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.
- Greg Salard, formerly of Wrangell, was ordered to spend the next 20 years in prison and pay a $25,000 fine.
- “Part of this funding is set aside to address the needs that the president saw firsthand when he visited coastal communities in Alaska that are seeing their homelands eroding into the ocean at a rapid pace," said Deputy Interior Secretary Mike Connor.
- Gastineau Humane Society called the dog aggressive and not a viable candidate for adoption. The Juneau couple wishes they’d been notified before the dog was put down.
- Dan Henry, also operator of the Skagway Fish Co., said he would make a decision about his future with the Skagway Borough Assembly after he returns home.