Rate-Payers Expected to Save Millions with New Wholesale Power Supply Contract

FOUNTAIN, Colo.--(BUSINESS WIRE)--This week the City of Fountain’s City Council voted unanimously to begin a new wholesale electricity partnership with Guzman Energy, a Denver-based, full-service wholesale power provider. The partnership began on May 13, 2020 and will enable the development of more than 36,000 megawatt hours of renewable energy generation in the community.

This partnership will not only lead to a greener, more sustainable energy portfolio with planned renewable installations, but the City will also realize significant cost savings – estimated at tens of millions of dollars over the life of the 12-year contract. With more power supply options and more affordable, clean energy available in the market, the City of Fountain worked with Guzman Energy to find a solution that will result in competitive and stable energy rates while greening up its resource mix.

“This unique partnership brings cost savings and sustainable resources to our community, and demonstrates what can be accomplished when two innovative and willing partners roll up their sleeves for the betterment of the community,” said Curtis Mitchell, Utilities Director for the City of Fountain.

Mitchell is expected to retire this month and completed this agreement as a way to secure the City’s strong and competitive position for the future. Guzman Energy has helped several local communities throughout the western United States increase access to renewable energy resources while reducing overall energy costs.

“Our goal is to help local communities innovate and expand their resource mix in a rapidly changing energy landscape,” said Jeff Heit, Managing Director of Origination at Guzman Energy. “We are excited to partner with the City of Fountain and look forward to serving the community for many years to come.”

About Guzman Energy

Guzman Energy is a full-service wholesale power provider focused on providing market-based solutions to address our customers’ energy challenges by delivering reliable and affordable power. We work closely with communities to identify their energy goals and customize solutions to promote economic competitiveness and sustainability. Our platform is leading a transformation from the legacy energy economy to the renewable and distributed age. To learn more, visit www.guzmanenergy.com.

About City of Fountain

The City of Fountain is a gateway to the Pikes Peak region, offering access to an affordable lifestyle in a pure Colorado setting; variety of activities, local fare, and entertainment abound. The City’s electric service territory spans over 65 square miles, providing service to a population of approximately 48,000. For more information, visit www.fountaincolorado.org.