 96766-2000

Kauai Island Utility Cooperative-YE 12/31/10

Schedule B-1 ANALYSIS OF GROSS OPERATING REVENUES

Utility Department

ACCOUNT TITLE

Operating Revenues:

Residential Comb. Lighting, Heating and Small Power "D" General Lighting Service "0" General Lighting Service "G" General Lighting Service "J" Large Power "P" Large Power "L" Optional Power Industrial Contract Governmental Street, Highway & Park Lighting "SL" Eiectric Service for Employees "E" Irrigation

Sub-Total Other Operating Revenues:

Late Payment Fees Miscellaneous Service Revenues Rent From Property Other Revenues

Sub-Total

Total Gross Operating Revenues

Current Year

$ 58,488.332

22,536,553 18.708,703 38,937,220 14,896,041

1,381,050 111,316 35,886

$ 155,095,101

120,199 34.011 4,732

$ 158,942

$ 155,254,043

Previous Year

$ 48,458.840

18,738,834 15,861,517 32,715,713 11,999,215

1,160,789 301,053 264.087

$ 129,500,048

117,312 33,772 10,303

$ 161,387

$ 129,661,435

Page 30

Page 35: Kaua' i Island ^^'' ^- Utility Cooperative ZGM HAR 23 A IO 32puc.hawaii.gov/wp-content/uploads/2014/06/KIUC-AFR-2010.pdf4463 Pake 'e Street, Suite I • Lihue. Kaua V. HI 96766-2000

Kauai Island Utility Cooperative-YE 12/31/10

Schedu le B-2

ANALYSIS OF OPERATION AND MAINTENANCE EXPENSE ACCOUNTS

ACCOUNT TITLE

POWER PRODUCTION EXPENSES Steam Power Generation

Operation 500 Operation Supervision and Engineering

501 Fuel

502 Steam Expenses 503 Steam from Other Sources

504 Steam Transferred~Cr.

505 Electric Expenses

506 Miscellaneous Steam Power Expenses

507 Rents

Total Operation

Maintenance

510 Maintenance Supervision and Engineering

511 Maintenance of Structures 512 Maintenance of Boiler Plant

513 Maintenance of Electric Plant

514 Maintenance of Miscellaneous Steam Plant

Total Maintenance

Total Steam Power Generation

Hydraulic Power Generation

Operation 535 Operation Supervision and Engineering

536 Water for Power

537 Hydraulic Expenses

538 Electric Expenses 539 Misc. Hydraulic Power Generation Expenses

540 Rents

Total Operation

Maintenance 541 Maintenance Supervision and Engineering

542 Maintenance of Structures 543 Maintenance of Reservoirs, Dams and Watenways

544 Maintenance of Electric Plant

545 Maintenance of Miscellaneous Hydraulic Plant

Total Maintenance

Total Hydraulic Power Generation

Other Power Generation

Operation

546 Operation Supervision and Engineering 547 Fuel 548 Generation Expenses

549 Miscellaneous Other Power Generation Expenses 550 Rents

Total Operation

Current Year

837,631

771,614

474

1,609,718

16,106 139,363 84,039 75,897

315,405

1,925,123

37,737

37,737

242,745

11,125

253,870

291,607

636,791 68,899,697

2,970,201 802.200

73,308,889

Previous Year

716,535

775,535

2,778

1,494,848

23,143

210,016 83,556 68,486

385,203

1,880,051

37,320

37,320

258,906 35,108

294,014

331,334

558,424 51,952,273

2,776.138 909,791

56,196,626

Page 31

Page 36: Kaua' i Island ^^'' ^- Utility Cooperative ZGM HAR 23 A IO 32puc.hawaii.gov/wp-content/uploads/2014/06/KIUC-AFR-2010.pdf4463 Pake 'e Street, Suite I • Lihue. Kaua V. HI 96766-2000

Kauai Island Utility Cooperative-YE 12/31/10

ANALYSIS OF OPERATION A N D MAINTENANCE EXPENSE A C C O U N T S - (Cont inued)

ACCOUNT TITLE

Maintenance 551 Maintenance Supervision and Engineering 552 Maintenance of Structures 553 Maintenance of Generating and Electric Plant 554 Maint. of Misc. Other Power Generation Plant

Total Maintenance

Total Other Power Generation

Other Power Supply Expenses 555 Purchased Power 556 System Control and Load Dispatching 557 Other Expenses

Total Other Power Supply Expenses ,

TOTAL PRODUCTION EXPENSES

TRANSMISSION EXPENSES Operation

560 Operation Supervision and Engineerinq 561 Load Dispatching 562 Station Expenses 563 Overhead Line Expenses 564 Underground Line Expenses 565 Transmission of Electricity by Others 566 Miscellaneous Transmission Expenses 567 Rents

Total Operation Maintenance

568 Maintenance Supervision and Engineering 569 Maintenance of Structures 570 Maintenance of Station Equipment 571 Maintenance of Overhead Lines 572 Maintenance of Underground Lines 573 Maintenance of Miscellaneous Transmission Plant

Total Maintenance

TOTAL TRANSMISSION EXPENSES

DISTRIBUTION EXPENSES Operation

580 Operation Supervision and Engineering 581 Load Dispatching 582 Station Expenses 583 Overhead Line Expenses 584 Underground Line Expenses 585 Street Lighting and Signal System Expenses 586 Meter Expenses 587 Customer Installations Expenses 588 Miscellaneous Distribution Expenses 589 Rents

Total Operation

Current Year

731,944 166,596

5,702,100

6,600,639

79,909,529

4,446,722 239,655

4,686,377

86,812,636

1,955

105,073 31,379

185,530 74,727

398,664

340,523 332,285

672,808

1,071,472

3,681

120,401 72,373 18,950

567,975

526,132 12,647

1.322.158

Previous Year

657,718 120,028

5,293,562

6,071.308

62,267.934

3,863,145 251,162

4.114,307

68,593,626

1,433

70,087 27,493

194,119 52,300

345.432

424.636 259,873

684.509

1.029.941

1,711

89,696 73,191 11,044

623,009

539,663 12,370

1.350.684

Page 32

Page 37: Kaua' i Island ^^'' ^- Utility Cooperative ZGM HAR 23 A IO 32puc.hawaii.gov/wp-content/uploads/2014/06/KIUC-AFR-2010.pdf4463 Pake 'e Street, Suite I • Lihue. Kaua V. HI 96766-2000

Kauai Island Utility Cooperative-YE 12/31/10

ANALYSIS OF OPERATION AND MAINTENANCE EXPENSE ACCOUNTS- (Continued)

ACCOUNT TITLE Maintenance

590 Maintenance Supervision and Engineering 591 Maintenance of Stmctures 592 Maintenance of Station Equipment 593 Maintenance of Overhead Lines 594 Maintenance of Underground Lines 595 Maintenance of Line Transformers 596 Maintenance of Street Lighting & Signal Systems 597 Maintenance of Meters 598 Maintenance of Miscellaneous Distribution Plant

Total Maintenance

TOTAL DISTRIBUTION EXPENSES

TOTAL TRANSMISSION & DISTRIBUTION EXPENSES

CUSTOMER ACCOUNTS Operation

901 Supervision 902 Meter Reading Expenses 903 Customer Records and Collection Expenses 904 Uncollectible Accounts 905 Miscellaneous Customer Accounts Expenses 907-912 Additional Customer Accounts Expenses

TOTAL CUSTOMER ACCOUNTS

SALES EXPENSES Operation

911 Supervision 912 Demonstratinq and Selling Expenses 913 Advertising Expenses 914 Revenues from Merchandising, Jobbing and

Contract Work 915 Costs and Expenses of Merchandising,

Jobbina and Contract Work 916 Miscellaneous Sales Expenses

TOTAL SALES EXPENSES

ADMINISTRATIVE AND GENERAL EXPENSES Operation

920 Administrative and General Salaries 921 Office Supplies and Expenses 923.30 Administrative Office Expenses 923 Outside Services Employed 924 Property Insurance 925 Injuries and Damages 926 Employee Pensions and Benefits 927 Franchise Requirements 928 Regulatory Commission Expenses 929 Duplicate Charqes-Cr. 930 Miscellaneous General Expenses 931 Rents

Total Operation

Cun'ent Year

3,130

334,115 1,802,103

338,323 -

53.347 3.566

2,534,584

3.856,742

4,928,214

384.343 410,034

1,552,901 164,260

706,946 3,218,484

-

5,062,861 1,178,277

2,256,744 567.522

2,414,081

868.178 1,402,512

13,750,175

Previous Year

4,717

264,027 1,672,443

275,576 50

73,308 4,598

2,294,719

3,645,403

4,675,344

364,322 406,154

1,400,820 136.701

888,082 3,196,079

-

4,843,483 976.759

1,206.962 574,574

1,011,629

833,680 1,427,880

10,874,967

Page 33

Page 38: Kaua' i Island ^^'' ^- Utility Cooperative ZGM HAR 23 A IO 32puc.hawaii.gov/wp-content/uploads/2014/06/KIUC-AFR-2010.pdf4463 Pake 'e Street, Suite I • Lihue. Kaua V. HI 96766-2000

Kauai Island Utility Cooperative-YE 12/31/10

ANALYSIS OF OPERATION AND MAINTENANCE EXPENSE ACCOUNTS-- (Continued)

ACCOUNT TITLE Maintenance

935 Maintenanceof General Plant

TOTAL ADMIN. & GENERAL EXPENSES

TOTAL OPERATING EXPENSES

TOTAL OPERATION EXPENSES

TOTAL MAINTENANCE EXPENSES

Current Year

401,828

14,152,002

109,111,336

98,332,202

10,779,134

Previous Year

392,766

11,267,733

87,732,782

77,610,263

10,122,519

Page 34

Page 39: Kaua' i Island ^^'' ^- Utility Cooperative ZGM HAR 23 A IO 32puc.hawaii.gov/wp-content/uploads/2014/06/KIUC-AFR-2010.pdf4463 Pake 'e Street, Suite I • Lihue. Kaua V. HI 96766-2000

Kauai Island Utility Cooperative-YE 12/31/10

Schedule B-3 ANALYSIS OF TOTAL CORPORATION TAXES

DESCRIPTION OF TAX

STATE TAXES: Income Tax Use Tax General Excise Tax Franchise Tax Unemployment Tax Public Service Company Tax Property Tax

Total State Taxes

FEDERAL TAXES: Income Tax F.I.C.A. Unemployment Tax Vehicle Use Capital Gains

Total Federal Taxos

FEES AND LICENSES: Motor Vehicle Tax Public Utility Fee

Total Fees and Licenses

TOTAL CORPORATION TAXES

Rate Total Taxes

Charged During Year

(16,048) 279,670

51,214 3,887,025

49,810 9,150,056

5,907 ---

13,407,634

4,114 1,047,851

9,268 ----

1,061,233

21,275 777,405

--

798,680

$ 15,267,547

DISTRIBUTION OF TAXES 1 Tax

Expense

51,214 3,876,767

9,125,908 5,907

13.059,796

-

-

$ 13,059,796

Income Taxes

(16,048)

(16,048)

4,114

4,114

-

$(11,934)

Charged To Plant

139,835

9,464

149,299

199,092 1,761

200,853

-

$350,152

Other Accounts

139,835

10,258 40,346 24,148

214,587

848.759 7,507

856,266

21,275 777,405

798,680

$ 1,869,533

Non-Utility

-

-

$ -

Page 35

Page 40: Kaua' i Island ^^'' ^- Utility Cooperative ZGM HAR 23 A IO 32puc.hawaii.gov/wp-content/uploads/2014/06/KIUC-AFR-2010.pdf4463 Pake 'e Street, Suite I • Lihue. Kaua V. HI 96766-2000

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Page 41: Kaua' i Island ^^'' ^- Utility Cooperative ZGM HAR 23 A IO 32puc.hawaii.gov/wp-content/uploads/2014/06/KIUC-AFR-2010.pdf4463 Pake 'e Street, Suite I • Lihue. Kaua V. HI 96766-2000

Kauai Island Utility Cooperative-YE 12/31/10

Schedule D MISCELLANEOUS DATA

Electric Utilities State whether Electric energy is generated If purchased, state from whom: State terms and duration of contract;

State contract price per K.W. Hr.

or purchased Generated and Purchased Gay & Robinson, Kekaha Aq Association, Kauai Coffee Co. Doc. 4163, D&O 6528 approved in 1981 : Doc. 4284, D&O 6684 approved in 1981; Doc. 4996, D&O 7801 approved in 1984; Doc. 97-0213. Various prices - as per contracts approved above.

D&O 16396 approved in 1998.

Generating Stations

LOCATION OF STATIONS

Ron Allen. Kauai Port Allen. Kauai Port Allen, Kauai Port Allen, Kauai Port Allen, Kauai Kapaia Power Station Upper and Lower Waiahi

TOTALS

State generation capacity State peak demand State whether service supplied is "A-C" or

MOTIVE POWER

No. of Units 1 2 3 2 4 1 2

122,550 KW 76,540 KW

"D-C" State average daily maximum toad on outgoing lines

* State total bbls. fuel oil: Purchased 721,685

A-C N/A

; Consumed ' State total cost fuel oil; Purchased $ 68,734,771 : Cost per bbl • State total cost fuel oil: Consumed $ 68,899,696 ; Avg. cost per

State total fuel oil adiustment Revenues $ 31,618,442 ; Bbl. consumed Cost of fuel oil per K.W.Hr: Generated $ $0.16199 ; per K.W. Hr. sold $ How often are meters tested? Give details Meters are tested per Rule No. 11A

State Peak Demand and Date of Peak for Each Month Date Peak

Jan Feb Mar Apr May June

01/26/10 02/24/10 03/09/10 04/07/10 05/12/10 06/17/10

71,230 68,180 68,330 69,140 67.950 68,440

Jul Aufl Sep Oct Nov Dec

Tvoes of Unit Steam Diesel Diesel Gas Turbine Diesel Steam-lniected Gas Turbine Hydro

K.W. Hrs. 723,216 On hand $95.24 $95.27 17,219

$0.15856 How many tested?

Date 07/29/10 08/09/10 09/23/10 10/21/10 11/09/10 12/28/10

Rated Capacity in

K.W 10.000 4,000 8.250

40.100 31,400 27,500

1,300

122,550

15.880

1,652

Peak 70,350 70,400 69.850 71,820 71,930 76.540

• diesel & naphtha combined

Page 37

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Kauai Island Utility Cooperative-YE 12/31/10

Schedule D (Continued) MISCELLANEOUS DATA

Transmission Substations

LOCATION

Princeville Princeville Kapaa Kapaa Lihue Sw. Station Lihue Sw. Station Lawai Port Allen Port Allen Port Allen Port Allen Kaumakani Port Allen Koloa Switchyard Koloa Switchyard Mana Kekaha Switchyard Kekaha Switchyard Port Allen Wainiha KPS Kapaia Puhi Puhi Lydgate Lydqate Kamanu

TOTAL

TRANSFORMERS

Voltages 69.0/12.47 69.0/12.47 69.0/12.47 69.0/12.47 69.0/12.47 69.0/13.2

69.0/57.1/12.47 66.0/12.47

4.16/57.1/69.0 13.8/57.1/69.0 13.8/57.1/69.0

69.0x57.1/12.47 13.8/69.0

69.0/57.1/12.47 69.0/12.47

69.0/57.1/12.47 57.1/12.47

69.0x57.1/12.47 69.0/57.1/12.47

69.0/12.47 69.0/13.8 69.0/12.47 12.47/4.16 12.47/4.16 69.0/12.47 69.0/12.47 69.0/12.47

x x x x x x x x x x

No. of Transformers

2

2

29

Rating 10,000 10,000 10,000 10,000 10,000 7,500 7,500

10,000 10,000 20,000 20,000 3,750

15,000 7,500 7,500 7,500 5,000 7.500 7,500 1,500

21,000 10,000

750 500

10,000 10,000 10,000

<xxxx>

Substation Ratings

10,000 10,000 10,000 10,000 20,000 7,500 7,500

10,000 10,000 20,000 20,000 3,750

30,000 7,500 7,500 7,500 5,000 7,500 7,500 1,500

21,000 10,000

750 500

10,000 10,000 10,000

275,000

Distribution Substations

LOCATION

Port Allen Plant Puhi Puhi Molokoa Wainiha Waiahi (Lower) Waiahi (Upper)

TOTAL

TRANSFORMERS

Voltages

4.16/12.47 12.47/4.16 12.47/4.16 12.47/4.16 12.47/2.4 12.47/2.4 12.47/2.4

x x x x x x x x x x

No. of Transformers

1 1 1 2 1 1 1

8

Rating

5,000 500 500 300

1,500 1,500

750

<xxxx>

Substation Ratings

5,000 500 500 600

1,500 1,500

750 -

10,350

Page 38

Page 43: Kaua' i Island ^^'' ^- Utility Cooperative ZGM HAR 23 A IO 32puc.hawaii.gov/wp-content/uploads/2014/06/KIUC-AFR-2010.pdf4463 Pake 'e Street, Suite I • Lihue. Kaua V. HI 96766-2000

Kauai Island Utility Cooperative-YE 12/31/10

Schedule E CONTINGENT ASSETS AND LIABILITIES

Commitments: NONE

Page 39

Page 44: Kaua' i Island ^^'' ^- Utility Cooperative ZGM HAR 23 A IO 32puc.hawaii.gov/wp-content/uploads/2014/06/KIUC-AFR-2010.pdf4463 Pake 'e Street, Suite I • Lihue. Kaua V. HI 96766-2000

Kauai Island Utility Cooperative- YE 12/31/10

VERIFICATION

I swear (or declare) that the foregoing report has been prepared under my direction, from the original books, records and documents of the respondent corporation; that I have carefully examined the foregoing report; that I believe to the best of my knowledge and information, all statements of fact and all accounts and figures contained in the foregoing report are true; that the said report is a correct and complete statement of the business, affairs and all operations of the respondent corporation during the period for which said report

has been prepared.

Uh City or Town Jignatur^ of Officer

Date Title of Officer

Subscribed and sworn to before me this /(^'^ dav of Mar&h -.20. / /

S'pAlrx

OMN

' "» i7 i i i»«*

kmffJhwf ^ K.tMKjiOl^Ji^aiLJlf-'VmJiQ.—

Notary Public

& ^ Judicial Circuit State of Hawaii

My Commission Expires US Q s / 0 0 ( \

tkun^iMtitimm

Page 40

Page 45: Kaua' i Island ^^'' ^- Utility Cooperative ZGM HAR 23 A IO 32puc.hawaii.gov/wp-content/uploads/2014/06/KIUC-AFR-2010.pdf4463 Pake 'e Street, Suite I • Lihue. Kaua V. HI 96766-2000

Kauai island Utility Cooperative-YE 12/31/10

KAUAI ISLAND UTILITY COOPERATIVE INCOME STATEMENT

2006-2010 2010 2009 2008 2007 2006

KWH SALES

REVENUE ENERGY SALES FUEL OIL CLAUSE TOTAL (2+3) OTHER UTILITY REVENUE TOTAL OPERATING REVENUE (4+5)

OPERATING EXPENSES FUEL OTHER PRODUCTION DISTRIBUTION CUSTOMER SALES ADMINISTRATIVE & GENERAL TOTAL OPERATION (8 TO 12)

MAINTENANCE EXPENSES PRODUCTION DISTRIBUTION GENERAL TOTAL MAINTENANCE (14 TO 16) TOTAL OPERATION & MAINTENANCE (13+17)

TOTAL OPERATING EXPENSES (7+18)

DEPRECIATION & AMORTIZATION TAXES OTHER THAN INCOME INCOME TAXES INCOME TAXES DEFERRED TOTAL OPERATING EXPENSES (19 TO 23)

OPERATING MARGINS (6-24)

434,533,319 436.273,236 453,790,517 466,895,789 452,079,711

$ 123,476,659 $ 85,915,304 $ 80,238,612 $ 92,697,892 $ 81.651,629 31,618,442 43,584,744 109,212.444 70,185,972 64,232,415

155.095,101 158,942

129,500,048 161,387

189,451.056 174.072

162,883,864 163,931

145,884,044 165,625

$ 155,254,043 $ 129,661,435 $ 189,625,128 $ 163,047,795 $ 146.049,669

$ 68,899,697 $ 51,952,273 $ 98,149,044 $ 76,293,608 $ 63,747,649 10,743.024 9.890,828 12,357,170 9,824,561 10,715,573

1,720,822 1.696,116 1,687,118 2,058,325 2,018,867 3,218,484 3.196,079 3,320,211 3,426,949 2,912,174

13,750,175 10,874,967 11,799,584 10,843,332 10.443,046 $ 29.432,505 $ 25,657,990 $ 29,164,083 $ 26,153,167 S 26,089,660

7,169.914 $ 3,207,392

401.828

6,750.525 $ 2,979.228

392,766

8,017,022 $ 2,902,114

387,211

6,918,520 $ 7,188,519 2,700,592 2,405,954

457.576 331,461 $ 10,779,134 $ 10.122.519 $ 11,306,347 $ 10,076.688 $ 9.925,934 $ 40,211,639 $ 35,780,509 $ 40,470,430 $ 36,229,855 $ 36,015,594

$ 109.111,336 $ 87,732,782 $ 138,619.474 $ 112,523,463 $ 99,763,243

14,595,414 13,047,862

16,736.333 10,938.606

16,450,486 16,026,840

16,207,749 13,763.799

15,898,030 12.370,372

$ 136,754.612 $ 115,407,721 $ 171,096,800 $ 142,495,011 $ 128,031,645

$ 18,499,431 $ 14,253.714 $ 18.528,328 $ 20,552,784 $ 18.018.024

MISCELLANEOUS INCOME-NET MISCELLANEOUS INCOME DEDUCTIONS TOTAL UTILITY INCOME (25+26-27)

INTEREST EXPENSE INTEREST DURING CONSTRUCTION AMORT. DEBT PREMIUM & EXPENSES BOND INTEREST SHORT TERM INTEREST LONG TERM INTEREST OTHER INTEREST EXPENSE TOTAL (29 TO 34)

$

$

$

763,172 81,283

19,181,320

----

9,061,322 163,876

9,225,198

$

$

$

981,222 77,163

15,157,773

----

9,502,337 81,679

9,584,016

$

$

$

1,127.217 96.523

19,559.022

----

9,940,742 64,683

10,005,425

$

$

$

1,672,441 132,330

22,092,895

----

10,167,301 59,563

10,226,864

$

$

$

1,684,240 118,693

19.583,571

----

10,417,267 48,444

10,465,711

NET MARGINS (28-35) CAPITAL CREDITS & PATRONAGE DIVIDENDS AVAILABLE FOR COMMON (36-37)

NET MARGINS (38-39)

$ 9,956,122 S 5,573,757 $ 9,553,597 $ 11,866,031 $ 9,117,860

9,956,122 5,573,757 9,553,597 11,866.031 9,117,860

$ 9,956.122 $ 5.573.757 $ 9,553,597 $ 11,866.031 $ 9,117.860

l o t s

2010 KEPUC5yrstat-attachment.xls

Page 46: Kaua' i Island ^^'' ^- Utility Cooperative ZGM HAR 23 A IO 32puc.hawaii.gov/wp-content/uploads/2014/06/KIUC-AFR-2010.pdf4463 Pake 'e Street, Suite I • Lihue. Kaua V. HI 96766-2000

KAUAI ISLAND UTILITY COOPERATIVE BALANCE SHEET

2006-2010

Kauai Island Utility Cooperative-YE 12/31/10

ASSETS & OTHER D F B I T S

UTILITY PLANT UTILITY PLANT IN SERVICE UTILITY PLANT IN SERVICE PUC ADJ. CONSTRUCTION WORK IN PROGRESS DEPRECIATION

TOTAL UTILITY PLANT

CURRENT & ACCRUED ASSETS CASH IN BANK & TEMPORARY INVESTMENTS ACCOUNTS RECEIVABLE ACCUM. PROV. FOR UNCOLLECTIBLE ACCT INVENTORY PREPAYMENTS INTEREST RECEIVABLE ACCRUED REVENUES DEFERRED ENGINE OVERHAUL EXPENSE DEFERRED DEBITS - MISCELLANEOUS REGULATORY COMMISSION EXPENSES

TOTAL CURRENT & ACCRUED ASSETS

TOTAL ASSETS & OTHER DEBITS

2010 2009 2008 2007 2006

$ 450,876,105 $ 439,951,101 $ 424.072.179 $ 412,658.767 $ 403,799,109

11,789,712 13.463,888 14,632,361 14,020,468 6.922,914 221,234,482 211,674,481 198,671.933 186.628,077 173,156,879

$ 241,431,335 $ 241,740,509 $ 240,032,607 $ 240.051,158 $ 237,565,144

$ 7,342,947 $ 4,180,004 $ 27,001.141 $ 19,455,454 $ 23,911.750 10,405,847

(711,029) 14,217,398

954,729 9

8,167,434

1,840,665 4,494,625

12,025,374 (1,176,683) 13,320,441 1,196,222

7 7,275,331

922,634 4,966,896

10.740,183 (1,164,541) 13,156,810 1,109,534

31.359 7,270,482

384,906 4,035,674

12,829,097 (905.492)

12,164,292 1,122,048

68,012 9,181,212

408.605 4,833,855

10,612,421 (307.143)

10,047,261 997,312 137,382

6,956,525

1,462,479 5,105,408

$ 46,712,625

$ 288,143,960

$ 42,710,225

$ 284,450,734

$ 62,565,548

$ 302,598,155

$ 59,157,083

$ 299,208,241

$ 58,923,395

$ 296,488,538

LIABILITIES & OTHER CRgPITS

PATRONAGE CAPITAL & MEMBERSHIPS

LONG TERM DEBT FIRST MORTGAGE BOND LONG TERM NOTE

TOTAL LONG TERM DEBT

CURRENT & ACCRUED LIABILITIES CURRENT PORTION; NOTES PAYABLE/LTD NOTES PAYABLE ACCOUNTS PAYABLE METER DEPOSITS TAXES ACCRUED INTEREST ACCRUED TAX COLLECTION PAYABLE MISCELLANEOUS DEFERRED CREDITS

CUSTOMER ADVANCE FOR CONSTRUCTION CONTRIBUTION IN AID OF CONSTRUCTION

TOTAL CURRENT & ACCRUED LIABILITIES

TOTAL ACCUM DEFERRED INCOME TAXES

TOTAL LIABILITIES & OTHER CREDITS

$ 60,918,555 $ 52,268,377 $ 46.667,767 $ 41,323,894 $ 32,103,664

$ " $ - $ - $ - $ 188,520,589 192,820.610 207,450,282 216.394,675 221,984,068

$ 188,520.589 $ 192,820.610 $ 207.450,282 $ 216,394.675 $ 221,984.068

$ 9,261.000 $ 8,875.500 $ 8.487,400 $ 8.178,300 $ 7,944,800

-7,337,948 1,048,833 7,203,240

96,417

4,129,104 5,963,306 3,664,968

2,000,000 7,438,615 1,137,879 4,947,846

105,142

4,476,464 6,687,027 3,693,275

-5,665,381

883,951 10,454,884

75,846

9,849,020 10,347,440 2,716,184

-7,605,248

759,807 8,287.200

63,844

5,707,441 9,197,536 1,690,296

"

-7,810,637

854,607 6,692,436

56,121

8.394,654 9.290,893 1.356,658

$ 38,704,816 S 39,361.747 S 48,480,106 3 41,489,672 $ 42,400,806

$ 288.143.960 $ 284,450.734 $ 302.598.155 $ 299.208,241 $ 296,488,538

2 of 5

2010 KEPUCSyrstat-aaachmentxIst

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Kauai Island Utility Cooperative-YE 12/31/10

KAUAI ISLAND UTILITY COOPERATIVE MISCELLANEOUS DATA

2006-2010

KWH SALES

RESIDENTIAL COMMERCIAL LARGE POWER STREET LIGHTING IRRIGATION

TOTAL KWH SALES

2010

159,425.808 112,717,079 159,512,556

2.729,677 148,199

2009

161,946,254 113.163,543 157.051,579

2,702,271 1,409,589

2008

160.479,367 119,324,054 170,165,703

2,637,376 1,184,017

2007

165,177,370 124,911.826 172,698,978

2,643,480 1,464,135

2006

160,271,857 122,252,623 166.064,770

2,601,027 889,434

434,533,319 436,273.236 453,790,517 466,895.789 452.079,711

REVENUES

RESIDENTIAL COMMERCIAL LARGE POWER STREET LIGHTING IRRIGATION

TOTAL REVENUES

CUSTOMERS @ 12/31

RESIDENTIAL COMMERCIAL LARGE POWER STREET LIGHTING IRRIGATION

TOTAL CUSTOMERS

AVERAGE REVENUE PER KWH

RESIDENTIAL COMMERCIAL LARGE POWER STREET LIGHTING IRRIGATION

TOTAL

AVERAGE RATE-CENTS PER KWH SOLD

RESIDENTIAL COMMERCIAL LARGE POWER STREET LIGHTING IRRIGATION

TOTAL

$ 58,599.648 $ 48,759,893 $ 67.521,772 $ 58,823.117 $ 52,568,488 41,245,256 53,833,261 1.381,050

35,886

$ 155.095,101

27,834 4.540 124

3,561 3

36,062

$ 0.36757 0.36592 0.33749 0.50594 0.24215

$ 0.35692

S 36.757 36.592 33.749 50.594 24.215

$ 35.692

34,600,351 44.714,928 1,160,789 264,087

$ 129,500.048

$

$

$

$

27,755 4,564 134

3,548 3

36.004

0.30109 0.30576 0.28471 0.42956 0.18735

0.29683

30.109 30.576 28.471 42.956 18.735

29.683

S

$

$

$

$

50.856,616 69,199,753 1,457.504 415.411

189,451.056

27,435 4,649 127

3,499 3

35,713

0.42075 0.42621 0.40666 0.55263 0.35085

0.41749

42.075 42.621 40.666 55.263 35.085

41.749

44,902,237 57.527,125 1,286,933 344,452

$ 162,883,864

$

$

$

$

26,959 4.674 124

3,447 3

35,207

0.35612 0.35947 0.33311 0.48683 0.23526

0.34887

35.612 35.947 33.311 48.683 23,526

34.887

40,630,540 51,299,782 1,195,058 190,176

$ 145,884,044

$

$

$

$

26,495 4,612 124

3,437 3

34,671

0.32800 0.33235 0.30891 0.45946 0.21382

0.32270

32.800 33.235 30.891 45.946 21.382

32.270

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Kauai lslan(J Utility Cooperative-YE 12/31/10

KAUAI ISLAND UTILITY COOPERATIVE ADMINISTRATIVE & GENERAL EXPENSES

2006-2010

ADMINISTRATIVE & GENERAL SALARIES

OFFICE SUPPLIES & EXPENSES

ADMIN OFFICE MAINTENANCE EXPENSE

OUTSIDE SERVICES EMPLOYED

PROPERTY INSURANCE

INJURIES* DAMAGES

EMPLOYEE PENSIONS & BENEFITS

REGULATORY COMMISSION EXPENSE

MISCELLANEOUS GENERAL EXPENSE

RENTS

2010

5,062,861 $

1,178,277

401,828

2,256,744

567,522

2009

4,843,483 $

976,759

392,766

1,206.962

574.574

2008

4,644,644 $

1,035.501

387,211

2,020.500

491,451

2007

4.997,386 $

800,910

457,576

1,027,149

479,868

2006

5.503,389

517,104

331,461

340,305

471.858

2,414.081

868.178

1.402,512

1.011,629

833,680

1,427,880

1,399.977

900.929

1,306.582

1.248,736

1,026,171

1.263,112

1,009,465

1,364.556

1,236.369

TOTAL ADMINISTRATIVE & GENERAL EXPENSES $ 14.152,002 $ 11.267,733 $ 12,186.795 $ 11,300.908 $ 10,774,507

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KAUAI ISLAND UTILITY COOPERATIVE TAXES OTHER THAN INCOME TAXES

2006-2010

Kauai Island Utility Cooperative-YE 12/31/10

STATE TAXES

FRANCHISE UNEMPLOYMENT P.U.C. TAX CONSUMPTION AND USE TAX / PROPERTY

FEDERAL TAXES

FICA UNEMPLOYMENT

TOTAL TAXES OTHER THAN INCOME TAX

2010 2009 2008 2007 2006

$ 3,876,767 $ 3,238,355 $ 4,775,188 $ 4,069,827 $ 3,647.585

9,125,908 45,187

7.623,088 77,163

11.147,927 103,725

9,577.833 116,138

8,586,415 136.372

$ 13,047.862 $ 10,938.606 $ 16,026.840 $ 13,763,799 $ 12,370,372

KAUAI ISLAND UTILITY COOPERATIVE MISCELLANEOUS DATA

2006-2010

2010 2009 2008 2007 2006 NET KWH GENERATION

STEAM DIESEL/NAPHTHA HYDROS TOTAL NET GENERATION

NET PURCHASED POWER

LINE LOSSES - %

SYSTEM USE - %

SYSTEM PEAK LOAD - MW

ANNUAL SYSTEM LOAD FACTORS

10,388.466 406,728,948

8,227,307 425,344,721

27,413,670

3.67752

0.37024

76.54

0.6753

18.179,338 399.044,503

7.787,912 425.011,753

30,796,214

3.93550

0.37562

75.41

0.6900

21.090,192 416.728,705

8,386,490 446,205,387

29,099,649

4.19674

0.35123

74.27

0.7306

29,646,799 431,270.612

975,424 461,892,835

26,961,303

4.16093

0.35018

77.75

0.7178

22,550.317 414,129,475

4.800,582 441,480,374

34,329,425

4.67559

0.33596

76.78

0.7074

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