EPHRATA — Higher-than-anticipated revenue is projected to make 2024 a good year for the Grant County Public Utility District. 

Wholesale and contracted power sales are projected to end 2024 at $286.5 million, once the books are fully balanced. That's $196.3 million over the initial budget projection. Angelina Johnson, PUD deputy treasurer, said that may be a short-term advantage, though. 

“We’re seeing that the wholesale prices that we’ve enjoyed the last couple years, with the prices coming in as high as they have, is not going to continue,” Johnson said during a presentation to PUD commissioners.  

The PUD also received about $24.3 million in money paid by PUD customers for electrical system upgrades they need for their businesses. That was over the 2024 budget projection by about $12 million. The utility also makes longer-term sales to some customers, which are projected to end in 2024 at about $26.7 million. That, too, is over the budget projection by about $9.8 million. 

In contrast, retail sales to customers in Grant County didn’t meet budget projections. They are forecast at about $283.4 million, which is about 10% under the 2024 budget figure. 

Grant PUD Lead Financial Analyst Bryndon Ecklund said that was the result, in part, of additional information on projected demand, which turned out to be lower than anticipated when the 2024 budget was written. Utility district accountants have accounted for that difference when writing the 2025 budget, he said.  

“For 2025, the average megawatt load decreased about 20 average megawatts,” he said. 

About 5.5 average megawatts of that was the shutdown of REC Silicon in Moses Lake, Ecklund said. Other deferred projects are projected to be coming back by 2026. 

Expenses for operations and maintenance are projected to end the year slightly below the budget at about $198.04 million.  

Capital project expenses are projected to be slightly above the budget, about $174.7 million. That’s money spent for the distribution or work at Priest Rapids and Wanapum dams. The nature of the capital project spending is changing as the PUD approaches the end of a decades-long project to upgrade turbines and generators at the two dams. 

“A lot more of our efforts are going into the distribution system now,” Ecklund said.  

The PUD is adding to and upgrading its distribution system, which accounted for the bulk of capital spending, about $118.8 million. That includes a new power line between Wanapum Dam and Quincy, as well as a new substation near Royal City and a new transmission line to it. 

The PUD has about a 63% share of the power generated by the Priest Rapids and Wanapum dams and is projected to be using all, or almost all, of it by 2026. In light of that, Ecklund said PUD officials are studying ways to build additional generation or buy more power, or both. 

That will cost money, and Ecklund said accountants and financial staff are looking at changing the budget and financial forecasting to get a better idea of how those expenses will affect the PUD.