FRIDAY, DECEMBER 16, 2022 A combined retirement of $1.86 million in patronage capital credits was approved by your Board of Directors for 2022. The ability to retire capital credits is a sign of the cooperative’s financial strength. LREC has steadily increased the amount of capital credits retired over the last decade. This will be 10 consecutive years in which…
WEDNESDAY, DECEMBER 14, 2022 LREC Celebrates 85 Years!85 years ago in 1937, local farm families were looking for a better way. They had a vision along with the grit, determination, and ability to build consensus that was necessary to build their own electric cooperative. These pioneers of rural electrification brought themselves more than electric lights,…
MONDAY, DECEMBER 12, 2022 LREC’s off-peak wholesale power rates from Great River Energy (GRE) are rising due to increases in the wholesale power market, which is primarily driven by the wholesale natural gas market. LREC has absorbed multiple wholesale off-peak rate increases over the years, to keep off-peak rates stable for our members. Our dual…
WEDNESDAY, NOVEMBER 16, 2022 Candidates for the LREC Board of Directors will be nominated in districts 2, 5, and 8. Meetings will be held in each of the three nominating districts. All members are invited, although only members of each district can vote but voting can only occur in-person. Livestreams of the meetings will be…
THURSDAY, NOVEMBER 10, 2022 Inflation and Natural Gas Prices Drive the Need for Additional RevenueWith the rate of inflation and high cost of natural gas increasing Great River Energy (GRE) wholesale costs, we are anticipating the need to collect more revenue within the next 12 to 18 months. We anticipate an approximate 6% increase in GRE…
THURSDAY, OCTOBER 27, 2022 During the quarterly allocation of Operation Round Up (ORU) funding, Lake Region Electric Cooperative (LREC) awarded $10,000 this October. The ORU Board of Trustees granted funding to five local organizations at their October 10th meeting, bringing LREC’s total donation amount to $514,870 since 2007. Organizations receiving funds were: To learn more about…