Grand Valley Power Selects Guzman Energy as Wholesale Power Provider
Western Colorado electric cooperative selects new partner to provide reliable, price-stable wholesale power
GRAND JUNCTION, COLO. - (June 1, 2023) Grand Valley Power has selected Guzman Energy to serve as its wholesale power provider beginning in five years on June 1, 2028. The new 15-year power supply agreement features fixed wholesale power pricing that will provide the cooperative with predictable and stable power supply costs.
"After navigating several years of volatile wholesale energy prices, we are pleased to partner with Guzman," said Tom Walch, Chief Executive Officer of Grand Valley Power. "Beginning in 2028, the new partnership will ensure that we deliver reliable and affordable electricity at fixed wholesale rates, stabilizing the cost of purchased power for our members."
The Guzman Energy team brings extensive experience in developing customized energy solutions for cooperatives, municipalities and tribes. The power agreement for Grand Valley Power features a fixed-price structure.
When it takes effect, the new agreement will eliminate the monthly fuel cost charges that Grand Valley Power members currently pay, providing significant savings on wholesale power costs. For the next five years, Grand Valley Power will continue to buy its power from Xcel Energy and doesn’t expect this announcement to change its business relationship in the short term. While Guzman Energy will be Grand Valley Power’s wholesale electricity provider beginning on June 1, 2028, Grand Valley Power will continue to partner with Xcel to deliver that energy through its transmission infrastructure to Grand Valley Power’s distribution system. Guzman will either own the generation assets used to provide electric energy for Grand Valley Power or hold commitments for that energy from identifiable generation assets and providers.
"Communities want power cost stability and predictability" said Jeffrey M. Heit, Principal, Managing Director of Guzman Energy. "Guzman Energy is proud to be supplying wholesale power in cost-effective ways while maintaining reliability. We look forward to our new partnership with Grand Valley Power in service to their member owners."
About Guzman Energy
Guzman Energy is a wholesale power provider dedicated to communities in search of affordable and reliable energy. We partner with cooperatives, municipalities, companies, and tribes across North America to customize energy portfolios that make economic and environmental sense for today and tomorrow. Together, we are lighting the way forward. Visit guzmanenergy.com.
About Grand Valley Power
Organized in 1936, Grand Valley Power is the oldest rural not-for-profit electric cooperative in Colorado. Serving over 19,000 meters within the Mesa County area, Grand Valley Power is dedicated to empowering lives with hometown service and delivering safe, reliable and affordable electricity.
CONTACT
Rita Sanders, Director of Marketing and Communications
Grand Valley Power
rsanders@gvp.org