Tucson Electric Power and the City of Tucson are proposing an investment agreement to Tucson residents that would fund projects that support Tucson’s climate action goals.
Joe Salkowski, director of communications for TEP says the energy collaboration would be a 25-year agreement.
“$2 million of shareholder funding for every year, for 25 years, total of $56 million over that time to be invested in projects that the city of Tucson has prioritized,” he said.
The agreement is contingent upon whether or not Tucson voters choose to renew a franchise agreement or rules for the utility’s use of public property.
“It eases the process for us when we have to perform work in the city’s right of way,” spokesperson for TEP Joe Barrios, said.
The current franchise agreement is set to expire in April of this year, but TEP officials say the franchise agreement will continue for…
