Twin Eagle Resource Management, LLC and Public Service Company of Colorado (PSCo or Xcel Energy) applied at FERC for Twin Eagle to transfer to PSCo three wholesale power sales agreements to serve wholesale customers

The PSAs to be purchased by PSCo from Twin Eagle are the following:

(1) Partial Requirements Agreement dated as of February 28, 2013, by and among Arkansas River Power Authority and Twin Eagle Resource Management, LLC, as amended by that certain First Amendment to Partial Requirements Agreement Dated as of August 13, 2014, by and among Arkansas River Power Authority and Twin Eagle Resource Management, LLC, as further amended by that certain Second Amendment to Partial Requirements Agreement Dated as of November 21, 2017, by and among Arkansas River Power Authority and Twin Eagle Resource Management, LLC, and including the Written Waiver by Twin Eagle Resource Management, LLC, of Certain Provisions of Partial Requirements Agreement Dated as of January 25, 2019.

(2) Partial Requirements Agreement Dated as of September 24, 2015, by and among Big Horn County Electric Cooperative, Inc. and Twin Eagle Resource Management, LLC.

(3) Partial Requirements Agreement Executed on August 14, 2014, by and among City of Fountain, Colorado and Twin Eagle Resource Management, LLC, as amended by that certain First Amendment to the Partial Requirements Agreement Dated as of April 21, 2017, by and among City of Fountain, Colorado and Twin Eagle Resource Management, LLC.

The contracts are priced at market based rates negotiated by the parties

PSCo currently does not have market-based rate authorization within its BAA. Accordingly, in order to serve the ARPA and Fountain PSAs at the existing rates, terms, and conditions negotiated with Twin Eagle, PSCo will separately file for Commission authority under section 205 of the FPA to provide service at the existing rates in those PSAs.

In particular, PSCo will seek authority to provide the service under the ARPA PSA and the Fountain PSA at the existing contractual rates within PSCo’s BAA. "PSCo does not have market based rate authority in its own BAA, and accordingly cannot negotiate market-based rates with customers in that area. But as PSCo will explain in the separate Section 205 filing, it is just and reasonable to allow PSCo to charge these rates because they are the product of negotiations conducted by a non-affiliated seller with market-based rates (Twin Eagle) and the Commission has authorized a similar transaction in the past," the applications said

Tags:
M&A   Wholesale   Twin Eagle Resource Management   Xcel Energy   Colorado  

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