(COLORADO SPRINGS) — Colorado Springs Utilities (Springs Utilities) said they have saved customers $2.1 million in five months thanks to its involvement with a power pool.
Springs Utilities said it joined the Southwest Power Pool (SPP) Western Energy Imbalance Service (WEIS) back in August 2022. From then until December 2022, Springs Utilities saved customers $2.1 million through energy-related purchases and sales through the WEIS market.
SPP is a regional transmission organization and a nonprofit corporation mandated by the Federal Energy Regulatory Commission to help organizations like Springs Utilities meet their goals during changes in the energy industry.
“To realize more than $2 million in cost savings in just five months highlights why we joined SPP WEIS,” says Springs Utilities, Chief Executive Officer, Travas Deal. “By participating in shared resource pools like SPP WEIS, we can help maintain system reliability and manage energy costs for our customers – no matter regulatory mandates or market-related pressures.”
SPP WEIS helps Springs Utilities manage current and future energy costs by having real-time access to the latest market intelligence, enhancing the resiliency of its electric grid, and helping the organization access the lowest-cost resources from other member utilities.