Connexus Energy Blog

PRESS RELEASE
August 31, 2023

The Connexus^® Energy (Connexus) Board of Directors announces the upcoming retirement of CEO Gregory L. Ridderbusch. Having served since October 2015, Greg led our electric cooperative through a powerful transformation from a traditional distribution utility to an independent electric cooperative responsible for our own power supply.

Notably Greg, the leaders, and employees of Connexus successfully integrated distributed energy resources into the distribution grid, including 20MW of solar and 15MW of batteries, the first in commercial operation in Minnesota. By 2024, another battery application will be integrated into a substation, deferring distribution capital and providing topping capacity during peak demand periods.

An earlier conversion from meter readers to Advanced Metering Infrastructure [AMI] led to powerful data analytics, which enables the only behavioral demand response retail product in Minnesota called Peak-Time Rebate.

In the course of these innovations, Connexus negotiated an exit from Great River Energy membership and permanently converted to a customer business model effective January 1, 2023. As a result, building upon capped legacy G&T resources, Connexus now enjoys 100% flexibility and responsibility for building and evolving its power supply portfolio.

Connexus members experience reliability that is perennially in the top 5% of the nation’s utilities and enjoyed five years of zero rate increase until inflation forced a modest 2.94% increase in 2023. The new customer business model is already saving costs and the first full year of results will be reported at the cooperative’s Annual Meeting in April 2024. Board Chair Fran Bator stated, “Connexus Energy members will long benefit from these successes, and we wish Greg many happy years.”

The Connexus Board of Directors has retained CarterBaldwin Executive Search to assist in identifying and selecting the next CEO. Ridderbusch will retire after the selection and transition of his successor, targeted by early 2024. Candidates interested in the CEO opportunity should direct questions or submit a letter of interest and resume to Chris Guiney, cguiney@carterbaldwin.com.

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.

Organizations Worked Closely and Collaboratively on Contracts that Transition Connexus Energy to be a GRE Customer; Connexus members will continue to receive reliable, affordable, sustainable, and resilient electric service.

Connexus Energy Members,

The Boards of Directors of Connexus Energy, Great River Energy (GRE), and GRE member cooperatives have voted to adopt new wholesale power and transmission services agreements between Connexus and GRE. The innovative and forward-looking agreements enable Connexus Energy to maintain our long-run affordability and reliability, while also opening additional options to green the grid.

For our Members, Connexus has been working hard to have more flexibility to meet the needs of the more than 330,000 people living in the eight suburban and rural counties we serve. On behalf of our elected board of directors, staff, and members, we thank Great River Energy’s membership, board, and staff for working with us to create a new working model which enables Connexus flexibility and innovation—a great example of cooperatives working together for members.

Under the power supply and transmission services agreements, effective January 1, 2023, Connexus will transition to being a GRE customer. 

Direct perspectives from organizational leaders

“These agreements are a leading example of cooperatives working together. We appreciate Great River Energy’s membership, board, and staff for working with us to create a new model that enables Connexus flexibility and innovation.”

Greg Ridderbusch, president and CEO, Connexus Energy

“We have a strong ethic of serving our members. Our board sees this transition to a customer as being on the path to creating new options in service to our members.”

Fran Bator, Board Chair, Connexus Energy

“Great River Energy and Connexus Energy worked collaboratively to develop a customer arrangement that accomplished Connexus Energy’s goals with minimal impact on Great River Energy’s member-owner cooperatives. This is a unique arrangement that displays the collaboration and innovation among electric cooperatives.”

David Saggau, president and CEO, Great River Energy

Additional details of the two agreements are available from both Connexus and GRE.

In the coming years Connexus envisions using its flexibility to provide new options for members to save energy while also benefitting from modern all-electric transportation, home appliances, and heating and cooling building innovations.

Just as our founding members in 1937 sought to modernize life with the early grid and first electric devices, we look forward to modernizing our power supply — working For the Members — to adapt to changing technologies like electric vehicles and battery storage, as well as variable market conditions while providing affordable and reliable electric service.

Members who have additional questions may contact our communications lead, Rob Davis, rob.davis@connexusenergy.com or 763.218.7656.

Thank you for being a member-owner of our cooperative.

Respectfully,

Fran Bator
Chair, Connexus Energy Board

Greg Ridderbusch
President and CEO, Connexus Energy