Arizona’s three largest electric utilities are teaming up to explore ways to meet rising demand through the expanded use of nuclear energy, with a possible new power plant envisioned 15 or more years out.

Arizona Public Service, Salt River Project and Tucson Electric Power on Feb. 5 jointly announced that they have been monitoring emerging nuclear technologies and have a shared interest in evaluating their potential, in response to growing power demand around the state.

APS, the state’s largest utility with 1.4 million residential and business customers, will spearhead the effort. SRP counts around 1 million customers in the state, and TEP has around 450,000.

The utilities say they will consider small nuclear reactors as well as large ones and will assess a range of possible locations, including sites where coal plants have or will be retired. The companies describe nuclear power as a valuable part of a diverse energy mix, providing reliable and clean power 24 hours a day, seven days a week.

“To ensure a reliable and affordable electric supply for our customers, we are committed to maintaining a diverse energy mix,” said Ted Geisler, president of APS, which owns and operates the nuclear Palo Verde Generating Station , about 55 miles west of downtown Phoenix.

“While new nuclear generation would take more than a decade to develop, the planning and exploration of options must begin now,” Geisler added.

SRP also has an ownership stake in Palo Verde.

Jim Pratt, SRP’s general manager and CEO, said his utility is “exploring all options to meet the growing energy needs of the Phoenix metropolitan area affordably, reliably and sustainably.”

Susan Gray, TEP’s president and CEO, said the development timeline would be lengthy, “So it makes sense for our state’s energy providers to begin this preliminary evaluation as soon as possible.”

A small nuclear reactor can generate up to roughly 300 megawatts, the utilities said, compared to 1,400 megawatts for the Palo Verde Generating Station. Each megawatt of electricity provides enough power for around 160 Arizona homes.

The utilities have applied for a grant from the U.S. Department of Energy.

If approved, the funding would support a three-year site selection process and possible preparation of an early-site permit application to the U.S. Nuclear Regulatory Commission. The process might involve identifying a preferred nuclear site as early as the late 2020s, with a plant to be operational by the early 2040s.

APS, which serves residential and business customers in 11 of Arizona’s 15 counties, has a commitment to provide 100% clean power, including nuclear, by 2050. APS’ current energy mix is about 54% clean.

SRP, a not-for-profit public power utility, is the largest provider of electricity in metro Phoenix and the area’s largest supplier of water. TEP, serving customers in Southern Arizona, along with its Arizona-based parent, UNS Energy, are subsidiaries of Fortis Inc.

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