Colorado regulators approve Tri-State’s transformative, unopposed electric resource plan settlement  

• Plan seeks 1,250 megawatts of new renewable and energy storage resources, and dispatchable resources. 

• Tri-State will initiate the second phase of electric resource planning process, including procurement of renewable, storage, and dispatchable projects, in mid-September 2024. 

• Settlement includes assistance for northwest Colorado coal communities.  

(August 22, 2024, Westminster, Colo.) In a significant step forward for Tri-State Generation and Transmission Association’s member-led energy transition, an administrative law judge (“ALJ”) for the Colorado Public Utilities Commission (“CoPUC”) today recommended approval of the not-for-profit power supplier’s unopposed comprehensive settlement of Phase I of its 2023 Electric Resource Plan (“ERP”).  

Tri-State anticipates that it will begin the procurement process for new resources under Phase II of the ERP in September 2024, leading to an 89% reduction in its greenhouse gas emissions in Colorado and 70% clean energy used by its members systemwide in 2030.  

“The advancement of our resource plan is an important milestone in our energy transition,” said Duane Highley, chief executive officer of Tri-State. “We are thankful for the engagement of our members and numerous stakeholders in our resource planning, and we look forward to working together to further implement a transformative plan that ensures we will have the resources to reliably serve our members.” 

The ERP reflects both industry standard reliability metrics and Tri-State's heightened “Level II” reliability metrics, which assess electric system resilience in extreme summer and winter weather conditions. 

If no exceptions are filed within 20 days, the recommended decision will become the final decision of the CoPUC and Tri-State will initiate Phase II of its ERP process. Tri-State will issue requests for proposals in September 2024 for 1,250 megawatts of new renewable and energy storage resources, and for dispatchable resources in its western region. 

The recommended approval of the resource plan settlement also includes significant community assistance from Tri-State to support northwest Colorado communities as the Craig Generating Station, which Tri-State operates in Moffat County, Colo., retires its three units between 2025 and 2028. As part of the settlement, Tri-State will only solicit bids for Tri-State ownership of a new natural gas power plant to be located in Moffat County, Colo.  

Tri-State filed the comprehensive settlement agreement with the CoPUC on June 27, 2024. In the recommended decision today, the ALJ found and concluded that the settlement agreement was just and reasonable, and not contrary to the public interest. Tri-State filed its initial electric resource plan application on Dec. 1, 2023. 

Sixteen Tri-State members and stakeholders support the settlement, including Tri-State members Highline Electric Association, Poudre Valley Rural Electric Association and Y-W Electric Association; state agencies including the Colorado Energy Office, Trial Staff of the Colorado Public Utilities Commission, Office of Just Transition, and Office of the Utility Consumer Advocate; Moffat County and the City of Craig, Colo.; environmental organizations including Natural Resource Defense Council, Sierra Club and Western Resource Advocates; and developer associations including Colorado Independent Energy Association, Colorado Solar and Storage Association, Interwest Energy Alliance and Solar Energy Industries Association. Fourteen intervening Tri-State members did not oppose the settlement.   

Tri-State's ERP process occurs in two phases. In Phase I, Tri-State collaborated with stakeholders, prepared modeling assumptions and scenarios, and modeled generic resources to arrive at a preferred plan that represents the most affordable resource mix, while respecting reliability metrics, and environmental and transmission constraints. The Phase I proceeding included the involvement of intervening parties on discovery and testimony.  Parties reached a settlement agreement to collaboratively address the Phase I resource plan without need for a hearing. In Phase II of the plan, Tri-State will issue requests for proposals seeking bids for new renewable, storage and dispatchable resources. Bids will be evaluated through a screening process and portfolio modeling, approved by the CoPUC.  

About Tri-State  

Tri-State is a power supply cooperative, operating on a not-for-profit basis, serving electric distribution cooperatives and public power district members in four states. Together with our member-owners, we deliver reliable, affordable and responsible power to more than a million electricity consumers across nearly 200,000 square miles of the West. For more information about Tri-State, visit www.tristate.coop.    

Contact   

Lee Boughey, Vice President, Communications, (720) 670-6696, Lee.Boughey@tristategt.org   

Mark Stutz, (303) 254-3183, Mark.Stutz@tristategt.org@tristategt.org   

Certain information contained in this press statement are forward-looking statements including statements concerning Tri-State’s plans, future events, and other information that is not historical information. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including those described from time to time in Tri-State’s filings with the Securities and Exchange Commission. Tri-State’s expectations and beliefs are expressed in good faith, and Tri-State believes there is a reasonable basis for them. However, Tri-State cannot assure you that management’s expectations and beliefs will be achieved. There are a number of risks, uncertainties and other important factors that could cause actual results to differ materially from the forward-looking statements contained herein.