Heartland Energy announced that wholesale power rates will remain steady for 2026 -- marking the ninth consecutive year without an increase.
The board of directors approved the 2026 operating and capital budget at their October meeting, Russell Olson, CEO of Heartland Energy, said in his “CEO’s Report.”
Heartland is a South Dakota-based joint action agency.
“Maintaining stable rates for nearly a decade is something we’re very proud of. It demonstrates the financial strength of our organization and our dedication to helping customers plan and budget with confidence,” Olson said.
He noted that Heartland Energy’s ability to hold rates flat stems from a conservative approach to fiscal management and a diverse power supply. “Disciplined financial practices have resulted in a healthy financial position backed by strong credit ratings and long-term rate stability for customers,” he wrote.
“Our diverse power supply portfolio provides reliable power to customers, while ensuring protection against market volatility. Owning generation resources, including Whelan Energy Center Unit 2, helps shield customers from any unpredictable market swings,” Olson noted.
Overall, operating costs of WEC 2 are expected to remain stable through 2026, and other power supply costs will also remain mostly unchanged.
“While keeping expenses steady is key to maintaining low rates, we are also consistently looks for innovative methods to help customers grow,” Olson said.
By supporting new development and attracting new businesses, particularly larger users of electricity, “Heartland not only boosts local economies, but also strengthens the long-term stability of our customer base.”
The Energy ONE Incentive, launched in 2013, is designed to attract large users of electricity to customer communities, he noted. The program offers a competitive energy rate with no demand charges for the first few years of operations, helping businesses get established with predictable, affordable pricing.
Most recently, Heartland Energy’s Demand-Adjusted Technology Advantage (DATA) program was launched to draw data centers to customer communities while ensuring reliable and cost-effective energy. The program provides an interruptible rate designed for data centers that can adjust power usage during peak demand times.
In a recent episode of APPA's Public Power Now podcast, Casey Crabtree, Director of Economic Development at Heartland Energy, provided details on Heartland Energy’s DATA program.
“We believe in adding value to the communities we serve. Our economic development programs are one way we can do that. Attracting new loads not only helps the community, but our customer base as a whole,” Olson said.
“As Heartland looks to the future, long-term rate stability will remain a key focus of operations. By growing together with our customers and fostering economic opportunity, Heartland continues to deliver on its mission to provide reliable, affordable energy — and to help communities thrive for generations to come,” he wrote.
