(a) The power cost equalization and rural electric capitalization fund is established as a separate fund for the purpose of
(1) equalizing power cost per kilowatt-hour statewide at a cost close to or equal to the mean of the cost per kilowatt-hour in Anchorage, Fairbanks, and Juneau by paying money from the fund to eligible electric utilities in the state; and
(2) making grants to eligible utilities under AS 42.45.180 to improve the performance of the utility.
(b) The fund shall be administered by the authority as a fund distinct from the other funds of the authority. The fund is composed of
(1) money appropriated to provide power cost equalization to eligible electric utilities and to provide grants for utility improvements;
(2) money appropriated from the National Petroleum Reserve - Alaska special revenue fund under AS 37.05.530(g);
(3) money appropriated from the power cost equalization endowment fund (AS 42.45.070) under AS 42.45.085(a);
(4) gifts, bequests, contributions from other sources, and federal money; and
(5) interest earned on the fund balance.
(c) The fund is not a dedicated fund.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.