AERC’s officials signed documents agreeing to the sale on Monday, after the deal was approved by company’s board of directors.
AELP has provided electric service to Juneau since 1894. It operates Snettisham and Lake Dorothy hydroelectric facilities as well as smaller plants Salmon Creek, Gold Creek and Annex Creek.
Avista is an electric and gas utility headquartered in Spokane and providing service in parts of Washington, Oregon, Idaho and Montana.
According to a release, AERC’s board wanted a buyer that would focus on providing reliable and competitively priced electric service, continue to contribute to the Juneau community, and provide job satisfaction for AEL&P employees. AERC’s board says Avista is a good fit.
The transaction will close by July 1, 2014, after approval by the Federal Energy Regulatory Commission.
A news conference began at 1:30 p.m. at the AEL&P headquarters in Lemon Creek. Check back for more details on the merger.
To read our updated story, click here.
- SueAnn Lindoff is in charge of the new youth tribal court program. She hopes it will start taking youth in a few weeks, a student or two at a time.
- Sen. Dan Sullivan said visiting communities in Alaska, and hearing directly from constituents, helps keep him inspired in the Senate. It also helps him know what’s important to Alaskans in those individual communities.
- It appears a proposed Skagway raptor tour that has drawn resistance from some in the community will be able to move forward. Alaska Mountain Guides is partnering with the American Bald Eagle Foundation in Haines to bring a raptor tour to the Liarsville neighborhood in Skagway.
- Alaska Division of Homeland Security and the Juneau Local Emergency Planning Committee hosted the event featuring earthquake simulator located in downtown Juneau.