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S&P Capital IQ ($):

Rural electric cooperative United Power Inc. notified federal regulators of its intention to withdraw from Colorado-based Tri-State Generation and Transmission Association Inc. at the start of 2024.

United Power said it formally notified the Federal Energy Regulatory Commission of its intent (ER21-2818, et al.) after years of unsuccessful negotiations to modify its contract with Tri-State.

“Instead of working with us in the pursuit of lower-cost, cleaner options, Tri-State has resisted these developments,” United Power President and CEO Mark Gabriel said in a Dec. 14 news release. “Tri-State recently purchased additional coal generation, is limiting our members’ ability to add more carbon-free generation and is penalizing additional storage on our system.”

Gabriel also said Tri-State had offered nonmembers “preferable transmission rates over those of us who have invested in the system for decades.”

[Molly Christian]

More: Largest member moves to exit Tri-State due to cost and clean energy concerns

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