What’s this three step plan to lower electric rates?

“There are ads on the radio and TV about GVEA’s three step plan. What’s this all about?” asked a member.

If you take a look at your bill, almost half probably goes to cover the Fuel and Purchased Power Charge. That charge covers all costs of fuel to operate our power plants as well as the cost to buy power from other utilities (like natural gas-fired power from Anchorage). Why does it cost so much? Oil is expensive! While GVEA has a diverse power supply including hydro, coal and natural gas, oil generates the majority of our electricity – about 38% in 2010.

Golden Valley has a plan to kick the oil habit. It involves three steps:

1. Bring Eva Creek online in 2012;
2. Restart HCCP in 2014;
3. And truck LNG from the North Slope to Fairbanks by 2015.

Of course, conservation is a big part of kicking the oil habit too. And this is something you can help with today; check out our list of ways to save around the house.

The Eva Creek Wind project is underway in Ferry, Alaska. At 24-megawatts, it will be the largest wind project in Alaska and the first by any Railbelt utility. Twelve turbines standing 180 meters tall are expected to be up and feeding electricity into our grid by September 2012. Find out more about the Eva Creek Wind project.

When the permit to operate the Healy Clean Coal Plant is renewed, the plant will provide 50 megawatts of stable-priced power to the Interior. HCCP is currently sitting in warm layup. Find out more about HCCP.

In July of 2011, GVEA entered into a partnership with Flint Hills to bring liquefied natural gas to the Interior. GVEA would use the gas to power its newest turbine at the power plant in North Pole. Flint Hills would use the gas as a supply fuel for the refining process at its North Pole refinery. The details of this project are still being ironed out.

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