.jpg)
In spite of rising costs for electrical distribution materials, Lake Country Power is not adjusting its electricity rates to the rural cooperative’s members in 2024.
That’s the message Lake Country Power General Manager Mark Bakk delivered to members of the cooperative at its annual meeting. Bakk said that although material costs have stabilized, costs remain 70 percent higher than pre-pandemic levels.
Lead times for obtaining materials remains delayed by months or years, he said.
“These challenges have forced Lake Country Power to plan projects up to three years in advance,” Bakk said in a news release.
Bakk said that additional in-house crews at the cooperative are bringing value as it’s become hard to find contractors available to work. The contractors that are available to work, are costly, Bakk said.
The in-house crews are helping the cooperative save money on construction projects along with age-related electrical power line replacement and right-of-way clearing, Bakk said.
Legislative and regulatory actions within the state was also a topic.
“We take the affordability and reliability of your electric service very seriously and we will continue to advocate for you, our members, at the State Capitol in St. Paul,” Bakk said.
Great River Energy, which supplies wholesale electricity to Lake Country Power, presented power supply transition efforts to meet state mandates, regional transmission investments and other 2023 accomplishments.
Great River Energy reported replacing 55 miles of transmission power every year.
Plans are for Great River Energy to increase the amount of transmission power replacement, according to the news release.
Over the last five years, Great River Energy said it’s invested $8.2 million in Lake Country Power’s service area for age, condition and rebuilds and will invest another $40.5 million in the next five years, according to the news release.
A special Lake Country Power presentation at the meeting recognized seven school districts within Lake Country Power’s service area which received funding from the cooperative’s Education Improvement Program.
The program is funded by abandoned and unclaimed capital from previous Lake Country Power members who cannot be located, according to Lake Country Power.
Lake Country Power Board of Directors voting results were also announced at the meeting.
Directors elected are: Jason Long of Cook, Robert Bruckbauer of Remer and Larry Anderson of Esko.
Cooperative members who attended the meeting donated 25 pounds of food and $63 to the Quad City Food Shelf, according to Lake Country Power.
More than 300 Lake Country Power members attended the meeting at Merritt Elementary School in Mountain Iron.
Lake Country Power is geographically Minnesota’s largest electric cooperative.
Lake Country Power territory is 10,872 squaremiles with more than 8,200 miles of distribution lines.
The cooperative has service centers in Mountain Iron, Cohasset and Kettle River.
Outposts are at Cook, Ely, McGregor, Remer, and Saginaw.
