Wind farms produce electricity when it’s breezy. Solar panels generate energy during the day. Low-cost, long-duration storage has the potential to serve cooperative members when the wind isn’t blowing and the sun isn’t shining. A Great River Energy pilot project has the potential to solve the challenges posed by the variable nature of the most […]
Great River Energy’s employees have successfully served its 28 member-owner cooperatives throughout the pandemic. Nearly half of the cooperative’s employees have continued reporting to their work locations to ensure reliable electricity keeps flowing to member-owners, while the other half have worked remotely since March 12 as a result of the coronavirus. “Great River Energy is […]
Moody’s Investors Service recently upgraded Great River Energy’s credit rating to A3 with a stable outlook. In its report, Moody’s commented that Great River Energy’s power supply plans and projected rate reductions stand to improve the cooperative’s credit and risk profile. Great River Energy announced plans May 7 to retire the 1,151-megawatt (MW) Coal Creek […]
Great River Energy plans to replace coal with low cost renewables and market energy purchases Great River Energy announced plans today to transform its portfolio of power supply resources in the coming years, significantly reducing member-owner wholesale power costs. The electric cooperative plans to phase out remaining coal resources, add significant renewable energy and explore […]
As government officials at the state and federal levels begin to lift restrictions and turn their attention to re-opening businesses, Great River Energy and electric utilities everywhere are beginning to discuss how they will approach returning to more normal business operations. Since March 12, all Great River Energy employees who can reasonably work from home […]
Extraordinary times and extraordinary measures – these are the kinds of scenarios that people who manage risk for electric cooperatives think long and hard about year in and year out, even when things are going smoothly. This kind of thinking is what prepared Great River Energy to continue reliable service when the coronavirus (COVID-19) pandemic […]
Every year, Great River Energy provides member-owners and other stakeholders a detailed report of the prior year’s financial and operational results. Great River Energy’s 2019 Annual Report includes company performance and outlines company leaders’ expectations for the future. The Great River Energy 2019 Annual Report is available here.
Although the coronavirus pandemic prevented Great River Energy’s stakeholders from their traditional in-person gathering in 2020, Great River Energy completed its cooperative duty by holding elections and disclosing financial and operational information. “Our first priority is keeping our stakeholders safe and healthy, but our obligation to member-owners remains,” said Great River Energy President and Chief […]
When member-owner cooperatives have positive financial results, they return cash to their members. When Great River Energy’s financial position is strong, it issues payments to the 28 cooperatives that own its company. For the second time in its history, Great River Energy retired patronage capital through cash payments to its 28 member-owner cooperatives. In all, […]
Great River Energy’s board of directors earlier this month allocated funds to assist its 28 member-owner cooperatives with financial challenges related to the coronavirus pandemic. The cooperative allocated $3 million to assist its member-owners with unforeseen expenses, such as missed payments and forgiven late fees. “This demonstrates why 28 cooperatives benefit by being united as […]