Tucson Electric Power history

The reincorporated electric firm purchased the Tucson Gas Company in 1896 and became the Tucson Gas, Electric Light & Power Company (TGEL&PCo.).

The new company soon faced the same problem executives would have in later years -- how to keep pace with demand and pay the bills. Therefore, it seemed a good opportunity when, in late 1901, J. J. Henry of Denver offered to buy the company for $35,000 cash and take over about $15,000 in debt.

In 1905, controlling stock in TGELP & Co. was held by the United States Light and Traction Company of Denver.

On August 31, 1910, the company had assets of $761,693 and a surplus and net profits of $92,498.

By February 15, 1911, Federal Light and Traction Company of New York City owned all but a few shares of stock.

Statehood arrived in 1912 and with it came the Arizona Corporation Commission (ACC), which began regulating rates and overseeing the state's utilities.

Russell kept pace with technical developments and in 1915 began converting to the new diesel systems.

On October 11, 1920, fire badly damaged the gas plant.

He came to Tucson with the Western Union, loved to tinker with electricity and became so indispensable that he ran the company from the beginning until his death in 1923.

They were refurbished in 1925 and officially reopened with a "housewarming" for the townspeople.

He served until 1926, when Max A. Pooler was named manager.

TGEL&PCo. began purchasing gas from Western Gas Company of El Paso, Texas, in 1933.

In 1937, company employees formed a union that became Local 1116 of the International Brotherhood of Electrical Workers.

Pooler was named president in 1940.

In 1943, the Securities and Exchange Commission had ordered Federal Light and Traction Company to make divestiture of its holdings.

The city had filed a condemnation suit against the company in 1944.

For the first time since 1946, TEP eliminated the common stock dividend.

On July 5, 1949, general offices were moved from 81 N. Stone Ave. to leased space in the Tucson Title Insurance Building at 35 W. Pennington St The staff was back to within a few feet of where Russell cranked up the first generators more than five decades earlier.

The plant had an initial capacity of 24 megawatts, which grew to 98 megawatts by 1954.

To meet increasing demand, the company began building the 100 megawatt (MW) DeMoss Petrie Generating Station and the four-unit, 425 MW Irvington Generating Station in 1955.

In 1961, the company asked the ACC for permission to increase electric and gas rates by about 12 percent.

In 1964, the company ended its status as a "foreign corporation" in Arizona, changing the name and domicile from Tucson Gas, Electric Light and Power Company, a Colorado corporation, to Tucson Gas & Electric Company (TG & E), an Arizona corporation.

The search led in 1965 to formation of a consortium of utilities to build a large coal-fired plant, the Four Corners Project, near Farmington, N. M.

Irvington's fourth steam unit was completed in 1967.

Trading in company common stock moved from over-the-counter to the New York Stock Exchange in 1969.

In 1972, the company determined to meet the increasing demand for energy by joining with other utilities in plans to build a nuclear generating plant 60 miles west of Phoenix.

Also in 1973, when the Environmental Protection Agency overrode state air pollution regulations it felt were too lenient, TGE was ordered to reduce sulphur oxide fumes from one of its coal-fired plants by 70 percent in three years.

In 1974 a combination of inflation and growth put TGE's financial future in jeopardy.

In 1975 Einar Greve joined TGE as senior vice president.

In May 1976, Welp was named president.

In 1977, these sales amounted to 35% of energy sales.

On March 31, 1979, the company sold its gas division to Southwest Gas Corporation, a Las Vegas-based utility, for $39 million.

Welp announced that gains from common stock equity, increased electricity, sales, and better use of the company's power plants would preclude the need for any rate increase through 1980.

In 1981 Welp found that by selling its properties in one of the three counties in which it did business, TEP was eligible to issue $289 million in tax-exempt debt at rates three to five percent below that on conventional bonds.

Early in 1982 TEP signed an operating lease with Security Pacific during the construction period.

Sales of assets, which had not been charged to TEP customers, produced more than $200 million in cash in 1983.

In December 1984 TEP's board approved the distribution of all of Alamito Company common stock to its shareholders as a dividend to wholesale customers.

In February 1985 Welp retained a consultant on leveraged buyouts.

In 1987 TEP entered the savings and loan business by securing 14.9 percent of Citadel Holding Company and acquired a stake in Foothill Group Inc., a commercial lending and equipment leasing company.

Also in November 1988 TEP filed with the ACC for a two-part retail rate increase.

In May 1989 TEP's ten-year power sale agreement with SDGE expired.

In January 1990 the board eliminated the first quarter common stock dividend and said that there was little probability that a dividend would be paid for several years.

In return, the company received an interest-bearing note due in 1991 that increased common equity by $112 million.

Bayless was elected chairman on January 29, 1992.

Known for her collaborative approach to leadership, Gray began her career at TEP as an intern in 1994.

TEP would continue to generate, transmit, and distribute power to its retail customers and signed a contract to purchase 93 percent of Alamito's output through 1996.

The agreement was the first transmission and distribution asset acquisition by UniSource Energy since the holding company was established in 1998.

In 1999, the Arizona Corporation Commission (ACC) approved a settlement agreement designed to transition TEP into a competitive marketplace for retail electric service.

In 2000, TEP exceeded $1 billion in revenues for the first time in its history.

In November 2003, UniSource Energy's Board of Directors accepted an investor group's offer to purchase the company's outstanding common stock for $25.25 a share.

But the ACC rejected the proposed acquisition in December 2004, and UniSource Energy continued on as an independent shareholder-owned utility.

In January 2009, Paul Bonavia replaced the retiring James S. Pignatelli as UniSource Energy's Chairman, President and CEO. Bonavia pledged to extend TEP's historic commitment to renewable energy while establishing its leadership in environmental stewardship and energy efficiency.

Those efforts have contributed significantly to the success of TEP and its parent company, which changed its name to UNS Energy in May 2012.

In December 2013, the UNS Energy Board of Directors unanimously approved an acquisition offer from Fortis, Inc., Canada’s largest investor-owned gas and electric utility company.

Opens new window, TEP’s and UES’ parent company, in August 2014.

In 2017, Tucson Electric Power celebrated 125 years of service with special volunteer projects, donation drives and community events.