Tri-State’s innovative Bring Your Own Resource program accepted by federal regulators 

• Members can self-supply up to 40% of requirements through their owned or controlled projects, with Tri-State supporting members by integrating projects into its multi-state system. 

• Increasing member flexibility is a major step forward in Tri-State’s member-driven transition. 

• Federal Energy Regulatory Commission notes program will provide Tri-State members with additional flexibility to develop their own resources under their wholesale electric service contracts with Tri-State, while not increasing wholesale rates or shifting costs between members.  

(August 5, 2024, Westminster, Colo.) Electric cooperatives across the West that are members of not-for-profit wholesale power supply cooperative Tri-State Generation and Transmission Association have increased flexibility to supply up to 40% of their power needs through an innovative Bring Your Own Resource (BYOR) program accepted Aug. 2 by the Federal Energy Regulatory Commission (FERC). 

The BYOR program is the result of significant guidance and input from Tri-State's member electric cooperatives and public power districts, which now have increased flexibility to own or contract for their own energy projects, which are expected to be largely renewable. Tri-State will enter into a supply agreement to purchase the power and associated environmental attributes from the projects and integrate the energy into its larger system, with the member credited for the power sold to Tri-State and any environmental attributes from renewable energy projects.  

“The Bring Your Own Resource program increases member flexibility, leveraging the strengths of our members and Tri-State with an innovative approach demonstrating the unique value of the cooperative business model. Together, we are pairing our members’ development of their own projects with Tri-State's ability to reliably and effectively integrate projects into our larger, multi-state system,” said Duane Highley, chief executive officer of Tri-State. 

Member engagement was central to the development of the BYOR program. Tri-State worked with its members to design the BYOR program concept and structure to best meet members’ needs.  

“We are thrilled about the prospect of developing a sizable renewable project, one that promises to create a lasting legacy for our members. This endeavor is more than just a project; it’s a commitment to a future shaped by our collective vision and dedication to a brighter tomorrow,” said Jeff Wadsworth, president and chief executive officer of Poudre Valley Rural Electric Association (Fort Collins, Colo.). “By working together with Tri-State to introduce a ‘bring-your-own-resource’ option, we envision a future where a dependable and greener grid aligns with the cooperative spirit guiding us forward for the benefit of our members.”  

"High Plains Power is excited about the prospects of the Bring Your Own Resource program and the benefits it could provide to our membership," said Darick Eisenbraun, chief executive officer of High Plains Power (Riverton, Wyo.).  

“Increasing flexibility for members is an important part of Tri-State’s energy transition,” said Dennis Herman, general manager of Highline Electric Association (Holyoke, Colo.). “By working together, we’re advancing an innovative option for members that want to significantly expand their own renewable resources.”  

“The Bring Your Own Resource program creates greater opportunities for Tri-State's members to develop renewable projects," said Chris Martinez, executive vice president and general manager, and Tri-State board director, for Columbus Electric Cooperative (Deming, N.M.). 

“SMPA is hopeful we can continue work with our fellow co-ops and Tri-State to help ensure the Bring Your Own Resource program option provides the flexibility that our members need,” said Brad Zaporski, chief executive officer and general manager of San Miguel Power Association (Nucla, Colo.).    

Under the BYOR program, members can individually or together propose projects during a regular program cycle for assessment by a third-party evaluator for reliability, economic and environmental criteria. If a project passes evaluation, the member contracts for the resource, and Tri-State enters into an agreement with the member for the resource output. The 2024 program cycle cap is expected to accommodate about 350 megawatts (MW) of resources coming online prior to July 1, 2028.  Following the initial program cycle beginning this fall, subsequent program cycles will occur every two years. 

In its order approving the program, FERC noted that Tri-State’s cooperative members will have additional flexibility to develop their own resources within the all-requirements service provided by Tri-State, under the generation and transmission cooperative’s wholesale electric service contract, while not increasing wholesale rates or shifting costs between members.  

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 responsible and flexible power and services to more than a million electricity consumers across nearly 200,000 square miles of the West. For more information, 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  

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.