Explore Okoboji
Listen Now! music notes icon
Listen! music notes icon 77° sun icon
  • Home
  • News
  • Inflationary Pressures Having Huge Impact On Energy Providers

Inflationary Pressures Having Huge Impact On Energy Providers

June 13, 2022 Steve Schwaller

(Estherville)– Like everything else, inflationary pressures are having an impact on energy providers. Tim McCullough, President and CEO of Estherville-based Iowa Lakes Electric Cooperative tells KUOO news the numbers are alarming…

“There’s an energy-specific inflationary number. The last time that I looked at that it was up over 30 percent year-over-year. Now that’s a blended average of fuel, natural gas, oil, heating fuels and electricity. And that’s a significant increase. And that said, our members with Iowa Lakes Electric have seen stable rates for five years, even through winter storm Yuri, even through the first part of this year, we’ve been successful at keeping our rates the same, and we hope to continue that. The wind this spring has actually been a very positive thing for Iowa Lakes Electric members, because we have wind turbines ourselves. So we’ve seen increased production, increased revenues from the wind and that’s helped offset some of the increase in cost that we’ve seen. So when the wind blows, it’s a windfall for Iowa Lakes members because of our investments in those assets.”

McCullough says reliability and cost effectiveness remains their top priority for member-owners.

Back to News