![]() These relationships continue to be a key factor in our ability to provide affordable, reliable and responsible generation for the membership.”īasin Electric also closed on a $300 million private placement in 2022 to help fund its past and future generation and transmission program as well as other general cooperative needs. “We would like to thank our bank group that partnered with us, committed financial backing to Basin Electric, and made this achievement possible. “This year we extended one of our two $500 million credit facilities,” she said. On a consolidated basis, for the first nine months of 2022, the net margins and earnings of Basin Electric and its subsidiaries were $381 million compared to a net margin of $185 million last year.īergquist discussed liquidity, the cooperative’s Member Investment Program, and the importance of Basin Electric’s relationships with its lending partners. “Prices for fertilizers are some of the highest we have ever seen, in some cases double last year’s prices,” Wald said. Prices and higher diesel exhaust fluid (DEF) and urea volumes are main drivers in the improvement. Revenue is close to $250 million higher and over 70% higher than last year. “This is an incredible improvement from 2021 when the net loss was $16 million through the first nine months,” she said. Wald said Dakota Gas is having “an extraordinary year, one that will be tough to replicate.” Net income for Dakota Gas for the first nine months of 2022 was $152 million the highest net income ever for Dakota Gas in the first nine months of the year. In the area of purchased power, volatile and high power prices have contributed to increased operating expenses. Operations and maintenance expenses have been impacted by high natural gas prices with increased power generation coming from gas units. The cooperative’s 2022 year-to-date unaudited financial results through September showed electricity sales to members at 7% higher than the same period last year and surplus sales prices have been significantly higher. She said the annual independent audit of the financial statements of Basin Electric and its subsidiaries, Dakota Gasification Company and Dakota Coal Company, resulted in clean or unmodified audit opinions. Wald discussed the cooperative’s 2021 financial results and associated audit, as well as the year-to-date financial results. Of that, Basin Electric has purchased a total of 2,983 MW of electric generation capability, including 1,525 total MW from renewable resources of which 1,480 MW are from wind turbines, and 45 MW are waste heat energy (known as recovered energy generation - REG).Basin Electric Senior Vice President and CFO Todd Brickhouse.ĭuring Basin Electric’s financial report, Senior Vice President and Chief Financial Officer Todd Brickhouse Vice President and Controller Katrina Wald Manager of Investor Relations and Financial Analytics Kelly Bergquist and Vice President of Procurement Jon Klein gave an update on Basin Electric’s financial condition. Peaking facilities are oil or natural gas-based.īasin Electric's total winter season generation capability portfolio by the winter 2021/2022 season will be 7,262.7 MW. Most of Basin Electric's baseload capacity comes from coal. ![]() ![]() Our electric generation facilities are located in North Dakota, South Dakota, Wyoming, Montana, and Iowa. ![]() Our largest subsidiary, the for-profit Dakota Gasification Company, owns and operates the Great Plains Synfuels Plant near Beulah, North Dakota, which gasifies lignite coal and captures some of the carbon dioxide emissions (CO 2) and sends them to produce several value-added products.īasin Electric will own 4,279 megawatts (MW) and operate 5,222 MW of electric generating capability by end of year 2021, of which 981 MW is for participants of the Missouri Basin Power Project (MBPP), and 80 MW is jointly owned by Basin Electric and its Class A member, Corn Belt Power Cooperative, Humboldt, Iowa. ![]() Basin Electric's core business is generating and transmitting wholesale bulk electric power to customers, primarily to our 131 member rural electric systems, which are located in nine states: Colorado, Iowa, Minnesota, Montana, Nebraska, New Mexico, North Dakota, South Dakota, and Wyoming. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |