Tri-State issues request for offers from third parties to purchase power
- Energy and capacity available from April 1, 2024, through Dec. 31, 2027.
- Products offered from Tri-State include tolling agreements, block sales of energy, and dispatchable capacity.
(September 5, 2023 – Westminster, Colo.) Tri-State Generation and Transmission Association today released a request for offers from third parties to purchase power from the wholesale power supply cooperative. Tri-State is evaluating the sale of capacity and energy from its dispatchable resources from April 1, 2024, through Dec. 31, 2027.
The opportunity for Tri-State to sell power comes as it plans for the unconditional withdrawal of three distribution cooperative members. Brighton, Colo.-based United Power and Hay Springs, Neb.-based Northwest Rural Public Power District will terminate their wholesale electric service contracts and withdraw from membership in Tri-State effective May 1, 2024. Granby, Colo.-based Mountain Parks Electric will terminate its power contact and membership in Tri-State in early 2025.
Tri-State, which has invested in generation resources to deliver reliable and affordable power to its members, will have excess generating capacity available following the withdrawal of these three members.
“In a tightening regional power market, Tri-State has the opportunity to reduce cost pressures on our remaining members by selling power to other parties,” said Duane Highley, chief executive officer of Tri-State. “Tri-State has the generating capacity to ensure power is always available to our members, and we can also provide this dispatchable power to others to help ensure reliability and resilience.”
The request for offers is focused on power purchase agreements. Products offered from Tri-State include tolling agreements, block sales of energy, and dispatchable capacity. Tri-State will not consider offers to purchase its generating resources.
Parties interested in responding to the RFP should submit a notice of intent to TSPMTeam-RFP@tristategt.org by 5 p.m. MDT on Sept. 14, 2023. Offers/proposals will be due by 5 p.m. MDT on Sept. 29, 2023.
Tri-State 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 electricity consumers across nearly 200,000 square miles of the West. For more information about Tri-State, visit www.tristate.coop.
Lee Boughey, 303-254-3555, email@example.com
Mark Stutz, 303-254-3183, firstname.lastname@example.org
* Parties interest in the RFP must contact TSPMTeam-RFP@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.