Company eyes rate hike

Posted: Friday, July 15, 2005

Alaska Electric Light and Power customers could face higher rates this winter as the utility looks to file for a rate increase with the Alaska Regulatory Commission.

President and General Manager Tim McLeod said the proposed 5 percent rate increase was unrelated to its agreement to sell power to Greens Creek Mine, but the deal would offset about a third of the increased revenues the company is seeking.

Gayle Wood, the company's Juneau office manager, said the commission could take 15 to 18 months before finalizing the proposed increase, though it could grant an interim increase of about 75 to 80 percent of the request within the first 45 days.

"We'll probably file the first week of August," she said.

That means customers could see an interim rate increase of about 3.5 to 4 percent before the end of the year, she added.

Wood said it has been five years since AEL&P has raised its rates. "General operating expenses are greater," she said.

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