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Old Dominion Electric Q1 revenues down YOY

Old Dominion ElectricCooperative booked $256.5 million in first-quarter 2016 operating revenues,down from $292.3 million in the opening months of 2015.

Its first-quarter 2016 operating margin dropped to $12.2 millionfrom $15.2 million in the corresponding quarter of 2015 while net margin attributableto Old Dominion Electric was largely flat year over year at $3.0 million duringthe first three months of 2016, according to a Form 10-Q filed May 10.

The cooperative reported patronage capital of $393.9 millionfor the three months ended March 31, 2016, up from $382.0 million in the comparablequarter of 2015. Its operating expenses were down to $244.2 million during the 2016first quarter from $277.1 million in the comparable period of 2015, results showed.