Basin Electric directors approve financial forecast
Basin Electric directors approved the 2011-2020 Financial Forecast.
Basin Electric Power Cooperative
- August 19, 2010
At their August meeting, the board approved the 2011-2020 Financial Forecast as presented by Dave Bangen, Basin Electric's manager of financial planning and forecasting in Financial Services.
Bangen said there are a number of themes in the forecast. "First, Basin Electric is approaching the end of a construction period. If you include 2010, Basin Electric will spend about $1.7 billion, of which 86 percent will occur within the next three years, ending in 2012."
He said construction projects projected for completion during this timeframe include PrairieWinds ND 1 and Culbertson Generation Station in 2009 and 2010; Dry Fork Station and PrairieWinds SD 1 in 2011; and Deer Creek Station in 2012 resulting in corresponding growth of Basin Electric's balance sheet. "On a consolidated basis, Basin Electric has grown from a $2.5 billion company in 2005. Early in this forecast, we project Basin Electric will become a $5.5 billion company," Bangen said.
Bangen also noted that all of Basin Electric's long-term financing is in place. "Rural Utilities Service loan financing will figure prominently during the next 10 years." He added that "directors and senior management should be proud of the fact that they have maintained Basin Electric's financial strength throughout this construction period."
Headquarters
1717 East Interstate Avenue
Bismarck, ND 58503-0564 USA
Phone: 701.223.0441
Basin Electric Power Cooperative will provide cost-effective wholesale energy along with products and services that support and unite rural America.
