"Tim McLeod"

The president of Juneau’s electric utility announced on Wednesday that he’s retiring after 34 years.

Tim McLeod, AEL&P’s president, says the company thought heating with natural gas could save customers money but circumstances have changed.

Juneau Hydropower Inc. was recently awarded a federal license for Sweetheart Lake Dam. It could power a gold mine and supply heat to the downtown core of the capital city with an innovative system.

For the city’s residents, that means the price for electricity is likely to go up. Before the development goes any further, some community members are asking the state’s regulatory commission to take a closer look.

Alaska Energy and Resources Company will join Avista subsidiary Avista Utilities by July 2014, pending the approval of state and federal regulators, as well as AERC shareholders.