Storage Agreement Will Help Create Flexibility for the Cooperative

Brighton, CO — United Power, Inc. (United Power), an electric cooperative serving Colorado’s northern Front Range, and Whetstone Power, a developer of sustainable energy infrastructure, announce a new partnership for the construction of a battery energy storage system. 

The battery energy storage system will be located in United Power’s service territory, giving the cooperative the ability to balance load and further integrate renewable resources into its operations. This 20-year agreement provides for 34 megawatts (MW) of power to be stored and discharged up to six hours for a total discharge capability of approximately 74 gigawatt-hours (GWh) in year one of operation.

“The use of batteries on our distribution network is essential to a resilient and responsive power system and we are excited to be moving ahead aggressively with Whetstone to get this system online,” stated Mark A. Gabriel, President and CEO of United Power. “These battery arrays will give us the ability to balance our power needs throughout the day and incorporate local renewables more efficiently. This furthers our efforts in hyper-localizing our power supply.”

Whetstone’s battery system will be located at a United Power substation and grid-charged, enabling the system to store energy during off-peak periods and discharge during periods of higher consumption. Further, the system will be operated as a six-hour solution, allowing it to discharge over a fairly long duration and thereby providing additional grid stability. This should allow United Power to use more renewable energy, further reducing its carbon footprint while ensuring reliable service to its membership. “We are proud to be a partner with United Power on this unique battery storage project,” said Collin Franceschi, Whetstone Power’s founding partner. “It was a real pleasure to work with the experienced team at United Power and find the ideal solution to meet their needs for helping to ensure clean, sustainable, and resilient energy for years to come.”   

Whetstone anticipates that the asset will be placed into service in 2024.

United Power serves nearly 110,000 meters and maintains and operates more than 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.

United Power is building a power portfolio ahead of leaving its current power supplier on May 1, 2024. The cooperative recently announced a prior agreement with Whetstone, in addition to agreements with Guzman Energy, OneEnergy, and Ameresco for portfolio assets related to this exit.

Learn more about United Power’s power supply transition. 

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, X, LinkedIn, YouTube, and Instagram.

About Whetstone Power

Whetstone Power shapes and facilitates the sustainable energy transition one project at a time through project development, ownership, asset management, and advisory services. Whetstone thrives on solving complex problems by leveraging the experience of its leadership to provide comprehensive and unique solutions to solve utility, institutional, commercial, and industrial customer energy supply and infrastructure needs. This includes solar, storage, and conventional generation assets in both greenfield development and project redevelopment opportunities. For more information, visit www.whetstonepower.com. 

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United Power is attempting to return unclaimed capital credit retirements to members who received electric service from the cooperative prior to 2020. If you were a member up to Dec. 31, 2019, you may be eligible to claim a previously issued but unclaimed capital credit refund. 

What Are Capital Credits?

Cooperative members periodically receive capital credit allocations based on their electric usage during a specified time period. The amount you receive is based on the amount of power you used and the margins earned for the time period being allocated. In subsequent years, at the Board of Director’s discretion, previously allocated capital credits may be retired and returned to members. 

Who May be Eligible?

Please look for your name on the list of unclaimed capital credit retirements.

• If you were a United Power member for any period of time through Dec. 31, 2019 AND you were issued a capital credit retirement check in 2020 or earlier that you did not cash;
• If you are the family member or estate representative of a deceased member who had an uncashed capital credit retirement check issued in 2020 or earlier;
• If you are a current member who:
  • Changed your name;
  • Added your name to an existing account;
  • Or did not cash a capital credit retirement check issued in 2020 or earlier.

How Can I Find Out If I Am Due a Refund?

A copy of the unclaimed retired capital credit list is posted in the lobby of United Power’s Brighton office. The list can also be viewed here.

The Brighton office is located at 500 Cooperative Way, off the I-76 service road. Lobby hours are:

Monday-Friday, 8:30 a.m. - 5 p.m.

My Name is On The List. How Do I Claim My Refund? 

If you find your name on the list of unclaimed capital credit retirements, download and complete the Unclaimed Retired Capital Credit Refund Request form. A copy of the form may also be requested by emailing United Power or calling the Member Services department at 303-637-1300. Submitting a form does not guarantee a disbursement will be made. Proper documentation and valid proof of membership during the applicable time period is required. No refund checks will be issued for unclaimed retirement amounts below $5. Once claimed, an individual may opt to donate their capital credit refunds to the United Power Round Up Foundation, which provides assistance to community organizations within the cooperative’s service territory. After the notification period closes on April 30, 2024, all unclaimed retired capital credits for the applicable time period will be considered an assignment and contribution of capital to United Power.  

Refund Request forms must be received by United Power by April 30, 2024.

United Power announces the publication of its first Social Responsibility report. The report recaps the cooperative’s accomplishments, performance, and progress in four defined areas – social, governance, safety and risk, and environmental. The inaugural report was approved by the United Power Board of Directors during the September board meeting, marking a significant milestone in the member-owned cooperative’s ongoing commitment to transparency, sustainability, and responsible management.

Each area of concentration is important to the overall operational and financial health of the cooperative, and utilities that measure performance in these areas consistently rank among the best in the country. The comprehensive report showcases United Power’s values of responsibility, integrity, and reliability, while outlining specific actions taken to support these tenets.

“We are excited to feature the many initiatives and accomplishments of the cooperative in this report,” stated Mark A. Gabriel, United Power President and CEO. “While annual reports highlight the prior year’s performance and the cooperative’s financial position, the Social Responsibility report provides our members a deeper understanding of the actions we are taking to further our mission to provide the best possible service.”

Key highlights from United Power’s inaugural Social Responsibility report include:

• Social Impact. The report highlights the cooperative’s efforts to create a positive impact within the communities it serves. This includes both cooperative- and employee-supported initiatives; the promotion of tolerance, acceptance, and inclusion in the workforce; and the careful attention to the integrity of data and information.
• Governance Excellence. The co-op’s governance structure and practices are outlined, highlighting the cooperative regulatory model, member engagement in director elections, and the cooperative’s corporate behavior and codes of conduct around financial transparency, accountability, and ethical conduct.
• Safety and Risk Management. The report outlines the many ways the cooperative is building and maintaining a resilient and safe infrastructure to protect the communities it serves. Through a comprehensive wildfire mitigation and vegetation management strategy, a strong safety culture, and broad-based approach to addressing risk, the cooperative is actively working to ensure the safe and reliable delivery of electricity.
• Environmental Responsibility. The cooperative’s innovative energy programs are highlighted, showing the depth of the co-op’s commitment to providing sustainable, flexible, and affordable power for members. Through efficiency measures and programs to make emerging technologies more readily accessible, United Power is paving the way for the evolving energy landscape.

Electric cooperatives have a long history of measuring success in these operational areas and are guided by a set of principles that emphasize social responsibility and transparency. United Power’s Our Cooperative Roadmap is the long-range action plan addressing how the co-op will tackle the challenges of the evolving utility landscape. The Social Responsibility report, which will be updated annually, will allow members to gain a greater understanding of the cooperative’s goals and accomplishments.