Company Overview of Tucson Electric Power Company
Tucson Electric Power Company generates, transmits, and distributes electricity in Arizona. The company generates electricity through coal, gas, oil, and solar projects. It serves 413,000 retail electric customers covering an area of 1,155 square miles in southeastern Arizona. As of December 31, 2013, the company owned or leased 2, 240 megawatts of net generating capacity; and owned or participated in an overhead electric transmission and distribution system consisting of 564 circuit-miles of 500-kilovolt (kV) lines, 1,088 circuit-miles of 345-kV lines, 413 circuit-miles of 138-kV lines, 481 circuit-miles of 46-kV lines, and 2,605 circuit-miles of lower voltage primary lines. It also has und...
88 East Broadway Boulevard
Tucson, AZ 85701
Founded in 1892
Key Executives for Tucson Electric Power Company
Chief Executive Officer, President, Director and Chief Executive Officer of UNS Energy Corporation
Chief Financial Officer, Senior Vice President and Director
Chief Compliance Officer and Vice President
Vice President and General Counsel
Compensation as of Fiscal Year 2014.
Tucson Electric Power Company Key Developments
Arizona Groups Urge Tucson Electric Power To Divest From San Juan Coal Plant
Feb 5 15
A coalition of Arizona community groups and businesses urged Tucson Electric Power Company to divest from San Juan Generating Station and instead commit to local, clean energy solutions, as reported.
UniSource Energy Services Gains Efficient Energy Resource with Purchase of Natural Gas Generation
Dec 11 14
UniSource Energy Services has strengthened its generating portfolio and reduced its reliance on the wholesale energy market through the purchase of a share of the efficient natural gas-fired Gila River Power Station in Gila Bend. Under the terms of the purchase, its subsidiary UNS Electric, Inc. and sister company Tucson Electric Power (TEP) acquired the 550-megawatt (MW) Gila River Power Station Power Block 3 from Gila River Power LLC for USD 219 million. UNS Electric will control 137 MW of the unit's energy, while TEP will own the remaining output. The plant represents UES' first "base-load" power plant intended for near-continuous use. The company also owns natural gas-fired turbines with a combined capacity of 153 MW, but those units are designed to produce power only during periods of high demand, when UES' peak can exceed 450 MW. UES has traditionally purchased the majority of its power on the wholesale energy market at variable prices that reflect natural gas costs, regional energy demand and other market forces. Gila River Power Block 3 will reduce the need for such purchases. The plant is designed to operate throughout the year and is capable of meeting approximately one-third of UES electric customers' energy needs.
Tucson Electric Power Co. Secures $200 Million in Credit Commitments
Dec 4 14
Tucson Electric Power entered into a credit agreement that provides for a $130 million term loan commitment and a $70 million revolving credit commitment. To supplement its liquidity, Tucson Electric Power Co. on Dec. 2 entered into a credit agreement that provides for a $130 million term loan commitment and a $70 million revolving credit commitment. Any amount borrowed under the term loan commitment must be drawn by Jan. 15, 2015, and may only be used to purchase certain existing tax-exempt bonds issued for the benefit of Tucson Electric. Any amount borrowed under the revolving credit commitment may be used for general corporate purposes. It expects that borrowings under the revolving credit commitment will be made from time to time to fund planned purchases of generating facilities and for other general corporate purposes. The Fortis Inc. subsidiary's core credit facility, which was entered into in 2010 and amended in 2011, has an expiration date of November 2016. That facility will continue to provide the company with access to $200 million of revolving credit and $82 million in letters of credit supporting variable-rate tax-exempt bonds. Tucson Electric said all loans made under the term loan and revolving credit commitments will be due and payable on the termination date of the credit agreement, which is Nov. 30, 2015. Tucson Electric entered into the credit agreement with MUFG Union Bank, as administrative agent, sole arranger and lender, and a group of lenders.
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