Interior utility company says it's closely watching the ML&P sale

By  | 

FAIRBANKS, Alaska (KTUU) - An Interior Alaska utility company says it’s closely watching the outcome of Municipal Light & Power's sale to Chugach Electric.

Cory Borgeson, CEO of Golden Valley Electric, says he's concerned about the sale.

"Our interest is whether or not our working relationship with ML&P will change," he said.

In a release Tuesday, the electric company says it has submitted a letter of interest, so it could understand and monitor the potential sale.

GVEA purchased about $21 million worth of power of ML&P, according to the release. It also owns 17 percent of the Bradley Lake Hydroelectric Project.

During assembly meeting pitches, Chugach CEO Lee Thibert said the deal would guarantee that rates would not go up.

GVEA's Borgeson says he still has questions.

"We're worried that if costs don't go up in Anchorage, then they might go up for our customers," he told Channel 2 on Wednesday.

The ordinance will be on the April 3 municipal ballot for Anchorage voters to decide.

Comments are posted from viewers like you and do not always reflect the views of this station. powered by Disqus