| Press Release | Source: Tucson Electric Power |
IBEW Members Ratify Labor Agreement with TEP
Thursday January 19, 7:09 pm ET
The agreement, which is effective from Jan. 30, 2006, through Jan. 25, 2009, provides for across-the-board wage increases of 3.25 percent in the first of the three years and 3.00 percent in each of the following two years. Pension and 401(k) Plan contributions will continue at present levels.
"This is a positive way to start the year," TEP's Chairman, President and CEO James S. Pignatelli said. "We've historically had a strong relationship with the IBEW, and this is one more example of labor and management at TEP working together to achieve something we can all support."
IBEW President James E. Corbin was similarly upbeat. "A large percentage of our union members voted on the ratification issue, and a solid majority gave it their approval. I'm happy that the negotiating team was able to secure a new contract for our employees."
More than half of TEP's 1,200 employees in Tucson and Springerville are covered by the agreement.
TEP, a subsidiary of UniSource Energy Corp. (NYSE: UNS - News), provides safe, reliable power to more than 380,000 customers in southern Arizona. For more information about Tucson Electric Power, visit tep.com. For more information about UniSource Energy Corp., visit uns.com.
Contact:
Tucson Electric Power
Art McDonald, 520-884-3628 (News Media)
Jo Smith, 520-884-3650 (Financial Analyst)
Source: Tucson Electric Power
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