The parties who signed the historic PSA include the Public Service Company of Colorado (PSCo), its parent company Xcel Energy, and the Colorado River District. The multi-year campaign to bring Shoshone permanency to the finish line via fundraising, public outreach, and an Instream Flow Agreement and change case, however, is  a broad-based, statewide stakeholder partnership effort referred to as the Shoshone Water Right Preservation Coalition. 

The $98.5 million PSA to acquire the Shoshone water rights is no small price tag, but the one-time investment to protect Colorado River flows in perpetuity is a durable solution with priceless benefits for generations of water users to come.

To close the transaction and authorize the expenditure of public funds for the acquisition of the Shoshone Water Rights, the PSA contains four closing conditions that must be met by December 31, 2027, unless that deadline is extended by mutual agreement. The four closing conditions described in the PSA are as follows:

  1. Negotiation of an instream flow agreement with the CWCB. The PSA contemplates that the River District and PSCo will negotiate with the CWCB for an agreement that authorizes the CWCB to use the Shoshone Water Rights for instream purposes when the rights are not being used for hydropower generation.
  2. A change of water right decree. The PSA provides that the parties anticipate being co-applicants with the CWCB in the filing of an application for adjudication of a change of water right decree to allow the Shoshone Water Rights to be used by the CWCB for instream flow purposes in accordance with the terms of the instream flow agreement.
  3. Approval by the Colorado Public Utilities Commission. The PSA contemplates that PSCo will petition the Colorado Public Utilities Commission (PUC) to approve the sale of the Shoshone Water Rights and the disposition of proceeds.
  4. Secured funding. The PSA requires the River District to secure funding for the negotiated purchase price ($98.5 million) prior to the commencement of the PUC process.