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Serving our members with sound finances

Great River Energy is an electric cooperative – or a private not-for-profit electric utility business. We are owned by our member cooperatives, which established Great River Energy to provide them at-cost electric service. As a result, Great River Energy does not sell shares of stock to outside investors.


Our revenues are primarily derived from the sale of power to Great River Energy member systems and power sales to other utilities in the region under long-term contracts and spot-sale arrangements.

We have long-term wholesale power contracts with all of our member cooperatives. Power is provided to members at rates determined by Great River Energy’s board of directors. Our board of directors consists of representatives from our member cooperatives. Rates to members are designed to recover all costs and to provide margins sufficient to meet established financial goals.

View our financial documents (requires Adobe Reader):
Great River Energy’s 2013 Annual Report  »
Great River Energy's 2013 Third Quarter Financials  »
Great River Energy's 2013 Second Quarter Financials  »
Great River Energy's 2013 First Quarter Financials  »
Great River Energy’s 2012 Annual Report  »
Great River Energy's 2012 Third Quarter Financials  »
Great River Energy's 2012 Second Quarter Financials  »
Great River Energy's 2012 First Quarter Financials  »
Great River Energy’s 2011 Annual Report  »
Great River Energy’s 2011 Audited Financial Statements  »
Great River Energy's 2011 Third Quarter Financials  »
Great River Energy's 2011 Second Quarter Financials  »
Great River Energy's 2011 First Quarter Financials  »
Great River Energy’s 2010 Annual Report  »
Great River Energy’s 2010 Third Quarter Financials  »
Great River Energy's 2010 Second Quarter Financials  »
Great River Energy's 2010 First Quarter Financials  »
Great River Energy’s 2009 Annual Report  »
Great River Energy’s 2009 Audited Financial Statements  »
Great River Energy’s 2008 Annual Report  »
Great River Energy’s 2008 Audited Financial Statements  »
Great River Energy’s 2007 Annual Report  »
Memorandum of insurance  »
  »

2013 Great River Energy financial highlights

(Dollars in millions)

2013

2012

Change

Operations
     

Revenues

$980.4

$921.2

$59.2

Purchased Power

$196.4

$167.8

$28.6

Fuel

$225.7

$217.9

$7.8

Other Operating Expenses

$279.9

$250.4

$29.5

Depreciation and Amortization

$115.6

$100.5

$15.1

Interest Expense

$134.1

$143.8

$(9.7)

Other Income

$3.4

$4.5

$(1.1)

Nonutility Operations, Excluding
Variable Interest Entity

$10.7

$0.1

$10.6

Net Margin Attributable to Great River Energy

$42.8

$45.4

$(2.6)

   

Financial position
   

 

Electric Plant and Plant Held For Future Use

$4,079.3

$3,994.8

$84.5

Utility Plant – net

$2,743.9

$2,683.6

60.3

Deferred Charges

$215.9

$225.1

$(9.2)

Cash and Cash Equivalents

$271.6

$323.1

$(51.5)

Total Assets

$3,704.4

$3,689.8

$14.6

Long-term Obligations

$2,605.8

$2.712.1

$(106.3)

Members’ Capital

$487.7

$444.8

$42.9

Equity to Capitalization Ratio

15.4%

13.7%

1.7%

Financing and Ratings

Great River Energy maintains investment grade debt ratings with the following rating agencies:

Standard & Poors

A- (Stable)

Fitch Ratings

A- (Stable)

Moody’s

Baa1 (Stable)

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