CFC’s Initial 2022 Key Ratio Trend Analysis Results Demonstrate Cooperatives’ Resiliency
16 Junho 2023 - 4:00PM
The National Rural Utilities Cooperative Finance Corporation (CFC)
has analyzed preliminary data for its 2022 Key Ratio Trend Analysis
(KRTA) report, an annual assessment of financial trends among
electric distribution cooperatives nationwide. The results show
electric cooperatives continue their growth across many metrics,
including consumers, sales and utility plant investment, and have
maintained strong financial metrics.
“The cooperative business model has enabled rural electric
distribution cooperatives to be resilient in the face of rising
power costs, supply chain disruptions and inflation while
maintaining their focus on improving the quality of life in the
communities they serve,” CFC Senior Vice President and Chief
Corporate Affairs Officer Brad Captain said.
Consumer growth nearly surpassed 1%, after exceeding 1% last
year for the first time in more than 10 years, with approximately
95% of cooperatives showing increases, including notable pockets of
greater than 2% consumer growth in Texas, Florida, Idaho and
Utah.
Investment in utility plant also sustained its five-year growth
trend, as demonstrated by an increase in the total utility plant
ratio, which grew by 8.16% in 2022 compared with 3.95% in 2021.
“Despite increasing costs, electric cooperatives continue to
make investments in plant and utility infrastructure to continue to
provide their consumers with affordable, reliable and sustainable
power into the future,” CFC Senior Vice President and Chief Banking
Officer Joel Allen said.
Inflationary pressures, especially rising power costs, are
affecting operating expenses. Power costs have increased more than
9% compared with 2021 and continue to be a distribution
cooperative’s single largest expense, representing more than 60% of
revenue.
In another positive sign, both accounts receivable over 60 days
and write-offs continue their pre-pandemic declines, falling to
historic lows. Accounts receivable fell to 0.08% of operating
revenue from 0.09% in 2021, and write-offs fell to 0.06% of
operating revenue from 0.07% in 2021.
Preliminary KRTA results are based on data submitted by 801
electric distribution cooperatives for the year ending Dec. 31,
2022. CFC calculates 145 financial and operational ratios for each
cooperative and provides a report showing the cooperative’s ratio
compared with U.S. median value. Median reporting minimizes the
effect of outliers and provides a clearer picture of cooperative
performance.
About CFCCreated and owned by America’s
electric cooperative network, the National Rural Utilities
Cooperative Finance Corporation (CFC)—a nonprofit finance
cooperative with $34 billion in assets—provides unparalleled
industry expertise, flexibility and responsiveness to serve the
needs of our member-owners. CFC is an equal opportunity provider.
Visit us online at www.nrucfc.coop.
About KRTACFC has published KRTA—an annual
report that tracks the median value of 145 financial and
operational ratios for participating electric distribution
cooperatives over the previous five years—since 1975. Based on
unaudited data reported by electric distribution cooperatives, KRTA
provides electric cooperative CEOs and directors/trustees with a
complete picture of their system’s financial performance.
Contact: Brad Captain, Corporate Relations Group,
800-424-2954
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