2022 Audit Report

Our Company

Leadership Message

Our Team

2022 in Review

Our Services

2022 Audit Report

Our Customers

Our Brand Story

Heartland Energy is a non-profit wholesale public power provider serving municipalities in South Dakota, Minnesota, Iowa and Nebraska.

Our company works diligently to provide reliable power supply and keep rates stable. We strive to be a partner of choice to our customers for the benefit of their communities.

We offer a full suite of programs and services to our customers to help them grow and thrive.

Customer Energy Sales (MWh)

Customer Peak Demand (MW)

2022

Fuel Mix

Public Power

Heartland Energy joins over 2,000 community-owned, not-for-profit public power utilities across the nation. We provide communities unique advantages such as local control, safe and reliable power, and consumer focus.

Adam Graff honored with Award of Excellence

Graff was recognized in 2022 for a decade of outstanding service to Whelan Energy Center Unit 2, including serving as chair of Public Power Generation Agency's Engineering & Operations Committee.

Our Services

Economic Development

Energy

Efficiency

Workforce

Development

The energy industry is ever evolving.

We work every day to stay on top of the changes and to ensure the right decisions are being made today for a successful future.

We have evolved as a company to keep up with industry changes and set ourselves apart as a power supplier.

To better reflect who we are as a company and the services we provide, in 2022 we revealed a new company name, logo and brand.

Heartland Energy better reflects our mission and goals as we operate in today’s modern landscape.

Power with Purpose

Providing reliable, affordable electricity is at the core of our operations, but we’re doing that with a greater purpose in mind.

We are committed to going above and beyond for the communities we serve. We look out for the future of our customers, and partner with them to help ensure their long-term success.

The range of services we provide extends beyond the nameplate programs seen on our website. We seek to be subject matter experts to our customers on whatever issues may arise in their daily operations.

Workforce continues to be a challenge for many utilities and public power is no exception. We continued our workforce development program in 2022 offering tuition reimbursement for training and grant opportunities to assist with signing bonuses or moving expenses.

Our program assists with not only drawing qualified talent but retaining those employees.

We continue providing our incentive programs to promote economic development as well as energy efficiency. We partner with our customers to help their communities grow as well as encourage the most efficient use of electricity.

We also continue to be a resource to our customers. Whether it’s a question on rates, markets, load management, or renewable energy credits, we are here to help.

The purpose behind our power is what makes us stand out, and our new name better reflects all the services we provide and our commitment to our customers.

Stability in chaos

The year 2022 was a volatile one for many utilities. It was a year of record inflation and many utilities experienced high natural gas prices, high energy market prices, and supply chain issues, resulting in overall high energy prices.

Fortunately, Heartland Energy did not have to raise rates for our customers going into 2023. Fuel cost of our coal-fired baseload resource, Whelan Energy Center Unit 2, remained stable throughout the year, compared to natural gas fired generation.

Heartland Energy is fully hedged for our customers’ energy and corresponding market purchases compared to utilities that were taking a short position in the market when prices were low. We’ve also fixed prices of our supply contracts, again minimizing the risk of market increases.

Because of generation assets in SPP, as well as our bilateral contract in MISO, Heartland Energy is able to mitigate much of the risk of rising market prices.

While we do have to purchase energy from the market to supply load to our customers, we also sell generation produced by our assets into the same market. Our contract in MISO acts as a generator as well to provide stable pricing and offset market purchases no matter what the market price does.

All of this allows for an overall balance.

Bottom line: Because of our market position and a host of other decisions made over the past several years, Heartland Energy is providing rate stability to customers in a time of rising energy prices.

We will continue to make decisions with long-term success in mind. We look forward to what the future brings for Heartland Energy, and for our customers. While change is inevitable, we believe we are adequately equipped to adapt to those changes and succeed in the face of challenges.

2022 Audit Report

In Focus:

Students, partnerships bring affordable housing to Valentine, NE

Heartland Energy teams with city officials, stakeholders, and University of Nebraska students to create Sandhills Townhomes, a creative solution to a critical local issue.