Documents and supporting materials for the March 3, 2018 AEDC Board of Directors special meeting.
The first seven documents provide background and context for the current proposal that will be on the April 4th ballot. Included are AEDC’s letter that spurred the initial conversation, NERA Economic Consulting’s report on the proposed sale, Chugach’s presentation of the proposed acquisition to the Anchorage Chamber of Commerce and their presentation to the AEDC Board, and the Goldman Sachs valuation of ML&P for reference. Update: On 3/5/18, the Anchorage Chamber of Commerce made their Board of Director’s decision to support Proposition 10 public, view the document below. On 3/6/18, the Municipality provided AEDC with a comparison of Chugach’s preliminary offer compared to the figures in the letters of interest issued from other interested parties.
- AEDC Utilities Working Group Recommendation Letter | 4/12/17
- Assembly Resolution 2017-235, passed as a result of AEDC’s Utilities Working Group Recommendation Letter |6/13/17
- ML&P valuation report by Goldman Sachs | 8/9/17
- NERA Report on the Proposed Sale | 1/23/18
- Chugach Electric Anchorage Chamber of Commerce presentation | 2/2/18
- Chugach Electric presentation to AEDC Board | 2/20/18
- ML&P Ballot Proposition 10 | 1/19/18
- Anchorage Chamber Proposition 10 support press release | 3/5/18
- ML&P Comparison Chart | 3/6/18
- Chamber of Commerce Board Member Letter regarding Proposition 10 | 3/13/18
The following six documents are letters of interest sent to the Municipality at their request, with the intention of bench marking the value of Chugach’s offer.
- MEA Letter of Interest | 12/7/17
- MEA email exchange | 12/12/17
- GVEA Letter of Interest | 11/22/17
- CIRI Letter of Interest | 11/22/17
- Avista Corporation Letter of Interest pt. 1 / pt. 2 | 11/22/17
- ARES EIF Letter of Interest pt. 1 / pt. 2 | 11/22/17
The three news articles below detail background on the proposed ML&P and Chugach deal using information from Freedom of Information Act Requests; the Municipality cannot comment on many matters surrounding these documents to do Non-Disclosure Agreements.
- Anchorage Daily News: Anchorage mayor proposes to sell MLP to Chugach Electric in $1 billion deal | 12/21/17
- Anchorage Daily News: ML&P’s $1 billion price tag: Confidential report sheds light on deal | 1/26/18
- Anchorage Daily News: 5 other companies expressed interest in buying Anchorage power company | 2/20/18
- Daily News Miner: GVEA Not Interested in Buying ML&P | 2/23/18