2018: A historic financial year at Great River Energy

Great River Energy recently closed the books on arguably the most financially successful year in its history.

Great River Energy’s initial margin calculation was $69.9 million, more than triple the budgeted margin of $23 million. In accordance with a board resolution passed late last year, excess margins above budget will be utilized and accounted for as follows:

  • $10 million refunded to member-owner cooperatives as a bill credit
  • $10 million deferred revenue to offset future rates
  • $25.8 million to write off non-productive assets on the balance sheet, which will benefit future rates

The final margin after these actions was $24.1 million for 2018. These numbers are a result of strong sales and cost control at Great River Energy. Year-end energy sales were 2.3 percent higher than budget.