The Year in Review
Adam Tromblay, General Manager
As 2024 comes to a close, I wanted to take a moment to reflect on what has been a truly remarkable year for Nobles Cooperative Electric. It's been a period of significant growth and development, with major building projects underway and exciting new software and member service improvements that took place too!
Building for the Future:
This year saw $2.8 million investments in infrastructure to ensure we continue to provide reliable and affordable power to our members. We've made substantial progress on our building project in Slayton, which will enhance our operational efficiency and better serve our members. In Adrian, our new substation is now online, boosting grid resilience and capacity. And just last month, we celebrated the groundbreaking of another new substation in Slayton, a project that will further strengthen our network and prepare us for future growth.
Enhancing Your Experience:
We're committed to improving your experience as a member. This year, we launched a brand new website and online member portal, providing you with easier access to account information, billing and online payments. Behind the scenes, we've implemented a new system that integrates into every aspect of our daily operations, helping us streamline and improve our services.
A Team Effort: None of this would be possible without the dedication and hard work of our incredible team. Their commitment to excellence and unwavering service to our members is truly what being part of a team is about.
As we look ahead to 2025, we're excited to continue building on this momentum. We remain dedicated to providing you with safe, reliable and affordable electricity, while actively supporting the communities we serve.
On behalf of everyone at Nobles Cooperative Electric, I wish you a happy and healthy holiday season and a prosperous New Year!
What’s ahead in 2025?
Addressing a potential rate increase is always a challenging conversation. Our aim is to explore every possible alternative before reaching that stage. In the past, we have experienced small rate hikes from our power suppliers, yet we have successfully managed to maintain stable rates. However, we are now facing an anticipated wholesale power rate increase of approximately 8.5% from Great River Energy and nearly 4% from WAPA (Western Area Power Administration) for 2025, which will inevitably lead to higher rates for our members in the future.
Although the final outcome of a rate increase in 2025 remains uncertain, please be assured that we will diligently strive to minimize its impact as much as possible. Currently, both our wholesale and retail rates are still below the national average, but it is undeniable that in the upcoming year we will be forced to increase rates due to the escalating costs of power generation and transmission.
