The Spotlight by Eric Eriksen![Eric Eriksen mugshot](//slvrec.com/sites/default/files/inline-images/Eric_Eriksen_mugshot_web_7.jpg)
BYOR program announcement
I am often asked, “why hasn’t SLVREC built local utility scale solar generation?” Or “wouldn’t it be great to serve our members with local energy and possibly sell surplus to others?” Those are great questions. And you may have heard the typical response describing how SLVREC is not considering building local utility scale generation at this time due to our contractual obligation with Tri-State. What you may not have heard is that SLVREC is working on your questions and concerns every day for better solutions.
Today, I am excited to share with you that the innovative “Bring Your Own Resource” program was approved by the Federal Energy Regulatory Commission (FERC) on Aug. 2, 2024. This is an industry-first approach for a wholesale energy provider partnering with its members to develop local resources, while not increasing wholesale rates or shifting costs between members. The program is a result of collaboration with Tri-State G&T and its member electric cooperatives like REC working for you.
What is BYOR? It’s a new program providing us with the flexibility to develop our own future resources while honoring our wholesale electric service contract with Tri-State— a pathway to develop up to 40 percent of our own local San Luis Valley renewable energy. Under this program, surplus energy and associated environmental attributes may be sold to Tri-State and integrated onto their multi-state transmission system. This can support Tri-State’s transition to 85 percent renewable energy by 2031, while also supporting local opportunities. It’s a win-win.
What is next? Now we start evaluating the feasibility of developing local utility scale resources that may deliver reliable, affordable and responsible electricity over the long run and satisfy our agreement with Tri-State. New projects do not always deliver better value, but we will pursue them when they do.
Electronic voting: Are you ready?
More and more rural cooperatives have been breaking tradition by moving away from formal annual meetings and paper ballots. Instead, recent trends include a social meet-n-greet appreciation event in place of a formal event and use of electronic ballots for voting. The purpose is to try and increase member engagement and connection with your local cooperative. Are SLVREC members ready for this? That is the question your Board of Directors is asking. Please share your thoughts at power@slvrec.com. Your input helps.
Rocky Mountain Region Transmission Coalition
The SLVREC team is an active partner in the Rocky Mountain Region Transmission Coalition (RMR-TC) along with state agencies, communities, utilities and industry groups. The purpose is supporting the study and development of new transmission projects into the San Luis Valley to unlock remote energy resources, support local resiliency, invigorate economies and aid the national transition to a clean energy future. We’ve been engaged in seeking grant opportunities for almost two years alongside several local stakeholders. I am happy to share that on July 24, the Department of Energy awarded $1.7 million to study an optimal transmission route into the Valley with community engagement. This is one of four federal transmission siting and permitting grants awarded across the country. Significant recognition goes to RMR-TC’s hard work to improve power transmission to the region.
New wholesale formulary rate process
The Federal Energy Regulatory Commission (FERC) approved Tri-State’s request to implement a formulary rate process, supporting the transitioning to a renewable energy future. The State of Colorado has directed a transition to 80 percent renewable energy by 2023. This means that on Jan. 1 each year going forward we’ll receive a new rate to purchase wholesale power from Tri-State based on a formula. Read more about the FERC approved wholesale formulary rate online at tristate.coop.
We’re here whenever you need us. Connect with us online, in person or through our social media channels. However you choose to reach out, please let us know how we can serve you better.