The Matanuska Electric Association board of directors last week unanimously voted to cut electric rates by almost 1.7% starting the first week of April. Rates were raised almost 17% last month, due to the higher natural gas prices paid by MEA to Chugach Electric Association.
The Board of Directors announced that more than 10,000 members should receive capital credit checks. Members who are due $25 or less will receive a credit on their next electric bill instead. According to MEA, this round of distribution represents one percent of what was in MEA member’s capital credit accounts at the end of 2007.
At the same meeting, the Board of Directors unanimously voted to offer $2.5 million to Eklutna Native Corporation for 70 acres of land on which to build a 180 megawatt power plant. The power plant would be natural gas fired. MEA has been eyeing the land for the past year. MEA’s contract with Chugach Electric runs out in 2014, at which time alternative sources of power will be needed.
