Great River Energy board approves 2026 budget and rates

GRE’s wholesale electric rate to increase 2.9% in new year

The Great River Energy (GRE) board of directors approved the cooperative’s 2026 budget and rates Thursday, Nov. 6, setting the stage for a 2.9% average wholesale rate increase next year.

The generation and transmission cooperative is budgeting revenue and expenses of approximately $1.1 billion in 2026. As a not-for-profit cooperative, Great River Energy collects only enough revenue to cover its costs as well as a margin to operate the business.

GRE operates, maintains and plans power supply and transmission facilities to ensure a reliable, affordable and environmentally responsible supply of wholesale electricity to its 26 member-owner cooperatives (including Steele-Waseca Cooperative Electric) located throughout Minnesota and parts of Wisconsin.

At the same time, the cooperative makes investments in the best interests of its member-owners over the long term. The co-op is in the early stages of significant regional transmission investments to ensure reliable electric service. “The strategic decisions we have made in recent years have resulted in improved service to our membership and stable wholesale electric rates,” said Great River Energy Vice President and Chief Financial Officer Michelle Strobel.