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Fitch Reaffirms United Power ‘A’ Rating; Outlook Stable
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Tuesday | December 30, 2025
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United Power’s ‘A’ rating indicates the cooperative's low default risk, and strong capacity for repayment of financial commitments.

Brighton, CO – Fitch Ratings (Fitch), an international credit rating firm, recently reaffirmed United Power’s Issuer Default and 2024 First Mortgage Notes ratings each as ‘A,’ with a stable outlook. Fitch assesses the credit standing of businesses, communicating the credit worthiness and financial strength of the company to lenders.

United Power sought its first rating in March 2024 ahead of financing its departure from a long-term, all-requirements contract with regional power cooperative Tri-State Generation and Transmission. This contract termination provided United Power greater ability to integrate new energy resources and control a variety of expenses necessary to support the management and procurement of its energy portfolio.

“This rating review affirms the strength and solvency United Power has achieved and maintained in its first full year of power supply independence,” said Mark A. Gabriel, President and CEO of United Power. “After a dramatic shift in the business model, maintaining our credit rating reflects United Power's post-exit stability. The cooperative has greater control of its own future, resulting in greater flexibility and control over procuring and providing power for our members.”

Fitch closely evaluated United Power’s past financial performance and weighed the growth opportunities in the cooperative’s territory to reach its rating. United Power’s ‘A’ rating indicates the cooperative is at a low default risk, and its capacity for repayment of financial commitments is considered strong.

This rating further reflects United Power's very strong revenue defensibility assessment and strong operating risk profile.

You can find the press release from Fitch here.
 

December Message from Mark A. Gabriel

Monday | December 1, 2025
A message to United Power members from the cooperative's President & Chief Executive Officer.

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Maintaining A Standard
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Wednesday | November 26, 2025
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United Power consistently demonstrates excellence in system performance.

Reliability Outperforms National Averages Year-Over-Year

Members expect consistently reliable power from their electric utility. United Power has maintained a standard of excellence in system performance, delivering results that far exceed the national average year-over-year. The cooperative has continued to meet this standard while it navigated a power supply transition last year and is incorporating new, innovative projects that source and store power locally. 

The cooperative’s exit from its wholesale power contract in May of 2024 meant bringing on new contracts from a mix of traditional and sustainable resources into the distribution system. Aside from celebrating United Power’s energy independence, the switch was successfully executed without any power disruptions, ensuring members can count on the cooperative to maintain its standards for reliability and resiliency across the distribution system.

United Power has collected 18 months of data since the transition, demonstrating consistent system reliability.

Measuring Reliability, By the Numbers

Electric utilities use a variety of key performance indicators to measure how effectively and efficiently their systems are operating. The most common indicator is known as the System Average Interruption Duration Index, or SAIDI. United Power also tracks the System Average Interruption Frequency Index, or SAIFI. These indicators are among the many used by utilities to analyze system performance and calculate outage expectations for an average member. 

SAIDI is the measurement of cumulative outage time (in minutes) an average member would expect to experience over the course of a year. The national average across all electric utilities was 131 minutes in 2024 and nearly 240 minutes for cooperatives, according to the Energy Information Administration (EIA). United Power’s SAIDI score has stayed below 80 minutes each of the past three years and is just above 60 minutes through September of this year.

SAIFI measures the total number of outages an average member would expect to experience over the course of a year (frequency of outages experienced). United Power’s score of 0.90 in 2024 means the average meter experienced fewer than one outage throughout the year, again exceeding the national average across all electric utilities (1.07) and other cooperatives (1.61), per the EIA. Put another way, most United Power members were unlikely to experience more than one outage last year, and many did not experience an outage at all. 

Another performance indicator used by utilities measures the system’s overall availability rate. The co-op’s three-year availability rate was between 98.8% and 99.9%. 

“Our system’s performance is due to the great effort of our engineering and operations teams,” said Mark A. Gabriel, United Power’s President and CEO. “They are responsible for reviewing and interpreting data and developing strategies to improve the system. We are setting the standard for other utilities while meeting our members’ expectations.”

Building a Better System

United Power’s approach to maximizing system performance utilizes a comprehensive combination of design practices, proactive maintenance projects, and extensive integration of automated and smart field devices. 

Outages are an intrinsic reality for electric utilities. United Power can mitigate them, but cannot guarantee they will not happen. Mitigation begins with building the system so that outages are recognized earlier, impact fewer members, and are restored quickly — and more importantly, safely. The cooperative designs the system with these steps in mind. 

One of the ways this is accomplished is known as a “redundancy.” This essentially means that power can be rerouted from an alternate source to restore members during an outage while crews are investigating the cause or working on repairs. Most members are on a redundant system, which is part of why United Power’s average restoration times are also among the best in the country. 

Another design strategy is “sectionalizing.” This means that when a fault results in an outage, depending on where it is located down the line, it may affect fewer members. Devices are installed in sections throughout the distribution system to limit outage impact. 

United Power also deploys automated devices that collect system data. That information can help locate and clear faults to minimize outages and reduce restoration times or identify infrastructure that is not performing optimally and needs to be repaired. This data has been helpful in the cooperative’s maintenance plan, which proactively targets the worst-performing sections of the system to improve reliability and increase resiliency. 

United Power outperforms other electric utilities across the various metrics used to evaluate system performance, but the cooperative regularly reviews emerging strategies and innovative technologies that can further improve reliability. Delivering safe and reliable power is the co-op’s core responsibility to members. You can be sure it is not taken lightly.

Days of Service Returns

Tuesday | November 18, 2025
More than 90 employees volunteered at eight local organizations in October.

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LEGAL NOTICE: Change in the Rate Tariffs of United Power
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Monday | November 10, 2025
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United Power’s Board of Directors has approved changes to United Power’s rate tariff schedules for energy usage.

NOTICE OF CHANGE IN THE RATE TARIFFS OF UNITED POWER, INC.

DATE OF NOTICE:  Nov. 7, 2025

United Power Inc.’s elected board of directors has approved changes to United Power’s rate tariff schedules for energy usage, including increases to both demand and fixed charges, to become effective on or after Jan. 1, 2026, as described on each applicable rate tariff posted on www.unitedpower.com. Additionally, the on-peak window for residential and commercial time of use rates will change from the current window of 2:00 p.m. to 10:00 p.m. to a shorter window of 5:00 p.m. to 9:00 p.m. These adjustments are necessary for all rate classes due to increased wholesale power and transmission costs, increased costs due to tariffs and continued inflationary pressures on the supply chain, and to keep United Power in compliance with its indenture, note purchase agreements, and financial goals. There will also be a new rate class labeled Municipal Owned Lighting Service (MOL).

Rate Class Average Monthly Bill Increase
Residential (R1) 11.44%
Residential Time of Use (RTD1) 12.92%
Residential Time of Use Demand (RDP1) 14.14%
Smart Choice Residential (RD1) 10.89%
Small Commercial (C1) 11.23%
Small Commercial Time of Use (CTD1) 13.29%
Irrigation (IRR2) 10.90%
Large Commercial (ISD1) 10.76%
Large Commercial Coincidental Peak (CPS1) 10.72%
Small Industrial (SIP1) 11.23%
Large Industrial (IPD1) 10.72%
Large Industrial Coincidental Peak (CPP1) 10.72%
Industrial (ITD1) 10.59%
Industrial (ITD2) 10.71%
Industrial (ITD3) 10.70%
Industrial (ITD4) 10.70%
Non-Meter Street Lighting Service 10.71%
Shared Street Light Service 10.71%
Municipal Owned Lighting Service (MOL) N/A

The present and proposed tariff provisions are available for examination at the Coal Creek Branch Office, located at 5 Gross Dam Road, Golden, CO; the headquarters office located at 500 Cooperative Way, Brighton, CO; the Carbon Valley Branch Office at 9586 E. I-25 Frontage Road, Longmont, CO; and on the cooperative’s website at www.unitedpower.com.

Anyone who desires to file either an informal complaint or a formal complaint with United Power must do so in writing as required by United Power’s Rules and Regulations, accessible online at www.unitedpower.com/bylaws-rates-tariffs.

UNITED POWER, INC.

By: Mark A. Gabriel, President and Chief Executive Officer

MORE INFORMATION: United Power 2026 Rate Change Information

November Message from Mark A. Gabriel

Monday | November 3, 2025
A message to United Power members from the cooperative's President & Chief Executive Officer.

Dirt, Dust, and Electricity

Tuesday | October 28, 2025
United Power sent aid to help provide power to the Navajo Nation.

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United Power Enters Agreement with Aypa Power for Fortress Solar-Plus-Storage Project in Morgan County
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Tuesday | October 14, 2025
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The Fortress project that will combine 200 MW of solar with 150 MW/600 MWh of battery storage.

Brighton, CO – United Power, Inc. today announced it has entered into an agreement with Aypa Power for the Fortress project, a hybrid renewable energy project that will combine 200 megawatts (MW) of solar with 150 MW / 600 megawatt-hours (MWh) of battery energy storage near the City of Brush in Morgan County.
 
Scheduled to come online in 2027, Fortress will generate and store power for United Power members under a long-term power purchase agreement. The project supports the cooperative’s ongoing efforts to strengthen grid reliability and manage long-term power supply costs through a more diverse and locally sourced energy portfolio.
 
“United Power continues on a path to diversify and localize the power we purchase and deliver to our members,” said Mark A. Gabriel, United Power President and CEO. “We are investing in local projects that create a more robust generation system, which, in turn, will help us stabilize electric costs while investing in area economies. As the country grapples with the rising price of electricity, the cooperative is actively managing costs and seeking additional local generation resources. We believe our vision of a hyperlocalized electric system is the future of power production and it is an investment that will benefit all our members.”
 
Since leaving its former wholesale power provider in May of 2024, United Power has continued to invest in a portfolio of locally produced power sources, including several renewable energy and battery storage projects. Projects like Fortress represent significant investments in the state, helping ensure tax revenue and job creation benefit the communities United Power serves, while supporting a more resilient and member-focused energy network.

“Aypa Power is pleased to partner with United Power to bring the first phase of a 600 MW solar and battery storage complex online in Colorado,” said Dan Santelli, Chief Commercial Operator at Aypa Power. “Fortress will deliver low-cost energy and provide critical reliability, while supporting United Power’s commitment to dependable and locally sourced power.”

To learn more about United Power’s energy transition and its power portfolio, visit the cooperative’s website at www.unitedpower.com. 

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, serving more than 115,000 meters. Its 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. For more information about United Power, visit www.unitedpower.com or follow the cooperative on Facebook, X, LinkedIn, YouTube, and Instagram

About Aypa Power

Aypa Power, a Blackstone portfolio company, develops, owns, and operates utility-scale energy storage and hybrid renewable energy projects across North America. With 30 projects currently in operation or under construction, and a development pipeline exceeding 22 gigawatts, Aypa delivers solutions that strengthen grid reliability, integrate renewable energy, and reduce dependence on fossil fuels. Aypa has been at the forefront of energy storage development since its first energy storage project came online in 2018. For more information, follow Aypa Power on LinkedIn or visit www.aypapower.com.

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