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Annual Reports

Minnkota and its power partners (Square Butte and Northern Municipal Power Agency) are proud to present their annual reports to members every year, which include capital project highlights, community successes, financial standings and much more.

As a not-for-profit electric cooperative, Minnkota provides its member-owner distribution cooperatives with at-cost electric service. Therefore, Minnkota does not sell shares of stock to outside investors. Minnkota has long-term wholesale power contracts with its 11 member cooperatives. Rates to the members are set by the Minnkota Board of Directors to recover all costs and provide margins sufficient to meet lender requirements and established financial goals. Minnkota strives to maintain investment-grade financial ratings. The cooperative's current financial ratings are:

Standard & Poor's:

A- rating
Stable outlook

Fitch Ratings:
BBB+ rating
Stable outlook

Moody's Investor Service:
Baa1 rating
Stable outlook
Minnkota 2023 Annual Report Cover
Square Butte 2023 Annual Report Cover

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