East Texas Electric Cooperative and Minnkota Power Cooperative Become ACES' Newest Members

CARMEL, Ind., Dec. 7, 2022 /PRNewswire/ -- ACES announced that East Texas Electric Cooperative (ETEC), located in Nacogdoches, Texas, and Minnkota Power Cooperative (Minnkota), located in Grand Forks, North Dakota, will become its newest Members effective January 1, 2023. As Members of ACES, ETEC and Minnkota each own an equity share in the company and hold two seats on the ACES Board of Directors, allowing them to have input into the operations and strategic direction of the company, among other benefits.

"ETEC is pleased to join ACES and continue to grow our relationship with its staff. ACES has consistently provided outstanding service to ETEC over the past two years, has been diligent in responding to our requests, and has been flexible as our needs have evolved since becoming a Customer," stated A.J. Goff, President and CEO of ETEC. "Membership in ACES provides several advantages for ETEC, including market expertise, access to sophisticated modeling and analytical tools, and a very capable staff to support ETEC and our members navigate the future energy markets for our unique portfolio."

"ACES has been a trusted partner and truly an extension of our staff at Minnkota for more than a decade," said Mac McLennan, President and CEO of Minnkota. "Over our years as a Customer, ACES has learned the intricacies of our system and has been responsive to our unique and evolving needs. ACES has been instrumental in helping Minnkota navigate the increasing complexity of the energy markets, as well as providing expertise in modeling our future power supply portfolio options. We see ACES membership as an opportunity to better serve our member cooperatives as we continue to face rapid industry change."

Mike Steffes, President and CEO of ACES, commented, "ACES and ETEC have developed a strong relationship in recent years since ETEC started taking services as a Customer. They have continued to increase the number of services they take from ACES, and understand the benefits of Membership. Minnkota has been a Customer for some 10 years, and has increasingly taken more services and has relied on ACES to help manage their portfolio. ACES shares ETEC's and Minnkota's commitment to serving their members and building on their successes, and we look forward to continuing to support them in their efforts to provide reliable and affordable power. ACES will be a stronger organization with ETEC and Minnkota as Members, and ACES and its Board of Directors are happy to welcome them."

ACES is owned by twenty-three generation and transmission cooperatives and one independent distribution cooperative. The company assists its Members and Customers in the management of their energy risk. The Members and Customers served by ACES operate in all of the major electricity markets in the United States and have a collective portfolio of over 50,000 MW of both load and resources. Because ACES does not buy or sell energy on its own behalf, it avoids conflicts of interest and ensures alignment with the best interests of the organizations it serves.

ETEC is an electric generation and transmission (G&T) cooperative formed in 1987. The company is headquartered in Nacogdoches, Texas, and has 8 member-owners. ETEC's peak load is 1,050 MW and it has total generation exceeding 940 MW. ETEC owns and operates 300 miles of transmission lines and 24 substations. ETEC's board diligently pursues a well-balanced, diversified generation portfolio that will provide stability for years to come, as well as innovations that will allow for the integration of renewable energy sources while preserving affordability and reliability.

Minnkota is an electric generation and transmission (G&T) cooperative formed in 1940. Minnkota is headquartered in Grand Forks, North Dakota, and has 11 member-owners. Minnkota's peak load is 886 MW and it has total generation of 1,336 MW, including energy purchased from three North Dakota wind farms and hydroelectricity purchased from the Garrison Dam in central North Dakota. Minnkota operates and maintains a robust set of electric transmission infrastructure, including more than 3,340 miles of transmission line and 252 substations. Minnkota also serves as operating agent for the Northern Municipal Power Agency (NMPA).  

CONTACT:
Leah Smith
[email protected] 

SOURCE ACES