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A COMMITMENT TO SERVING OUR COMMUNITY <br />A LETTER FROM <br />THE GENERAL MANAGER <br />Since the beginning of electric utility services more than <br />a century ago, our community has always been divided <br />between service providers. In 2019, we reached a major <br />FYJTUJOH <br />milestone, eliminating that divide with the completion <br />UFSSJUPSZ <br />of a multi-year electric service territory transfer initiative <br />20 percent in four <br />years. The vision to invest in electric service territory by <br />previous Elk River Municipal Utilities governance and <br />leadership has helped to build the foundation <br /> <br />This foundation of providing electric services <br />to our whole community positions our utility <br />for the future and was a critical component <br />for a 5 percent electric rate reduction in <br />2019 and no rate change for 2020. <br /> <br /> <br />we serve: our consumer-owners, <br />FSNV <br />our customers, our community. <br />FMFDUSJD!TFSWJDF! <br />- Troy Adams, P.E., <br />UFSSJUPSZ!FYQBOTJPO <br /> General Manager <br />COMPETITIVE <br />Providing our community with the best value for the <br />to reduce prices while increasing our service territory <br />multiyear initiatives. Another crucial element of our rate <br />reduction was the competitive pricing of our wholesale <br />power provider, the Minnesota Municipal Power Agency <br />Reducing our rates by 5% in 2019 put approximately <br />$1,780,000 back into the pockets of our consumer-owners. <br />and appropriate margins. <br />71 <br />