Retail electric rate increase.
By Mylo Einarson, President & CEO
At Nodak Electric Cooperative, our mission is to provide you, our members, with safe, reliable, and affordable electric service. For many years, we’ve been proud to hold the line on electric rates, avoiding increases even as inflation and market volatility placed pressure on nearly every sector of the economy. However, after eight years of stable rates, the time has come when we must make a necessary adjustment.
Beginning June 1, retail electric rates will increase by slightly over 10%. This decision was not made lightly, and I want to be transparent about the reasons behind it.
Why now?
Several factors have combined to increase the cost of providing electric service:
1. Increased Wholesale Power Costs: A large portion of your electric bill, about 84%, goes toward the cost of power we purchase from our wholesale power supplier. While we work closely with Minnkota Power Cooperative to ensure stability, the cost of generating and transmitting power has gone up due to fuel prices, compliance costs and supply chain disruptions.
2. Inflation and Rising Operational Costs: Like households and businesses across the country, we are paying more for just about everything — materials, equipment, fuel, and labor. Transformers and underground cable, for example, have increased in cost by as much as 30% in recent years. Our lineworkers and staff work hard to maintain and improve our electric system, and competitive wages are necessary to retain skilled employees in today’s workforce.
3. System Investments and Reliability: Providing you with reliable service means continuously investing in our infrastructure. Whether it’s replacing aging lines, preparing for extreme weather, or upgrading technology, these projects ensure your power stays on. These proactive investments help us avoid larger costs down the road.
What it means for you
The average residential member will see an increase of approximately $13-$15 per month, depending on energy usage. While any increase is difficult, we have worked hard to keep the adjustment as modest as possible.
We’ve also taken steps to reduce costs internally before passing any burden on to our members. From streamlining operations to improving efficiency through technology, we continually look for ways to do more with less.
Help is available
We understand that rising costs can be difficult for families and businesses. That’s why we offer a range of programs to help manage your energy use and control your bill:
• Budget billing to even out monthly payments
• Energy efficiency rebates to lower usage
• Load management programs for off-peak savings
• Energy assistance resources for those in need
If you have questions or concerns about your bill or this rate change, please don’t hesitate to contact our office.
We are here to help.
Moving forward — together
As a not-for-profit cooperative, Nodak does not raise rates to generate profits. Every dollar we collect goes directly into operating, maintaining, and improving your electric system. Our goal is always to deliver the best value for your energy dollar.
We remain committed to transparency, accountability, and service to our members. Thank you for your understanding, your trust, and your continued support as we power through these challenges together.