Guest speaker David Saggau, CEO of Great River Energy, summarized the generation plans and system growth of the generation and transmission cooperative which has become the fourth largest G & T in the country with 600,000 meters. GRE supplies power to about 1/3 of the state and is experiencing a load growth of 6.65 percent or three times the national rate, he said. In fact, 70 percent of new housing starts lie within GRE service territory.

He also pointed out that GRE is trying to satisfy this growth while paying attention to its member cooperative priorities: reliable service, reasonable rates and environmental stewardship.

Projects on the horizon include a new Cambridge peaking plant to be operational in 2007 and a partnership in a supercritical pulverized coal plant at the current Big Stone site near Milbank, S.D. which will provide over 600 MW but not increase overall site emissions because of oversized pollution control equipment.

Saggau also pointed to its commitment to wind energy, with 500 MW in place and plans to acquire 120 MW additional capacity. GRE was the first to commit to meet the state’s renewable energy portfolio standard of 10 percent renewable energy, he pointed out.

New markets include a successful venture into using fly ash from Coal Creek as a substitute for Portland cement, a new process to dry coal to 30 percent moisture by exposing it to waste heat, and the supply of waste heat to a proposed 50 million gallon per year Blue Flint ethanol plant.

Disposing of fly ash used to cost about $2-3 million a year, Saggau said. Now it brings in that much in revenue. GRE expects to be able to license its coal drying technique, which also increases plant efficiency and reduces mercury emissions.

Although wholesale prices are going up to the cooperative members, Saggau pointed out that its rates are still competitive, and in fact below the national weighted average. Its ability to do this is partly from the decision in the 1970s to have its Coal Creek plant at the minemouth and use transmission lines to bring the power to Minnesota instead of bringing in the coal by rail.

Co-op members pay different rates as well, depending on its load factor and use of conservation programs. North Itasca Electric falls in about the middle of the rate structure.

As a gesture of support for the RoundUp program where Members round their monthly billings up to the next dollar and donate the cents difference to local projects, Saggau presented CEO Jeff Ortman with a $1,000 check toward the fund.

Alison Deelstra, manager of marketing and communication for the Minnesota Rural Electric Association, spoke about the state’s need for transmission and generation, and the MREA’s belief that voluntary renewable energy objectives are better than a state mandated portfolio standard.

There are actually six generation and transmission companies serving the state, she said, including GRE, Dairyland Power Cooperative (Wis.), Basin Electric Power (ND), East River Electric Power Cooperative (SD), L & O Power Cooperative (Iowa) and Minnkota Power Cooperative (ND).

The goal of the MREA is to promote and preserve the network of cooperation and support, she said. “We’re that strong network of support working in your best interest.”

Jeff Ortman, CEO, reported on the financial year to the membership.

Incumbent directors in Districts 1, 2 and 3 were reelected: Raymond Swang with 74 votes, 3 write-ins; Wesley Waller with 94 votes, 5 write-ins and Gino Anselmo with 99 votes, 1 disqualified.