We own Wildcat Point, a 973 MW (net capacity entitlement) natural gas-fueled combined cycle generation facility. Wildcat Point achieved commercial operation on April 17, 2018. In 2017, WOPC, a joint venture between PCL Industrial Construction Company and Sargent & Lundy, L.L.C., as EPC contractor, made a claim against Alstom and us for recovery of additional amounts under the EPC contract for Wildcat Point. Additionally, in 2017, we filed a complaint alleging that WOPC breached the EPC contract. Subsequently, the United States District Court for the Eastern District of Virginia ordered that the WOPC complaint against Alstom and us, our complaint against WOPC, and a separate complaint filed by WOPC against Mitsubishi, be consolidated. In December 2019, ODEC and WOPC held formal settlement discussions and we recognized the probable impact of the settlement as of December 31, 2019, resulting in a $29.6 million increase to property, plant, and equipment. On January 9, 2020, ODEC and WOPC settled their dispute and ODEC was dismissed as a party from the case.

We maintain a revolving credit facility to cover our short-term and medium-term funding needs that are not met by cash from operations or other available funds. Commitments under this syndicated credit agreement extend until February 28, 2025. Available funding under this facility totals $500 million through March 3, 2022, and $400 million from March 4, 2022 through February 28, 2025. As of September 30, 2020, we had no borrowings outstanding under this facility and had a $0.5 million letter of credit. As of December 31, 2019, we had $67.2 million in borrowings outstanding under this facility and a $0.5 million letter of credit.

For purposes of our Condensed Consolidated Statements of Cash Flows, we consider all unrestricted highly liquid debt instruments purchased with an original maturity of three months or less to be cash equivalents.

The following table provides a reconciliation of cash and cash equivalents and restricted cash and cash equivalents reported within our Condensed Consolidated Balance Sheets that sum to the total of the same amounts shown in our Condensed Consolidated Statements of Cash Flows:

Restricted cash and cash equivalents related to funds held in escrow for payments related to the construction of Wildcat Point and in July 2020, the funds were released and paid to the contractors.

Our operating revenues are derived from sales of power and renewable energy credits to our member distribution cooperatives and non-members. We supply power requirements (energy and demand) to our eleven member distribution cooperatives subject to substantially identical wholesale power contracts with each of them. We bill our member distribution cooperatives monthly and each member distribution cooperative is required to pay us monthly for power furnished under its wholesale power contract. We transfer control of the electricity over time and our member distribution cooperatives simultaneously receive and consume the benefits of the electricity. The amount we invoice our member distribution cooperatives on a monthly basis corresponds directly to the value to the member distribution cooperatives of our performance, which is determined by our formula rate included in the wholesale power contract. We sell excess energy and renewable energy credits to non-members at prevailing market prices as control is transferred.

We sell excess purchased and generated energy to PJM, TEC, or third parties. Sales to TEC consist of sales of excess energy that we do not need to meet the actual needs of our member distribution cooperatives. TEC’s sales to third parties are reflected as non-member revenues. For the three and nine months ended September 30, 2020 and 2019, we had no sales to TEC and TEC had no sales to third parties.

Our operating revenues for the three and nine months ended September 30, 2020 and 2019, were as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
	(in thousands)
Member distribution cooperatives
Sales to member distribution cooperatives, excluding renewable energy credit sales	$	201,620	$	237,661	$	589,648	$	678,789
Renewable energy credit sales to member distribution cooperatives		13		4		26		21
Total sales to member distribution cooperatives	$	201,633	$	237,665	$	589,674	$	678,810

Non-members
Sales to non-members, excluding renewable energy credit sales	$	9,314	$	11,812	$	19,477	$	25,011
Renewable energy credit sales to non-members		5,334		3,252		5,438		4,672
Total sales to non-members	$	14,648	$	15,064	$	24,915	$	29,683

Total operating revenues	$	216,281	$	252,729	$	614,589	$	708,493

On April 12, 2020, the governor of Virginia signed legislation that requires that all investor-owned utility generating facilities that emit CO₂ as a by-product of combustion cease commercial operation by December 31, 2045. This includes the Clover generation facility, which we co-own with Virginia Power, an investor-owned utility. However, if the reliability or security of providing electric service to customers is threatened, a petition may be made by Virginia Power to the Virginia State Corporation Commission requesting relief from the closure requirement. Clover’s current depreciation rates are based on a useful life through 2050 and due to the uncertainty of the reliability requirements in the future, we have concluded that a change in useful life is not necessary at this time. For further discussion of Virginia CO₂Regulation, see “Regulation—Virginia CO₂Regulation” in Part 1, Item 1 Business of our 2019 Annual Report on Form 10-K.