Back to top

Current News

Members notified of Capital Credit Allocation

Chugach members who received electric service in 2018 received their capital credit allocation message on their July billing statement. The total allocation for retail members in 2018 was just over $5.3 million.

Each year, Chugach allocates margins—revenues remaining after expenses are paid—to members receiving service during the year. These margins are allocated based on the amount of electric service a member purchases each year, compared to the total service purchased by all members. {191287349}

Capital credits are used by Chugach to provide safe, reliable electric service by investing in substations, poles, lines, and other critical infrastructure. As a not-for-profit cooperative, the capital credits are used as operating funds until they are returned to members via a retirement process. The process of retiring capital credits is determined and approved by the Chugach Board of Directors. The allocations for 2018 will be paid out as a check or a bill credit in approximately 25 years.

Chugach members elect directors

Chugach Electric Association, Inc. members re-elected Bettina Chastain and Harold Hollis to the utility’s Board of Directors. Election results were announced Tuesday night, May 21, at the electric cooperative’s annual meeting held at the Dena’ina Civic and Convention Center. Bettina Chastain, Harold Hollis, Mitchell Roth and Ron Stafford ran for the two open seats. Directors Chastain and Hollis will serve four-year terms.

Of Chugach’s 69,320 members of record, 6,719—or 9.7 percent—cast ballots in the 2019 election. A total of 244 members registered at the meeting, with attendance estimated at between 450-500 people.

Director Chastain was first elected to the board in 2015. Director Hollis was appointed in July 2018, after former Director Sisi Cooper resigned from the board.

At this year’s annual meeting, Chugach members also approved two bylaw changes. The first clarified residency requirements for board members; the second expanded the number of trainings and educational conferences board members can attend annually while representing the cooperative. The Board of Directors elected new officers Wednesday night at a regularly-scheduled meeting. Bettina Chastain was re-elected Chair; Susan Reeves was re-elected Vice-Chair; Stuart Parks was re-elected Secretary; and Rachel Morse was re-elected Treasurer.

Chugach’s 2018 Annual Report is available and on-line at https://www.chugachelectric.com/system/files/annual_reports/

 

 

Annual Meeting and Election

Chugach’s annual election is underway. Members can vote for two seats on the Chugach Board of Directors and two proposed bylaw changes. For more information click here.

 

 

 

 

 

 

Chugach seeks approval of ML&P acquisition from RCA

One year after Anchorage voters authorized the Municipality of Anchorage (MOA) to sell Municipal Light & Power (ML&P) to Chugach Electric Association, Chugach has filed an Asset Purchase and Sale Agreement with the Regulatory Commission of Alaska (RCA) for its review and approval of the acquisition. In its filing April 1, Chugach filed an application to expand its service territory under its Certificate of Public Convenience and Necessity (CPCN) to include the service territory currently served by ML&P. 

“After thousands of hours of thought, analysis, and negotiations, we are very pleased to reach this milestone,” said Chugach CEO Lee Thibert. “We know we will save electric ratepayers money over the long-term with this acquisition. We look forward to outlining our case to the RCA and moving forward with this effort that will have a positive impact in Anchorage for decades to come.”

“The amount of work and effort from Chugach, ML&P, and the city getting to this point has been outstanding,” said Chugach Board Chair Bettina Chastain. “The timing was right, and everybody came together, putting their best foot forward to do something that will be good for the community as a whole.” 
 

See more