What Steele-Waseca Cooperative Electric does

Steele-Waseca Cooperative Electric (SWCE) is a member-owned rural electric distribution cooperative incorporated in Minnesota and headquartered in Owatonna, serving approximately 11,900 meters across nine districts in Steele and Waseca counties. Founded in 1936 and recently celebrating its 90th Annual Meeting in June 2026, SWCE operates 20 substations and 2,200 miles of distribution line, with a new Medford substation under construction for September 2026 energization. Its core operational technology is a conventional distribution grid augmented by load management infrastructure (817+ traditional receivers and a newer controlled-thermostat program) and the SmartHub member-facing platform, which is a third-party NISC-powered mobile and web application for billing, usage monitoring, and outage/load-control visibility.

SWCE generates revenue by distributing electricity purchased wholesale from Great River Energy (a generation-and-transmission cooperative serving 25+ member systems) to residential, agricultural, and commercial members under regulated rate schedules, with margins returned to members as capital credits rather than external shareholders. The cooperative supplements its core distribution business with rebate and renewable energy programs (ChargeWise EV chargers, Revolt wind energy, POWRE solar rebates, SUNNA community solar, Wellspring RECs) and load management programs (dual fuel, curtailment, interruptible). It also earns limited ancillary revenue through sponsorships, classifieds, and community programming, while its governance is exercised through a nine-member elected board with district representation.

The business model is structurally low-growth and rate-regulated, with growth driven by meter additions, load growth within the service territory, and rate adjustments. In 2026, SWCE secured a $29.75 million USDA loan, transitioned leadership to Kelly Hovel (sharing GM duties with Goodhue County Cooperative Electric Association), and opened public evaluation of a potential consolidation with Goodhue County — a move that, if approved, would meaningfully expand the cooperative's footprint and member base.

Name

Steele-Waseca Cooperative Electric

Legal name

Steele-Waseca Cooperative Electric

Website

https://swce.coop

Company type

Private

Founded year

1936

Operating status

Operating

Headcount range

11–50 employees

Short description

Steele-Waseca Cooperative Electric is a member-owned rural electric distribution cooperative headquartered in Owatonna, Minnesota, serving approximately 11,900 residential, agricultural, and commercial meters across nine districts via 20 substations and 2,200 miles of distribution line.

Ownership category

akta.pro rank

Product category

Rural Electric Distribution Utility

NAICS

Electric Power Generation, Transmission and Distribution (2211), Electric Power Distribution (221122)

SIC

Electric Services (4911)

akta.pro primary industry

Electric Cooperatives (Rural/Member-Owned Utilities) (EUADABAC)

akta.pro secondary industry

Electric Distribution System Owners (Wires-Only Companies) (EUADABAI)

Keywords

• Electric distribution services
• Rural electric cooperative
• Load management programs
• Renewable energy rebates
• Member-owned utility

Headquarters

HQ city

Owatonna

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Supply Chain, Others

Revenue model

1. Electricity Distribution: Revenue generated from electricity distribution to 11,900 member meters. Rates set to cover operational costs while maintaining affordable pricing for members. Capital credits returned to members based on usage.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

Steele-Waseca Cooperative Electric is a member-owned electric distribution cooperative that delivers electricity to approximately 11,900 meters across 9 districts in Steele and Waseca counties in southern Minnesota. The cooperative operates 20 substations and 2,200 miles of distribution lines, and offers members load management programs, renewable energy options, EV charging incentives, and digital account management through the SmartHub platform.

Product overview

Steele-Waseca Cooperative Electric is a rural electric utility cooperative providing electricity distribution to approximately 11,900 meters across 9 districts in southern Minnesota. The cooperative operates 20 substations and 2,200 miles of power lines. Its member-facing offerings include SmartHub (a mobile/web account management portal for bill payments, usage monitoring, and newsletter access), electric vehicle charging programs (ChargeWise rebates and Revolt wind energy), solar/renewable energy programs (POWRE rebate program and member-owned generation), and energy management load control programs. The cooperative also provides rebates for various energy-efficient products and publishes a monthly Sparks newsletter with bill credit drawings.

Differentiator

Problem solved

Functional benefit

Brands

• SmartHub: Member-facing mobile and web application for account management, bill payment, and usage monitoring.
• Sparks Newsletter
• ChargeWise
• Revolt
• POWRE
• SUNNA
• Wellspring

Products and services

• SmartHub Member-facing mobile and web application that enables cooperative members to make payments, view bills, check usage and payment history, and access the Sparks newsletter.
• ChargeWise Level 2 EV Charger Rebate Rebate program offering up to $500 toward materials and electrician labor for qualifying Level 2 electric vehicle charger installations by cooperative members.
• Revolt EV Wind Energy 100% wind energy program for battery electric vehicles (BEV) and plug-in hybrid electric vehicles (PHEV) providing renewable energy credits to participating members.
• POWRE Solar Renewable Rebate Program Rebate program for member-owned solar and wind generation systems to incentivize renewable energy adoption within the cooperative service territory.
• Energy Management Programs (Dual Fuel, Curtailment, Interruptible) Load management programs including dual fuel, curtailment, and interruptible rate options that provide monthly bill reductions for allowing controlled thermostat management during peak demand periods.
• Sparks Newsletter Monthly member newsletter featuring bill credit drawings of $15-35, energy tips, and cooperative news, accessible via SmartHub app and email distribution.
• Outage Map Real-time interactive web map showing outage locations and restoration status for members to monitor power outages across the cooperative service territory.

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered core and minor.

• Great River EnergycoreStrategic or Co-development PartnerWholesale power supplier providing generation resources to Steele-Waseca and 25 other member cooperatives. Jointly developed protections against large load risks (data centers) requiring new large loads to prepay for equipment and procure their own generation if needed.
• Touchstone EnergyminorStrategic or Co-development PartnerNational cooperative branding and marketing partnership providing energy efficiency resources, home energy adventure tour tools, and cooperative identity standards.
• Goodhue County Cooperative Electric AssociationcoreStrategic or Co-development PartnerNeighboring electric cooperative considering potential consolidation. Currently sharing General Manager Kelly Hovel (from Goodhue County) starting July 1, 2026, following retirement of SWCE's Syd Briggs after 17.5 years. Public meetings with membership required before any consolidation vote.

Scale indicators5 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Goodhue County Cooperative Electric Association: Neighboring Minnesota electric distribution cooperative and explicit consolidation counterpart for SWCE. Same cooperative business model, same Great River Energy wholesale supplier, directly comparable rural distribution footprint.
• Connexus Energy: Large Minnesota member-owned electric distribution cooperative serving residential, agricultural, and commercial members. Same cooperative ownership model and rural/suburban distribution profile, though materially larger in scale.
• Dakota Electric Association: Minnesota electric distribution cooperative providing service across Dakota County and surrounding areas. Comparable member-owned cooperative structure and Great River Energy supply relationship.
• Minnesota Valley Electric Cooperative: Rural Minnesota electric distribution cooperative serving agricultural and residential members in a contiguous southern-Minnesota footprint. Same business model, similar customer mix, and similar grid-modernization profile.
• Freeborn-Mower Cooperative Services: Member-owned electric cooperative serving Freeborn and Mower counties in southern Minnesota, adjacent to SWCE's territory. Directly comparable rural distribution cooperative with similar load profile.
• People's Energy Cooperative: Minnesota member-owned electric distribution cooperative serving rural and small-town members with similar residential/agricultural/ commercial segmentation and load-management programs.

Others

• Great River Energy: Wholesale power supplier and generation/transmission cooperative that serves SWCE and 25 other member distribution cooperatives. Not a direct competitor but the critical upstream partner for SWCE's power supply.
• Touchstone Energy Cooperative: National network/brand cooperative of which SWCE is a member. Provides shared marketing, energy-efficiency resources, and cooperative identity standards relevant to SWCE's member engagement model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/SteeleWasecaCooperativeElectric

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Steele-Waseca Cooperative Electric