Keeping energy reliable, affordable for all
Electric cooperatives serve an average of seven customers per mile of power line compared with 35 for investor-owned utilities and 47 for municipal utilities – yet co-ops continue to provide reliable and affordable electricity. Despite some inherent disadvantages, electric cooperatives have remained competitive with other utilities for 75 years.
All electric utilities are facing economic challenges, and Great River Energy and its members are prepared to weather difficult times due to their collective financial strength and the resilience of the cooperative business model.
Great River Energy has remained financially sound by delivering reliable wholesale power to its member cooperatives while maintaining strong credit ratings and meeting financial metrics.
As Great River Energy has responded to an evolving economic climate, the company has changed its vision to reflect its most basic motivation: keep cooperative energy competitive.
That means Great River Energy will continue to work with members to ensure that anyone, anywhere can get reliable electricity at a fair price.
Great River Energy continues to seek innovative ways to become more efficient in its operations. Employees are encouraged to look for ways to enhance operations as part of Great River Energy’s business improvement program. A business improvement can be the result of a process change, cost reduction, revenue enhancement, environmental improvement, safety enhancement or reliability improvement. Business improvements have resulted in approximately $67 million in cost savings over the life of the program.
The DryFiningTM system at the Coal Creek Station power plant refines lignite coal for combustion in the plant, which leads to lower emissions and reduced fuel needs.
A new corn drying facility, in which Great River Energy is a partner, generates income through drying operations and helps save costs at Great River Energy’s Blue Flint Ethanol facility by securing favorable pricing on the local corn supply and reducing transportation costs.
The continued strength of Great River Energy and its member cooperatives despite these difficult economic times proves that the cooperative business model works.
The current economic climate is presenting challenges, but Great River Energy is adapting and collaborating to do what it has always done: deliver reliable and affordable power.
Find more news by reading the April edition of Great River News.
