Alaska Coop Seeks Purchase of For-Profit Utility
Posted on Oct 14, 2013 in Corporate Governance, Mergers/Acquisitions, Rates, Regulation & Policy | Comments Off on Alaska Coop Seeks Purchase of For-Profit Utility
Alaska Village Electric Cooperative (AVEC), which serves Western Alaska, is seeking to buy Bethel Utilities Corporation (BUC), a for-profit company. According to AVEC’s President, the buyout, on schedule to become effective this Spring, would cut electric rates for customers of both entities. BUC’s rates could drop by 8 to 10 percent immediately. The two entities jointly sought approval of the deal from the Regulatory Commission of Alaska. The Commission is expected to rule on the transfer by December 12. Click here to read the full story.
