Customers to benefit from more savings, greater resource diversity and expanded transmission pathways PHOENIX & TUCSON, Ariz., November 25, 2024–(BUSINESS WIRE)–Today, Arizona Public Service (APS), Salt River Project (SRP), Tucson Electric Power (TEP) and UniSource Energy Services announced plans to join Southwest Power Pool’s (SPP) Markets+, a day-ahead and real-time energy market that is anticipated to span through the northwest, southwest and mountain west regions of the U.S. The new market is expected to bring enhanced reliability and savings of nearly $100 million above current market participation, passed back across the electric companies’ customers. It will also support the addition of more renewable resources to the energy grid, as Arizona continues to experience residential and business growth and record-breaking energy demand. Along with other western utilities, Markets+ is anticipated to help the Arizona energy providers respond efficiently to market price changes and regional weather events driving energy usage, while giving them access to a larger pool of diverse generation resources. After several years of strategic planning and development, APS, SRP, TEP and UniSource expect to participate in the new market as early as 2027. “Arizona is one of the fastest growing states in the country and we are thoughtfully planning for the future and evolving our operations to continue to provide top-tier service and reliability to our customers at an affordable cost,” said Brian Cole, APS Vice President of Resource Management. “Together with our neighboring utilities, APS plans to join Markets+ to efficiently deliver energy and bolster the resilience of our shared energy grid in Arizona and across the region.” “SRP’s participation in SPP Markets+ is a key component of our plan to meet the growing energy needs of our customers reliably and affordably and will help us achieve our 2035 Sustainability Goals,” said Josh Robertson, SRP Director of Energy Market Strategy. “We look forward to working with utilities in the region to bring the cost and resilience benefits to our respective customers.” “Tucson Electric Power and UniSource Energy Services are excited about the value that Markets+ can provide to our customers, including cost savings and greater access to clean energy and other resources that support affordable, reliable service,” said Erik Bakken, TEP Senior Vice President. “We look forward to strengthening an already collaborat …
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