English (United States)
As the days grow shorter and the air turns crisp, many of us are drawn to the warmth of a fire. There’s something timeless about gathering around a campfire, sharing stories, reflecting on where we’ve been, and imagining where we’re headed. In those moments of connection, we find common ground and purpose.
At NPPD, we believe in the power of stories, and we have one that is constantly evolving. It’s a story that began with grit, unity and a deep commitment to the people we serve. And despite everything going on in the world today, those themes in our story are unwavering. For more than 50 years, we’ve promised to be there when our customers need us to power their days and lives. That promise holds true today, especially as we move into an exciting new chapter.
Across the country, electric rates are rising, with residential rates increasing by 13% since 2022. This upward trend is driven by growing demand, new generation, inflation, supply chain restraints, and the need for major infrastructure upgrades.
But there is a notable departure from that upward trend: public power utilities have NOT seen such large increases.
In fact, here’s a spoiler alert - NPPD is keeping rate increases modest in 2026: just 1% for wholesale customers and 3% for retail customers. This follows years of either no or extremely minimal rate increases for these two customer segments.
Proving public power’s value, researchers from Lawrence Berkeley National Laboratory recently found that electricity prices charged by investor-owned utilities are higher and have risen faster than those charged by public power utilities. In fact, pending rate hike requests for IOUs are at their highest level since the 1980s, and this trend is expected to continue.
Amidst these challenges, our story at NPPD stands out. In Nebraska, and particularly at NPPD, we’ve worked hard to shield our customers from these pressures and remain one of the most cost-competitive utilities in the country. Last year, our wholesale rates ranked in the lowest 12.5% when benchmarked against more than 800 utilities nationally, and our retail rates were in the lowest 6.5% of more than 2,600 utility providers benchmarked by the Energy Information Administration.
That’s thanks to smart budgeting, cost-conscious teammates and strategic long-term planning.
Since 2023, we’ve added almost 200 megawatts of new wholesale load. We’re budgeting to add another 100 megawatts in load growth in 2026, and more than 570 megawatts total in the next few years. To meet that rapidly accelerating demand for power, we’re investing in new generation, modern infrastructure and secure technology, while also ensuring our existing facilities are properly upgraded to maximize their value and potential. At the same time, we’re further increasing the diversity of our resource mix and staying focused on reliability and resiliency.
Yet, even as we face the largest buildout of generation and infrastructure since the 1970s, we’re keeping rate increases modest in 2026: again, just 1% for wholesale customers and 3% for retail customers.
For the eighth year in a row, we’re also returning money to our wholesale customers: $30.8 million this year alone, with nearly $395 million returned over this time period. This credit comes from money we were able to save in excess of the 10% limit we have within what we call our rate stabilization fund, created specifically to keep rates steady.
Building strong, long-term customer relationships is also key to these successes. We’re proud to share that, to date, more than 90% of our wholesale customers have signed new 35-year contracts with us. These long-term partnerships will allow us to spread out the cost of new generation and infrastructure and lessen rate impacts over time.
Public power is strongest when we all work together for the greater good. It’s about trust, a foundation laid over time and reinforced by every interaction.
As we gather around our own metaphorical campfire this season, I want to thank you for being part of our story. Whether you’re a customer, a teammate or a community partner, you are the reason we do what we do.
We’re proud to use our past story of success to tell a new story of growth. And we’re committed to affordably powering Nebraska’s tomorrow, together.
Sources:
