system energy may refinance , redeem , or otherwise retire debt prior to maturity , to the extent market conditions and interest and dividend rates are favorable .all debt and common stock issuances by system energy require prior regulatory approval . a0 a0debt issuances are also subject to issuance tests set forth in its bond indentures and other agreements . a0 a0system energy has sufficient capacity under these tests to meet its foreseeable capital needs .system energy 2019s receivables from the money pool were as follows as of december 31 for each of the following years. .
[['2017', '2016', '2015', '2014'], ['( in thousands )', '( in thousands )', '( in thousands )', '( in thousands )'], ['$ 111667', '$ 33809', '$ 39926', '$ 2373']]
see note 4 to the financial statements for a description of the money pool .the system energy nuclear fuel company variable interest entity has a credit facility in the amount of $ 120 million scheduled to expire in may 2019 .as of december 31 , 2017 , $ 17.8 million in letters of credit to support a like amount of commercial paper issued and $ 50 million in loans were outstanding under the system energy nuclear fuel company variable interest entity credit facility .see note 4 to the financial statements for additional discussion of the variable interest entity credit facility .system energy obtained authorizations from the ferc through october 2019 for the following : 2022 short-term borrowings not to exceed an aggregate amount of $ 200 million at any time outstanding ; 2022 long-term borrowings and security issuances ; and 2022 long-term borrowings by its nuclear fuel company variable interest entity .see note 4 to the financial statements for further discussion of system energy 2019s short-term borrowing limits .system energy resources , inc .management 2019s financial discussion and analysis federal regulation see the 201crate , cost-recovery , and other regulation 2013 federal regulation 201d section of entergy corporation and subsidiaries management 2019s financial discussion and analysis and note 2 to the financial statements for a discussion of federal regulation .complaint against system energy in january 2017 the apsc and mpsc filed a complaint with the ferc against system energy .the complaint seeks a reduction in the return on equity component of the unit power sales agreement pursuant to which system energy sells its grand gulf capacity and energy to entergy arkansas , entergy louisiana , entergy mississippi , and entergy new orleans .entergy arkansas also sells some of its grand gulf capacity and energy to entergy louisiana , entergy mississippi , and entergy new orleans under separate agreements .the current return on equity under the unit power sales agreement is 10.94% ( 10.94 % ) .the complaint alleges that the return on equity is unjust and unreasonable because current capital market and other considerations indicate that it is excessive .the complaint requests the ferc to institute proceedings to investigate the return on equity and establish a lower return on equity , and also requests that the ferc establish january 23 , 2017 as a refund effective date .the complaint includes return on equity analysis that purports to establish that the range of reasonable return on equity for system energy is between 8.37% ( 8.37 % ) and 8.67% ( 8.67 % ) .system energy answered the complaint in february 2017 and disputes that a return on equity of 8.37% ( 8.37 % ) to 8.67% ( 8.67 % ) is just and reasonable .the lpsc and the city council intervened in the proceeding expressing support for the complaint .system energy is recording a provision against revenue for the potential outcome of this proceeding .in september 2017 the ferc established a refund effective date of january 23 , 2017 , consolidated the return on equity complaint with the proceeding described in unit power sales agreement below , and directed the parties to engage in settlement .

Question: as of december 31 , 2017 what was the percent of the system energy credit facility utilization
Answer: 56.7%