Dakota Electric Association’s wholesale power supplier, Great River Energy, finished 2019 with great news related to refunds, rates and environmental stewardship.
Refunds & Rates
Savings from controlling costs and strong electricity sales led Great River Energy’s board of directors to approve a year-end refund of $5 million to its 28 member cooperatives. Dakota Electric received more than $880,000 allowing the co-op to offset some costs that make up the monthly Resource and Tax Adjustment on members’ bills (page 7). Great River Energy’s board also approved the 2020 budget and a 10-year budget projection plan showing flat or minimal increases for the next decade.
Additionally, Great River Energy is continuing to give cash back to its member cooperatives in the form of capital credits. Dakota Electric received $1.2 million in 2019 and will receive nearly $500,000 in 2020. This credit is included in the capital credit payout to Dakota Electric members. A credit of $3.5 million is expected to be returned to members in 2020.
Great River Energy is committed to more renewable energy and lowering emissions. Over the last five years, Great River Energy eliminated three power plants from its generation portfolio, increasing its amount of renewable energy and reducing its carbon emissions significantly. More wind energy is also being added to its diverse energy mix over the next few years.
Today, Great River Energy has over 30% renewables in its mix of energy sources and is working toward 50% by 2030. The organization is committed to Minnesota’s legislative goal of 80% carbon-free by 2050.
Dakota Electric is proud of the work Great River Energy is accomplishing and pleased that two of its board directors represent the Dakota Electric’s membership on Great River Energy’s board.