It is to be noted that in 1924, 75,312,394 kilowatt-hours, or 11.45 percent of the total kilowatt-hours sold, were sold to 111,926 residential consumers, and that the revenue derived from these sales amounted to $2,825,000, or 29.69 percent of all electric revenues received. The average revenue [199] per kilowatt-hour was 3.75 cents, and the average consumption per customer was 673 kilowatt-hours. From 1924 to 1931 the number of customers, kilowatt-hours sold, revenue received therefor and average consumption per customer increased consistently from year to year so that in 1931, 124,044,921 kilowatt-hours, or 13.24 percent of the total kilowatt-hours sold, were sold to 147,356 residential consumers and the revenue derived from these sales was $4,134,832, or 28.21 percent of all electric revenues received. The average consumption per customer was 842 kilowatthours. Concurrently, the revenue per kilowatt-hour consistently decreased, with the sole exception of the year 1927, so that in 1931 the average revenue received per kilowatt-hour was 3.33 cents.

These consistent increases between 1924 and 1931, when stated in percentage relation of the 1931 figures to those of 1924, were:

It is to be noted that though these increases occurred, the kilowatt-hours sold and the revenues received in each year in relation to the total for all classes remained somewhat constant, the maximum variation being only 2.17 percent in the case of kilowatt-hours sold and 2.11 percent in the case of revenue received. [200] Electric revenues-Commercial light, heat, and power service, $30,170,705.— Commercial users of electric energy ranked second as to quantity and first as to revenue produced for the combined years 1924 to 1931, inclusive. During the period under review, revenues from this class of purchasers amounted to $30,170,705, which was 30.44 percent of the total revenues received from electric operations. This was received for 1,638,686,586 kilowatt-hours of electric energy, or 23.38 percent of the total energy sold. The average revenue per kilowatt-hour of energy sold in the entire period was 1.84 cents.

A detailed tabulation of statistical data relating to sales to this class of service is set forth below.

In 1924, 158,958,633 kilowatt-hours of electric energy, or 24.16 percent of the total kilowatt-hours sold, were sold to 19,463 commercial consumers, and for this energy $3,036,588, or 31.93 percent of the total revenue, was received. The average revenue received per kilowatt-hour in [201] 1924 was 1.91 cents and the average consumption per customer was 7,706 kilowatt-hours.

This class of service increased each successive year from 1924 to 1929, inclusive, so that during 1929, 236,588,098 kilowatt-hours, or 23.09 percent of the total kilowatt-hours sold, were sold to 22,024 consumers and the yield from such sales aggregated $4,286,337, or 30.55 percent of the total revenue. The average revenue per kilowatt-hour has varied throughout the years and ranged from 1.75 cents per kilowatt-hour in 1926 to 1.95 cents in 1931. The average consumption per customer increased from 7,706 kilowatt-hours in 1924 to 9.960 kilowatt-hours

in 1928. A material reduction is noticed in 1929. These increases when stated in percentage relation of the 1929 figures to those of 1924 were:

In 1931 this class of service consumed 216,493,012 kilowatt-hours, or 23.11 percent of the total sold and the revenue received from this source amounted to $4,214,416, or 28.76 percent of the total electric revenues. The average revenue per kilowatt-hour in 1931 was 1.95 cents and the average consumption per customer was 9,854 kilowatt-hours.

[202] Electrical revenues-Industrial light, heat, and power service, $28,204,427.— Industrial users of electric energy ranked first as to quantity and second as to revenue produced for the combined years 1924 to 1931, inclusive. During this period, revenues from this class of purchasers amounted to $28,204,427, or 28.46 pereent of the total revenues received from electric operations. This was received for 3,705,827,024 kilowatt-hours of electric energy, or 52.88 percent of the total electric energy sold. The average revenue per kilowatt-hour for this class of service, for the combined years 1924 to 1931, inclusive, was 76 cents.

A detailed tabulation of statistical data relating to sales to this class of service is set forth below:

In 1924, 331,398,219 kilowatt-hours of electric energy, or 50.38 percent of the total kilowatt-hours sold, were sold to 427 industrial consumers. For this energy, $2,597,265 was received and this represented 27.30 percent of the total revenues from electric operations. The aver [203] age revenue received per kilowatt-hour in 1924 was 78 cents.

This class of service increased materially in each successive year from 1924 to 1929. The increase in 1929 over 1924 amounted to 74.1 percent in kilowatthours sold and 64 percent in revenue received therefor. The average quantity used per customer increased 53.3 percent, or from 776,108 in 1924 to 1,189,909 in 1929. Thereafter, through 1931 a perceptible falling off is noticed in number of consumers, kilowatt-hours sold, revenue received, and average consumption.

During 1931, 464,267,121 kilowatt-hours were sold to industrial consumers. This constitutes 49.56 percent of the total kilowatt-hours sold during the year and represents a reduction of 19.6 percent from the peak figure of 1929. For these sales, $3,551,573 was received which represented 24.23 percent of the total revenues received from electric operations for the year and a reduction of 16.6 percent in the peak figure of 1929. The revenue per kilowatt-hour for the year 1931 was 76 cents.

For each of the years during the period under review, the number of industrial consumers served was:

[204] Of these numbers of consumers, the aggregate purchases of the 9 largest and the revenue therefrom for each of the years 1924 to 1931, inclusive, are shown in the tabular statement following, together with the percent relation of the quantity taken and the revenue produced by these 9 to the quantity taken and the revenue produced by all industrial consumers and by all classes of consumers combined.

Energy sales to 9 largest industrial customers and their relation to total industrial and total all sales

[205] The foregoing statement shows that during the years 1924 to 1931, inclusive, the nine purchasers of the largest quantity of electric energy, representing approximately 2 percent of the total number of industrial purchasers in each of those years, consumed a range of from 43.3 to 52.6 percent of the energy sold to all industrial consumers, or 21.5 to 27.9 percent of that sold to all classes of service. The purchases of these same nine consumers for the combined years 1924 to 1931, inclusive, represented 47.4 percent of the combined sales to all industrial purchasers during the period and 25.1 percent of the combined sales to all classes of purchasers.

It further shows that the purchases of these nine largest consumers produced revenue in each of the years ranging from 36.6 to 43.7 percent of the revenue derived from sales to all industrial consumers, or 8.9 to 13 percent of the revenue derived from sales to all classes of service. For the combined years 1924 to 1931, inclusive, these same nine consumers produced 40 percent of the revenue derived from sales to all industrial consumers and 11.4 percent of the revenue from all classes of consumers.

The quantities sold and the revenues derived from sales to each of these larger industrial purchasers and the average revenue per kilowatt-hour received therefor for each of the years 1924 to 1931, inclusive, are presented in the following table. It should be explained that this table records the nine companies purchasing the largest quantity of electric energy in any one year and the purchasers are not necessarily common to all years. Thus, 12 different companies appear amongst a list of the 9 largest purchasers in each of the years 1924 to 1931, inclusive, and the fact that companies appearing in this table show no purchases for some of the years does not indicate that purchases were not made in those years, but rather that the quantity purchased did not place that company amongst the 9 largest purchasers in those years.

[206] TABLE 25.-Ten largest purchasers of electric energy from Buffalo General Electric Co. embracing the nine largest industrial purchasers, giving, by purchasing companies, by years, the quantity sold to each, the total revenue and revenue per kilowatt-hour derived therefrom and the percent of total sales taken

TABLE 25-Ten largest purchasers of electric energy from Buffalo General Electric Co. embracing the nine largest industrial purchasers, giving, by purchasing companies, by years, the quantity sold to each, the total revenue and revenue per kilowatt-hour derived therefrom, and the percent of total sales taken-—Continued