LA CROSSE, WI—Dairyland Power Cooperative’s 2025 Annual Meeting was held today at the La Crosse Center. Jenny Scharmer, Chair of the Board and Director representing MiEnergy Cooperative, presided over the meeting.
The theme of the meeting was Seize the Day, Shape the Future, symbolic of Dairyland’s commitment to exceed expectations as a critical services provider for generations to come. The theme represents Dairyland’s determination to bring power, opportunity and prosperity to the communities we serve.
“We want to shape the future, not be shaped by it,” said President and CEO Brent Ridge. “With a constantly evolving business, political and regulatory landscape, it is vital to have a Plan A, but also a Plan B, C and D.”
Ridge highlighted Dairyland’s major accomplishments from the past year, including the completion of the Cardinal-Hickory Creek transmission line and major grant awards benefitting reliability, resource diversification and cost containment. “Since we gathered here for last year’s annual meeting, the Dairyland team has realized successes and launched plans. As the saying goes, it takes 10 years to be an overnight success. That was more than true for Cardinal- Hickory Creek, which had over 160 renewable energy projects waiting for it to come into service last fall,” said Ridge. “The New ERA grant has the potential to be transformational and we are grateful to have secured the award for our membership, with crucial support from the Trump administration.”
Ridge discussed Dairyland’s 10-year trajectory, noting that shaping the future does not come without challenges. “It is not enough to keep up with the pace of change, we must stay ahead of it. Power supply planning is at a critical crossroads as is the need to expand transmission to accommodate growth and resource diversification. Based on guidance from the Board, we will persevere, pivot when needed and get the work done for our rural electric membership.”
Guy Benson, host of the Guy Benson Show, author and political editor, provided the keynote address: A Look at the Political Landscape. Ridge joined Benson for the “Riverside Chat” keynote conversation, which included questions and answers with the audience. “It was a pleasure to return to one of the most important battleground states in the country to discuss the politics of the day with a great audience,” said Benson.
Dairyland Executive Vice President and Chief Financial Officer (EVP/CFO) April Wehling provided a 2024 Financial Report: “I am pleased to report that Dairyland is financially strong and stable. We remain in alignment with our vision to innovate and deliver value as a premier, member- driven cooperative through safe, reliable, cost-competitive and sustainable solutions.
“For the fifth consecutive year, we are projecting our wholesale rate to be in the top quartile in comparison to our peers. Since 2020, the Dairyland wholesale rate has been less than the annual consumer price index for inflation. Our average rate increase between 2019-2024 was just 0.4%.
“Economics, as well as diligent asset and cost management, contributed to Dairyland’s strong financial performance in 2024. Total margins were $25.8 million, exceeding budgeted margins of $25.6 million. Total operating revenues were $13.4 million below budget.
“The Dairyland system’s all-time peak demand remains at 1,178 MW, a record that was set in August 2023. Though 2024 was generally a mild year for weather, the Dairyland system’s peak for 2024 nearly reached this level again with demand of 1,168 MW in August. The reliability and diversification of Dairyland’s portfolio is always important. It’s even more critical during these periods of high demand.
“Power Costs, which include fuel and purchased power, were $13.9 million below budget due to historically low natural gas prices and also lower than planned energy market prices. Divisional costs, which represent Dairyland’s operating and maintenance expenses, were $0.7 million below budget. Fixed costs were $0.9 million below budget, driven by lower depreciation expense.
“In 2024 Dairyland’s Board of Directors approved Capital Credit Retirements of $5.39 million, continuing its strong history of Capital Credit Retirements. Over Dairyland’s history, we have returned $160.1 million to our Class A Member Cooperatives,” said Wehling.
The annual meeting, which was live streamed for employees and members who were unable to attend, included a Q&A session with Executive Team members, recognition of award recipients and an Energy Expo with educational booths.
About Dairyland Power Cooperative: Headquartered in La Crosse, Wis., Dairyland provides the wholesale electrical requirements for 24 distribution cooperatives and 27 municipal utilities. These cooperatives and municipals, in turn, supply the energy needs of over 750,000 people in the four-state service area. Dairyland delivers electricity via 3,720 miles of transmission lines and 400 distribution substations located throughout the system’s 44,500 square mile service area. Visit www.DairylandPower.com.
