The Lower Colorado River Authority provides a multitude of vital services to Texans. Whether it's contributing reliable power to the Electric Reliability Council of Texas market, making sure power is delivered through the roughly 5,200 miles of transmission lines we operate, or working to increase and preserve the water supply for more than a million people, LCRA's mission is to enhance the quality of life of the Texans we serve.
LCRA, established by the Texas legislature in 1934, is a unique, nonprofit political subdivision of the state. LCRA receives no state tax revenues, but operates by selling electricity, electric transmission and water services. It does not levy taxes or receive specific appropriations from the government. As a conservation and reclamation district of the state of Texas, it is generally exempt from paying taxes, though its nonprofit corporations,
LCRA Transmission Services Corporation and
GenTex Power Corporation, pay property and sales taxes.
fiscal year 2017 business and capital plans, LCRA projects total net revenues of $849.8 million for its 2017 fiscal year beginning July 1, 2016, mostly from its electric operations: wholesale power (47 percent) and transmission (47 percent). The FY 2017 business plan projects total net expenses during the same period will be $445.9 million. About 34 percent of that amount, roughly $153 million, will pay for natural gas, coal, renewable energy and purchased power to provide electricity for LCRA's wholesale electric customers. The remainder will pay for LCRA's power plant, transmission, dam and parks operations, plus river and water supply management, water operations and community development services.
fiscal year 2016 financial statements, LCRA's total assets and deferred outflow of resources were $5.6 billion as of June 30, 2016. Capital assets accounted for $4.1 billion, or 73 percent of total assets and deferred outflow of resources. Operating revenues were $1 billion for the year ended June 30, 2016.
Reinvesting in communities
Each year, LCRA reinvests a portion of water and electric revenues into communities through direct services and grants. These services include
public safety and environmental protection. LCRA and its customers provide
grants for community development purposes.
Wholesale rates for electricity are set by LCRA's
Board of Directors.
The Public Utility Commission of Texas approves transmission rates.
LCRA had an outstanding debt of about $3.8 billion as of June 30, 2016. LCRA maintains creditworthy ratings from Fitch Ratings, Moody's Investors Service and Standard & Poor's on long- and short-term debt.