Basin Electric settles McKenzie Electric disputes; expects $40M pre-tax charge in Q2 2026

BASIN ELECTRIC POWER COOPERATIVE

Settlement resolves North Dakota state court and FERC disputes among Basin Electric, McKenzie, Upper Missouri, and Mountrail-Williams.
McKenzie will dismiss with prejudice its state court claims and withdraw FERC complaints against Basin Electric and Upper Missouri.
Basin Electric agrees that from Jan 1, 2031, it will not include Dakota Gasification costs in rates charged to Upper Missouri for McKenzie's power.
McKenzie continues its wholesale power contract with Upper Missouri through 2075, remaining a Class C Member of Basin Electric.
Pre-tax charge of approximately $40 million expected in Q2 2026; settlement effective upon regulatory approvals and financing conditions.

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