New challenges are impacting us all—the global pandemic, price increases on essentials like food and gas, and supply chain shortages affecting everything from vehicles, to transformers, to wire. Accountable for your electricity, we are managing the economic and operational impacts of these challenges.
You, your family, your community, and your cooperative are resilient. Connexus has successfully navigated our economy with no general rate increase over the last five years. We maintained our grid and made smart and necessary investments for electric reliability in the top 5% of the nation’s utilities.* The remarkable inflation is a force for which we have moderated the impact on Connexus members. Our continued commitment to affordability has enabled the Connexus Energy Board of Directors to adopt a 2023 budget with one of the lowest general rate increases among Minnesota’s electric utilities: 2.9% for residential members, which includes a $1 basic service charge increase.
A key contributor has been the successful completion of a two-year renegotiation of our legacy power supply arrangements. Information on this change is available on our home page. New customer contracts between Connexus and Great River Energy (GRE):
- Create savings
- Unleash technology and business flexibility
- Enable us to arrange future power supply for growth
- Innovate to help members to save energy while also benefiting from modern all-electric transportation, home appliances, and heating and cooling building innovations
Looking ahead, your board of directors and staff will continue to act in the membership’s interest, being relentless in our service to you.
Thank you for being a member-owner,
Greg Ridderbusch
President & CEO
This article appeared in our Winter 2023 newsletter.
* U.S. Energy Information Administration (EIA), 2016-2021.
