The forecast shows growth at 3.3% annually across the membership.
At its January meeting, Basin Electric’s board of directors approved the member load forecast for 2024-2050. The forecast shows growth at 3.3% annually across the membership, according to Jay Lundstrom, Basin Electric senior load forecast analyst.
Growth within Basin Electric’s service area in the residential and commercial sectors as well as cryptocurrency load and continued economic development in western North Dakota all contribute to the load growth in the forecast.
This year’s forecast shows a base case and a planning case. “The load forecast is used for multiple purposes, each with its own financial or operational risk tolerance,” Lundstrom said. “We continue to develop a bandwidth forecast to capture the range of what is probable, with the actuals falling in the middle. This approach becomes especially prudent when forecasting loads or sectors with high volatility.”
The load forecast is the main tool used for power supply planning, financial forecasting, rate planning, and transmission planning.
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