Heartland Power

What Heartland Power does

Heartland Power Cooperative is a member-owned, not-for-profit electric distribution cooperative that delivers safe, reliable, and affordable electricity to approximately 5,200 homes, farms, businesses, and industrial customers across 12 counties in North Central Iowa (Hancock, Kossuth, Winnebago, Worth, Cerro Gordo, Chickasaw, Floyd, Howard, Mitchell) and South Central Minnesota (Faribault, Freeborn, Mower). The cooperative operates 1,948 miles of primary distribution line through dual offices in Thompson and St. Ansgar, Iowa, and sources wholesale electricity through a longstanding partnership with Dairyland Power Cooperative, its generation and transmission (G&T) provider.

The cooperative's product portfolio centers on regulated electric distribution, augmented by member-facing programs. SmartHub serves as the digital member portal (web plus iOS/Android applications), supporting payments, billing, daily and monthly usage tracking, and notifications. The Community Solar program delivers generation through an 852 kW array (2,706 × 315-watt panels) east of St. Ansgar, with members purchasing subscription units that produce approximately 400 kWh per year. The Load Management Program cycles participating members' electric water heaters and electric heat during peak periods, achieving over $4 million in annual system savings and reducing equivalent peak capacity by 60 MW summer and 152 MW winter. Additional offerings include Co-op Connections Savings (a multi-category discount network), Iowa Choice Renewables, Energy Star appliance rebates, a Security Light Maintenance subscription at $3/month, and standardized service fees for connection, delinquent posting, and after-hours service. Heartland participates in the Touchstone Energy Cooperatives national brand network alongside 700+ partner systems.

As a not-for-profit cooperative, Heartland operates under a capital credits model in which margins remaining after operating costs are allocated to members based on usage and returned over time. Since 1998, approximately $14.8 million in capital credits and special refunds have been nearly returned to members. The cooperative is governed by an elected eight-member Board of Directors drawn from the membership; management consists of a CEO/General Manager and four directors/managers covering Finance/Administrative Services, Operations, Business Development & Community Relations, and Information Technology. Community-facing initiatives include Operation Round Up (over $427,500 donated to local communities since 2003, $16,000 in 2024), RECare, scholarship and lineman scholarship programs, the Iowa Youth Tour to Washington, D.C., and low-interest economic development loans. Electric rates are not publicly disclosed and are set internally by the Board.

Name

Heartland Power

Legal name

Heartland Power Cooperative

Website

https://heartlandpower.com

Company type

Private

Founded year

1998

Operating status

Operating

Headcount range

11–50 employees

Short description

Heartland Power Cooperative is a member-owned electric distribution cooperative serving approximately 5,200 homes, farms, businesses, and industrial customers across 12 counties in North Central Iowa and South Central Minnesota through 1,948 miles of primary power line.

Ownership category

akta.pro rank

Product category

Electric Utility Distribution

NAICS

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

SIC

Electric Services (4911), Electric & Other Services Combined (4931)

akta.pro primary industry

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

akta.pro secondary industries

Demand Response & Load Flexibility Services (EUAMAJAF), Community Microgrids & Shared Distributed Generation (EUACALAC)

Keywords

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

Headquarters

HQ city

Thompson

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Electric Service Revenue: As a non-profit electric cooperative, all revenue from electricity sales is used to cover operating costs, with remaining margins returned to members as capital credits. The cooperative provides safe, reliable, affordable, and environmentally responsible electricity 24 hours/day, 365 days/year.
2. Security Light Maintenance Program: Members pay a $3.00 monthly fee for coverage on security light repairs, with the cooperative responsible for all maintenance under a 3-year agreement.
3. Connection and Service Fees: One-time fees for connecting or reconnecting service ($60.00), delinquent posting ($40.00), delinquent disconnect ($60.00), after-hours service ($180.00), and returned checks ($30.00).

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

Heartland Power Cooperative distributes electricity to approximately 5,200 homes, farms, businesses, and industrial customers across 12 counties in North Central Iowa and South Central Minnesota through more than 1,948 miles of primary power lines. As a non-profit member-owned electric cooperative, the company purchases wholesale power from Dairyland Power Cooperative and resells it to members, while offering related programs such as community solar subscriptions, load management, energy efficiency rebates, and a member self-service portal (SmartHub).

Product overview

Heartland Power Cooperative is a member-owned electric distribution cooperative providing electricity to approximately 5,200 homes, farms, businesses, and industrial customers across North Central Iowa and South Central Minnesota. The cooperative operates a portfolio of products and services centered on its core electricity delivery infrastructure. SmartHub serves as the primary digital portal for account management, bill payment, and energy usage tracking. The product suite includes energy programs (Community Solar with a 852 kW array, Load Management Program, Iowa Choice Renewables), member financial programs (Co-op Connections Savings discount program, Rebates), charitable and assistance programs (Operation Round Up, RECare, Scholarship Program), community development initiatives (Economic Development Program, Youth Tour), and reliability services (Security Light Maintenance, Outage Management). The cooperative partners with Dairyland Power Cooperative for generation and transmission and is a member of Touchstone Energy Cooperatives national network.

Differentiator

Problem solved

Functional benefit

Brands

• Touchstone Energy: A national brand identity for electric cooperatives that signifies integrity, accountability, innovation and commitment to community. Heartland Power is a Touchstone Energy partner along with other Dairyland Power Cooperative members.
• Community Solar
• Co-op Connections
• SmartHub

Products and services

• Electric Distribution Service Core electric distribution service delivering safe, reliable, affordable, and environmentally responsible electricity 24 hours/day, 365 days/year to residential, agricultural, commercial, and industrial members across 12 counties via more than 1,948 miles of primary power lines.
• SmartHub Online and mobile account management and bill payment platform available via web and iOS/Android apps, enabling members to make payments, view payment history, print statements, monitor daily and monthly energy usage, and configure text/email notifications.
• Community Solar Program Subscription program allowing members to purchase units in a 852 kW community solar array (2,706 315-watt panels) located east of St. Ansgar, IA. Each subscription unit produces approximately 400 kWh per year with credits applied to the member's monthly electric bill.
• Load Management Program Demand-side energy management program that controls participating members' electric water heaters or electric heat during peak periods, reducing peak usage and saving the cooperative over $4 million annually while reducing summer capacity needs by 60 MW and winter capacity by 152 MW.
• Iowa Choice Renewables Renewable energy program offered through an LLC established in 2016 by a group of rural Iowa electric cooperatives, providing members access to renewable energy resources that benefit cooperative members and surrounding communities.
• Co-op Connections Savings Member discount program offering savings on prescriptions, dental, vision, hearing, lab work, imaging, and chiropractic visits, plus hotel savings (up to 20% at 400,000+ locations), cash-back shopping (up to 20% at 2,000+ retailers), event discounts, and insurance discounts.
• Energy Efficiency Rebates Program Rebate program covering Energy Star appliances (refrigerators, clothes dryers, clothes washers, dishwashers), heat pumps, water heaters, lighting, and more efficient equipment, with rebate forms required within 6 months of purchase or installation.
• Security Light Maintenance Program Security light repair service offering two options: pay-per-repair invoicing or a $3.00 per month maintenance subscription under a 3-year agreement that covers all repair costs for participating members.

Quantifiable outcome

• Over $4 million in annual savings achieved through load management program
• +4 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Six partnerships are on record, tiered minor and core.

• Iowa Choice Renewables (ICR)minorStrategic or Co-development Partner · 1 January 2016Iowa Choice Renewables is an LLC established in 2016 by a group of rural electric cooperatives in Iowa to provide renewable energy resources that benefit cooperative members and surrounding communities.
• Dairyland Power CooperativecoreStrategic or Co-development Partner · 1 January 1998Dairyland Power Cooperative is the generation and transmission cooperative that serves as Heartland Power's power supplier. They generate electricity using traditional and renewable resources including hydroelectric, natural gas, coal, landfill gas, and solar. Heartland participates in Dairyland's load management program achieving over $4 million in annual savings.
• Touchstone Energy CooperativescoreStrategic or Co-development PartnerTouchstone Energy is a national brand identity that unifies electric cooperatives sharing common values of integrity, accountability, innovation, and community involvement. Heartland Power is a Touchstone Energy partner, appearing on national ads in TV, magazines, and newspapers. The network includes over 700 local systems serving 30.5 million member-owners.
• Iowa Association of Electric Cooperatives (IAEC)minorStrategic or Co-development PartnerIAEC represents the interests of not-for-profit electric cooperatives which power the lives of 650,000 Iowans. Provides resources, safety information, and coordinates public information campaigns including grain bin safety.
• National Rural Electric Cooperative Association (NRECA)minorStrategic or Co-development PartnerNRECA is the national service organization for more than 900 not-for-profit rural electric cooperatives providing service to more than 42 million consumers.
• Homeward, Inc.minorStrategic or Co-development PartnerHomeward is a not-for-profit housing organization serving rural Iowa. They offer loans for a variety of programs and partner with Heartland Power on community development initiatives.

Scale indicators8 records

Recent moves7 records

Expansion highlights5 records

Regional players

• People's Energy Cooperative: Minnesota-based member-owned electric cooperative providing comparable distribution service and member programs in an adjacent Minnesota territory to Heartland's South Central service area.

Direct peers

• Eastern Iowa Light & Power Cooperative: Iowa-based member-owned electric distribution cooperative of similar size and rural character to Heartland, offering directly comparable electricity distribution and member-service programs.
• Midland Power Cooperative: Iowa-based member-owned electric distribution cooperative serving rural members, of comparable scale and structure to Heartland Power, operating in an overlapping Midwestern service territory.
• Butler County Rural Electric Cooperative: Iowa rural electric distribution cooperative similarly member-owned and of similar size to Heartland, offering comparable residential, agricultural, and small commercial service in a rural Iowa county.
• Corn Belt Energy: Member-owned rural electric cooperative serving agricultural and residential members in Iowa with comparable distribution operations and community-focused programs.
• Prairie Energy Cooperative: Iowa rural electric cooperative serving a comparable small-town and agricultural membership base, with overlapping product offerings (load management, community solar, capital credits) and similar operating scale.
• Freeborn-Mower Cooperative Services: Minnesota-based member-owned electric cooperative whose service territory overlaps Heartland's South Central Minnesota counties, offering directly comparable distribution, billing, and community-program products.

Others

• Touchstone Energy Cooperatives: National brand alliance of over 700 electric cooperatives, of which Heartland is a partner; not a competitor but a peer in governance and co-marketing/identity programs shared across member co-ops.
• Dairyland Power Cooperative: The generation-and-transmission cooperative that supplies wholesale power to Heartland and other distribution members; relevant as the upstream supplier in the same cooperative system rather than a direct competitor.

Broad incumbents

• Basin Electric Power Cooperative: Large multi-state generation-and-transmission cooperative serving distribution members across the Upper Midwest, providing industry context for Heartland's wholesale supply arrangements within the cooperative family.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/heartlandpower
• Xx.com/heartland_power
• LinkedInlinkedin.com/company/heartland-power

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 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 Heartland Power