Connexus Energy Board Unanimously Approves 10-Year Resource Plan

Ramsey, Minn., January 15, 2024 — Connexus Energy Board of Directors voted unanimously to adopt the nonprofit utility's 10-year resource plan. Affordable, reliable, and safe delivery of electric service to homes, businesses, schools, and municipalities in the utility’s fast-growing service territory were key themes in the development of Connexus’ first resource plan since new power supply and transmission agreements took effect on January 1, 2023.

“Connexus has evolved from a traditional distribution utility into an independent electric cooperative. Building upon our capped legacy generation and transmission resources, Connexus now enjoys 100% flexibility and responsibility for building and evolving our power supply portfolio,” said Greg Ridderbusch, president and chief executive officer. 

Over the last two years, Connexus renegotiated its legacy power supply and transmission agreements. The new model is already saving costs, and the first full year of results will be reported at the cooperative’s annual meeting on April 18, 2024. The resource plan is publicly available on the utility's website. Input from Connexus Energy members was solicited, and former Minnesota Public Utilities Commissioner Dan Lipschultz facilitated a series of stakeholder meetings during the eight-month process. The resource plan demonstrates compliance with the State of Minnesota's mandate for 100% carbon-free electricity by 2040. 

Connexus members experience reliability that is perennially in the top 5% of all utilities nationwide and enjoyed five years of zero rate increase until inflation forced a modest 2.9% increase in 2023. Despite continued supply chain and inflationary challenges, Connexus successfully held rates flat and adopted a 2024 budget with no general rate increase.

“Cooperative governance is working for our vibrant north metro community,” said Fran Bator, chair of the Connexus Energy Board of Directors. “For nearly 90 years this democratically elected board and those before it has successfully governed our utility in compliance with all laws and regulations. From our affordable rates to outstanding reliability to our newly secured power supply flexibility, the Board acts in service to Connexus Energy members.”  

Looking to the future, Connexus anticipates robust growth in the number of its members choosing to invest in rooftop solar, scaling from 11 MW of total rooftop systems today to 130-280 MW by 2033. Serving the fast-growing suburbs and rural areas north of Minneapolis/St. Paul, the utility also anticipates growth of consumer-owned electric vehicles from fewer than 2,000 today to between 14,000 and 54,000 by 2033.

Founded in 1937 as one of the nation’s first 100 electric cooperatives, Connexus is the Midwest's largest consumer-owned electric cooperative and has been nationally recognized for its “perfect power” service reliability, grid innovation, and solar land-use practices. 

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