In the News – January Update

At Nobles Cooperative Electric, we're committed to providing you with electricity that is both reliable and affordable. To achieve this, we rely on our wholesale power suppliers, Great River Energy (GRE) and Western Area Power Administration (WAPA). Both organizations have announced significant rate adjustments for 2025 to invest in critical infrastructure upgrades and meet evolving energy needs. GRE will see an increase of 8.5%, while WAPA's rate will rise by 4%.

Why the Rate Adjustments?

These adjustments are driven by several factors:

• Aging Infrastructure: Our power grid needs continuous upgrades and maintenance to ensure reliable service, especially as we face more extreme weather events.
• Renewable Energy Growth: Minnesota is transitioning to carbon-free electricity, requiring significant investments in new renewable energy sources and grid modernization to accommodate them.
• Increased Demand: As our communities grow and technology advances, electricity demand is increasing, requiring a more robust and resilient power grid. You'll see your monthly bills reflect your demand usage.

What GRE and WAPA are Doing

• GRE is investing in high-voltage transmission lines to reduce congestion and integrate more renewable energy sources like solar and wind. This ensures reliable power delivery as our energy mix evolves.
• WAPA is maintaining and upgrading its hydroelectric facilities and transmission systems, ensuring a long-term, reliable power supply from these important resources.

What Nobles Cooperative Electric is Doing

While these rate adjustments will impact our wholesale power costs, we're committed to minimizing the impact on your bill by:

• Increasing Efficiency: We're investing in energy efficiency programs to help you save energy and lower your overall electricity use.
• Watching our other costs: We’re finding ways to save money in other areas to help absorb heavy cost increases where possible.
• Advocating for You: We're working with policymakers to ensure fair and sustainable energy policies that benefit all Minnesotans.

Looking Ahead: Keeping You Informed

In our next newsletter, we'll dive deeper into the details of these rate adjustments and what they mean for your monthly bill. Nobles Cooperative Electric members will see increased rates starting February 1, 2025, including a $2 rise in monthly service charges for Rates 1, 2, 4 and 5, a $0.008 increase in the energy charge, and a $0.75 increase in the monthly demand charge for Rates 4 and 5.

We understand that any rate adjustment can be concerning. We're committed to transparency and keeping you informed every step of the way. For questions about rates, please contact me and I would be happy to answer any questions. We appreciate your understanding and ongoing partnership as we navigate these changes together.