Great River Energy rate hike expected

Customers of Great River Energy will soon pay more for their electricity. The Associated Press reports that the company’s Board of Directors approved an average 4 percent increase for its 28 local power cooperatives. A typical residential customer can expect to pay an additional $2 to $3 a month.
Author:
Updated:
Original:

Customers of Great River Energy will soon pay more for their electricity.

The Associated Press reports that the company's Board of Directors approved an average 4 percent increase for its 28 local power cooperatives. A typical residential customer can expect to pay an additional $2 to $3 a month.

Based in Maple Grove, Great River Energy is Minnesota’s second-largest electricity producer, with 645,000 customers.

Chief financial officer Larry Schmid cited several reasons for the hike. He said maintenance at two coal-fired power plants in North Dakota is estimated to cost $30 million. He also blamed a drop in a demand for power.

That's the same reason cited by Xcel Energy earlier this month. The Star Tribune reported that Xcel, Minnesota's largest producer of electricity, would be asking the Public Utilities Commission for permission to raise rates by ten percent.

Next Up

Screen Shot 2021-01-18 at 3.17.49 PM

No KAT? No D'Lo? No problem as Timberwolves defeat Pelicans

The Timberwolves were without Karl-Anthony Towns and D'Angelo Russell, but still picked up a (SCORE) win.

Screen Shot 2021-01-23 at 7.53.44 PM

Spinouts, crashes across Twin Cities as snow gets heavier

There have been multiple incidents across the metro area.

Mason Branstrator

Family, friends raising funds for teen soccer standout with spinal injury

Mason Branstrator of Duluth was injured in a skiing accident.

Screen Shot 2021-01-22 at 9.08.16 PM

Tributes pour in after MN Supreme Court justice's daughter found dead

Olivia Chutich died near the campus of Iowa State University.

Image from iOS (96)

Early Saturday fire damages Burger King in Richfield

The fire was reported around 1:15 a.m. Saturday.

Jamal Mashburn Jr. / Gopher Basketball

Maryland hands Gophers first home loss of season

The 17th-ranked Gophers fell to the Terrapins 63-49 on Saturday afternoon.

Alibi Drinkery in Lakeville.

Minnesota Department of Health files lawsuit against Alibi Drinkery

The Lakeville bar has been in the news for defying orders.

Iron Tap snowmobile delivery

This MN restaurant will deliver to your ice house... on a snowmobile

Just in case you work up an appetite fishing on Lake Waconia.

Klobuchar and Trump

Klobuchar reacts to report Trump plotted against his attorney general

The NYT story alleges further tactics to overturn the election.

Related

Xcel Energy significantly reduces proposed rate hike

The deal still needs approval by the state Public Utilities Commission. If approved, the average Xcel residential customer would see a 2.7 percent rate increase -- or an additional $2.30 a month.