Great River Energy holds annual meeting, promotes energy efficiency
Elk River, Minn. – Approximately 400 electric cooperative leaders gathered on June 13 in Hinckley, Minn. for Great River Energy’s annual meeting. The theme of the meeting, “A Brighter Idea,” was a recurrent message throughout the proceedings and an extension of the organization’s new campaign to encourage Minnesotans to install CFL bulbs in their homes.
“The cheapest kilowatt-hour is the one we don’t have to produce,” said Great River Energy president and CEO, David Saggau, as he addressed the attendees. “We’re trying to clutch our load growth to avoid spending money on additional generation. It’s good for business, and it is the right thing to do,” Saggau added.
“Nobody knows our challenges and opportunities going forward. As long as we provide our members with reliable energy at competitive rates in an environmentally sensitive manner, we will continue to develop bright ideas,” Saggau said.
Great River Energy Board Chair Henry Hanson focused his remarks on the dedication and commitment of the board of directors over the past year.
Financially, 2006 was an outstanding year for Great River Energy. The organization earned a record margin (or profit) of $56 million on revenues of $710 million in 2006, according to Larry Schmid, vice president and chief financial officer. “Not only did we earn a record margin, but we also returned $17 million to our members through our power cost adjustment,” Schmid said. “The power cost adjustment refund was the major reason Great River Energy’s 2006 member rate for wholesale power was 2.1 percent less than our 2005 rate,” he added.
During the annual meeting, one new director was elected to the Great River Energy board: Alta McQuatters, Arrowhead Electric Cooperative, Inc., Lutsen.
The following directors were re-elected to Great River Energy’s 34-member board:
Great River Energy is a not-for-profit electric generation and transmission cooperative providing wholesale electric energy and related services to 28 distribution cooperatives in Minnesota and Wisconsin serving 600,000 customers, or approximately 1.7 million people. For more information about Great River Energy, visit: www.GreatRiverEnergy.com.
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