As treasurer for Nodak Electric Cooperative, on behalf of all the directors and employees of Nodak, thank you for your membership in the cooperative this past year.

An all-time high revenue value highlighted the 2022 financials amounting to $142.5 million. The additional revenue received was a result of a full year’s operation of the new data centers that we serve. Nearly 2.1 billion kWh were sold this past year, another record setter. Total expenses were $138 million, the largest expense being wholesale power costs at $121 million. Stable power costs by our wholesale power supplier contribute greatly to our stable retail rates, and we are hopeful that trend continues into the future. Additionally, non-operating margins added $2.4 million; with the largest addition to non-operating margins being a capital credit allocation from our power supplier. Total reported margins were $6.9 million for 2022. Last May’s capital credit retirement amounted to $3.8 million – which again was another retirement record.

Thank you again for your patronage and for allowing us to serve your electricity needs during the past year.