United Power, Tri-State settle on terms for divorce
BRIGHTON and WESTMINSTER — A settlement agreement has been reached between Westminster-based nonprofit wholesale power supplier Tri-State Generation and Transmission Association Inc. and its largest member, Brighton-based electric cooperative United Power Inc., that will complete the companies’ contentious two-year divorce.
The companies this month executed a pact that sets forth terms for the two utilities to make good-faith efforts to execute a formal settlement agreement involving power purchases and the sale of utility assets from Tri-State to United Power.
Elements of the term sheet include a mutual release of claims and provisions specifying that the parties will cooperate to complete a settlement…
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