| Schedule of Operating Revenue |
Our operating revenues for the three and six months ended June 30, 2025 and 2024, were as follows:
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Three Months
Ended
June 30, |
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Six Months
Ended
June 30, |
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2025 |
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2024 |
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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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$ |
120,201 |
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$ |
122,351 |
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$ |
268,485 |
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$ |
266,976 |
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Renewable energy credits |
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3 |
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91 |
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309 |
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201 |
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Demand revenues |
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135,676 |
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124,297 |
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277,139 |
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239,991 |
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Total Formula rate revenues |
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255,880 |
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246,739 |
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545,933 |
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507,168 |
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Market-based rates: |
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Energy revenues |
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29,102 |
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9,803 |
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52,906 |
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17,255 |
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Demand revenues |
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5,175 |
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2,689 |
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8,676 |
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3,974 |
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Total Market-based rates revenues |
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34,277 |
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12,492 |
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61,582 |
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21,229 |
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Total Member distribution cooperatives revenues |
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290,157 |
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259,231 |
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607,515 |
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528,397 |
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Non-members: |
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Energy revenues |
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10,136 |
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2,861 |
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15,302 |
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4,207 |
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Renewable energy credits |
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632 |
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519 |
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1,718 |
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1,491 |
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Total Non-members revenues |
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10,768 |
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3,380 |
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17,020 |
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5,698 |
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Total Operating revenues |
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$ |
300,925 |
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$ |
262,611 |
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$ |
624,535 |
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$ |
534,095 |
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