For Immediate Release | News Release | December 22, 2020
Cass County Electric Cooperative announces a $1.5 million reduction on member’s December electric bills
Due to stable growth, favorable weather for electricity sales, lower than expected operating and financing costs, and therefore higher than expected margins, the Cass County Electric Cooperative Board of Directors approved a $1.5 million reduction on member’s December bills.
As a local member-owned cooperative, we strive to keep our costs low and rates stable. In fact, in 2019, the price to operate the Cooperative (excluding wholesale power) was 2.23 cents per kWh. Cooperatives of comparable size were 3.51 cents per kWh. By operating the business efficiently and carefully managing the finances, cooperative members saved approximately $16,478,000 in 2019 compared to operating costs of similar-sized cooperatives. We expect similar results for 2020. Wholesale power costs remain stable and represented about 74% of the member’s electric bills.
The consistent and careful management of the Cooperative, a more than $2 million in capital credit retirement, and the bill reduction will hopefully help businesses and members struggling financially.
“We are a not-for-profit member-owned and governed electric distribution cooperative that is committed to providing affordable and reliable electricity to our members," said Marshal Albright, President/CEO of Cass County Electric Cooperative. "At the end of this year, we are grateful to have enough revenue to cover our financial commitments and reduce our member’s December electric bills by $1.5 million.”
Headquartered in Fargo, ND, Cass County Electric Cooperative is a not-for-profit, member-owned electric distribution system serving more than 53,000 services in a 10-county area in southeastern North Dakota. Cass County Electric Cooperative has five service centers in Fargo, Kindred, Valley City, Lisbon, and Arthur, North Dakota. Cass County Electric Cooperative’s wholesale power supplier is Minnkota Power Cooperative.