In a May 28 order the Regulatory Commission of Alaska has approved Chugach Electric Association's proposed purchase of Municipal Light & Power but has rejected some of the terms in the agreement between the parties involved in the deal. The commission has specified modified components of a deal that the parties would need to agree to, if the purchase is to close.
Presumably it will now be up to the parties in the deal to determine whether they can agree with the commission's stipulations and, hence, whether the purchase will proceed.
The two Anchorage based electric utilities have argued that, by combining, they can achieve economies of scale while also eliminating functional duplication, hence minimizing electricity rates for their customers.
- ALAN BAILEY
See full story in June 7 issue, available online Friday, June 5 at www.PetroleumNews.com
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