At the close of a very successful 2019, Great River Energy issued a refund to its member-owner cooperatives.
Great River Energy far exceeded its 2019 margin goal, which allowed the cooperative to pay down future financial obligations and send $5 million to its member-owner cooperatives.
“The success of 2019 will benefit members immediately through a refund and over the long term by actions taken to strengthen our balance sheet,” said Great River Energy Vice President and Chief Financial Officer Michelle Strobel.
This is the third consecutive year Great River Energy has issued a refund to member-owner cooperatives. The cooperative has seen financial benefits from recent strategic decisions, particularly modifications to its power supply portfolio.
The refund was apportioned among Great River Energy’s 28 member-owner cooperatives and returned through power bills.
“When we have financial success, everyone benefits,” Strobel said. “We are working hard to keep costs competitive for members.”