Our operating revenues for the three months ended March 31, 2025 and 2024, were as follows:
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Three Months
Ended
March 31, |
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2025 |
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2024 |
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(in thousands) |
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Operating revenues: |
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Member distribution cooperatives: |
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Formula rate: |
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Energy revenues |
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$ |
148,284 |
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$ |
144,625 |
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Renewable energy credits |
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306 |
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110 |
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Demand revenues |
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141,463 |
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115,694 |
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Total Formula rate revenues |
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290,053 |
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260,429 |
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Market-based rates: |
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Energy revenues |
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23,804 |
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7,452 |
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Demand revenues |
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3,501 |
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1,285 |
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Total Market-based rates revenues |
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27,305 |
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8,737 |
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Total Member distribution cooperatives revenues |
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317,358 |
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269,166 |
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Non-members: |
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Energy revenues |
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5,166 |
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1,346 |
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Renewable energy credits |
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1,086 |
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972 |
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Total Non-members revenues |
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6,252 |
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2,318 |
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Total Operating revenues |
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$ |
323,610 |
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$ |
271,484 |
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