Beltrami Electric Cooperative

What Beltrami Electric Cooperative does

Beltrami Electric Cooperative is a not-for-profit, member-owned electric distribution cooperative founded in 1940 and headquartered in Bemidji, Minnesota. It serves 18,638 members through 22,740 main meters across a 3,000-square-mile service territory covering Beltrami, Cass, Clearwater, Hubbard, Itasca, and Koochiching counties in northern Minnesota. The cooperative delivers electricity to residential households, farms, local businesses, and schools through owned infrastructure of 3,613 miles of distribution line (75% underground, 25% overhead) and 24 substations, with a generation portfolio mix of 34% wind, 9% hydro, 55% baseload, and 3% other sourced primarily through Minnkota Power Cooperative.

The cooperative's technology stack centers on load management and demand response systems, including ripple control signals transmitted over power lines to manage off-peak loads such as thermal storage heating, dual-fuel systems, water heaters, and dryers, with participating members receiving rates approximately 44% lower than standard rates. Member-facing platforms include SmartHub (web and mobile application for account management, bill payment, and outage reporting) and MyMeter (free hourly/daily/monthly kWh usage tracking). Wholesale power is procured through Minnkota Power Cooperative, which manages generation resources and peak demand management.

Revenue is generated primarily through usage-based electricity sales to members, with additional streams from off-peak program participation, electric service construction fees, membership fees ($50 per member), and security deposits. As a not-for-profit cooperative, operating margins are returned to members through capital credits retirements, with $35.3 million returned cumulatively through 2025. The cooperative offers member-facing programs including the Northern Solar Community Solar Garden, Infinity Renewable Energy wind program, BEC PrePay billing, EV charging rebates, Home Energy Assessments, HeatSmart new construction planning, and product resale partnerships with Steffes (electric thermal storage heating) and Marathon/Rheem (water heaters). Rates are regulated and adjusted periodically, with the most recent adjustment effective April 2026.

Name

Beltrami Electric Cooperative

Legal name

Beltrami Electric Cooperative Inc.

Website

https://beltramielectric.com

Company type

Private

Founded year

1940

Operating status

Operating

Headcount range

11–50 employees

Short description

Beltrami Electric Cooperative is a not-for-profit, member-owned electric distribution utility founded in 1940, serving 18,638 members across 3,000 square miles in northern Minnesota through 3,613 miles of line and 24 substations. It delivers electricity to residential, agricultural, commercial, and institutional customers via off-peak load management programs, renewable energy options, and a member-facing digital platform.

Ownership category

akta.pro rank

Product category

Electric Utility Distribution Services

NAICS

Electric Power Distribution (221122), Electric Power Generation, Transmission and Distribution (2211), Utilities (22)

SIC

Electric Services (4911)

akta.pro primary industry

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

akta.pro secondary industries

Retail Electric Providers / Competitive Distribution Utilities (where applicable) (EUADABAE), Electric Distribution System Owners (Wires-Only Companies) (EUADABAI), Resilience & Backup Power Solutions (Critical Facilities, Islanding) (EUAMAJAK), Distributed Storage (Behind-the-Meter Batteries) (EUAMAJAE)

Keywords

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

Headquarters

HQ city

Bemidji

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Infrastructure, Supply Chain, Personnel, Operations, Technology or R&D

Revenue model

1. Electricity Sales: Core revenue from selling electricity to residential, commercial, agricultural, and industrial members. Revenue covers wholesale power costs, transmission/distribution costs, and provides operating margin. Not-for-profit structure means margins are allocated back to members as capital credits.
2. Off-Peak Program Participation: Members with qualifying electric heating equipment (thermal storage, dual-fuel, water heaters) receive lower off-peak rates in exchange for load management control during peak demand periods.
3. Electric Service Construction: Fees charged for new service construction and service improvements including contribution-in-aid-of-construction costs, meter base requirements, and installation charges.
4. Membership Fees and Deposits: $50 membership fee required for all consumers. Security deposits may be required based on credit evaluation. Deposits earn interest and are refunded after 12 months of on-time payments.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels7 records

Core offering

Beltrami Electric Cooperative distributes electricity to approximately 18,638 members across six counties in northern Minnesota through an exclusive regulated service territory. The cooperative provides residential, commercial, agricultural, and institutional electric service with usage-based billing, demand response/load management programs offering reduced off-peak rates, and member-focused programs including renewable energy options, energy efficiency assessments, and equipment resale (GenerLink, Marathon water heaters, Steffes ETS heating). Any operating margins are returned to members as capital credits under the not-for-profit cooperative structure.

Product overview

Beltrami Electric Cooperative operates as a not-for-profit electric utility serving over 18,500 members across six counties in northern Minnesota. The company's product portfolio centers on its SmartHub web and mobile application as the primary member engagement platform for account management, bill payment, and usage monitoring. The core offering includes traditional electricity service with several add-on programs: load management/off-peak heating programs that provide reduced rates in exchange for demand response participation; renewable energy options including the Northern Solar community solar garden and Infinity wind energy program; energy efficiency services such as home energy assessments and HeatSmart planning for new construction; and specialized products including Marathon water heaters and Steffes electric thermal storage heating systems. Additional offerings encompass electric vehicle charging infrastructure with rebates, BEC PrePay billing, and GenerLink generator transfer switches. The cooperative integrates these offerings through its member portal ecosystem while maintaining partnerships with manufacturers like Rheem/Marathon and Steffes for specialized equipment.

Differentiator

Problem solved

Functional benefit

Brands

• Northern Solar: Community solar garden program allowing members to subscribe to solar energy panels without installing equipment at their homes.
• Infinity Renewable Energy

Products and services

• SmartHub

Quantifiable outcome

• Off-peak electric rate approximately 44% lower than standard rate
• +3 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Touchstone Energy CooperativescoreStrategic or Co-development Partner · 1 January 1940National network of electric cooperatives across 46 states providing resources, brand identity, and partnership leverage. Beltrami Electric is a Touchstone Energy member, utilizing the cooperative branding and accessing shared resources and best practices from the national network serving 30 million member-owners.
• Minnkota Power CooperativecoreTechnology or IntegrationWholesale power supplier for Beltrami Electric. Manages load management/ripple control signals sent over power lines. Provides generation portfolio including wind, hydro, and baseload power. Responsible for peak demand management and wholesale energy purchasing decisions affecting off-peak program availability.
• Steffes CorporationcoreChannel Partner/ Reseller/ DistributorBeltrami Electric is an authorized dealer of Steffes Electric Thermal Storage (ETS) heating equipment. Also offers manufacturer rebates for Steffes products connected to load management program. Steffes products manufactured in Dickinson and Grand Forks, North Dakota.
• Marathon Water Heaters (Rheem)coreChannel Partner/ Reseller/ DistributorBeltrami Electric is the area retailer and wholesale distributor of Marathon water heaters (manufactured by Rheem). Connected to load management program for energy savings and rebate eligibility. Marathon heaters include lifetime tank warranty and 6-year parts/labor warranty.
• GenerLinkminorChannel Partner/ Reseller/ DistributorBeltrami Electric offers GenerLink meter collar devices allowing safe connection of portable generators during outages. Provides 30-amp or 40-amp options with 20-ft power cord including sales tax and installation.
• Cooperative DevelopmentminorOthersProvides private facility locating services for a fee including water, sewer, sprinkler systems, underground power lines for residential and commercial directional drilling projects in north central Minnesota.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Connexus Energy: Large Minnesota electric cooperative (Touchstone Energy) serving suburban and exurban members north of the Twin Cities. Offers load management, rebates, EV programs, and community solar at greater scale, providing a larger-cooperative reference point for BEC's program mix.
• Lake Region Electric Cooperative: Rural Minnesota Touchstone Energy electric cooperative serving a similar low-density service territory in west-central Minnesota with comparable load management programs, off-peak heating rates, and member-owned governance. Most direct operational comparable to Beltrami.
• Minnesota Valley Electric Cooperative: Touchstone Energy member cooperative serving rural southern Minnesota with comparable member-governance, AMI, and renewable programs. Comparable scale and regulatory environment to BEC.
• Crow Wing Power: Touchstone Energy member cooperative serving rural central Minnesota with similar member count, AMI deployment, load management/off-peak programs, and community solar offerings. Direct format-and-operating model peer.

Others

• Steffes Corporation: Manufacturer of Electric Thermal Storage heating equipment, sold through BEC and partner utilities. Equipment-supplier ecosystem participant whose ETS products anchor Beltrami's off-peak heating program economics.
• Touchstone Energy Cooperatives: National network/cooperative brand of which BEC is a member. Touchstone provides shared marketing, branding, and operational services to over 30 million member-owners across 46 states, and BEC derives shared-services scale from participation.
• ITC Midwest: Regulated independent transmission operator in the upper Midwest. Adjacent infrastructure provider that operates high-voltage transmission assets interconnecting with BEC's distribution substations; not a direct competitor but a relevant grid-systems peer.
• Minnkota Power Cooperative: Wholesale generation and transmission cooperative supplying BEC and other distribution co-ops in the region. Upstream partner that defines BEC's generation mix (34% wind, 9% hydro, 55% baseload, 3% other) and manages ripple-control load signaling.
• GenerLink (Reliance Holdings): Manufacturer of meter-collar transfer switches allowing safe portable-generator interconnection during outages. Beltrami is an authorized dealer; relevant as a resilience-product ecosystem peer in BEC's outage-management offering.

Broad incumbents

• Xcel Energy (Minnesota): Largest investor-owned electric utility in Minnesota, serving urban and adjacent rural areas. Provides the dominant rate-design and program benchmark against which Beltrami's cooperative offerings (off-peak, EV, community solar) compete for member mindshare.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/BeltramiElectric

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

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 Beltrami Electric Cooperative