By Hillary Knox
La Plata Electric Association
The Tri-State Generation and Transmission Board of Directors approved a rate settlement to reduce wholesale power rates to its members, including La Plata Electric Association (LPEA), by 2 percent immediately with an additional 2 percent 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.
“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.