2024 G&T KPI Report Demonstrates Strength, Adaptability

CFC recently released its 2024 Generation and Transmission (G&T) Key Performance Indicators (KPI) Report, offering its G&T members a valuable resource for benchmarking and strategic planning. 

This year also marks the launch of KPI Pro, a new dashboard available on the CFC Member Website that allows members to explore over 15 years of KPI data with peer group comparisons. Accessible under the Financial Analysis tab, KPI Pro provides deeper insights into system performance and enhances members’ ability to track trends and make informed decisions.

Drawing from extensive member data, the KPI Report highlights sector-wide performance and evolving trends. 

“The 2024 results reflect the strength and adaptability of G&T cooperatives in a dynamic energy landscape,” CFC Senior Vice President of Strategic Services Amy Luongo said. 

Financial indicators from the report showed steady improvement across G&T cooperatives. The times interest earned ratio rose to 1.81, its highest level since 2019. Margin for interest continued its upward trend since 2021, reaching 1.73 in 2024—reflecting stronger earnings relative to interest obligations. Modified debt service coverage held at 1.3, consistent with long-term averages and indicating reliable debt service capacity. Equity as a percentage of assets increased to 27.13%, suggesting stronger capital positions. Return on equity remained solid at 5.94%, reflecting stable profitability despite market fluctuations.

Energy sales showed signs of recovery, with a 1.62% increase in 2024. Total sales reached approximately 5.38 million MWh, with the majority delivered to member systems. Residential demand continues to account for over half of total sales and usage levels have remained steady. Delivery efficiency remains high with nearly all available energy reaching end users.

The generation mix continued to evolve. Combined cycle and internal combustion sources expanded, indicating a move toward more flexible and efficient technologies. Fossil steam remains the dominant source, while hydro gained modest ground. Renewable generation showed little change, suggesting limited growth in that segment.

“With robust financial ratios and evolving generation strategies, the 2024 KPI Report offers valuable benchmarks for G&T cooperatives navigating a changing energy environment,” Luongo said. “CFC remains committed to supporting its members with data-driven tools and financial expertise to guide long-term planning and investment decisions.”