As we reflect on 2024, I am reminded of the resilience and commitment that define Nodak Electric Cooperative. The year began with one of the more significant challenges we faced in recent memory — recovering from a severe ice storm that left many of our members without power. The storm tested our infrastructure and our resolve, but with the help of lineworkers from neighboring cooperatives, our dedicated employees worked tirelessly to restore service as quickly and safely as possible.

We deeply appreciate the patience and support of our members throughout that process. Despite this early hardship, 2024 was a year of stability and progress for Nodak Electric. For the eighth consecutive year, we were able to keep our rates steady, ensuring that our members continued to receive reliable and affordable electricity without an increase in their energy costs. In an era of rising expenses across many sectors, this is an achievement we take great pride in.

Financial strength remains a cornerstone of our cooperative’s success. Even as we managed higher costs for materials, labor and services, we maintained a solid financial position that allowed us to reinvest in our system and return value to our members. We finished the year with a margin well above our budget, added 315 new services and installed 141 miles of new underground cable. This year, we were pleased to retire and return $3.1 million in capital credits to our member-owners as well. Returning capital credits is one of the key benefits of cooperative membership and a testament to the sound financial stewardship of our organization.

But being a cooperative means more than just delivering electricity. It means serving our members in ways that strengthen our communities and improve quality of life. In 2024, we continued to support our members beyond energy delivery. Some of the highlights of our community involvement include providing scholarships for lineworker training in North Dakota, donating almost $50,000 to community members and organizations through our Operation Round Up® program, providing grants to community projects, sponsoring member loans through USDA, sponsoring a Youth Tour to Washington, D.C. and much more. Whether through these programs and initiatives, or helping to find assistance programs for those in need, Nodak Electric remains committed to being a trusted community partner.

We also remain focused on the future. Reliability is at the core of what we do, and we are continuously working to strengthen and modernize our distribution system. Investments in system upgrades, right-of-way maintenance and new technologies help ensure that we can continue delivering the dependable service our members expect. As the energy landscape evolves, we are prepared to adapt to new challenges while staying true to our cooperative principles.

As always, the strength of our cooperative comes from the people who power it — our employees, our board of directors and, most importantly,  our members. Your support, engagement and trust are what enable us to thrive. Thank you for allowing us to serve you and for being part of the Nodak Electric family.

We look forward to another year of progress, stability,  and service to our members and communities.

Mylo Einarson,
President & CEO