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HomeMy WebLinkAbout2011 RMLD Finacial ReportATTACHMENT 1 Dt: February 21, 2011 To: RMLB, Vincent F. Cameron, Jr., Jeanne Foti Fr: Bob Fournier AIP Sj: Financial Report January 31, 2011 The results for the first seven months ending January 31, 2011, for the fiscal year 2011 will be summarized in the following paragraphs. 1) Change in Net Assets or Net Income: (Page 3A) For the month of January, the net loss or the negative change in net assets was $125,230, reducing the year to date net income to $1,994,236. The year to date budgeted net income was $312,397, the difference being $1,681,839. Year to date fuel revenues exceeded fuel expenses by only $69,308. Year to date energy conservation revenues exceeded energy conservation expenses by $34,916. Year to date GAW soil remediation expenses totalled $1,240,767, bringing the total cost to date for this project to $2,337,199. 2) Revenues: (Page 111B) Year to date base revenues were over budget by $2,795,229 or 11.4 Actual base revenues were $27.3 million compared to the budgeted amount of $24.5 million. 3) Expenses: (Page 12A) '`Year to date purchased power base expense was $4,429 or .03% under budget. Actual purchased power base costs were $16.4 million compared to the budgeted amount of $16.4 million. '-Year to date operating and maintenance (O&M) expenses combined were over budget by $368,508 or 5.1%. Actual O&M expenses were $7.6 million compared to the budgeted amount of $7.2 million. The major expenses that were over budget were maintenance of line transformers ($632,251) and employee benefits ($267,282). *Depreciation expense and voluntary payments to the Towns were on budget. 4) Cash: (Page 9) *Operating Fund balance was at $6,854,766. "Capital Funds balance was at $4,740,173. *Rate Stabilization Fund balance was at $5,381,131. "Deferred Fuel Fund balance was at $2,395,420. *Energy Conservation balance was at $343,798. 5) General Information: Year to date kwh sales (Page 5) were 4.77%, or 19.8 million kwh ahead of last year's figure. GAW revenues to date are $294,545. 6) Budget Variance: Cumulatively, the five divisions were over budget by $337,308 or 2.98 TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DE PARTMENT BUSINESS-TYPE PROPRI ETARY FUND STATEMENT OF NET ASSETS 1/31/11 PREVIOUS YEAR CURRENT YEAR ASSETS CURRENT UNRESTRICTED CASH (SCH A P.9) 2,630,816.52 6,257,766.85 RESTRICTED CASH (SCH A P.9) 13,799,597.88 15,656,711.79 RESTRICTED INVESTMENTS (SCH A P.9) 4,400,000.00 2,200,000.00 RECEIVABLES, NET (SCH B P.10) 10,452,838.93 8,439,835.61 PREPAID EXPENSES (SCH B P.10) 2,306,987.60 2,206,076.79 INVENTORY 1,457,332.46 1,723,347.67 TOTAL CURRENT ASSETS 35,047,573.39 37,083,738.71 NONCURRENT INVESTMENT IN ASSOCIATED CO (SCH C P.2) 108,967.43 88,151.26 CAPITAL ASSETS, NET (SCH C P.2) 65,695,240.27 67,447,387.61 TOTAL NONCURRENT ASSETS 65,804,207.70 67,535,538.87 TOTAL ASSETS 100,851,781.09 104,619,277.58 LIABILITIES CURRENT ACCOUNTS PAYABLE 5,990,270.11 6,848,434.98 CUSTOMER DEPOSITS 481,462.86 515,693.20 CUSTOMER ADVANCES FOR CONSTRUCTION 590,040.02 330,793.90 ACCRUED LIABILITIES 1,091,273.15 1,090,221.95 TOTAL CURRENT LIABILITIES 8,153,046.14 8,785,144.03 NONCURRENT ACCRUED EMPLOYEE COMPENSATED ABSENCES 2,873,114.33 3,020,032.75 TOTAL NONCURRENT LIABILITIES 2,873,114.33 3,020,032.75 TOTAL LIABILITIES 11,026,160.47 11,805,176.78 NET ASSETS INVESTED IN CAPITAL ASSETS, NET OF RELATED DEBT 65,695,240.27 67,447,387.61 RESTRICTED FOR DEPRECIATION FUND (P.9) 5,404,260.58 4,740,173.37 UNRESTRICTED 18,726,119.77 20,626,539.82 TOTAL NET ASSETS (P.3) 89,825,620.62 92,814,100.80 TOTAL LIABILITIES AND NET ASSETS 100,851,781.09 104,619,277.58 (1) TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT NONCURRENT ASSET SCHEDULE 1/31/11 SCHEDULE C PREVIOUS YEAR CURRENT YEAR SCHEDULE OF INVESTMENTS IN ASSOCIATED COMPANIES NEW ENGLAND HYDRO ELECTRIC 41,937.50 23,538.60 NEW ENGLAND HYDRO TRANSMISSION 67,029.93 64,612.66 TOTAL INVESTMENTS IN ASSOCIATED COMPANIES 108,967.43 88,151.26 SCHEDULE OF CAPITAL ASSETS LAND 1,265,842.23 1,265,842.23 STRUCTURES AND IMPROVEMENTS 6,997,417.80 6,753,629.88 EQUIPMENT AND FURNISHINGS 12,918,491.90 13,167,134.79 INFRASTRUCTURE 44,513,488.34 46,260,780.71 TOTAL UTILITY PLANT 65,695,240.27 67,447,387.61 TOTAL NONCURRENT ASSETS 65,804, 2 07.70 67,535,538.87 (2) TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT BUSINESS-TYPE PROPRIETARY FUND STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET ASSETS 1/31/11 MONTH MONTH LAST YEAR CURRENT YEAR YTD % LAST YEAR CURRENT YEAR TO DATE TO DATE CHANGE OPERATING REVENUES: (SCH D P.11) BASE REVENUE 3,768,018.93 4,034,763.61 23,550,408.88 27,324,920.54 16.03% FUEL REVENUE 4,473,198.05 3,629,698.16 26,750,838.89 25,147,934.40 -5.99% PURCHASED POWER CAPACITY 229,866.39 32,606.08 2,273,788.28 1,156,560.83 -49.14% FORFEITED DISCOUNTS 82,694.51 94,513.95 509,834.81 613,667.00 20.37% ENERGY CONSERVATION REVENUE 53,295.39 30,297.72 332,632.54 311,149.11 -6.46% GAW REVENUE 0.00 61,534.17 0.00 294,545.11 100.00% PASNY CREDIT (22,862.60) (59,937.36) (233,098.40) (427,390.42) 83.36% TOTAL OPERATING REVENUES 8,584,210.67 7,823,476.33 53,184,415.00 54,421,386.57 2.33% OPERATING EXPENSES: (SCH E P.12) PURCHASED POWER BASE 2,387,788.41 2,243,845.82 16,448,359.66 16,388,717.23 -0.36% PURCHASED POWER FUEL 3,704,455.85 3,620,814.67 24,961,985.54 24,651,235.51 -1.24% OPERATING 956,606.10 862,010.77 4,967,804.54 4,950,034.69 -0.36% MAINTENANCE 637,668.83 655,595.29 1,713,415.47 2,639,911.02 54.07% DEPRECIATION 280,105.78 287,729.05 1,960,740.46 2,014,103.35 2.72% VOLUNTARY PAYMENTS TO TOWNS 104,500.00 105,885.00 731,246.00 765,885.00 4.74% TOTAL OPERATING EXPENSES 8,071,124.98 7,775,880.60 50,783,551.67 51,409,886.80 1.23% OPERATING INCOME 513,085.69 47,595.73 2,400,863.33 3,011,499.77 25.43% Nf RATING REVENUES (EXPENSES) CONTRIBUTIONS IN AID OF CONST 10,884.28 35.00 421,240.71 34,887.42 -91.72% RETURN ON INVESTMENT TO READING (182,222.50) (180,990.00) (1,275,557.50) (1,266,930.00) -0.68% INTEREST INCOME 49,442.65 6,749.10 136,018.58 67,066.73 -50.69% INTEREST EXPENSE (1,254.74) (1,000.34) (14,545.58) (9,294.00) -36.10% OTHER (MDSE AND AMORT) 8,526.72 2,380.00 117,884.96 157,006.27 33.19% TOTAL NONOPERATING REV (EXP) (114,623.59) (172,826.24) (614,958.83) (1,017,263.58) 65.42% CHANGE IN NET ASSETS 398,462.10 (125,230.51) 1,785,904.50 1,994,236.19 11.67% NET ASSETS AT BEGINNING OF YEAR 88,039,716.12 90,819,864.61 3.16% NET ASSETS AT END OF JANUARY 89,825,620.62 92,814,100.80 3.33% (3) TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT BUSINESS-TYPE PROPRIETARY FUND STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET ASSETS 1/31/11 ACTUAL BUDGET YEAR TO DATE YEAR TO DATE VARIANCE* % CHANGE OPERATING REVENUES: (SCH F P.11B) BASE REVENUE FUEL REVENUE PURCHASED POWER CAPACITY FORFEITED DISCOUNTS ENERGY CONSERVATION REVENUE GAW REVENUE PASNY CREDIT 27,324,920.54 24,529,691.00 2,795,229.54 25,147,934.40 24,462,178.00 685,756.40 1,156,560.83 3,268,779.00 (2,112,218.17) 613,667.00 539,653.00 74,014.00 311,149.11 323,777.00 (12,627.89) 294,545.11 150,000..00 144,545.11 (427,390.42) (350,000.00) (77,390.42) 11.40% 2.80% -64.62% 13.72% -3.90% 96.36% 22.11% TOTAL OPERATING REVENUES OPERATING EXPENSES: (SCH G P.12A) PURCHASED POWER BASE PURCHASED POWER FUEL OPERATING MAINTENANCE DEPRECIATION VOLUNTARY PAYMENTS TO TOWNS TOTAL OPERATING EXPENSES OPERATING INCOME NONOPERATING REVENUES (EXPENSES) CONTRIBUTIONS IN AID OF CONST RETURN ON INVESTMENT TO READING INTEREST INCOME INTEREST EXPENSE OTHER (MDSE AND AMORT) TOTAL NONOPERATING REV (EXP) CHANGE,IN NET ASSETS NET ASSETS AT BEGINNING OF YEAR NET ASSETS AT END OF JANUARY * ( ) = ACTUAL UNDER BUDGET 54,421,386.57 52,924,078.00 1,497,308.57 2.83% 16,388,717.23 16,393,147.00 (4,429.77) -0.03% 24,651,235.51 25,542,178.00 (890,942.49) -3.49% 4,950,034.69 5,147,543.00 (197,508.31) -3.849o 2,639,911.02 .2,073,894.00 566,017.02 27.299. 2,014,103.35 2,041,669.00 (27,565.65) -1.35% 765,885.00 770,000.00 (4,115.00) -0.53% 51,409,886.80 51,968,431.00 (558,544.20) -1.07% 3,011,499.77 955,647.00 2,055,852.77 215.13% 34,887.42 300,000.00 (265,112.58) -88.379. (1,266,930.00) (1,268,750.00) 1,820.00 -0.14% 67,066.73 262,500.00 (195,433.27) -74.45% (9,294.00) (7,000.00) (2,294.00) 32.77% 157,006.27 70,000.00 87,006.27 124.29% (1,017,263.58) (643,250.00) (374,013.58) 58.14% 1,994,236.19 312,397.00 1,681,839.19 90,819,864.61 88,039,716.12 2,780,148.49 92,814,100.80 88,352,113.12 4,461,987.68 538.37% 3.16% 5.05% (3A) TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT RECONCILIATION OF CAPITAL FUNDS 1/31/11 SOURCE OF CAPITAL FUNDS: DEPRECIATION FUND BALANCE 7/1/10 CONSTRUCTION FUND BALANCE 7/1/10 INTEREST ON DEPRECIATION FUND FY 11 DEPRECIATION TRANSFER FY 11 FORCED ACCOUNTS REIMBURSEMENT GAW SUBSTATION FY 11 TOTAL SOURCE OF CAPITAL FUNDS USE OF CAPITAL FUNDS: PAID ADDITIONS TO PLANT THRU JANUARY PAID ADDITIONS TO GAW THRU JANUARY TOTAL USE OF CAPITAL FUNDS GENERAL LEDGER CAPITAL FUNDS BALANCE 1/31/11 2,085,162.41 494,829.00 4,801,693.77 0.00 9,538.66 2,014,103.35 0.00 494,829.00 7,320,164.78 PAID ADDITIONS TO GAW FROM FY 11 PAID ADDITIONS TO GAW FROM FY 10 PAID ADDITIONS TO GAW FROM FY 09 PAID ADDITIONS TO GAW FROM FY 08 TOTAL 2,579,991.41 4,7401173.37 494,829.00 1,372,876.00 3,136,764.00 1,895,975.00 6,900,444.00 (4) TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT SALES OF KILOWATT HOURS 1/31/11 MONTH MONTH LAST YEAR CURRENT YEAR YTD SALES OF ELECTRICITY: LAST YEAR CURRENT YEAR TO DATE TO DATE CHANGE RESIDENTIAL SALES 25,977,843 23,596,837 151,713,178 163,587,538 7.83% COMM. AND INDUSTRIAL SALES 37,983,262 34,924,989 244,542,847 252,473,262 3.24% PRIVATE STREET LIGHTING 71,334 73,252 497,083 502,929 1.18% TAL PRIVATE CONSUMERS 439 64 032 58,595,078 396,753,108 416,563,729 4.99% TO , , MUNICIPAL SALES: STREET LIGHTING 237,395 239,009 1,660,767 1,671,587 0.65% MUNICIPAL BUILDINGS 1,072,646 964,827 5,896,278 5,835,481 -1.03% TOTAL MUNICIPAL CONSUMERS 1,310,041 1,203,836 7,557,045 7,507,068 -0.66% SALES FOR RESALE 337,262 312,294 1,971,753 2,124,784 7.76% SCHOOL 1,588,384 1,409,774 8,360,231 8,235,900 -1.49% TOTAL KILOWATT HOURS SOLD 67,268,126 61,520,982 414,642,137 434,431,481 4.77% (5) TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT KILOWATT HOURS SOLD BY TOWN 1/31/11 TOTAL READING LYNNFIELD NO.READING WILMINGTON MONTH RESIDENTIAL 23,596,837 7,630,334 3,042,977 5,719,827 7,203,699 COMM & IND 34,924,989 4,597,466 278,305 5,282,384 24,766,834 PVT ST LIGHTS 73,252 14,039 1,360 21,936 35,917 PUB ST LIGHTS 239,009 80,436 32,437 39,837 86,299 MUNI BLDGS 964,827 303,886 150,167 162,564 348,210 SALES/RESALE 312,294 312,294 0 0 0 SCHOOL 1,409,774 499,858 281,803 175,160 452,953 TOTAL 61,520,982 13,438,313 3,787,049 11,401,708 32,893,912 YEAR TO DATE RESIDENTIAL 163,587,538 51,137,761 23,366,372 38,108,144 50,975,261 COMM & IND 252,473,262 31,146,526 2,018,005 38,129,078 181,179,653 PVT ST LIGHTS 502,929 97,889 9,520 148,922 246,598 PUB ST LIGHTS 1,671,587 563,052 227,211 277,819 603,505 MUNI BLDGS 5,835,481 1,502,035 1,012,702 1,206,439 2,114,305 SALES/RESALE 2,124,784 2,124,784 0 0 0 SCHOOL 8,235,900 2,928,145 1,748,130 1,073,360 2,486,265 TOTAL 434,431,481 89,500,192 28,381,940 78,943,762 237,605,587 LAST YEAR TO DATE RESIDENTIAL 151,713,178 47,100,112 21,861,051 34,944,318 47,807,697 COMM & IND 244,542,847 30,248,136 1,981,391 38,475,375 173,837,945 PVT ST LIGHTS 497,083 98,033 9,520 146,262 243,268 PUB ST LIGHTS 1,660,767 550,457 229,957 277,904 602,449 MUNI BLDGS 5,896,278 1,516,454 992,513 1,151,934 2,235,377 SALES/RESALE 1,971,753 1,971,753 0 0 0 SCHOOL 8,360,231 3,090,079 1,705,988 1,049,680 2,514,484 TOTAL 414,642,137 84,575,024 26,780,420 76,045,473 227,241,220 KILOWATT HOUR S SOLD TO TOTAL TOTAL READING LYNNFIELD NO.READING WILMINGTON MONTH RESIDENTIAL 38.36% 12.40% 4.95% 9.30% 11.71% COMM & IND 56.77% 7.47% 0.45% 8.59% 40.26% PVT ST LIGHTS 0.12% 0.02% 0.00% 0.04% 0.06% PUB ST LIGHTS 0.38% 0.13% 0.05% 0.06% 0.14% MUNI BLDGS 1.57% 0.49% 0.24% 0.26% 0.58% SALES/RESALE 0.51% 0.51% 0.00% 0.00% 0.00% SCHOOL 2.29% 0.81% 0.46% 0.28% 0.74% TOTAL 100.00% 21.83% 6.15% 18.53% 53.49% YEAR TO DATE RESIDENTIAL 37.65% 11.77% 5.38% 8.77% 11.73% COMM & IND 58.12% 7.17% 0.46% 8.78% 41.71% PVT ST LIGHTS 0.12% 0.02% 0.0096 0.03% 0.07% PUB ST LIGHTS 0.38% 0.13% 0.05% 0.06% 0.1496 NMI BLDGS 1.34% 0.35% 0.23% 0.28% 0.48% SALES/RESALE 0.49% 0.49% 0.00% 0.00% 0.00% SCHOOL 1.90% 0.67% 0.40% 0.25% 0.58% TOTAL 100.00% 20.609. 6.525. 18.17% 54.7196 LAST YEAR TO DATE RESIDENTIAL 36.59% 11.36% 5.27% 8.43% 11.53%. COMM & IND 58.97% 7.29% 0.48% 9.285. 41.92% PVT ST LIGHTS 0.12% 0.02% 0.00% 0.04% 0.06% PUB ST LIGHTS 0.40% 0.13% 0.06% 0.07% 0.14% MUNI BLDGS 1.42% 0.37% 0.24% 0.28% 0.5396 SALES/RESALE 0.48% 0.48% 0.00% 0.00% 0.00% SCHOOL 2.02% 0.75% 0.41% 0.25% 0.61% TOTAL 100.00% 20.40% 6.46% 18.35% 54.799, (6) TOWN OF READING, MASSACHUSETTS - MUNICIPAL LIGHT DEPARTMENT GENERAL STATISTICS 1/31/11 MONTH OF MONTH OF % CHANGE YEAR THRU JAN 2010 JAN 2011 2010 2011 JAN 2010 JAN 2011 SALE OF KWH (P.5) 67,268,126 61,520,982 -3.67% 4.77% 414,642,137 434,431,481 KWH PURCHASED 61,393,989 62,562,960 -5.72% 5.15% 424,524,353 446,397,850 AVE BASE COST PER KWH 0.038893 0.035865 17.18% -5.24% 0.038745 0.036713 AVE BASE SALE PER KWH 0:056015 0.065584 4.86% 10.74% 0.056797 0.062898 AVE COST PER KWH 0.099232 0.093740 -15.87% -5.75% 0.097545 0.091936 AVE SALE PER KWH 0.122513 0.124583 -15.01% -0.43% 0.121312 0.120785 FUEL CHARGE REVENUE (P.3) 4,473,198.05 3,629,698.16 -28.14% -5.99% 26,750,838.89 25,147,934.40 LOAD FACTOR 78.70% 76.40% PEAK LOAD 106,870 112,174 (8) n n` W~ O U) / (1) U /0 (3) s- (3 Y (3) VJ W W L L Ndr oL 030 OL nON M 100 OL d3S o L one oL nnr o L N n r 0 L l.dw OL ade oL deW 01 93d OL Ner 60 034 60 nON 60 100 60 d3S 60 one 6o -inr 60 Nnr a 60 AM 60 bde 60 beW 6093-4 60 Ner 80 034 0 N 8 nO 80100 80 d3S so one 8o inr I 80 Nnr so AviN 80 Ude so aew 80 93d 90 Ner LO O L, 7 O L O O L O O C ) C O P.- - L O It t N -r - r ~ - O O O O O O O O O O O O O O ka 6 a (2 a ~ a t a 6 3- 6 9> 6 ' TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT SCHEDULE OF CASH AND INVESTMENTS 1/31/11 SCHEDULE A UNRESTRICTED CASH PREVIOUS YEAR CURRENT YEAR CASH - OPERATING FUND 2,627,816.52 6,854,766.85 CASH - PETTY CASH 3,000.00 3,000.00 TOTAL UNRESTRICTED CASH 2,630,816.52 6,857,766.85 RESTRICTED CASH CASH - DEPRECIATION FUND 5,404,260.58 4,740,173.37 CASH - TOWN PAYMENT 286,725.00 291,250.00 CASH - DEFERRED FUEL RESERVE 3,295,159.20 2,395,420.56 CASH - RATE STABILIZATION FUND 2,400,105.06 4,381,131.86 CASH - UNCOLLECTIBLE ACCTS RESERVE 28,988.15 200,000.00 CASH - SICK LEAVE BENEFITS 1,404,167.67 2,024,793.05 CASH - INSURANCE RESERVE 35,251.72 0.00 CASH - HAZARD WASTE RESERVE 150,000.00 150,000.00 CASH - CUSTOMER DEPOSITS 481,462.86 515,693.20 CASH - ENERGY CONSERVATION 313,477.64 343,798.77 CASH - OPEB 0.00 614,450.98 TOTAL RESTRICTED CASH 13,799,597.88 15,656,711.79 RESTRICTED INVESTMENTS RATE STABILIZATION * 2,900,000.00 1,000,000.00 SICK LEAVE BENEFITS 1,500,000.00 1,000,000.00 OPEB 0.00 200,000.00 TOTAL RESTRICTED INVESTMENTS 4,400,000.00 2,200,000.00 TOTAL CASH BALANCE 20,830,414.40 24,714,478.64 JAN 2010 * FED HOME LOAN MTG CORP * FED HOME LOAN MTG CORP FED HOME LOAN MTG CORP FED HOME LOAN MTG CORP FED NATIONAL MORT ASSN JAN 2011 * FREDDIE MAC FREDDIE MAC FREDDIE MAC 1,400,000.00; 1,500,000.00; 500,000.00; 500,000.00; 500,000.00; 1,000,000.00; 1,000,000.00; 200,000.00; DTD 07/02/09; INT 3.25%; MATURITY 07/15/14 DTD 01/23/09; INT 2.00%; MATURITY 01/15/13 DTD 01/23/09; INT 2.00%; MATURITY 01/15/13 DTD 06/01/09; INT 3.70%; MATURITY 06/11/16 DTD 05/07/09; INT 3.00%; MATURITY 05/15/15 DTD 09/10/10; INT 2.00%; MATURITY 09/15/20 DTD 09/10/10; INT 2.00%; MATURITY 09/15/20 DTD 09/10/10; INT 2.00%; MATURITY 09/15/20 (9) TOWN OF READING, MASSACHUSETTS MUNICI PAL LIGHT DEPARTMENT SCHEDULE OF ACCOUNTS RECEIVABLE 1/31/11 SCHEDULE B PREVIOUS YEAR CURRENT YEAR SCHEDULE OF ACCOUNTS RECEIVABLE RESIDENTIAL AND COMMERCIAL 6,338,811.41 4,805,309.83 ACCOUNTS RECEIVABLE - OTHER 325,503.55 138,744.20 ACCOUNTS RECEIVABLE - LIENS 176,298.73 105,586.12 ACCOUNTS RECEIVABLE - EMPLOYEE ADVANCES 1,067.16 1,067.16 SALES DISCOUNT LIABILITY (349,471.06) (357,716.40) RESERVE FOR UNCOLLECTIBLE ACCOUNTS (212,315.44) (308,314.41) TOTAL ACCOUNTS RECEIVABLE BILLED 6,279,894.35 4,384,676.50 UNBILLED ACCOUNTS RECEIVABLE 4,172,944.58 4,055,159.11 TOTAL ACCOUNTS RECEIVABLE, NET 10,452,838.93 8,439,835.61 SCHEDULE OF PREPAYMENTS PREPAID INSURANCE 1,363,827.34 1,412,723.82 PREPAYMENT PURCHASED POWER 479,031.58 379,285.27 PREPAYMENT PASNY 286,833.66 239,666.63 PREPAYMENT WATSON 162,771.32 159,877.37 PURCHASED POWER WORKING CAPITAL 14,523.70 14,523.70 TOTAL PREPAYMENT 2,306,987.60 2,206,076.79 ACCOUNTS RECEIVABLE AGING DECEMBER 2010: RESIDENTIAL AND COMMERCIAL LESS: SALES DISCOUNT LIABILITY GENERAL LEDGER BALANCE CURRENT 30 DAYS 60 DAYS 90 DAYS OVER 90 DAYS TOTAL 4,805,309.83 (357,716.40) 4,447,593.43 3,611,288.83 443,700.83 168,514.24 108,349.66 115,739.87 4,447,593.43 81.20% 9.98% 3.79% 2.44% 2.59% 100.00% (10) TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT SCHEDULE OF OPERATING REVENUE 1/31/11 SCHEDULE D MONTH MONTH LAST YEAR CURRENT YEAR YTD 96 SALES OF ELECTRICITY: LAST YEAR CURRENT YEAR TO DATE TO DATE CHANGE RESIDENTIAL SALES 3,499,745.39 3,230,381.85 20,200,320.24 21,591,805.90 6.89% COMM AND INDUSTRIAL SALES 4,317,637.70 4,049,740.57 27,687,355.05 28,501,661.35 2.94% PRIVATE STREET LIGHTING 10,724.02 10,981.54 73,324.07 73,839.51 0.705. TOTAL PRIVATE CONSUMERS 7,828,107.11 7,291,103.96 47,960,999.36 50,167,306.76 4.60% MUNICIPAL SALES: STREET LIGHTING 47,076.95 47,157.01 325,358.00 324,965.18 -0.12% MUNICIPAL BUILDINGS 129,913.36 119,103.91 719,525.76 716,441.00 -0.43% TOTAL MUNICIPAL CONSUMERS 176,990.31 166,260.92 1,044,883.76 1,041,406.18 -0.33% SALES FOR RESALE 43,435.75 39,967.63 250,010.33 262,906.76 5.16% SCHOOL 192,683.81 167,129.26 1,045,354.32 1,001,235.24 -4.22% SUB-TOTAL 8,241,216.98 7,664,461.77 50,301,247.77 52,472,854.94 0.05 e-....2EITED DISCOUNTS 82,694.51 94,513.95 509,834.81 613,667.00 20.37% PURCHASED POWER CAPACITY 229,866.39 32,606.08 2,273,788.28 1,156,560.83 -49.14% ENERGY CONSERVATION - RESIDENTIAL 12,994.74 11,803.45 75,896.70 81,833.64 7.82% ENERGY CONSERVATION - COMMERCIAL 40,300.65 18,494.27 256,735.84 229,315.47 -10.68% GAW REVENUE 0.00 61,534.17 0.00 294,545.11 100.00% PASNY CREDIT (22,862.60) (59,937.36) (233,088.40) (427,390.42) 83.36% TOTAL REVENUE 8,584,210.67 7,823,476.33 53,184,415.00 54,421,386.57 2.33% (11) TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT SCHEDULE OF OPERATING REVENUE BY TOWN 1/31/11 TOTAL READING LYNNFIELD NO.READING WILMINGTON MONTH RESIDENTIAL 3,230,381.85 1,046,502.62 415,706.65 781,787.80 986,384.78 INDUS/MUNI BLDG 4,168,844.48 595,423.69 53,449.42 649,616.47 2,870,354.90 PUB.ST.LIGHTS 47,157.01 16,471.08 5,747.81 7,798.79 17,139.33 PRV.ST.LIGHTS 10,981.54 2,048.51 202.57 3,449.41 5,281.05 CO-OP RESALE 39,967.63 39,967.63 0.00 0.00 0.00 SCHOOL 167,129.26 59,399.58 33,152.89 21,392.09 53,184.70 TOTAL 7,664,461.77 1,759,813.11 508,259.34 1,464,044.56 3.932,344.76 THIS YEAR TO DATE RESIDENTIAL 21,591,805.90 6,782,125.34 3,057,452.60 5,036,665.92 6,715,562.04 INDUS/MUNI BLDG 29,218,102.35 3,923,828.61 365,997.70 4,544,681.78 20,383,594.26 PUB.ST.LIGHTS 324,965.18 113,774.59 39,633.23 53,530.13 118,027.23 PRV.ST.LIGHTS 73,839.51 13,985.66 1,392.01 22,866.05 35,595.79 CO-OP RESALE 262,906.76 262,906.76 0.00 0.00 0.00 SCHOOL 1,001,235.24 357,097.86 209,030.08 133,608.17 301,499.13 TOTAL 52,472,854.94 11,453,718.82 3,673,505.60 9,791,352.06 27,554,278.46 LAST YEAR TO DATE RESIDENTIAL 20,200,320.24 6,288,974.94 2,896,708.70 4,659,020.64 6,355,615.96 INDUS/MUNI BLDG 28,406,880.81 3,772,988.32 355,639.88 4,564,487.17 19,713,765.44 PUB.ST.LIGHTS 325,358.00 112,634.78 40,273.95 54,006.63 118,442.64 PRV.ST.LIGHTS 73,324.07 14,159.11 1,407.33 22,619.42 35,138.21 CO-OP RESALE 250,010.33 250,010.33 0.00 0.00 0.00 SCHOOL 1,045,354.32 384,853.64 210,368.25 135,688.69 314,443.74 TOTAL 50,301,247.77 10,823,621.12 3,504,398.11 9,435,822.55 26,537,405.99 PERCENTAGE OF OPERATING INCOME TO TOTAL TOTAL READING LYNNFIELD NO.READING WILMINGTON MONTH RESIDENTIAL 42.15% 13.65% 5.42% 10.20% 12.88% INDUS/MUNI BLDG 54.39% 7.77% 0.70% 8.48% 37.44% PUB.ST.LIGHTS 0.62% 0.21% 0.07% 0.10% 0.24% PRV.ST.LIGHTS 0.14% 0.03% 0.00% 0.05% 0.06% CO-OP RESALE 0.52% 0.52% 0.00% 0.00% 0.00% SCHOOL 2.18% 0.78% 0.43% 0.28% 0.69% TOTAL 100.00% 22.96% 6.62% 19.11% 51.31% THIS YEAR TO DATE RESIDENTIAL 41.16% 12.93% 5.839. 9.60% 12.80% INDUS/MUNI BLDG 55.68% 7.48% 0.70% 8.66% 38.84% PUB.ST.LIGHTS 0.62% 0.22% 0.08% 0.10% 0.22% PRV.ST.LIGHTS 0.14% 0.03% 0.00% 0.04% 0.07% CO-OP RESALE 0.50% 0.50% 0.00% 0.00% 0.00% SCHOOL 1.90% 0.68% 0.40% 0.25% 0.57% TOTAL 100.00% 21.84% 7.01% 18.65% 52.50% LAST YEAR TO DATE RESIDENTIAL 40.16% 12.50% 5.76% 9.26% 12.64% INDUS/MUNI BLDG 56.46% 7.50% 0.71% 9.07% 39.18% PUB.ST.LIGHTS 0.65% 0.22% 0.08% 0.11% 0.24% PRV.ST.LIGHTS 0.14% 0.03% 0.00% 0.04% 0.079% CO-OP RESALE 0.50% 0.50% 0.00% 0.00% 0.00%; SCHOOL 2.09% 0.77% 0.42% 0.27% 0.63% TOTAL 100.00% 21.52% 6.97% 18.75% 52.76% (11A) TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT BUDGETED REVENUE VARIANCE REPORT 1/31/11 SCHEDULE F SALES OF ELECTRICITY: RESIDENTIAL COMM AND INDUSTRIAL SALES PRIVATE STREET LIGHTING MUNICIPAL BUILDINGS PUBLIC STREET LIGHTING SALES FOR RESALE SCHOOL TOTAL BASE SALES TOTAL FUEL SALES TOTAL OPERATING REVENUE FORFEITED DISCOUNTS PURCHASED POWER CAPACITY ENERGY CONSERVATION - RESIDENTIAL ENERGY CONSERVATION - COMMERCIAL GAW REVENUE PASNY CREDIT TOTAL OPERATING REVENUES * ( ) = ACTUAL UNDER BUDGET ACTUAL BUDGET % YEAR TO DATE YEAR TO DATE VARIANCE * CHANGE 12,189,278.90 10,816,739.00 1,372,539.90 12.69% 14,249,902.61 12,769,552.00 1,480,350.61 11.59% 227,536.10 313,796.00 (86,259.90) -27.49% 141,175.57 149,084.00 (7,908.43) -5.30% 517,027-.36 480,520.00 36,507.36 7.60% 27,324,920.54 24,529,691.00 2,795,229.54 11.40% 25,147,934.40 24,462,178.00 685,756.40 2.80% 52,472,854.94 48,991,869.00 3,480,985.94 7.11% 613,667.00 539,653.00 74,014.00 13.72% 1,156,560.83 3,268,779.00 (2,112,218.17) -64.62% 81,833.64 71,584.00 10,249.64 14.32% 229,315.47 252,193.00 (22,877.53) -9.07% 294,545.11 150,000.00 144,545.11 96.36% (427,390.42) (350,000.00) (77,390.42) 22.11% 54,421,386.57 52,924,078.00 1,497,308.57 2.83% (11B) TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT SCHEDULE OF OPERATING EXPENSES 1/31/11 SCHEDULE E MONTH MONTH LAST YEAR CURRENT YEAR YTD % OPERATION EXPENSES: LAST YEAR CURRENT YEAR TO DATE TO DATE CHANGE PURCHASED POWER BASE EXPENSE 2,387,788.41 2,243,845.82 16,448,359.66 16,388,717.23 -0.36% OPERATION SUPER AND ENGIN-TRANS 0.00 0.00 0.00 0.00 0.00% OPERATION SUP AND ENGINEERING EXP 32,242.67 33,668.76 232,433.66 270,214.05 16.25% STATION SUP LABOR AND MISC 15,096.47 8,859.23 41,649.35 63,125.29 51.56% LINE NISC LABOR AND EXPENSE 44,869.38 43,491.24 364,248.37 356,202.12 -2.21% STATION LABOR AND EXPENSE 31,162.93 29,842.11 -279,006.26 268,.217..62 -3.87% STREET LIGHTING EXPENSE 3,968.58 7,599.92 28,866.40 50,440.26 74.74% METER EXPENSE 33,298.73 24,501.33 233,460.22 194,366.47 -16.75% MISC DISTRIBUTION EXPENSE 25,972.54 24,046.77 187,758.73 192,257.83 2.40% METER READING LABOR & EXPENSE 5,053.74 5,200.39 45,270.09 44,281.91 -2.18% ACCT & COLL LABOR & EXPENSE 103,448.09 103,201.55 796,956.55 756,901.41 -5.03% UNCOLLECTIBLE ACCOUNTS 12,500.00 15,000.00 87,992.92 105,000.00 19.33% ENERGY AUDIT EXPENSE 40,241.02 29,958.16 270,899.39 227,665.92 -15.96% ADMIN & GEN SALARIES 57,805.63 53,561.74 453,133.93 411,056.66 -9.29% OFFICE SUPPLIES & EXPENSE 23,920.94 16,735.90 152,575.06 158,667.29 3.99% OUTSIDE SERVICES 23,124.83 17,380.36 171,123.69 115,609.34 -32.44% PROPERTY INSURANCE 30,958.55 31,705.39 221,251.98 216,066.71 -2.34% INJURIES AND DAMAGES 5,932.50 3,290.35 35,288.80 24,576.49 -30.36% EMPLOYEES PENSIONS & BENEFITS 407,749.58 359,736.87 961,446.95 1,024,538.66 6.56% NISC GENERAL EXPENSE 12,874.97 7,131.58 94,446.52 92,735.53 -1.81% RENT EXPENSE 16,487.43 16,613.92 100,126.37 101,878.33 1.75% ENERGY CONSERVATION 29,897.52 30,485.20 209,869.30 276,232.80 31.62% TOTAL OPERATION EXPENSES 956,606.10 862 010.77 4,967,804.54 4,950.034.69 -0.36%_ MAINTENANCE EXPENSES: MAINT OF TRANSMISSION PLANT 227.08 227.08 1,589.58 1,589.60 0.00% MAINT OF STRUCT AND EQUIPMT 8,433.66 12,647.92 46,281.35 89,162.68 92.65% MAINT OF LINES - OR 110,608.95 122,388.06 635,387.31 800,529.41 25.999, MAINT OF LINES - UG 15,987.64 17,302.03 94,086.67 83,078.45 -11.70% MAINT OF LINE TRANSFORMERS 454,172.46 432,482.83 592,545.80 1,293,045.04 118.22% MAINT OF ST LT & SIG SYSTEM (31.54) (18.34) (88.67) (117.88) 32.94% MAINT OF GARAGE AND STOCKROOM 40,123.95 57,796.92 288,172.27 307,482.09 6.70% MAINT OF METERS 0.00 7,593.73 531.31 7,593.73 -100.00% MAINT OF GEN PLANT 8,146.63 5,175.06 54,909.85 57,547.90 4.80% TOTAL MAINTENANCE EXPENSES 637,668.83 655,595.29 1,713,415.47 2,639,911.02 54.07% DEPRECIATION EXPENSE 280,105.78 287,729.05 1,960,740.46 2,014,103.35 2.72% PURCHASED POWER FUEL EXPENSE 3,704,455.86 3,620,814.67 24,961,985.54 24,651,235.51 -1.24% VOLUNTARY PAYMENTS TO TOWNS 104,500.00 105,885.00 731,246.00 765,885.00 4.74. TOTAL OPERATING EXPENSES 8,071,124.98 7,775,880.60 50,783,551.67 51,409,886.80 1.235. FY 11 YTD total includes GAW soil remediation expenses totalling $1,240,767.78 Total costs to date for entire project is $2,337,199.58 (12) TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT BUDGETED OPERATING EXPENSE VARIANCE REPORT 1/31/11 SCHEDULE G ACTUAL BUDGET % OPERATION EXPENSES: YEAR TO DATE YEAR TO DATE VARIANCE * CHANGE PURCHASED POWER BASE EXPENSE 16,388,717.23 16,393,147.00 (4,429.77) -0.03% OPERATION SUPER AND ENGIN-TRANS 0.00 0.00 0.00 0.00% OPERATION SUP AND ENGINEERING EXP 270,214.05 255,621.00 14,593.05 5.71% STATION SUP LABOR AND MISC 63,125.29 48,430.00 14,695.29 30.34% LINE MISC LABOR AND EXPENSE 356,202.12 316,796.00 39,406.12 12.44% STATION LABOR AND EXPENSE 268,217.62 247,722.00 20,495.62 8.27% STREET LIGHTING EXPENSE 50,440.26 38,823.00 11,617.26 29.92% METER EXPENSE 194,366.47 280,576.00 (86,209.53) -30.73% MISC DISTRIBUTION EXPENSE 192,257.83 199,541.00 (7,283.17) -3.65% METER READING LABOR & EXPENSE 44,281.91 37,312.00 6,969.91 18.68% ACCT & COLL LABOR & EXPENSE 756,901.41 813,690.00 (56,788.59) -6.98% UNCOLLECTIBLE ACCOUNTS 105,000.00 105,000.00 0.00 0.00% ENERGY AUDIT EXPENSE 227,665.92 285,549.00 (57,883.08) -20.27% ADMIN & GEN SALARIES 411,056.66 445,407.00 (34,350.34) -7.7191. OFFICE SUPPLIES & EXPENSE 158,667.29 162,358.00 (3,690.71) -2.27% OUTSIDE SERVICES 115,609.34 178,808.00 (63,198.66) -35.34% PROPERTY INSURANCE 216,066.71 279,321.00 (63,254.29) -22.65% INJURIES AND DAMAGES 24,576.49 37,991.00 (13,414.51) -35.31% EMPLOYEES PENSIONS & BENEFITS 1,024,538.66 757,256.00 267,282.66 35.30% MISC GENERAL EXPENSE 92,735.53 151,284.00 (58,548.47) -38.70% RENT EXPENSE 101,878.33 123,669.00 (21,790.67) -17.62% ENERGY CONSERVATION 276,232.80 392,389.00 (106,156.20) -27.76% TOTAL OPERATION EXPENSES 4,950,034.69 5,147,543.00 (197,508.31) -3.84% MAINTENANCE EXPENSES: MAINT OF TRANSMISSION PLANT 1,589.60 1,750.00 (160.40) -9.17% MAINT OF STRUCT AND EQUIPMENT 89,162.68 110,935.00 (21,772.32) -19.63% NAINT OF LINES - OR 800,529.41 683,744.00 116,785.41 17.08% MAINT OF LINES - UG 83,078.45 110,932.00 (27,853.55) -25.11% MAINT OF LINE TRANSFORMERS 1,293,045.04 660,794.00 632,251.04 95.68% MAINT OF ST LT & SIG SYSTEM (117.88) 51151.00 (5,268.88) -102.29% MAINT OF GARAGE AND STOCKROOM 307,482.09 421,352.00 (113,869.91) -27.02% NAINT OF METERS 7,593.73 2,236.00 5,357.73 239.61% MAINT OF GEN PLANT 57,547.90 77,000.00 (19,452.10) -25.26% TOTAL MAINTENANCE EXPENSES 2,639,911.02 2,073,894.00 566,017.02 27.29% DEPRECIATION EXPENSE 2,014,103.35 2,041,669.00 (27,565.65) -1.35% PURCHASED POWER FUEL EXPENSE 24,651,235.51 25,542,178.00 (890,942.49) -3.49% VOLUNTARY PAYMENTS TO TOWNS 765,885.00 770,000.00 (41115.00) -0.53% TOTAL OPERATING EXPENSES 51,409,886.80 51,968,431.00 (558,544.20) -1.07% * ( ) = ACTUAL UNDER BUDGET FY 11 YTD total includes GAW soil remediation expenses totalling $1,240,767.78 Total costs to date for entire project is $2,337,199.58 (12A) TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT BUDGETED OPERATING EXPENSE VARIANCE REPORT 1/31/11 RESPONSIBLE REMAINING SENIOR 2011 ACTUAL BUDGET REMAINING OPERATION EXPENSES: MANAGER ANNUAL BUDGET YEAR TO DATE BALANCE BUDGET % PURCHASED POWER BASE EXPENSE JP 27,711,574.00 16,388,717.23 11,322,856.77 40.86% OPERATION SUPER AND ENGIN-TRANS KS 0.00 0.00 0.00 0.00% OPERATION SUP AND ENGINEERING EXP KS 441,828.00 270,214.05 171,613.95 38.84% STATION SUP LABOR AND MISC KS 85,205.00 63,125.29 22,079.71 25.91% LINE MISC LABOR AND EXPENSE KS 520,806.00 356,202.12 164,603.88 31.61% STATION LABOR AND EXPENSE KS 426,438.00 268,217.62 158,220.38 37.10% STREET LIGHTING EXPENSE KS 66,694.00 50,440.26 16,253.74 24.37% METER EXPENSE DA 482,771.00 194,366.47 288,404.53 59.74% MISC DISTRIBUTION EXPENSE JD 347,115.00 192,257.83 154,857.17 44.,61% METER READING LABOR & EXPENSE DA 64,358.00 44,281.91 20,076.09 31.19% ACCT & COLL LABOR & EXPENSE RF 1,397,984.00 756,901.41 641,082.59 45.86% UNCOLLECTIBLE ACCOUNTS RF 180,000.00 105,000.00 75,000.00 41.67% ENERGY AUDIT EXPENSE JP 494,776.00 227,665.92 267,110.08 53.99% ADMIN & GEN SALARIES VC 776,849.00 411,056.66 365,792.34 47.09% ,OFFICE SUPPLIES & EXPENSE VC 278,100.00 158,667.29 119,432.71 42.95% OUTSIDE SERVICES VC 293,500.00 115,609.34 177,890.66 60.61% PROPERTY INSURANCE JD 478,900.00 216,066.71 262,833.29 54.88% INJURIES AND DAMAGES JD 64,805.00 24,576.49 40,228.51 62.08% EMPLOYEES PENSIONS & BENEFITS JD 1,188,607.00 1,024,538.66 164,068.34 13.80% MISC GENERAL EXPENSE VC 212,096.00 92,735.53 119,360.47 56.28% RENT EXPENSE- JD 212,000.00 101,878.33 110,121.67 51.94% ENERGY CONSERVATION JP 643,730.00 276,232.80 367,497.20 57.09% TOTAL OPERATION EXPENSES 8,656,562.00 4,950,034.69 3,706,527.31 42.82% MAINTENANCE EXPENSES: MAINT OF TRANSMISSION PLANT KS 3,000.00 1,589.60 1,410.40 47.01% MAINT OF STRUCT AND EQUIPMT KS 187,404.00 89,162.68 98,241.32 52.42% MAINT OF LINES - OR KS 1,199,735.00 800,529.41 399,205.59 33.27% MAINT OF LINES - UG KS 190,258.00 83,078.45 107,179.55 56.33% MAINT OF LINE TRANSFORMERS KS 693,500.00 1,293,045.04 (599,545.04) -86.45% MAINT OF ST LT & SIG SYSTEM JD 8,857.00 (117.88) 8,974.88 101.33% MAINT OF GARAGE AND STOCKROOM JD 676,532.00 307,482.09 369,049.91 54.55% MAINT OF METERS DA 3,875.00 7,593.73 (3,718.73) -95.97% MAINT OF GEN PLANT RF 132,000.00 57,547.90 74,452.10 56.40% TOTAL MAINTENANCE EXPENSES 3,095,161.00 2,639,911.02 455,249.98 14.71% DEPRECIATION EXPENSE RF 3,500,000.00 2,014,103.35 1,485,896.65 42.45% PURCHASED POWER FUEL EXPENSE JP 39,512,664.00 24,651,235.51 14,861,428.49 37.61% VOLUNTARY PAYMENTS TO TOWNS RF . 1,320,000.00 765,885.00 554,115.00 41.98% TOTAL OPERATING EXPENSES 83,795,961.00 51,409,886.80 32,386,074.20 38.65% FY 11 YTD total includes GAW soil remediation expenses totalling $1,240,767.78 Total costs to date for entire project is $2,337,199.58 (12B) TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT PROFESSIONAL SERVICES 1/31/2011 PROFESSIONAL SERVICES BY PROJECT ITEM 1 RMLD AND PENSION TRUST AUDIT FEES 2 PENSION ACTUARIAL EVALUATION 3 LEGAL- FERC/ISO ISSUES 4 LEGAL- POWER SUPPLY ISSUES 5 PROFESSIONAL SERVICES 6 NERC COMPLIANCE 7 ENGINEERING STUDIES 8 LEGAL SERVICES- GENERAL 9 LEGAL SERVICES- ARBITRATION 10 LEGAL GENERAL 11 LEGAL GENERAL 12 SURVEY RIGHT OF WAY 13 ENVIRONMENTAL 14 ENGINEERING SERVICES 15 INSURANCE CONSULTANT TOTAL PROFESSIONAL SERVICES BY VENDOR MELANSON HEATH & COMPANY PC RUBIN AND RUDMAN DUNCAN AND ALLEN CHOATE HALL AND STEWART UTILITY SERVICES INC. AMERICAN ARBITRATION ASSOCIATION COVINO ENVIRONMENTAL ASSOCIATES ROMAREE INSURANCE STONE CONSULTING INC. TOTAL DEPARTMENT ACTUAL BUDGET VARIANCE ACCOUNTING 31,250.00 36,000.00 (4,750.00) ACCOUNTING 6,000.00 0.00 6,000.00 ENERGY SERVICE 0.00 10,500.00 (10,500.00) ENERGY SERVICE 5,820.51 28,000.00 (22,179.49) ENERGY SERVICE 0.00 17,500.00 (17,500.00) E & 0 4,987.50 4,375.00 612.50 ENGINEERING 0.00 11,250.00 (11,250.00) GM 59,978.09 29,169.00 30,809.09 HR 3,345.35 0.00 3,345.35 HR 1,297.55 24,500.00 (23,202.45) BLDG. MAINT. 0.00 675.00 (875.00) BLDG. MAINT. 0.00 2,919.00 (2,919.00) BLDG. MAINT. 1,472.00 2,919.00 (1,447.00) BLDG. MAINT. 0.00 4,970.00 (4,970.00) GEN. BENEFIT 1,458.34 5,831.00 (4,372.66) 115,609.34 178,808.00 (63,198.66) ACTUAL 49,698.99 34,450.06 12,899.55 4,442.90 4,987.50 200.00 1,472.00 1,458.34 6,000.00 115,609.34 (13) 2/21/2011 10:57 AM DIVISIONS AND DEPARTMENTS F!nTl3TT7F!F.R TTTf' j.LTQD OPERATTQj`7S; E&O MGR ENGINEERING LINE METER READING METER TECHNICIANS STATION OP STATION TECHS DIVISION TOTAL RMLD BUDGET VARIANCE REPORT FOR PERIOD ENDING JANUARY 31, 2011 ACTUAL BUDGET VARIANCE CHANGE 113,664 118,596 (4,932) -4.16% 270,781 267,450 3,331 1.25% 1,291,874 1,157,342 134,532 11.62% 44,282 37,314 6,968 18.67% 195,111 280,722 (85,610) -30.50% 331,343 296,151 35,192 11.88% 1,389,801 774,260 615,542 79.50% 3,636 858 2,931,835 705,022 24.05% 509,656 724,230 (214,574) -29.63% (3F.T~~!R A7. M_ANAC-F•R• GENERAL MANAGER HUMAN RESOURCES COMMUNITY RELATIONS CAB BOARD DIVISION TOTAL FACTLTT_V_ M_AWAQE . GENERAL BENEFITS BUILDING MAINTENANCE MATERIALS MANAGEMENT DIVISION TOTAL BUSINESS DIVISION, ACCOUNTING CUSTOMER SERVICE MIS MISCELLANEOUS DEDUCTIONS DIVISION TOTAL DIVISION TOTALS PURCHASED POWER - BASE PURCHASED POWER - FUEL 227,582 212,573 15,009 7.06% 67,154 112,458 (45,304) -40.28% 90,620 120,675 (30,055) -24.91% 3,621 8,693 (5,072) -58.340 3,664 4,875 (1,211) -24.83% 392,642 459,273 (66,632) -14.51% 1,408,552 1,261,244 147,309 11.68% 309,029 433,033 (124,004) -28.64% 192,269 200,418 (81149) -4.079. 1,909,850 1,894,695 15,156 0.80% 439,472 462,295 (22,823) -4.94% 359,990 387,279 (27,290) -7.05% 320,677 339,265 (18,588) -5.48% 4,077,014 4,109,978 (32,964) -0.80% 5,197,153 5,298,817 (101,664) -1.92% 11,646,158 11,308,850 337,308 2.98% 16,388,717 16,393,147 (4,430) -0.03% 24,651,236 25,542,178 (890,942) -3.49% TOTAL 52,686 111 53,244,175 (558,064) -1.05% RMLD DEFERRED FUEL CASH RESERVE ANALYSIS 1/31/11 GROSS MONTHLY TOTAL DATE CHARGES REVENUES PASNY CREDIT DEFERRED DEFERRED Jun-10 2,326,112.09 Jti1-10 4,555,108.56 3,536,618.90 (98,501.74) (1,116,991.40) 1,209,120.69 Aug-10 4,151,871.47 3,658,721.48 (49,929.96) (543,079.95) 666,040.74 Sep-10 3,437,081.39 4,007,231.89 (52,662.99) 517,487.51 1, 183, 528.25 Oct-10 2,586,224.15 3,632,858.99 (62,298.35) 984,336.49 2,167,864.74 Nov-10 2,717,341.26 3,468,972.22 (3.2,335.11) 719,295.85 2,887,160.59 Dec-10 3,582,794.01 3,213,832.76 (71,724.91) (440,686.16) 2,446,474.43 Jan-11 3,620,814.67 3, 629, 698.16 (59,937.36) (51,053.87) 2,395,420.56 RMLD STAFFING REPORT FOR FISCAL YEAR ENDING JUNE, 2011 ACTUAL 11 BUD JUL AUG SEP OCT NOV DEC JAN TOTAL 10 10 10 10 10 10 11 GENERAL MANAGER GENERAL MANAGER 2 2 2 - 2 2 2 2 2 HUMAN RESOURCES 1.5 1 1 1 1 1 1 1 COMMUNITY RELATIONS 1.5 1 1 1 1 1 1 1 TOTAL 5 4 4 4 4 4 4 4 BUSINESS ACCOUNTING 2 2 2 .2 2 2 2 2 CUSTOMER SERVICE 9 8 8 8 8 8 8 8 MGMT INFORMATION SYS 6 6 6 6 6 6 6 6 MISCELLANEOUS 1 1 1 1 1 1 1 1 TOTAL 18 17 17 17 17 17 17 17 ENGINEERING & OPERATIONS AGM E&O 2 2 2 2 2 2 2 2 ENGINEERING 5 5 5 5 5 5 5 5 LINE 20 19 19 19 19 19 19 19 METER 6 6 6 6 6 6 6 6 STATION 9 9 9 9 9 9 9 9 TOTAL 42 41 41 41 41 41 41 41 PROJECT BUILDING 2 2 2 .2 2 2 2 2 GENERAL BENEFITS 2 2 2 2 2 2 2 2 TRANSPORTATION 0 0 0 0 0 0 0 0 MATERIALS MGMT 4 4 4 4 4 4 4 4 TOTAL 8 8 8 8 8 8 8 8 ENERGY SERVTnRS ENERGY SERVICES 6 6 5 5 5 5 5 5 TOTAL 6 6 5 5 5 5 5 5 RMLD TOTAL 79 76 75 75 75 75 75 75 CONTRACTORS UG LINE 2 2 2 2 2 2 2 2 TOTAL 2 2 2 2 2 2 2 2 GRAND TOTAL 81 78 77 77 77 77 77 77 ATTACHMENT 2 To: Vincent Cameron From: Energy Services Date: February 15, 2011 Subject: Purchase Power Summary - January 2011 Energy Services Division (ESD) has completed the Purchase Power Summary for the month of January, 2011. ENERGY The RMLD's total metered load for the month was 62,489,658 kWh, which was an increase of 1.95 % compared to January, 2010 figures. Table 1 is a breakdown by source of the energy purchases. TABLE 1 Amount of Cost of % of Total Total $ $ as a Resource Energy Energy Energy Costs % (kWh) ($/Mwh) Millstone #3 3,715,859 $5.86 5.94% $21,771 0.60% Seabrook 5,887,585 $8.84 9.41 % $52,033 1.44% JP Morgan 9,288,000 $23.44 14.85% $507,955 14.03% Stonybrook 2,016,188 $251.94 3.22% $217,708 6.01% Constellation 7,440,000 $65.25 11.89% $485,424 13.41 PASNY 1,836,592 $4.92 2.94% $9,036 0.25% ISO Interchange 12,456,389 $65.75 19.91% $819,687 22.64% NEMA Congestion 0 $0.00 0.00% -$75,811 -2.09% Coop Resales 74,442 $132.19 0.12% $9,840 0.27% Stonybrook Peaking 56,597 $168.62 0.09% $9,543 0.26% MacQuarie 19,416,000 $77.78 31.03% $1,510,182 41.71% Braintree Watson Unit 375,308 $142.41 0.60% $53,446 1.48% Monthly Total 62,562,960 $57.87 100.00% $3,620,815 100.00% Resource ISO DA LMP Settlement RT Net Energy Settlement ISO Interchange (subtotal) Table 2 breaks down the ISO interchange between the DA LMP Settlement and the RT Net Energy for month of January, 2011. Table 2 Amount Cost % of Total of Energy of Energy Energy (kWh) ($/Mwh) 8,361,245 36.94 13.36% 4,095,144 124.56 6.55% 12,456,389 65.75 19.91% CAPACITY The RMLD hit a demand of 112,174 kWs, which occurred on January 24, 2011 at 7 pm. The RMLD's monthly UCAP requirement for January, 2011 was 205,111 kWs. Table 3 shows the sources of capacity that the RMLD utilized to meet its requirement. Source Table 3 Amount (kWs) Cost ($/kW-month) Total Cost $ % of Total Cost Millstone #3 Seabrook Stonybrook Peaking Stonybrook CC P.asny HQICC ISO-NE Supply Auction Braintree Watson Unit Total 4,991 $62.16 $310,227 7,902 $56.62 $447,422 24,981 $1.81 $45,322 42,925 $3.15 $135,259 0 $2.96 $11,896 0 0 $22,305 113,792 $3.61 $410,423 10,520 $10.42 $109,635 205,111 $7.28 $1,492,489 20.79% 29.98% 3.04% 9.06% 0:80% 1.49% 27.50% 7.35% 100.00% Table 4 Resource Energy Capacity Total cost % of Total Cost Millstone #3 $21,771 $310,227 $331,998 6.49% Seabrook $52,033 $447,422 $499,455 9.77% Stonybrook $217,708 $135,259 $352,967 6.90% HQ II $0 $22,305 $22,305 0.44% Constellation $485,424 $0 $485,424 9.49% PASNY $9,036 $11,896 $20,932 0.41% ISO Interchange $819,687 $410.423 $1,230,110 24.06% Nema Congestion 475,811 $0 -$75,811 -1.48% Coop Resales $9,840 $0 $9,840 0.19% Stonybrook Peaking $9,543 $45,322 $54,866 1.07% Integrys $507,955 $0 $507,955 9.93% MacQuarie $1,510,182 $0 $1,510,182 29.53% Braintree Watson Unit $53,446 $109,635 $163,081 3.19% Monthly Total $3,620,815 $1,492,489 $5,113,304 100.00% Table 4 shows the total dollar amounts for en ergy and capacity per source. TR~kNTSMISSI®N The RMLD's total transmission costs for the month of January, 2011 are $754,397. This is a 20.5% increase from the December 2010 cost of $626,014. In 2010, the transmission costs for the month of January, 2010 were $650,537. Table 5 Current Month Last Month Last Year Peak Demand (kW) 112,174 113,519 106,870 Energy (kWh) 62,562,960 62,045,389 61,393,989 Energy $3,620,815 $3,582,794 $3,704,456 Capacity $1,492,489 $1,514,780 $1,737,772 Transmission $754,397 $626,014 $650,537 Total $5,867,701 $5,723,588 $6,092,764 Table 5 shows the current month vs. last month and last year (January, 2010). ATTACHMENT 3 00 c c O O L L C C O O U U (D a) E E a) a) U U U) N L L N U) U) O c c tII t6 L L m a) a) a) a) Q) N 'c 'c ~ aaaa as a'm'm E E E E E E E E E Z U U U U U U U w Ix tT c L O L O U a) E a) L U N L `E O C t0 L _c (1) a) a) (1) a) a) a) 'c m U) aaaaaaa'a Q. 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CL 2/17/2011 2:01 PM READING MUNICIPAL LIGHT DEPARTMENT FY 11 CAPITAL BUDGET VARIANCE REPORT FOR PERIOD ENDING JANUARY 31, 2011 # PROJECT DESCRIPTION E&O Construction - SVstem Projects 1 4W14 Reconductoring - West Street 2 4W14 Extension - Woburn Street 3 Station #4 Getaway 4W i7 Replacements (FY10 Budget) 4 Boutwell Street 5 Chestnut Street - 6 Haverhill Street - Reconductoring (FYI 0 Budget) 7 URD Completions-Perkins Farm-Lynnfield and Chestnut Village, North Reading (FYI 0 Budget) 8 Salem St.to Glen Rd. 13kV Feeder Tie (FYI 0 Budget) 22 Wilmington - Main Street (FY10 Budget) 33 4W4 Reconductoring (formerly Project 3) 36 3W8 Salem Street & Baystate Road (formerly Project 6) 37 Elm Street (Formerly Project 7) Station Upgrades Station #4 38 115kV Insulator Replacement (formerly Project 8) 9 115kV Disconnect Replacement 11 Transformer Replacement Part 1 - Contractual Labor Part 2 - Procured Equipment Part 3 - RMLD Labor Part 4 - Feeder Re-Assignment Station #5 23 15kV Circuit Breaker Replacement (Carryover FYI 0 Bud) New Customer Service Connections 12 Service Installations-Commercial/Industrial Customers 13 Service Installations O/H & U/G - Residential Customers 14 Routine Construction Various Routine Construction Total Construction Projects Other Projects 15 GIS 16 Transformers/Capacitors Annual Purchases 17 Meter Annual Purchases 18 Purchase Two New Small Vehicles 19 Replace Line Department Vehicles 20 Purchase Pole Trailer 21 Upgrade Lighting Stockroom and Meter Room 24 Enlarge Parking Area and Construct Island 27 Hardware Upgrades 28 Software and Licensing Total Other Projects TOTAL RMLD CAPITAL PROJECT EXPENDITURES ACTUAL YTD ACTUAL ANNUAL COST COST BUDGET TOWN JANUARY THRU 1/31/11 AMOUNT VARIANCE W 234,470 234,470 W 157,958 157,958 R 157,877 169,928 12,051 W 37,559 84,205 125,955 41,750 W 171,933 171,933 R 1,499 102,575 100,534 (2,041) NR, L 3,146 43,940 72,484 28,544 W 11,531 11,334 (197) W 30,834 34,975 4,141 W 103,315 103,315 R 19,478 49,028 207,439 158,411 NR 11,821 129,405 132,011 2,606 R 33,935 51,543 144,323 92,780 R 87,975 87,975 R 617,619 772,274 545,500 (226,774) R 7,162 30,000 22,838 R 9,035 102,061 64,324 (37,737) R 3,919 45,371 236,034 190,663 W 125,552 158,731 33,179 ALL 13,873 44,594 55,055 10,461 ALL 18,397 117,439 200,345 82,906 ALL 45,735 658,073 982,565 324,492 816,015 2,533,463 4,027,188 1,493,724 12,125 20,000 7,875 23,975 228,708 190,167 (38,541) 8,355 229,216 765,875 536,659 64,000 64,000 360,000 360,000 15,000 15,000 3,798 22,400 18,602 10,775 10,775 1,410 33,700 32,290 200 3,310 96,476 93,166 32,530 478,567 1,578,393 1,099,826 848,545 3,012,030 5,605,581 2,593,551 29 Force Account / Reimbursable Projects ALL TOTAL FY 11 CAPITAL PROJECT EXPENDITURES 848,545- - 3,012,030 5,605,581 2,593,551 completed projects - Reading Municipal Light Department Engineering and Operations Monthly Report January, 2011 FY 2011 Capital Plan E&O Construction - System Projects 1. 4W14 Reconductoring - West Street - Wilmington - No activity. 2. 4W14 Extension - Woburn Street - Wilmington - No activity. 3. Station #4 Getaway 4W17 Replacements - Reading (FY10 Budget) - Project complete 4. Boutwell Street - Wilmington - Installed primary spacers; hung tri-blocks; spliced cable; installed cable; installed taps; performed transfers. 5. Chestnut Street - Wilmington- No activity. 6. Haverhill Street - Reading - Reconductoring - (FY10 Budget) - Police detail. Project complete. 7. URD Completions - Parker/Perkins, North Reading - Conversion; changed taps on padmount transformers and connected section of loop to complete. 8. Salem Street to Glen Road 13 kV Feeder Tie - Wilmington - (FY10 Budget) - Project complete. 22. Wilmington - Main Street (FY 10 Budget) - Project complete. 33. 4W4 Reconductoring - Wilmington - No activity. 36. 3W8 Salem & Bay State Road - Reading -Engineering labor; installed messenger; framed and did make ready work for new spacer cable. 37. Elm Street - North Reading - Ground messenger and installed downground; framed for single phase; installed primary cable; performed transfers; underground switching. Substation Upgrade Projects 38. 115kV Insulator Replacement - Station 4 - Reading - Changed out insulators; linemen and senior techs labor. 9. 115kV Disconnect Replacement - Station 4 - Reading - No activity. 11. Transformer Replacement- Station 4 -Reading Part 1 - Contractual Labor - Fischbach and Moore applications for payment. Part 2 - Procured Equipment - Part 3 - RMLD Labor - Senior techs labor. Part 4 - Feeder Re-Assignment - Underground work, switching and phasing. 23. 15kV Circuit Breaker Replacement - No activity. New Customer Service Connections 12. Service Installations - Commercial/Industrial Customers - This item includes new service connections, upgrades, and service replacements for the commercial and industrial customers. This represents the time and materials associated with the replacement of an existing or installation of a new overhead service, the connection of an underground service, etc. This does not include the time and materials associated with pole replacements/installations, transformer replacement/installations, primary or secondary cable replacement/installations etc. This portion of the project comes under routine construction. New commercial services in January include 50 Concord Street, Wilmington and Brown's Crossing, Wilmington. 13. Service Installations - Residential Customers - This item includes new or upgraded overhead and underground services, temporary overhead services, and large underground development. 14. Routine Construction - The drivers of the Routine Construction budget category YTD are listed. This is not an inclusive list of all items within this category. Pole Setting/Transfers $153,191 Maintenance Overhead/Underground $216,222 Projects Assigned as Required $33,683 Pole Damage includes knockdowns some reimbursable $28,470 Station Group $9,709 Hazmat/Oil Spills $0 Porcelain Cutout Replacement Program $22,607 Lighting (Street Light Connections) $25,361 Storm Trouble $7,906 Underground Subdivisions $42,948 Miscellaneous Capital Costs $117,975 TOTAL $658,073 *In the month of December, 14 cutouts were charged under this program. Approximately 21 cutouts were installed new or replaced because of damage making a total of 35 cutouts replaced this month. 2 Reliability Report Two key industry standard metrics have been identified to enable the RMLD to measure and track system reliability. A rolling 12-month view is being used for the purposes of this report. Customer Average Interruption Duration Index (CAIDI) - Measures how quickly the RMLD restores power to customers when their power goes out. CAIDI = Total of Customer Interruption Duration for the Month in Minutes/ Total number of customers interrupted. RMLD 12 month system average outage duration - 48.92 minutes RMLD 4 year average outage (2006-2009) - 50.98 minutes per outage On average, RMLD customers that experience an outage are restored in 48.92 minutes. 80.00 70.66 70.66 vs - ~ 70.00 ---83-3 60.54 60.00 - - 52.5 X4'9 as 50.00 - - - - - 3 .60 39.13 40.00 O 30.00 1 .0 20.00 U 10.00 - 0.00 Monthly minutes per outage RMLD 12 month system average outage duration 48.92 RMLD 4 year average outage duration 50.98 (2006-2009) 3 System Average Interruption Frequency (SAIFI) - Measures how many outages each customer experiences per year on average.' SAIFI = Total number of customer's interrupted / Total number of customers. RMLD 12 month system average - .63 outages per year RMLD 4 year average outage frequency - .82 The graph below tracks the month-by-month SAIFI performance. 1.80 1.56 N 1.60 C 1.40 1.12 1.13 75 1.20 C 0 1.00 1 0.80 070 0 54 _ 0.60 -0 .35 d 0.40 0 31 LL 0.20 -0.11 0.12 0.00 No No No No No No o ^ -~-RMLD monthly outage frequency - RMLD 12 month system average outage frequency .63 RMLD 4 year average outage frequency .82 (2006-2009) Months Between Interruptions (MBTI) Another view of the SAIFI data is the number of months Reading customers have no interruptions. 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C 4I- Jeanne Foci From: Vincent Cameron Sent: Monday, January 24, 2011 1:59 PM To: Mary Ellen O'Neill; Richard Hahn; Phil Pacino; Bob Soli; Gina Snyder Cc: Bob Fournier; Mark Uvanni; Lee Ann Fratoni; Jeanne Foti Subject: Account Payable Questions - January 21 Snyder 1. AT+T - Perhaps we should get rid of the 800#, there were no calls + it seems to get late charges + there's many cell phones. I will look into the 800 number. 2. JCM Realty - Why doesn't electric total match what is on bill? shouldn't we be paying on time to get our discount?) JCM pays the discounted amount on RMLD bills. We reimburse them for 66% of the electric cost. The amount for the electric bill represents the discounted amount for each bill ((920.53+43.18).66)=636.05. 2/15/2011 Jeanne Foti From: Vincent Cameron Sent: Monday, January 31, 2011 9:07 AM To: Mary Ellen O'Neill; Richard Hahn; Phil Pacino; Bob Soli; Gina Snyder Cc: Bob Fournier; Kevin Sullivan, Lee Ann Fratoni; Jeanne Foti Subject: Account Payable Questions 1-31-11 Snyder 1. WESCO - 2 invoices for 4 flood lights dated the same day - were these separate shipments? (invoice 29003 + 29005) These are two separate streetfight orders with the same invoice date. The RMLD PO 11-E00173, which is attached to WESCO invoice 290025, states the order was placed on 11 /24/10 for four 400 watt floodlights. RMLD PO 11-E00243, which is attached to WESCO invoice 290023, states the order was placed on 12/17/10 for twenty 400 watt floods in addition to 50 watt and 100 watt streetlights. 1/31/2011 Jeanne Fob From: Vincent Cameron Sent: Monday, February 14, 2011 9:59 AM To: Mary Ellen O'Neill; Richard Hahn; Phil Pacino; Bob Soli; Gina Snyder Cc: Bob Fournier; Jane Parenteau; Joe Donahoe; Lee Ann Fratoni: Jeanne Foti Subject: FW: Account Payable Questions - 2/7 and 2/14 Hahn 1. Office Team - Why did we need these services? We are short handed in Facilities and need temporary help. This is the company we contracted with to supply the temp. help. Snyder 1. Century - Is the new "e-pay" the Board approved a few months ago going to replace this? + When will that begin? In March. 2. Reading Sq. Auto body - What happened to this vehicle? The truck hit a front loader during snow plow operations. 3. P.O. Question - Shouldn't PO's be done prior to the work? + one of 2 of 2 Stoneham Motor PO indicator created 1/26 signed 1/25. Sometimes the work is estimated and performed and the PO is cut. The PO was dated 1/26 incorrectly. It should have been 1/25. It has been corrected. Snyder 1. MMWEC - Why does the remittance cost indicate "VOID VOID VOID VOID under wire transfer? + Totals in attachment (last 2 pgs) don't match billings? This occurs because there is no address on the front page. Void, void void is where the address would go. There are two payments for the Power Sales Agreements. One is for $229,023.59 for the Peaking and Intermediate Projects and is sent to the MMWEC Zero Balance Account. The other payment is $827,178.80, and sent to the MMWEC Trustee Revenue Fund Account for the Millstone/Seabrook Projects. The difference between the two payments is that there are outstanding bonds for the Millstone/Seabrook projects. 2. Cameron - I thought we signed off on the table skirt last week? Is this another one? A Board Member signed off on the weekend of 2,15-6/11. It was then put into the payables for this past week. There are checks and balances in the RMLD accounts payable process that prevent a bill from being paid twice. 2/14/2011 Excerpt from E-Mail from Reading Resident and Town Meeting Member Dave Talbot to Commissioner Mary Ellen O'Neill - February 21, 2011 "Three ideas: 1. Electric water heaters. I would love to see RMLD wage a campaign to banish the electric-powered hot water heater from the district. Of course you'll never get rid of all of them. But they are responsible for four to five times as much C02 emissions than just directly using gas.(As you know there are huge system losses involved in producing electricity from fossil fuels - mainly at the power plant, where 60 to 70 percent of the energy goes up the chimney as waste heat. In a house, that heat would be directly heating the water.) I would guess that electric water heaters make up a noticeable fraction of all load in the RMLD's zone. Maybe S or 10 percent? Do you have this data? Anyway, people who have electric water heaters should switch to gas heaters ideally tankless ones - and it would be worth offering extra subsidies to achieve this goal. People who don't have available gas service would ideally be offered RMLD- amortized programs to install solar hot-water heaters. These are not photovoltaics - just black boxes on roofs. Yes they cost $10,000 or more to put in. But then they save $40 or more a month in electricity, forever - 20 year payback or thereabouts. Why not get RMLD involved in a revolving loan fund? You could really get rid of many thousands of electric hot-water heaters in the zone and see a measurable drop in load. This is the kind of highly specific program that RMLD could embark on - starting with a survey of residents to see who has electric hot water heaters, specific subsidy programs to get rid of them. 2. A/C Compressors. Of course, the other big one would be to get control of people's central A/C compressors - offer incentives that you can shut them down for 30 minutes on a revolving bads during those horrible peak hours in July and August. With smart meters and switches and incentives, it can be done. Those monsters chew up huge amounts of electricity, as you well know. And if you can do this kind of "peak shaving" then you don't need to add capacity, and the power-producers maybe don't need to switch on peaking plants. 3. Streetlights Do we really need these bright sodium lights everywhere? Why don't we get rid of every other light? What's the evidence for safety? I've heard that streetlights were installed in many places simply to provide a way to keep power plants from having to shut down at night.