Tri-State submits Phase II Electric Resource Plan Implementation Report to CoPUC
- Not-for-profit power supply cooperative modeling identifies need for a 200-megawatt wind project in early 2026.
- Tri-State will cost-effectively add a renewable resource in 2026 that advances its emissions reduction goals.
- Tri-State anticipates filing its 2023 Electric Resource Plan later this year.
(February 13, 2023 – Westminster, Colo.) Tri-State Generation and Transmission Association has identified a need for a 200-megawatt wind facility in the Wyoming/Nebraska planning region in early 2026, reflected in the not-for-profit power supply cooperative’s Revised Preferred Plan portfolio submitted today under Phase II of its 2020 Electric Resource Plan before the Colorado Public Utilities Commission (CoPUC).
Tri-State had issued an all-source request for proposals (RFP) for new renewable and carbon-free resources, including storage, in May 2022, and received more than 270 individual eligible bids. Tri-State then used data from the bids along with other updates to model five portfolios, including those requested by intervening stakeholders, and applied additional criteria to stress the portfolios’ reliability under extreme weather events and other conditions.
“Tri-State has undertaken extensive modeling to identify a preferred portfolio that will enable us to continue to serve our cooperative members with a reliable, affordable and responsible generation mix. We appreciate the engagement of our members and stakeholders in our electric resource planning process,” said Duane Highley, CEO for Tri-State.
The Revised Preferred Plan portfolio submitted to the CoPUC was reviewed in early February 2023 by Tri-State’s board of directors. In selecting the plan, Tri-State considered multiple factors as it seeks to add new generation, including reliability, cost, emissions reductions, retirement dates for the Craig Station in Craig, Colo., and contractual obligations related to Tri-State’s other thermal resources.
The Phase II Implementation Report filing is the final step in Tri-State’s 2020 ERP. Previously, Tri-State reached a landmark, uncontested settlement with more than two dozen parties on Phase I of the ERP in January 2022, which was approved by the CoPUC in May 2022. Through the settlement, Tri-State established a glidepath to reduce GHG emissions associated with wholesale electricity sales in Colorado, relative to a 2005 baseline, by 26% in 2025, 36% in 2026, 46% in 2027, and 80% by 2030.
Parties to the settlement also agreed to a set of modeling assumptions and inputs for Phase II, such as the update of certain technical assumptions, updates to reflect new Tri-State member partial requirements contracts, continued analysis of the retirement date for the third unit at the Craig Station, and other information.
Stakeholders will now submit comments on the Phase II Implementation Report and Tri-State will respond in mid-April 2023. Tri-State will work to finalize a power purchase agreement for the identified, 200-megawatt resource addition, which will be contingent on approval of the preferred plan by the CoPUC, which is anticipated in mid-May 2023.
Tri-State has requested a Dec. 1, 2023, date for filing Phase I of its 2023 Electric Resource Plan. The 2023 ERP will consider acquisition of new generating resources for the 2026-2031 timeframe.
Tri-State is a power supply cooperative of 45 members, operating on a not-for-profit basis, including 42 utility electric distribution cooperative and public power district members in four states. Together with our members/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.
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.