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