Basin Electric, members discuss investing for the future at 2024 annual meeting

Todd Brickhouse, Basin Electric's CEO and general manager, welcomes guests to Basin Electric's 63rd Annual Meeting of the membership.

Basin Electric’s 2024 Annual Meeting of the membership was held on August 14 at the Bismarck Event Center in Bismarck, North Dakota. The meeting was attended by nearly 900 member cooperative employees, directors, public officials, utility representatives, and guests.

The theme for Basin Electric’s 63^rd Annual Meeting was “Investing for the Future.” This theme highlights the many ways the cooperative is investing in reliability, affordability, the membership, and employees. These investments shape the cooperative’s future, ensuring that Basin Electric’s membership is served with reliable and affordable electricity.

Wayne Peltier, Basin Electric board president and representative of Basin Electric Class A member Minnesota Valley Cooperative Light and Power Association in Montevideo, Minn., discussed the meaning of investing and how it aligns with the values of the cooperative. “Investing for the future is more than a financial strategy, it’s a testament to our commitment to progress and prosperity. It’s the foundation for a future that’s sustainable, reliable, and prosperous,” said Peltier.

Todd Brickhouse, Basin Electric CEO and general manager, focused on strategic planning for future success. “The reliability and affordability we benefit from today is the result of careful planning and prudent investments that occurred years and even decades ago,” said Brickhouse. He also discussed the 11 major projects Basin Electric has underway with a price tag of $1.9 billion in response to growth within the membership. “Basin Electric is committed to adjusting our sails as the cooperative invests in a safe, reliable, and affordable future for our member-owners.” 

Chris Johnson, Basin Electric senior vice president and chief financial officer, discussed the future of the cooperative in light of new investments. “Investing is essential for the future growth and sustainability of Basin Electric,” said Johnson. “Investing provides the necessary resources to expand operations, innovate, and remain competitive in a rapidly evolving market.”

The Annual Meeting featured Alex Epstein as the keynote speaker. Epstein is a philosopher and energy expert who argues that “human flourishing” should be the guiding principle of energy and environmental progress. “Energy freedom is the answer,” said Epstein. “Net zero by 2050, by failing to recognize the unique benefits of fossil fuels, is catastrophic when barely implemented and would be apocalyptic if fully implemented. Energy freedom gives billions more people the energy they need to flourish and unleashes truly cost-effective alternatives.”

Other highlights include:

• Bismarck Mayor Michael Schmitz provided a welcome to meeting attendees.
• Gavin McCollam, Basin Electric senior vice president and chief operating officer, addressed reliability and said, “Whether it’s the national news, regional transmission organizations, electric reliability councils, or politicians – the concern is the same – and the concern is valid. We need to maximize reliability. We haven’t forgotten about efficiency and viability, mind you, but – as we stand here today – reliability is king.
• The Reliability panel focused on how over 1500 men and women work hard every day to keep generation, transmission and subsidiary facilities running reliably. The panel also addressed the latest environmental regulations by the Environmental Protection Agency and how they threaten reliability. “The increased difficulty in building new facilities and the constant attack on existing facilities continues to threaten reliability,” said Erin Dukart, Basin Electric’s director of Environmental Services.
• The Investing in Our Future panel provided updates on current construction projects, how they’re working to serve growing load, and touched on Basin Electric’s all-of-the-above energy strategy.
• The Government Relations panel discussed various issues related to their representative states including tax reform, eminent domain, Western RTO expansion, and permitting return.

More information including summaries and video can be found at basinelectric.com and on social media.