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Phoenix, Ariz. — The Arizona Corporation Commission voted on 23 matters, including water, telecommunications, electric and railroad items. Highlights from the meeting include:
Securities
Utilities
Labi Investments LLC, et al. (S-21361A-25-0158) - The Commission ordered Lisa Anne Boisselle and LABI Investments LLC doing business in Arizona, as Wealthwise, to pay $1,398,900 in restitution and $75,000 administrative penalties for committing securities fraud. Boisselle was president of Wealthwise and held an investment advisory license until February 2022. In 2021, Boisselle solicited $1,398,900 from at least 16 clients to invest in two cryptocurrency asset-related programs, NovaTech and HyperFund (also known as HyperVerse). She represented to some of the investors that their money was safe, secure, and accessible to withdraw at any time. In 2022, domestic and foreign regulators issued warnings to investors and brought legal actions against NovaTech. Boisselle failed to disclose these legal actions to investors. Boisselle and Wealthwise failed to answer to cease and desist charges in this matter.
Kevin Ray Goodwin et al. (S-21336A-24-0251) - The Commissioner ordered Kevin Ray Goodwin and Overwatch Management Group LLC to pay $281,000 in restitution and $28,000 in administrative penalties for violations of the Securities Act and the Investment Management Act. The Commission also revoked Goodwin’s and Overwatch’s licenses as an investment advisers. Goodwin borrowed $300,000 from one of his clients and issued promissory notes to the client reflecting the funds borrowed. The Commission found the conduct constituted dishonest and unethical practices in the securities industry.
Baccara Power, LLC. (L-21369A-25-0222-00253) - The Commission voted unanimously to approve a Certificate of Environmental Compatibility (CEC) for Baccara Power, LLC. Takanock, LLC is proposing to build a new data center with on-site natural gas generators, called Project Baccara, in the West Valley area of Maricopa County. The Project is slated to include two data center buildings and approximately 700 MW of natural gas generators to supply power both to the data center and in support of the regional power grid. The Project is located in an industrial area north of Luke Air Force Base at the northeast corner of Olive Avenue and Bullard Avenue Alignment. The Arizona Power Plant and Line Siting Committee held its hearing and voted 8-1 to approve the CEC in December 2025, saying the Project met environmental compatibility standards. ACC Chair Nick Myers explained to the public that the ACC’s job is not to approve or deny the data center, rather its job is to ensure the proposed electric generation and interconnection meet the CEC requirements as outlined in statute. Takanock, LLC’s president told the Commission that it plans to use cooled chillers, not evaporative coolers, at the data facility which reduces the need for massive amounts of water for cooling. Additionally, the Project plans to utilize wastewater from a nearby brewery and produce potable reclaimed wastewater for use at its facilities, reducing the use of groundwater to nearly zero. All expenses will be paid for by the developer. Approvals of the Project from Maricopa County and Luke Air Force Base officials are pending.
Cypress Creek Renewables, LLC (L-21370A-25-0228-00254) - The Commission voted unanimously to approve a Certificate of Environmental Compatibility for Cypress Creek Renewables, LLC and the interconnection of the Cactus Flower Solar Project, a 270 MW generating facility and 270 MW battery energy storage system. The Project includes construction of a new nine-mil long, 230kV transmission line. The solar Project is located in Pinal County and is expected to provide power to approximately 46,000 homes annually.
Arizona Public Service Company (E-01345A-25-0140) - The Commission voted unanimously to approve Arizona Public Service Company’s (APS) 2026 Renewable Energy Standard (RES) implementation plan and reduce its Renewable Energy Adjustment Charge (REAC). The Commission denied recovery through the REAC Surcharge for the Arizona Goes Solar website ($360), 2026 license for New Oracle Opower Solar Tool for solar customers ($700,000), and for the REC and Clean Energy Accounting Software ($500,000). The Commission approved an amendment from Vice Chair Rachel Walden denying recovery for the software licensing of the WattPlan program ($150,000) and denying APS’s request for a five-year total RES budget of $700.1 million from 2026-2030. The Commission also adopted an amendment from Commissioner Kevin Thompson that disallows the use of ratepayer money to maintain and operate the Arizona Goes Solar website. The Commission is scheduled to vote on the repeal of the Renewable Energy Standard and Tariff this spring.
Arizona Public Service Company (E-01345A-25-01407) - The Commission voted unanimously to expand Arizona Public Service (APS) Company’s Green Power Partners Program, which is expected to save ratepayers $30 million in 2026. The program allows customers to voluntarily purchase Renewable Energy Credits (RECs) produced from APS renewable resources. The sale of the RECs provides value in the form of additional credit to APS’s Renewable Energy Adjustment Charge (REAC) thereby reducing the REAC surcharge for APS ratepayers.
