BASIN ELECTRIC CONSIDERING 2026 RATE INCREASE 

In 2024, the Basin Electric Power Cooperative (Basin Electric) board of directors authorized a Class A rate increase of $4 per megawatt-hour (MWh), or approximately 6.5%, beginning Jan. 1, 2025. Basin Electric’s financial forecast indicated the need for an approximate $5.20 per MWh rate increase; however, after feedback from members, the board elected to use a portion of the rate stability fund in order to gradually implement the rate increase. Basin Electric is regulated by the Federal Energy Regulatory Commission, which will also need to approve the rate change.

Basin Electric is now considering raising rates Jan. 1, 2026. The increase would be 18.7% and would affect Prairie Energy Cooperative through our generation and transmission provider, Corn Belt Power Cooperative (Corn Belt).

PECO ATTEMPTING TO MAINTAIN STABLE AND AFFORDABLE RATES
Prairie Energy Cooperative (PECO) is an electric distribution power cooperative. Our power is supplied by two generation and transmission (G&T) cooperatives: Corn Belt Power Cooperative in Humboldt, Iowa, and Basin Electric Power Cooperative in Bismarck, North Dakota. Our electric rates are impacted by our G&T cooperatives. These are factors which we have limited or no control. We are always engaged in discussions with our G&T cooperatives, but their decisions are based by their leadership teams and board of directors.

PECO member-owners expect lower electric rates in an environment where nearly all the costs associated with those rates are increasing. PECO shares this expectation. PECO has not raised our energy rates since November 2016. PECO did raise the facility charge with all member-owners in February 2025. The facility charge supports PECO in covering our fixed costs. It helps insure we can fix and maintain the poles, wires, meters, insulators and so on that serve your property.

Part of our commitment to our members is to ensure fiscal responsibility so that we can meet all of our financial obligations. This includes performing annual budgets, 10-year financial forecasts and conducting cost-of-service studies to evaluate our rate structures. As we continue to meet our financial obligations, we will have to pass on a rate increase in 2026. As we research our options over the next several months, we will continue to strive to safely provide reliable, affordable and responsible energy to our member-owners.