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Basin Electric 2020 Annual Report

Democratic member control is what sets us apart from investor-owned utilities.

Critical decisions need to be made over the next couple of years that will impact Basin Electric for the next 15-20 years, and discussion and debate are essential to making the best decisions that we can.

The report focuses on serving responsible, reliable, and affordable power, and the effort Basin Electric’s employees and member cooperatives put in at work and in their communities to help the service area through the COVID-19 global pandemic.

Download the report (PDF)

Responsible

Responsible, Reliable, and Affordable

Basin Electric’s approach to serving our members is this: provide power that is responsible, reliable, and affordable.

Responsible means keeping our employees safe and protecting the environment for generations to come. Reliable power means our members can count on their generation and transmission cooperative to supply the power they need to deliver to their members. As a cooperative, being able to deliver power affordably means we understand people can’t give more of their money to an electricity bill.

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Increasing wind


Basin Electric added nearly 400 megawatts of wind to its portfolio in 2020, bringing the total to more than 1,700 megawatts.

Renewables on the horizon


Solar energy is now competitive in our market, and it provides generation during the daytime, when the cooperative’s system peaks.

CO2 milestone


The Synfuels Plant is one of the world’s largest carbon capture facilities, capturing about 2 million metric tons of CO2 each year.

Industrial assistance


Carbon dioxide is used to aid in keeping the COVID-19 vaccine at the recommended stored temperature.

Industry Perspective


"We’re moving toward a world that’s heading toward [green] electrification, and that’s attracted of lot of competitors that are all looking to get into your space, but they all need execution capacity and partners to actually deliver the electrons. … I think you are well positioned to take advantage of these megatrends around the green stimulus and ESG [Environmental, Social, and Governance]-driven, low-carbon transition."

Robert Johnston, Eurasia Group, Global Energy and Natural Resources

Community

Cooperative and Community

Cooperatives firmly put people before profits. As a business model that is not-for-profit and geared directly toward fulfilling needs in communities, that is the only way that makes sense.

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Concern for Community


Each year Basin Electric’s Charitable Giving Program donates to charities across the cooperative’s nine-state service territory. 

 

Communities affected by COVID-19


The COVID-19 pandemic and the subsequent screeching brakes of the economy had widespread impact for several months in 2020, beginning in March.

Stable member rates


Basin Electric is the lowest-priced generation and tranmission cooperative in the region, a valuable benefit to the communities we serve.

Employees powered through COVID-19


Basin Electric employees worked together to keep plants operating and electricity flowing to the membership.
Commitment

Commitment and Connection

The commitments our members have made to one another and to Basin Electric, all the way from the incorporation of this generation and transmission cooperative through the renewal of the wholesale member contract in 2015, is a powerful testament to the strength of Basin Electric and its members.

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New infrastructure and upgrades


New transmission facilities were added in 2020, and more were approved to help serve the membership.

New market


Western Energy Imbalance Service is a real-time market that takes advantage of a diverse mix of generating resources to optimize the use of the Western Interconnection transmission system.

Benefits to the west


"The startup of the energy imbalance market by SPP in the western interconnection is exciting. Coupled with SPP’s proven stakeholder process, success in operating markets and providing reliability coordination services gives us the reliability and economics in the near term and for the longer term. It also provides a realistic pathway to a full RTO in the western interconnection."

Paul Sukut, Basin Electric CEO and general manager

Financial

Financial Stability

Basin Electric displayed its financial strength and stability during the COVID-19 global pandemic. This was a direct reflection of the strong financial position of the membership.

Unlike many others, Basin Electric was able to rely on existing cash balances and liquidity available through the Member Investment Program to pay bills when the short-term markets were not as accessible due to uncertainty caused by the economic impacts of the pandemic.

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Member investment program


Basin Electric’s Member Investment Program set several records in 2020.

Co-op 100


Basin Electric was ranked among the nation’s top cooperatives by the National Cooperative Bank in its annual NCB Co-op 100 list, which highlights the economic impact of co-ops across the country. The cooperative was ranked #17 overall, and was ranked #1 in the energy sector.