Capital Improvement Projects ( CIP) Expenditures

Capital improvement expenditures include upgrades to the Distribution and Transmission system such as new substations and transformers. They also include expenditures to build or upgrade power plants, new or upgraded chillers, new or upgraded facilities, and information technology infrastructure. All of these expenditures result in assets for the utility that become part of the rate base. Funding for CIP projects includes both current revenue and short-term debt or commercial paper which is eventually rolled into long-term bonds with a life of 30 years.

资本性改善支出包括对配电和输电系统的升级，如新建变电站和变压器。此外，还包括建设或升级发电厂、新增或升级冷却器、新增或升级设施以及信息技术基础设施的支出。所有这些支出均导致公用事业资产的形成，成为计费基础的一部分。CIP项目的资金包括当前收入和短期债务或商业票据，这些最终将转化为寿命为30年的长期债券。