May 02 2008
Four Dam Pool Meetings Bring KEA Closer To Buying Terror Lake
Friday, 02 May 2008

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Scott Says Deal Should Be Done By The End Of This Year

            Kodiak Electric Association President and CEO Darron Scott just returned from the Four Dam Pool Power Agency meeting in Wrangell.

The agency is working on a restructuring plan that would allow KEA to purchase the Terror Lake Hydroelectric plant for 38-million dollars. Scott says the meeting was productive, and a deal should be worked out soon.

(Scott 1                                  :19s                 “…by the end of this year.”)

As the name implies, the Four Dam Pool currently owns four hydro plants in Alaska. The other plants service the communities of Ketchikan, Wrangell and Petersburg in Southeast and Glennallen and Valdez in Southcentral. Scott says most of the meeting this week focused on what the Southeast members would do once the Southcentral utilities split off.

(Scott 2                                  :10s                 “…answered down in Wrangell.”)

Part of the impetus for KEA wanting to buy Terror Lake from the Four Dam Pool is that the utility currently supplies 40 percent of the pool’s income, but only gets back 25 percent of the funds paid out by the agency.