Wed, May 14, 4:00 PM (33 days ago)
**Oglethorpe Power Corporation (OPC) - Q1 2025 Financial Summary** **Financial Health & Performance:** - **Revenue:** $677.6 million (up 26.3% from Q1 2024) - Sales to members: $668.3 million (up 24.8%) - Sales to non-members: $9.3 million (up 882.5%) - **Net Margin:** $43.0 million (up 2.1% from Q1 2024) - **Operating Expenses:** $515.5 million (up 23.9% from Q1 2024) - Fuel costs increased by 45.3% due to higher generation and natural gas prices. - Production costs increased by 11.2% due to Vogtle Units and lower maintenance outages. - Depreciation and amortization increased by 12.7% due to Vogtle Unit No. 4. - **Profit Margins:** Operating margin of 24.0% (down from 22.4% in Q1 2024) - **Cash Flow:** Net decrease in cash of $88.8 million (vs. $163.1 million decrease in Q1 2024) - Operating activities provided $36.9 million (vs. $98.1 million in Q1 2024) - Investing activities used $168.4 million (vs. $183.4 million in Q1 2024) - Financing activities provided $42.7 million (vs. used $77.9 million in Q1 2024) **Key Trends & Uncertainties:** - **Load Growth:** Projected load growth in Georgia drives new generation projects. - **Environmental Regulations:** EPA's greenhouse gas rule and ELG rule may impact operations and costs. - **Liquidity:** $1.8 billion of unrestricted available liquidity to meet short-term needs. - **Future Operations:** New natural gas-fired generation resources and battery storage projects planned. **Future Operations Impact:** - **New Projects:** Two new natural gas-fired generation resources and battery storage projects planned. - **Environmental Regulations:** Potential impacts from EPA's greenhouse gas rule and ELG rule. - **Liquidity:** Sufficient liquidity to cover normal operations and interim financing needs. **Ticker:** OPC is not publicly traded, as it is an electric membership corporation owned by 38 retail electric distribution cooperative members.