Tri-State Generation & Transmission Association, Inc. 8-K

What Happened

• Tri-State Generation & Transmission Association, Inc. announced that The Midwest Electric Cooperative Corporation (Midwest) provided a non‑conditional two‑year notice on May 27, 2026, of its intent to withdraw from Tri‑State membership under Tri‑State’s FERC‑filed Rate Schedule No. 281. Midwest’s stated withdrawal effective date is June 1, 2028.
• Tri‑State noted that certain elements of Rate Schedule No. 281 are the subject of ongoing proceedings in the U.S. Court of Appeals for the Tenth Circuit and the D.C. Circuit. Tri‑State said it cannot predict whether Midwest will complete the withdrawal or the ultimate outcome of any proceedings. Tri‑State issued a related press release on May 28, 2026 (Exhibit 99.1).

Key Details

• Midwest submitted a non‑conditional two‑year notice of intent to withdraw on May 27, 2026; effective withdrawal date: June 1, 2028.
• Midwest represented 1.9% of Tri‑State’s utility member revenue and 1.3% of Tri‑State’s operating revenue for the year ended December 31, 2025.
• The withdrawal process is governed by Tri‑State’s Rate Schedule No. 281 (on file with FERC); parts of that tariff are under appeal in federal courts.
• Tri‑State disclosed the notice under Regulation FD and attached a press statement as Exhibit 99.1 to the 8‑K.

Why It Matters

• For investors, the immediate financial impact appears limited based on Midwest’s 2025 revenue shares (1.9% of utility member revenue; 1.3% of operating revenue), but the filing signals a potential future loss of a customer if the withdrawal proceeds.
• Legal and procedural uncertainty remains because key elements of the withdrawal tariff are subject to appeals; that could affect how the exit is processed and any termination payments or obligations.
• Tri‑State did not provide forecasts or changes to guidance; the company says it cannot predict whether the withdrawal will be completed or its final financial effects.