DURANGO, Colo. – The Tri-State Generation and Transmission (Tri-State) Board of Directors approved a rate settlement to reduce wholesale power rates to its members, including La Plata Electric Association (LPEA), by 2% immediately with an additional 2% reduction in March of 2022. The decision will now go to the Federal Energy Regulatory Commission (FERC) for final approval. If approved, the rate decrease will go into effect retroactively, as of March 1, 2021.
This rate adjustment is the product of significant negotiations between Tri-State and its members with LPEA taking a leading role in resolving these issues.
“I’m pleased this settlement has come to fruition and proud that the hard work of LPEA’s staff and attorney has paid off,” said LPEA CEO Jessica Matlock. “LPEA was a leader in making this a reality, and this is a very encouraging step towards the rate reductions Tri-State has promised. We are hopeful the agreement will be considered and approved by FERC soon.”
Pending final approval from FERC, the LPEA Board of Directors will begin evaluating how this change will benefit LPEA members.
Tri-State announcement: https://tristate.coop/tri-state-reduce-wholesale-rates-ferc-settlement
More details on LPEA’s future power supply: lpea.coop/powersupply
LPEA is a member-owned, not-for-profit, electric distribution cooperative serving La Plata and Archuleta, with segments of Hinsdale, Mineral and San Juan counties. LPEA is the fifth largest cooperative of 22 in Colorado, and aims to provide safe, reliable electricity at the lowest reasonable cost to its approximately 34,500 members.
For more information contact:
VP of Member Experience
La Plata Electric Association, Inc.
45 Stewart Street │P.O. Box 2750
Durango, CO 81302-2750
Direct: (970) 382-3518 │ Cell: (970) 749-6378
Post courtesy of LPEA