PGP's operations are not consolidated into the Gas Authority's financial statements but operations at PGP move with gas prices and the excess margins
are used to repay advances from the Gas Authority each year.
Reforms needed are not entirely aimed for the government to capture excess margins
as tax, but to forcibly push banks through policy to lend more liberally to physical-wealth-creating sectors-agriculture and industry.
He concluded that the profiteers will not be allowed to manipulate excess margins
by holding supplies to the market.
Investment income, which typically has been viewed as an important source of capital and an extra source of funding for various expenditures in a hospital's capital budget, now is being used to supplement cash generated from operations--as cash collections and excess margins
have been strained.
"The stable outlook reflects UMass Memorial's solid market position, strong volume increases, and its ability to improve its operating and excess margins
, as well as debt service coverage, at a time when many comparable hospitals are struggling to generate a positive bottom line," S&P wrote in its release.
Key measures to track include earnings before interest, taxes, depreciation, and amortization (EBITDA), the debt service coverage ratio, and operating and excess margins
"This flexibility would be equipped with excess margins
from the EU budget," explained the MEP.an
If distributors are efficient and enjoy high margins because of restrictions on competition, then excess margins produce rents, which are transfers, not deadweight loss.
For the main results, it is assumed that excess margins are half rents and half deadweight loss.
A far greater source of uncertainty stems from not knowing how much of the excess margins reflect rent transfers and how much reflect deadweight loss.
Likewise, excess margins
are regarded by Member States as a useful tool in focusing measures designed to improve air quality in the most polluted areas: these provisions will not therefore be modified.
Hillcrest continues to maintain consistent operations as demonstrated by its 101% operating ratio, 7.7% net operating margin (NOM) and 6.6% excess margins
on average over the last four fiscal years.