Basin Electric submits filings to Federal Energy Regulatory Commission
Bismarck — On Sept. 30, Basin Electric Power Cooperative submitted filings to the Federal Energy Regulatory Commission (FERC) to ensure it is in compliance with relevant FERC rules and regulations when Basin Electric becomes subject to FERC’s jurisdiction on Nov. 1.
As Basin Electric no longer uses Rural Utilities Service financing, and because two of Basin Electric’s members have or will become subject to FERC jurisdiction, Basin Electric will no longer qualify for an exemption from FERC regulation under the Federal Power Act on Nov. 1. The large growth of retail sales in the Bakken is what will trigger one of Basin Electric’s members to become FERC jurisdictional.
“As a cooperative, we continue to evolve to meet our member-owners’ needs,” said Paul Sukut, Basin Electric CEO and general manager. “As our members grow, this is a natural next step to ensure compliance with regulatory rules.”
Basin Electric’s filings cover wholesale power contracts, wholesale power rate schedules, market-based rate authority, transmission tariffs, transmission service agreements, and authority to issue short and long-term debt.
“While preparing our filing with FERC was time consuming, we are confident being subject to FERC regulation should not disrupt the way the cooperative has historically operated,” said Mark Foss, Basin Electric senior vice president and general counsel.
Subsequent filings will be completed in the next weeks, with comments on the September filings due by Oct. 22.