A community of cooperative members gathered at the Merritt Elementary School in Mountain Iron, Minn., for the annual membership meeting on Thursday evening, April25,2024.Morethan300 members and guests gathered to hear that despite the high cost of materials, Lake Country Power did not need to adjust rates in 2024, among other topics of interest.
MarkBakk,LakeCountryPower general manager, reported that material cost increases have stabilized but are still 70% higher than from pre-pandemic levels. Lead times for materials are delayed by months or even years. These challenges have forced Lake Country Power to plan projects up to three years in advance.
Bakk also reported about the value additional crews are bringing to the cooperative during an era when it’s hard to find contractors available to work, and those available are costly to hire. The in-house crews are helping Lake Country Power save money on construction projects, age-related line replacements and right-of-way clearing.
