Part of that is due to Tri-State’s wholesale rates and part to other local factors, Hubbuck said.Tri-State is now projecting flat or even slight decline in rates through 2030, according to Pat Bridges, the association’s chief financial officer.Rates and predictable revenues are the lifeblood of a nonprofit like Tri-State. Support independent, Colorado-owned journalism by joining The Colorado Sun. Home. Over the next two years, the Western EIM is scheduled to expand with the additioof the Los Angeles Department of Water and Power, NorthWestern Energy, Turlock Irrigation District, Public Service Company of New Mexico, and BANC Phase 2 in 2021, and the addition of Tucson Electric Power, Avista, Tacoma Power, Bonneville Power Administration, and Xcel Energy - Colorado in 2022. This includes directly interviewing sources and research / analysis of primary source documents. There are 18 member cooperatives in Colorado.It is governed by a board with one member from each cooperative. “All we’ve done is ask for a just and reasonable buyout number. Each member has one vote, so that even though United Power is 40 times larger than the Wheatland Rural Electric Association, in Wheatland, Wyoming, they have the same say.Wheatland and the seven other rural co-ops from Wyoming, the nation’s biggest coal producing state, are backing Tri-State in this fight.“Some of the members have different beliefs or needs,” United Power’s Hubbuck said. not listed in this Table of Contents are Blank Sheets reserved for future filing. This includes United Power’s fair share of the debt, including prepayments, and the cost of infrastructure, such as transmission lines and substations built by Tri-State to serve the cooperative.“For the rest of that, it gets back to how they manage their company and how do you manage with change?” Hubbuck said. © 2020 American Public Power Association Pueblo, Colorado, has started to explore breaking away from Black Hills Energy to form a public power utility. United and La Plata maintain this is “unrealistic.”Susan Tierney, a La Plata consultant, cautioned that applying such an approach to Tri-State’s very long contracts would have to rely on “highly subjective” assumptions and variables that could be manipulated.A United Power consultant said that if Tri-State’s method for calculating exit fees was applied to all members, the result would be a debt-free company with $5.9 billion in cash and a generation and transmission fleet free of customer obligation.The co-ops also point to figures, only recently made public, that show Tri-State originally demanded a $137 million exit fee from Kit Carson, before accepting $37 million.The initial exit fee quoted for DMEA was $332 million. Colorado Springs, CO 80901 “The best-case scenario is we would partner with Tri-State and figure it out, but I don’t think the governance structure allows it.”Tri-State sells wholesale power to 43 rural electric co-ops in Nebraska, Wyoming, Colorado and New Mexico. It has the best economy and is among those experiencing the most growth in its GDP and population. © 2020 by the Colorado Association of Municipal Utilities. Colorado ranks as the 10th best state in the U.S. If approved, the city would move to buy or condemn Black Hills Energy’s electric facilities in the city and Pueblo County. Investor-owned utilities are for-profit corporations that are regulated by the Colorado Public Utilities Commission (PUC). DMEA also forfeited about $48 million in patronage capital (or equity) it had in Tri-State.United Power has filed its own proposed exit fee, although it remains a part of the confidential docket in the case.“We are willing to pay our fair share,” Hubbuck said. Pueblo, Colorado, residents to vote on forming public power utility The Pueblo City Council approved the special municipal election during a Feb. 10 meeting. The Rocky Mountain Institute, a non-profit energy consultant promoting sustainable and clean energy, estimated Tri-State’s plan will save its co-ops $55 million a year.“The commitments that Tri-State has made to moving away from coal and expanding its clean energy capacity are important, but there are some deeply rooted problems in its business model,” said Eric Frankowski, executive director of the Western Clean Energy Campaign, a nonprofit promoting clean energy.In September 2019, Tri-State shifted its regulatory oversight for rates and contracts from the utility commissions in the four states in which it operates to the FERC by changing its bylaws and adding non-utility members.The association said it made more sense for its interstate operations to be uniformly overseen by one regulator.It then filed a motion with FERC to shut down the exit fee proceedings before the PUC. “Without the assured cash flow resulting from the member contracts, Tri-State could not obtain debt financing in the capital markets at any reasonable cost, and perhaps not at all.”Even with the S&P downgrade, Tri-State’s debt is top investment grade with an A- rating.Some of that debt, however, has covenants on it, including one that allows lenders to call for a prepayment fee if Tri-State loses 20% of its revenues from members exiting. In addition to the CAISO, the Western EIM’s active participants include PacifiCorp, NV Energy, Arizona Public Service, Puget Sound Energy, Portland General Electric, Idaho Power, Powerex, Balancing Authority of Northern California (BANC) Phase 1, Seattle City Light, and Salt River Project.

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