NOTICE OF MEETING OF THE BOARD OF DIRECTORS TO AMEND THE BYLAWS OF UNITED POWER, INC.

DATE OF NOTICE: September 6, 2023

NOTICE OF PROPOSED AMENDMENTS TO THE BYLAWS OF UNITED POWER, INC., 500 COOPERATIVE WAY, BRIGHTON, COLORADO 80603.

The Board of Directors Proposes to amend the Bylaws of United Power, Inc. as follows:

• Housekeeping changes to keep titles, terms, and wording consistent throughout the document, clarifies the intent of vague bylaw language, and removes obsolete language.
• Changes to the bylaws where they are inconsistent with current Colorado State Statutes.
• Removes the descriptions of director district boundaries and replaces it with guidelines and procedures for potential redistricting as outlined.
• Updates and clarifications to the Director election process.

A complete redline of the proposed changes is available on the cooperative’s website at www.unitedpower.com, or members may obtain a hardcopy at any United Power office, or via mail by calling 303-637-1300 and requesting that a copy be mailed to them at the address on file with the cooperative.

Pursuant to Article 11.08 of the Bylaws of United Power Inc., you are hereby notified that the Board of Directors of United Power, Inc. proposes to adopt the following amendment(s) to United Power’s bylaws at a meeting of the Board to be held on October 25, 2023, unless a written petition is filed at United Power’s headquarters before the date of said meeting, signed by the lesser of five (5%) percent or 50 or more Members, protesting the proposed amendments. 

UNITED POWER, INC. By: /s/Tamra Waltemath, Secretary of the Board
 

United Power is pleased to see the Federal Energy Regulatory Commission’s (FERC) thoughtful and comprehensive order in the Stated Rate proceeding. The cooperative looks forward to Tri-State Generation and Transmission’s (Tri-State) revised formula rate filing, also referred to as the Come-Back Filing, incorporating FERC’s clear guidance. FERC’s order directs Tri-State to unbundle the costs of services in its wholesale power service rate to its utility members, such as United Power, and to ensure that any transmission cost allocation is consistent with cost causation principles outlined in Order No. 888. FERC confirmed that Tri-State, having voluntarily become FERC jurisdictional, is bound by FERC policies and precedents and cannot claim that its membership structure allows it to impose rates or terms that are not just and reasonable.
 
Of note, FERC also determined that Tri-State's Board Policy 119 was unjust and unreasonable because utility members that do not participate in community solar projects should not bear more costs than those members that do participate in the community solar program. Further, FERC required Tri-State to make a compliance filing, outlining how it will reimburse United Power for overcharges related to transmission/delivery demand charges assessed on battery storage resources.
 
United Power looks forward to receiving the Commission’s guidance on our other related filings. Final decisions from FERC will ensure that United Power exits Tri-State by May 1, 2024, with the ability not only to purchase power from multiple new suppliers, but to develop cleaner generation that is sourced locally while keeping rates affordable and maintaining the high reliability our members expect.

Separately, United Power is pleased with the Adams County decision denying Tri-State’s request for reconsideration of the Court’s July 28th order concerning Tri-State’s motion for summary judgment (MSJ). The Court has not yet responded to Tri-State’s appeal of the Court’s MSJ. In its appeal, Tri-State argues “[t]he duty of good faith and fair dealing is not implied in a cooperative’s bylaws.” United Power continues to believe that Tri-State has a duty to treat all its members fairly and to deal with them in good faith.

Cooperative Will Receive Full 30 MW of Output for 25 Years

United Power, Inc. (United Power), an electric cooperative serving Colorado’s northern Front Range, and Whetstone Power LLC (Whetstone) announce the signing of a power purchase agreement on July 27. Under the 25-year agreement, United Power will receive all the output of Whetstone’s Solar of Alamosa project beginning in May 2024.

“United Power is excited to commit to purchase the power generated by this proven solar project, at an attractive and stable price,” stated Mark A. Gabriel, President and CEO of United Power. “United Power will be able to immediately add 30 MW of renewable energy to our power portfolio, without having to go through the process of developing a new greenfield generation facility. The mix of power that cooperative members receive will be cleaner and more economical from day one of this contract.”

Whetstone and funds managed by Rosemawr Management acquired the 30 MW-ac Solar of Alamosa project in June 2022. Located in Alamosa in Colorado’s San Luis Valley, the innovative project used concentrated solar technology when it was initially developed in 2012. The facility’s current panels, inverters, and other components are scheduled to be replaced and modernized throughout 2024 to achieve optimum power output going forward.

“We are proud of the opportunity to serve United Power and the long-term partnership we have developed to provide renewable energy from the Solar of Alamosa facility,” said Collin Franceschi, Whetstone founding partner.

The solar project has been producing clean, renewable power for more than a decade, converting solar energy to electricity on one of Colorado’s highest elevation plateaus. The installation boasts that, at an elevation of approximately 7,500 feet above sea level, it receives some of the highest irradiance in the country.

“Rosemawr continues to be excited about the opportunities in renewable energy, and we very much look forward to this next chapter for the Solar of Alamosa facility with United Power,” said Josh Herlands, Rosemawr’s Head of Renewable Energy and Sustainable Infrastructure.

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.

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

Whetstone Power shapes and facilitates the sustainable energy transition one project at a time through project development, 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; and for inquiries, please contact collin@whetstonepower.com.

About Rosemawr Management

Rosemawr Management is an established investment firm focused on the sustainable infrastructure, municipal, not-for-profit, and charter school sectors. Rosemawr was founded in 2008 and currently has approximately $1.3 billion in assets under management. The firm's solar project portfolio currently includes investments in over 100 sustainable infrastructure energy projects located across 14 states, plus numerous investments across property assessed clean energy (PACE), wind energy, and other technologies. For more information, visit www.rosemawr.com; and for inquiries, please contact sustainable@rosemawr.com.

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These are interesting — and exciting — times in the electricity industry. At United Power, we are fortunate to be at the forefront of these changes, and we welcome the opportunities they bring our members and our communities.

As technology advances and the needs of our members change, it is important that we keep in mind the four guiding principles laid out in Our Cooperative Roadmap: Reliability, Affordability, Flexibility, and Responsibility. The Roadmap’s framework allows us to focus on key objectives as we operate a forward-thinking distribution utility.

United Power is one of the fastest growing utilities of any kind in the nation. Our residential membership continues to expand rapidly. Large commercial and industrial businesses are finding a home in our service territory, such as a recently announced solar manufacturing facility — coming in 2024 — and a planned battery manufacturer in Brighton. Dozens of similar facilities have sprung up in just the last two years. The landscape of our service territory has shifted considerably. 

Meeting the needs of our residential, commercial, and industrial members will require a combination of operational excellence, the deployment of new technologies, and joining a power market. As more members equip their homes and businesses with solar panels and batteries or drive electric vehicles, it will require United Power to think in new ways and adjust how we manage the cooperative. I am proud of the women and men who work diligently every day to make this happen. 

During the next several months, we will select new power suppliers to ensure our members receive lower cost energy from a diverse and carbon-reduced portfolio. Instead of relying on a single power supplier with huge overhead expenses and limited choices, our goal is to have multiple alternatives and increased flexibility. We want to ensure United Power has robust resources and sufficient power supply to meet current and growing demand.

In June, we signed an agreement to work with TEA Solutions, a sister company of The Energy Authority (TEA). TEA Solutions is a not-for-profit marketing organization that provides support for cooperatives like United Power in obtaining electric resources. The organization has decades of experience across the United States, which will be a critical advantage as we make the transition to new power suppliers and energy sources.

We continue to support our oil and gas members, who are trying to meet emissions-reduction requirements. These industries account for 30% of United Power revenue and many of our communities rely on them for jobs and tax revenue. Electrifying oil fields connects them to the cooperative’s distribution system, alleviating on-site emissions production. However, this requires close coordination and planning between these members, United Power, and the State of Colorado. We are committed to working together to facilitate this transition.

Meeting the opportunities presented by our growth and the change in technology requires a different way of thinking, planning, and operating. At United Power, we are continually working to improve our processes and embrace new technologies. By every measure, we have been successful — reliability is at a record high and resiliency is improving across the system. The women and men of United Power, who have support from the Board of Directors, have been doing this for many years. I am honored to work for every one of them.

The electric industry is not standing still, and neither is United Power. We are blessed every day with the opportunity to embrace change in the nation’s most critical infrastructure.

As always, please feel free to reach out to me or anyone else on the executive leadership team with your questions, comments, or concerns.

Battery capacity key to renewable integration and load stabilization

Brighton, CO — United Power, Inc. (United Power), an electric cooperative serving Colorado’s northern Front Range, and Ameresco, Inc. (Ameresco), a leading cleantech integrator specializing in energy efficiency and renewable energy, announce the signing of a groundbreaking battery storage contract. Under the 20-year agreement Ameresco will install a multiple site, 78.3 MW/313.34 MWh battery storage project on the cooperative’s electric distribution system.

The innovative project will strategically locate battery arrays throughout the cooperative’s service territory to allow United Power to balance its load while integrating renewable resources. The contract is just one of the many steps the cooperative is taking as it plans for the May 1, 2024 departure from its current wholesale power contract.

“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 with one of the most aggressive plans for such a system,” stated Mark A. Gabriel, President and CEO of United Power. “These battery arrays will allow us to balance our power needs throughout the day and incorporate local renewables more efficiently.”

Ameresco will provide four 11.75 MW and four 7.84 MW battery arrays, which will be located on eight different substation sites owned by United Power. The batteries, sited in Adams, Broomfield, and Weld counties, will enable the cooperative to store and dispatch power during heavy consumption periods. 

“We are thrilled to partner with United Power on this transformational battery storage project,” said Jon Mancini, Ameresco Senior Vice President of Solar Project Development. “By strategically locating distributed resources and battery storage throughout their service territory, United Power will make strides toward achieving a resilient and responsive power system that integrates clean and renewable power resources for their rate base.”

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 Ameresco

Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading cleantech integrator and renewable energy asset developer, owner and operator. Our comprehensive portfolio includes solutions that help customers reduce costs, decarbonize to net zero, and build energy resiliency while leveraging smart, connected technologies. From implementing energy efficiency and infrastructure upgrades to developing, constructing, and operating distributed energy resources – we are a trusted sustainability partner. Ameresco has successfully completed energy saving, environmentally responsible projects with Federal, state and local governments, utilities, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in Framingham, MA, Ameresco has more than 1,500 employees providing local expertise in North America and Europe. For more information, visit www.ameresco.com.

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Three local high school students traveled to Washington, D.C. in June where they represented United Power on the Electric Cooperative Youth Tour. The Youth Tour and upcoming Cooperative Youth Leadership Camp are opportunities for high school students to build relationships with other leaders among their peers and develop important leadership skills they can model in their communities and schools. It is also a great addition to any college resume. 

Electric Cooperative Youth Tour
Washington, D.C.

The Electric Cooperative Youth Tour has a proud history dating back to the National Rural Electric Cooperative Association’s (NRECA) annual meeting in 1957. The keynote speaker, Senate Majority Leader Lyndon B. Johnson, suggested sending youth to the nation’s capital to “see what the flag stands for and represents.”

During the summer Youth Tour, cooperatives from across the country send more than 1,300 students to Washington. The week-long “tour” includes meetings with locally elected officials in Congress and tours of historical monuments in and around the capital. Students also learn the value of the cooperatives they represent. This year, United Power sponsored three ambitious and exemplary high school students to participate on the Youth Tour — Gisell Mora, Weld Central High School, Sydney Dawson, Eagle Ridge Academy, and Johanni Delgado, The Academy of Charters. 

Before departing for Washington, students from Colorado and Wyoming toured the state capitol in Denver, participated in a high-voltage safety demonstration at United Power’s headquarters in Brighton, and heard presentations about cooperative career paths.

“This was a fantastic opportunity, and I am so grateful to United Power for providing it,” said Dawson. “Being able to see the capital and meet all my representatives in Congress was a surreal experience. I would highly recommend it to anyone and everyone.”

At the conclusion of Youth Tour, peers elect one student to represent their state on the Youth Leadership Council. The student selected as delegate participates in the NRECA annual meeting the following March with other delegates from across the country. Last year, United Power’s Youth Tour representative Elizabeth Clement was selected as the Colorado delegate on the 2022 Youth Leadership Council. 

“I could not recommend this trip more because you get to see so many things in such a short amount of time and you learn so much,” Clement said. “I did not even realize how much I was learning until the last day. I grew as a person on this trip.” 

Cooperative Youth Leadership Camp
Steamboat Springs, Colo.

Students depart for the Cooperative Youth Leadership Camp in mid-July. While camp takes place in the mountains outside Steamboat Springs, it is not a camp in the traditional sense. There are cabins and catered meals instead of tents and fires. Students representing co-ops in Colorado, Utah, Wyoming, Kansas, and Oklahoma spend a week managing their own cooperative, including the election of directors, to learn the value of the principles that guide co-op business practices and decisions.

Days are filled with cooperative-focused activities, leadership training seminars, and collaborative group projects. However, being a part of a cooperative is not all business. In between activities, campers enjoy some Colorado fun, like rafting down the Colorado River or exploring Fish Creek Falls in Steamboat Springs.

This year, three local students will represent United Power at the Youth Leadership Camp — Natalie & Sylvia Ingegneri, Niwot High School, and Rachael Schmidt, Frederick High School. 

Applications for youth opportunities, including scholarships and representation at next year’s Youth Tour or Youth Camp, will be available in early December. Follow us on social media for updates on all of our youth programs.