by Talk Business & Politics staff (staff2@talkbusiness.net)

Federal energy policy is shifting with a new presidential administration and with the Arkansas legislature in session, state energy legislation is also poised to reshape the landscape.

President Donald Trump campaigned on a muscular energy policy that centered on more oil and gas drilling as well as a loosening of regulatory hurdles on energy and retreat from the climate change policies of the Biden years. State lawmakers have introduced legislation to change how electricity companies can structure their rates to better benefit economic development opportunities.

Buddy Hasten, CEO of the Electric Cooperatives of Arkansas, sat down recently with Talk Business & Politics Editor-in-Chief Roby Brock to discuss the current and future energy landscape. ECA and its 17 member-owners are electric distribution cooperatives serving approximately 1.2 million Arkansans.

Electric Cooperatives CEO eyeing new policies at state, federal levels

by Jeff Della Rosa (JDellaRosa@nwabj.com)

Buddy Hasten, president and CEO of Arkansas Electric Cooperative Corp. (AECC) and Arkansas Electric Cooperatives Inc. (AECI), said at least $2 billion in new electricity generating capacity would meet energy demand amid rising reserve margins and power plant retirements.

To pay for the new capacity, consumers can expect a 14% rate increase, split into four smaller increases from 2025 to 2028.

On Monday (July 29), Hasten discussed the plans at the 2024 Directors’ Summer Conference that the Electric Cooperatives of Arkansas hosted at Embassy Suites in Rogers. Little Rock-based AECC recently celebrated its 75th anniversary. It was incorporated on July 11, 1949, and is the wholesale power provider for the state’s 17 electric distribution cooperatives.

Electric cooperatives to build $2 billion in power plants to ensure system reliability