APS, SRP joining energy market is ‘good for Arizona,’ says Court Rich, Rose Law Group co-founder and director of the firm’s renewable energy & utility infrastructure department.

By Kevin Stone | KTAR

PHOENIX — Four leading Arizona utility companies have agreed to join a new regional energy market called Markets+ in a move expected to create savings for customers and improve grid resilience.

Arizona Public Service, Salt River Project, Tucson Electric Power and UniSource Energy Services announced their commitment to the consortium last week.

APS and SRP are the primary electricity providers for metro Phoenix, while UniSource serves customers in Mohave and Santa Cruz counties.

Why do utility companies participate in energy markets?

Utility companies participate in different types of energy markets to buy and sell excess electricity to address typical and atypical shifts in supply and demand.

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“Arizona utilities joining a broader market is a good thing for Arizona. The market creates opportunities for utilities, businesses, and consumers that need more power and greater choice. As energy becomes more constrained, the ability to trade power regionally will become more and more valuable to everyone. For Arizona’s solar industry, this creates additional opportunities for siting solar plants to harvest Arizona’s abundant sun that can serve a regional, rather than merely local area.”

-Court Rich, Rose Law Group co-founder and director of the firm’s renewable energy & utility infrastructure department