A community of cooperative members gathered at the Cromwell-Wright School in Cromwell, Minn., for the annual membership meeting on Thursday evening, April 23, 2026. More than 240 members and guests gathered to hear about concerns facing the electric industry among other topics of interest including community outreach.
Mark Bakk, Lake Country Power general manager, reported on concerns including regional reliability and affordability issues. Reliability concerns are compounded by legislative policies that favor intermittent generation from wind and solar, while affordability concerns are related to material costs being, on average, 70% higher than pre-pandemic prices. Also, utilities will need to build roughly three times more capacity by 2035 to achieve energy policy goals set by the state of Minnesota.
Bakk also explained how the Midcontinent Independent System Operator (MISO) functions as the electric grid operator for the central United States. The operator ensures that power flows reliably and affordably across 15 states, including Minnesota, and the Canadian province of Manitoba. It also facilitates buying and selling electricity. Think of MISO as the air traffic controller of the regional grid.
By 2028, it is forecasted that power generation will fall below what MISO considers as a comfortable cushion of reserve resources, which places a high risk on the grid for periodic power outages that could happen any season of the year for Minnesotans. Lake Country Power’s service area may be impacted by these unplanned outages, and it won’t be anything the local cooperative can control.
“Why is all of this a concern?” asked LCP General Manager Mark Bakk. “Because in 2023, Minnesota passed legislation mandating 100 percent carbon-free power generation by 2040. Under this plan, 80 percent of what was keeping your homes warm during the polar vortex on January 24, 2026, will need to go away.”
“On top of that, Minnesota has a ban on building any new nuclear generation,” added Bakk. “State energy policy is threatening our ability to meet your needs and expectations. Something needs to change or we are headed for a problem.”
Tracy Peterson Wirtanen, LCP chief financial officer, provided an overview of the co-op’s 2025 financial results including operating revenue, energy sales, purchased power expenses, right-of-way expenditures, depreciation and interest expenses, construction work plan costs, capital credit retirements, and the required margin to meet financial requirements from lenders. She also reported about the rate changes that went into effect in early 2026.
A presentation by LCP’s wholesale energy provider, Great River Energy (GRE), highlighted the cooperative’s power supply portfolio and long-term resource strategy. GRE supplies generation and transmission to 26 distribution cooperatives in Minnesota, and focused on its delivery of reliable, affordable, and environmentally responsible electric service.
A special presentation during the annual meeting recognized 13 school districts within Lake Country Power’s service area with funding through the cooperative’s Education Improvement Program. The program is funded through abandoned and unclaimed capital from previous members who can no longer be located and is allowed by the State of Minnesota. The funds cannot be used for Lake Country Power operations.
Reports were given by LCP Board President Craig Olson, General Manager Mark Bakk, Chief Financial Officer Tracy Peterson Wirtanen, Holding Company President Daniel Kingsley, and Jon Brekke, Great River Energy’s vice president and chief power supply officer.
Annual meeting videos can be found on Lake Country Power’s website, www.lakecountrypower.coop, or the co-op’s You Tube channel at www.youtube.com/lakecountrypower.
District 3:
Steve Raukar, Hibbing, 479 votes
District 6:
Dan Kingsley, Blackberry, 447 votes
District 7:
Craig Olson, Culver, 357 votes
Lake Country Power awarded a large YETI hard-sided cooler as the grand prize. Two Quilts of Valor were awarded by the Queen of Peace Quilters of Cloquet.
Immediately following the adjournment of the annual meeting, the board of directors held a re-organizational meeting. Board officers are: Craig Olson from District 7, President; Daniel Kingsley from District 6, Vice President; Mike Forsman from District 2, Secretary; and Jeff Sheldon from District 4, Treasurer.