News > Member Notice: Rate Adjustment 2026

Member Notice: Rate Adjustment 2026

April 17, 2026

MEMBER NOTICE: RATE ADJUSTMENT BEGINS MAY 1, 2026

Electric cooperatives like Stearns Electric Association are not-for-profit, meaning we work toward a zero-based budget by the end of each year. However, projections for 2026-2030 indicate that Stearns Electric needs an increase in revenue to continue providing our members with the reliable electricity you depend on. The new rates were determined after a recent Cost-of-Service study, conducted for Stearns Electric Association by an independent consulting firm.

In March 2026, the Stearns Electric Board of Directors approved a Cooperative overall revenue increase of 3.3 percent effective May 1, 2026. Additionally, Stearns Electric will move to an annual rate adjustment approach beginning in 2026.

Find more information on our Rate Adjustment 2026 website.