Tri-State completes “open season” partial requirements nomination period
- Partial requirements “open season” included up to 300 megawatts of member self-supply.
- Membership option provides additional self-supply flexibility, including more local renewables.
- Three of 42 utility members express interest in an aggregate of 209 megawatts of self-supply.
(May 25, 2021 – Westminster, Colo.) – Tri-State has completed the next step in the process to provide more self-supply flexibility to its members, including increased local renewable generation, with its first-ever “open season” nomination period for members to express their interest in transitioning to partial requirements memberships.
Tri-State’s board of directors approved a member-developed partial requirements option in October 2020, as a component of its transformative Responsible Energy Plan, and Tri-State filed the partial requirements option for approval with the Federal Energy Regulatory Commission. Tri-State members’ can currently self-supply 5% of their load from local renewable resources and 2% from community solar.
“Our members and board of directors diligently worked for more than a year to develop a fair and equitable process to increase contract flexibility and advance our Responsible Energy Plan,” said Duane Highley, Tri-State CEO. “The conclusion of the open season is another significant step forward in that process.”
In the open season period, three members submitted nominations for an aggregate of 209 megawatts (MW); the available pool was 300 MW, which is approximately 10% of Tri-State’s system peak demand.
“Our members’ approach to contract flexibility increases self-supply options while preserving the value of membership in a full-service generation and transmission cooperative,” said Highley. “Importantly, the majority of members that are maintaining their current wholesale power contracts will not see their costs affected as some members transition to partial requirements contracts.”
Members considering partial requirements options continue to receive the unique benefits of Tri-State membership. Even in the most adverse weather and power market conditions, Tri-State’s increasingly cleaner mix of resources and its multi-state, interconnected transmission system network reliably and affordably delivers power to it members. Tri-State has announced wholesale rate reductions, and as a not-for-profit cooperative, returns capital to its members. Tri-State also delivers its members a broad range of product offerings that support consumer energy efficiency and beneficial electrification, including support for public electric vehicle infrastructure.
These differentiators demonstrate that value of membership in Tri-State, and generation and transmission cooperatives in general, Highley said. Partial requirements memberships have been successfully implemented in other G&Ts across the United States.
Tri-State Generation and Transmission Association is a wholesale power supply cooperative, operating on a not-for-profit basis, with 45 members, including 42 utility electric distribution cooperative and public power district members in four states that together deliver reliable, affordable and responsible power to more than a million consumers across nearly 200,000 square miles of the West.
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.