Verendrye Electric Cooperative
Verendrye Electric Cooperative is a member-owned, not-for-profit rural electric distribution cooperative founded in 1939 in Velva, North Dakota. It distributes electricity to 16,862 meters across seven North Dakota counties serving homes, farms, businesses, and Minot Air Force Base through 4,622 miles of power lines.
- Company typePrivate
- Founded1939
- HeadquartersMinot, United States
- Headcount11–50
- GTM typeB2B and B2C
- OfferingServices
What Verendrye Electric Cooperative does
Verendrye Electric Cooperative is a member-owned, not-for-profit rural electric distribution cooperative founded on January 23, 1939, headquartered in Velva, North Dakota. It distributes electricity across a 4,800-square-mile service territory spanning seven counties (Ward, McHenry, Sheridan, and parts of Renville, McLean, Pierce, and Wells) to 16,862 main meters in homes, farms, commercial establishments, industrial users, municipalities, and Minot Air Force Base. The cooperative delivers power through 4,622 miles of distribution lines (2,324 underground and 2,298 overhead — the first regional cooperative to operate a majority-underground network) and reported an industry-leading 41-minute average outage time per meter in 2025.
The cooperative's core products include SmartHub (a web and mobile account management platform), the Off-Peak load control program that reduces members' bills in exchange for managed control of water heaters, AC units, heat pumps, grain dryers, irrigation systems, and backup generators during peak demand; Solar Pasture Well systems (over 300 deployed since 1991 for ranchers without utility access); rebates on energy-efficient heating and lighting; an EV time-of-use charging rate; and a consumer-owned generation buyback program. Capital is invested at roughly $8 million annually for line replacement, pole upgrades, and technology. The cooperative is also active in community programming through Operation Round Up grants (~$70,000 annually), the Youth Tour, scholarships, and a USDA-administered Revolving Loan Fund.
Verendrye operates under a regulated cooperative franchise with exclusive territorial rights. Revenue is generated through usage-based electricity sales, with FY2025 revenue of $58.8 million (up 10.6% from $53.2 million in 2024) following a 9.4% rate increase on March 1, 2025. The 2025 sales mix is industrial and large business 27%, commercial and small business 21%, farms 20%, cities/municipalities 20%, and military 13%. As a cooperative, margins are returned to members as capital credits against the $51 million patronage capital balance ($1.4 million returned in 2025). Wholesale power is procured through Central Power Electric Cooperative (which buys 90% from Basin Electric and 10% from WAPA hydropower), and VEC is a member-owner of both Basin Electric and Touchstone Energy. The 50-year Minot AFB electrical facility contract (awarded 2011) and expected load growth from its new helicopter facility and Sentinel missile system anchor a forward growth thesis after eleven years of flat kilowatt-hour sales near 600 million kWh annually.
Verendrye Electric Cooperative firmographics
Firmographics- Name
- Verendrye Electric Cooperative
- Legal name
- Verendrye Electric Cooperative
- Website
- https://verendrye.com
- Company type
- Private
- Founded year
- 1939
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Verendrye Electric Cooperative is a member-owned, not-for-profit rural electric distribution cooperative founded in 1939 in Velva, North Dakota. It distributes electricity to 16,862 meters across seven North Dakota counties serving homes, farms, businesses, and Minot Air Force Base through 4,622 miles of power lines.
- Ownership category
- akta.pro rank
Verendrye Electric Cooperative industry classification
Industry- Product category
- Electric Utility Services
- NAICS
- Electric Power Distribution (221122)
- SIC
- Electric Services (4911)
- akta.pro primary industry
- Electric Cooperatives (Rural/Member-Owned Utilities) (EUADABAC)
- akta.pro secondary industries
- Demand Response & Load Flexibility Services (EUAMAJAF), DER Financing, Leasing & Billing Platforms (TPO, PPA, On-Bill) (EUAMAJAJ)
Keywords
Where Verendrye Electric Cooperative is headquartered
LocationHeadquarters
- HQ city
- Minot
- HQ country
- United States
- HQ region
- North America
Offices4 records
Markets served
Verendrye Electric Cooperative business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Operations, Personnel, Infrastructure, Technology or R&D, Marketing or Sales
Revenue model
- Electricity Sales: Revenue from electricity distribution to residential, commercial, industrial, farm and military customers. 2025 revenue totaled $58.8 million. Sales mix: industrial and large business 27%, commercial and small business 21%, farms 20%, cities 20%, military 13%.
- Capital Credits (Patronage Capital): As a not-for-profit cooperative, margins are returned to members as capital credits based on electricity usage. Patronage capital of $51 million reported. Each year the board determines capital credits to be returned based on financial conditions and RUS requirements. $1.4 million returned to members in 2025.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | One-time rebate | Water Heater Rebate |
| Other | One-time rebate | Heat Pump Rebates |
| Other | One-time rebate | Commercial Lighting Rebates |
| Subscription | Annual | Weatherization and Electric Heating Financing |
| Usage-based | Monthly | EV Charging Rate |
| Subscription | Monthly | Off-Peak Electric Heat Rate |
| Subscription | Monthly | Budget Billing |
| Subscription | Monthly | Paperless Billing Credit |
| Subscription | Monthly | Auto Pay Checking/Savings Discount |
Go-to-market motion1 record
Distribution channels6 records
Marketing channels7 records
Verendrye Electric Cooperative product offering
Product offeringCore offering
Verendrye Electric Cooperative is a member-owned, not-for-profit electric distribution cooperative that distributes electricity across 4,800 square miles in seven North Dakota counties through 4,622 miles of power lines serving 16,862 main meters. It supplies electricity to homes, farms, commercial establishments, industrial customers, municipalities, and the Minot Air Force Base under a 50-year facility contract. Beyond power delivery, the cooperative offers member programs including the SmartHub account platform, energy efficiency rebates, off-peak load control, electric heating products, solar pasture wells, EV charging rates, consumer-owned generation interconnection, and community programs such as Operation Round Up grants, scholarships, and Youth Tour.
Product overview
Verendrye Electric Cooperative offers a unified suite of electricity distribution services for homes, farms, and businesses across seven North Dakota counties. The core offering centers on reliable electricity delivery supplemented by member programs including SmartHub (account management portal and mobile app), energy efficiency rebates, off-peak load control programs, electric heating products, and EV charging rates. The cooperative also provides consumer-owned generation interconnection, solar pasture wells, community programs including Youth Tour and Scholarships, Operation Round Up grants, and Revolving Loans for economic development. These products work together to deliver affordable, reliable power while supporting member savings and community development.
Differentiator
Problem solved
Functional benefit
Brands
- SmartHub: Online account management web portal and mobile app for members to pay bills, view usage, and manage accounts.
- Operation Round Up
- Touchstone Energy
Products and services
- Electricity Distribution Service Core electric distribution service delivering electricity to residential, commercial, industrial, agricultural, municipal, and military customers across 4,800 square miles in seven North Dakota counties via 4,622 miles of power lines. 2025 revenue totaled $58.8 million with sales mix of 27% industrial/large business, 21% commercial/small business, 20% farms, 20% cities, and 13% military.
- SmartHub Web portal and mobile app for member account management including billing, bill payment, paperless billing, Auto Pay, usage monitoring, notifications, and multi-account management. Available on iOS and Android app stores.
- Off-Peak Load Control Program Demand management program where members allow the cooperative to control water heaters, air conditioners, heat pumps, grain dryers, irrigation systems, and backup generators during peak usage in exchange for reduced off-peak electricity rates.
- Energy Efficiency Rebates Program Rebates including $600 for Marathon 105-gallon water heaters connected to the off-peak program, $125 per ton for air-to-air heat pumps (max $500 per building), $250 per ton for ground source heat pumps (max $1,000 per building), and $0.50 per watt saved up to $1,000 per building for commercial lighting retrofits.
- Electric Heating Products Electric heating products for sale or lease to members including Marathon 105-gallon water heaters, electric boilers, floor heating systems, plenum heaters, 5000-watt shop heaters, and baseboard/cove heaters.
- EV Charging Rate Program Time-of-use electricity rate for electric vehicle charging offering reduced rates from 10 p.m. to 6 a.m. for Level 2 chargers on a dedicated 240-volt circuit with a separate submeter; member responsible for meter installation costs.
- Solar Pasture Wells Solar-powered water pumping systems for ranchers to water cattle in locations without utility power lines. Systems installed since 1991 with over 300 systems deployed; ranchers lease the systems and Verendrye provides maintenance.
- Consumer Owned Generation Interconnection Interconnection program for members who own solar, wind, or other generation systems, offering buyback rates of 4 cents per kWh for systems under 50 kW and PURPA rates for larger systems.
- Revolving Loan Fund Low-interest loans at 2% interest from $5,000 to $100,000 funded by USDA, available to businesses, non-profits, government and tribal entities to create jobs and promote rural economic development, administered by Verendrye.
- Operation Round Up Grants Community grant program where members voluntarily round their monthly electric bills to the nearest dollar, distributing approximately $70,000 annually in grants to community organizations and individuals with medical expenses.
- Youth Tour Program Annual essay contest sending one high school sophomore or junior to an all-expenses-paid trip to Washington, D.C. to learn about government and cooperative principles.
- Scholarships Three $1,500 scholarships funded in partnership with Basin Electric, plus Dollars for Scholars scholarships in communities served by the cooperative.
Quantifiable outcome
- 41 minutes average outage time per meter in 2025 (well below state/national averages)
- +4 more outcomes
Companies that use Verendrye Electric Cooperative
Customer profileNamed customers6 records
Segments6 records
Ideal customer profiles6 records
Verendrye Electric Cooperative technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Verendrye Electric Cooperative partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core and minor.
- Central Power Electric CooperativecoreVerendrye purchases wholesale power from Central Power Electric Cooperative of Minot. Central Power serves as an intermediary to Verendrye and five other cooperatives. Because VEC is a member of Central Power, it is also a part owner of their facilities.
- Basin Electric Power CooperativecoreCentral Power buys 90% of its power from Basin Electric. Basin serves 140 distribution cooperatives in 9 states. VEC is a member and part owner of Basin Electric through its Central Power membership. Basin uses diverse energy sources including wind, solar, natural gas. Basin and VEC jointly offer three $1,500 scholarships to students.
- Western Area Power Administration (WAPA)coreCentral Power (VEC's supplier) buys 10% of power from WAPA, a federal power marketing agency that supplies hydropower from the Garrison Dam.
- Touchstone EnergyminorVerendrye is a Touchstone Energy cooperative. Members receive access to Touchstone Energy member benefits including Medora Musical discounts (15% with code TOUCH2026). Touchstone Energy provides cooperative branding and member benefits program.
Scale indicators11 records
Recent moves12 records
Expansion highlights6 records
Verendrye Electric Cooperative competitors and assessment
Company assessmentDirect peers
- McLean Electric Cooperative: A neighboring rural electric distribution cooperative headquartered in North Dakota serving a similar mix of residential, farm, and commercial members — directly comparable in scale, business model, and territory type to Verendrye.
- Slope Electric Cooperative: A North Dakota rural electric distribution cooperative serving farms, ranches, and small towns — operates the same member-owned, not-for-profit distribution utility model with comparable scale to VEC.
- KEM Electric Cooperative: A rural electric cooperative serving members in North Dakota, offering electricity distribution plus energy efficiency programs and member services analogous to Verendrye's SmartHub and off-peak offerings.
- Mor-Gran-Sou Electric Cooperative: A North Dakota member-owned electric distribution cooperative; structurally identical to VEC with similar agricultural/rural membership profile and overlapping Touchstone Energy affiliation.
- North Central Electric Cooperative: A North Dakota rural electric distribution cooperative serving farms and small communities with electricity service and member programs analogous to those offered by Verendrye.
- Oliver-Mercer Electric Cooperative: A member-owned distribution electric cooperative in central North Dakota; comparable in scale, territory profile, and operating model, and a fellow Touchstone Energy affiliate.
- Capital Electric Cooperative: A North Dakota electric distribution cooperative serving residential, agricultural, and commercial members in and around the Bismarck region — directly analogous cooperative business model and product mix to Verendrye.
- Dakota Valley Electric Cooperative: A North Dakota electric distribution cooperative serving rural members; comparable in scale, member-owned structure, and offerings such as rebates, off-peak programs, and renewable interconnection.
Broad incumbents
- Basin Electric Power Cooperative: Verendrye's Generation & Transmission wholesale supplier — Basin is a much larger generation-and-bulk-power cooperative serving 140 distribution co-ops across 9 states, making it a key comparable in the cooperative value chain above VEC.
Others
- Touchstone Energy: The national brand and services alliance that Verendrye participates in; useful contextual peer because it represents the broader cooperative ecosystem and indirect competitive benchmark for branding, benefits, and member engagement.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Verendrye Electric Cooperative social profiles
Digital presenceVerendrye Electric Cooperative financial estimates
Financial estimateRevenue estimate
Valuation estimate
Verendrye Electric Cooperative leadership team
Management profileNumber of profiles
Profiles17 records
Verendrye Electric Cooperative funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Verendrye Electric Cooperative M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Verendrye Electric Cooperative
What does Verendrye Electric Cooperative do?
Verendrye Electric Cooperative is a member-owned, not-for-profit electric distribution cooperative that distributes electricity across 4,800 square miles in seven North Dakota counties through 4,622 miles of power lines serving 16,862 main meters. It supplies electricity to homes, farms, commercial establishments, industrial customers, municipalities, and the Minot Air Force Base under a 50-year facility contract. Beyond power delivery, the cooperative offers member programs including the SmartHub account platform, energy efficiency rebates, off-peak load control, electric heating products, solar pasture wells, EV charging rates, consumer-owned generation interconnection, and community programs such as Operation Round Up grants, scholarships, and Youth Tour.
Is Verendrye Electric Cooperative a public or private company?
Verendrye Electric Cooperative is a private company. It is classified as management employee owned and is currently operating.
When was Verendrye Electric Cooperative founded?
Verendrye Electric Cooperative was founded in 1939. It employs 11 to 50 people.
Where is Verendrye Electric Cooperative based?
Verendrye Electric Cooperative is headquartered in Minot, United States, in the North America region.
How does Verendrye Electric Cooperative make money?
Two revenue lines are on record. Electricity Sales are the primary driver. The others are capital Credits (Patronage Capital).
Who are Verendrye Electric Cooperative's main competitors?
Direct peers on record are McLean Electric Cooperative, Slope Electric Cooperative, KEM Electric Cooperative, Mor-Gran-Sou Electric Cooperative, North Central Electric Cooperative, Oliver-Mercer Electric Cooperative, Capital Electric Cooperative and Dakota Valley Electric Cooperative. Basin Electric Power Cooperative is listed as a broad incumbent. Touchstone Energy is listed as an others.
Does Verendrye Electric Cooperative have an API?
No public API is recorded for Verendrye Electric Cooperative.
What industry is Verendrye Electric Cooperative in?
Verendrye Electric Cooperative's product category is Electric Utility Services. Its primary akta.pro industry code is EUADABAC, Electric Cooperatives (Rural/Member-Owned Utilities), with a secondary code of EUAMAJAF, Demand Response & Load Flexibility Services. Its NAICS code is 221122 and its SIC code is 4911.