Message To Our Members

Mylo Einarson
President & CEO

As we reflect on the past year, we are pleased to share with you that despite encountering a few challenges, Nodak Electric Cooperative had another great year. Our unwavering commitment to providing reliable and affordable electric service remains at the forefront, and we are proud to serve you, our valued member-owners.

Financial stability and investments

In 2023, Nodak Electric continued to maintain robust financial stability. Despite the hurdles posed by rising costs and supply chain complexities, we diligently managed our resources. We concluded the year with a healthy $6.3 million margin, added 242 new metered services, installed 206 miles of new underground cable, and maintained our stable cash position. Our strategic investments in modernizing the distribution system, enhancing reliability, and fortifying cybersecurity have positioned us well for the future.

Luther Meberg

Community engagement

Our cooperative thrives because of our engaged and supportive members. Our commitment to community extends beyond providing electricity; it’s about building relationships and supporting local initiatives. Some of the highlights of our community involvement include providing scholarships for lineworker training in North Dakota, donating almost $50,000 to community members and organizations through our Operation Round Up® program, providing grants to community projects, sponsoring a Youth Tour to Washington D.C., and much more.

Reliability and resilience

Our lineworkers and staff worked tirelessly to maintain reliable service, especially during extreme weather events. We invested in distribution system improvements, rigorous tree trimming, and efficient storm response protocols. Our goal is to minimize disruptions and keep the lights on for our members.

Rate outlook

Once again, we are pleased to report that our retail electric rates remained unchanged throughout 2023. Despite significant increases in wholesale material costs, we’ve successfully held our rates steady since 2017. Looking ahead, I’m thrilled to share that no general rate increase is planned for 2024. This achievement is truly remarkable when you consider the dynamic landscape of our industry. We are not immune to the inflationary pressures of raw materials, fuel and equipment, but our steady growth has provided the revenue necessary to hold our rates flat for seven years. We’re hard pressed to think of something else we buy today that costs the same as it did seven years ago.

Member participation

Thank you for participating in our annual meeting and exercising your cooperative voice. Your input shapes our decisions, and we appreciate your active involvement. Together, we ensure that Nodak Electric Cooperative remains member-driven.

Looking ahead

As we move forward, we remain committed to innovation, reliability, and serving our members. We will continue to explore new technologies, enhance our services, and adapt to the changing energy landscape.

Thank you for your trust and support. It is an honor to serve you and we look forward to another year of being part of the Nodak Electric Cooperative family.