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Denver-based firm to provide key power block for co-op’s future needs
Brighton, CO — United Power, Inc. (United Power), an electric cooperative serving Colorado’s northern Front Range, and Guzman Energy (Guzman), a wholesale power provider dedicated to developing portfolios that meet their clients’ needs for economical, reliable power, announce the signing of a 15-year contract to deliver wholesale power to the cooperative.
The power supply agreement features fixed wholesale power pricing that provides the cooperative predictable and stable power supply costs. Under the agreement, Guzman will deliver approximately one-third of the cooperative’s power needs, beginning in May 2024.
“As we move forward with our plan to diversify our power portfolio, this contract is an important part of our strategy,” stated Mark A. Gabriel, President and CEO of United Power. “Guzman has an excellent track record of providing economical resources for cooperatives, and their commitment to integrating renewables will help us control costs while still keeping our eye on environmental impacts.”
United Power’s planned exit from its current power contract will take place May 1, 2024. The move was motivated by a desire to stabilize power costs and provide greater flexibility to the cooperative and its members.
“Wholesale power continues to be United Power’s largest expense, accounting for over 70% of our costs,” stated Gabriel. “Having more predictable power purchase costs will offer many benefits to United Power members today and into the future.”
“We are proud to contribute to United Power’s efforts to reduce power supply costs, gain greater control over generation mix, and contribute to more local, sustainable energy,” said Robin Lunt, Chief Commercial Officer at Guzman Energy. “We look forward to continued opportunities to support United Power and other cooperatives’ success.”
United Power serves nearly 110,000 meters and maintains and operates over 6,500 miles of distribution line. The 900-square mile service territory wraps around the north and west borders of the Denver International Airport. It includes the north and northeast metropolitan development corridors along Interstate 25, Interstate 76, State Highway 85, and E-470 and the Golden Gate and Coal Creek Canyons, two of Colorado's most iconic and historic mountain canyons. As a result of its geographic location, United Power’s system is experiencing significant demand and energy growth, averaging approximately 6% annually.
To learn more about United Power’s power supply transition, visit Power Supply.
About United Power
United Power is a member-owned, not-for-profit electric cooperative, delivering electricity to homes, farms, and businesses throughout Colorado’s northern Front Range. The cooperative is one of the fastest-growing electric co-ops in the nation, and in June 2021 joined the elite ranks of cooperatives serving more than 100,000 meters. The 900-square mile service territory extends from the mountains of Coal Creek and Golden Gate Canyon, along the I-25 corridor and Carbon Valley region, to the farmlands of Brighton, Hudson, and Keenesburg. United Power is also a founding member of the NextGen Cooperative Alliance, which is dedicated to expanding the power supply and procurement options available to distribution co-ops and reforming the traditional generation and transmission business model. For more information about United Power, visit www.unitedpower.com or follow the cooperative on Facebook, Twitter, LinkedIn, YouTube, and Instagram.
About Guzman Energy
Guzman Energy is a wholesale power provider dedicated to communities in search of affordable and reliable energy. We partner with cooperatives, municipalities, companies, and tribes across North America to customize energy portfolios that make economic and environmental sense for today and tomorrow. Together, we are lighting the way forward. Visit www.guzmanenergy.com.
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Locally Owned by Those We Serve
United Power, a member-owned utility founded in 1938, provides electric service to more than 95,000 meters, or 250,000 residential, agricultural and business consumers along Colorado’s northern Front Range. The not-for-profit electric cooperative is guided by a member-elected board of directors comprised of eleven directors who serve three-year terms.
Surrounding Denver on three sides, United Power serves 900 square miles along the north central range of the Colorado Rockies. Our service territory wraps around the north and west borders of Denver International Airport and includes the north metropolitan development corridors of Interstate 25, Interstate 76, State Highway 85, and E-470.
Cooperative businesses, like United Power, are special because they are owned by the consumers they serve, and they are guided by a set of seven principles that reflect the best interests of those consumers.
All cooperative businesses adhere to these seven guiding principles:
- Voluntary and Open Membership.
- Democratic Member Control.
- Members’ Economic Participation.
- Autonomy and Independence.
- Education, Training, and Information.
- Cooperation Among Cooperatives.
- Concern for Community.
United Power purchases wholesale electricity from Tri-State Generation & Transmission. Tri-State is the supplier of electricity to United Power and 41 other customer-owned utilities in Colorado, Wyoming, New Mexico and Nebraska.
Currently, wholesale power from Tri-State constitutes more than 77% of our total costs paid by our members. Since 2018 United Power has been actively seeking to reduce our costs for wholesale power, and to have more control over the generation mix of that power.
Our members deserve cleaner, more affordable power. United Power is committed to providing safe, reliable and affordable electric power, and as a cooperative, we’re always looking out for our member-owners.
United Power has been a leader in innovative and renewable energy projects. From developing the state’s first cooperative solar farm, to several large-scale solar projects, and to operating the state’s largest battery storage facility, we have been driven by what is financially and environmentally best for our members.
We are limited by our Tri-State contract to incorporate any additional renewable energy. United Power has been consistently at the table asking for solutions that give our members what they want. We know our members want more local, renewable power serving their homes and businesses.