Good morning NIECI,

Mother Nature has handed us a winter wonderland!  There will be no question we will have a white, snow-filled holiday season.  Please be careful, the weight of the snow on our trees will be a concern for weeks and months to come.

The local lakes had some ice, not enough to fully support this snow load.  I’m guessing there will be a lot of slush when you punch a hole in your favorite fishing hole this winter.  Please be careful and mindful as the conditions continue to change after this storm.  The local snowmobile clubs will be busy trying   to open the trails for the season.  Please be patient; if you have some time to donate, I’m sure the clubs would be happy to have the help clearing and packing the trails.

Our directors held a board meeting at the end of November.  The 2023 budget was reviewed in detail including the operating budget.  This includes investments in equipment and what we expect to accomplish on the system over the next year.  Pressures from multiple directions led us to increase rates for 2023.  Below is what you can expect:

With these increases the average Member-Owner will see a bill increase of roughly $6.33 per month.  This is based on the average usage of 750 kWh in a month.  If your home or business uses more than that we can quickly calculate what your increase will be.  We are increasing revenues by five percent in 2023.  Three percent of this increase is coming directly from Great River Energy increasing the cost of purchased power to North Itasca Electric.  This increase is due to the costs going up significantly in power markets driven by the price of natural gas.  The remaining two percent is cost of materials, insurances, dues and operating expenses rising.  I understand this is never good news when we raise the power bill.  We worked diligently to keep the increase as low as possible given the difficult times we are facing together.

On a much happier note, Capital Credit Checks were mailed in December.  Mailing these checks out to our members is fulfilling our responsibility to return revenues.  Additionally, we are returning Capital Credits from our G&T Great River Energy.  North Itasca Electric is returning years 1999 and 2001, GRE is returning years 1991 and 1992.  North Itasca Electric returned $228,806, GRE returned $101,051 to our Member-Owners.  The average check was roughly $70 returned to those members.  North Itasca Board of Directors, employees and myself are extremely proud when the checks are mailed back to you.

This will be my last article for 2022.  I’m ready to put this one in the books and start 2023!  We had several challenging months due to storm damage from this summer.  My employees came together to overcome everything that was thrown at them.  Our board of directors were supportive and understanding of the situations we faced.  Thank you to my employees and board of directors for all your dedication to the Member-Owners of North Itasca Electric! 

Last but surely not least, thank you to my Member-Owners.  Your support when the times are tough is outstanding!  Your kind and encouraging words during storms, conversations we share, emails and your willingness to communicate is so appreciated.  This cooperative was created by the members we serve, you make that job so rewarding.  Our communities are outstanding!  I am proud of the work we have accomplished and where we intend to go.  Thank you for being the involved and interactive communities you have always been.

By your side! Miigwech

Brad