AK HB182

Creates a new Chapter 50 in AS 42 authorizing the organization of energy and transmission corporations by four or more municipal or cooperative public utilities with electrically interconnected service territories.

Establishes the Greater Railbelt Energy and Transmission Corporation, comprising any combination of four or more utilities from: Homer Electric Association, City of Seward Electric Utility, Chugach Electric Association, Municipality of Anchorage Municipal Light and Power, Matanuska Electric Association, and Golden Valley Electric Association.

Grants the corporation powers to acquire, operate, and maintain power and transmission projects; generate and sell wholesale electric power; procure fuel supplies; issue bonds; and exercise eminent domain (except against public utilities), subject to regulation by the Regulatory Commission of Alaska.

Establishes a board of directors with two representatives from each public utility member plus seven public directors appointed by the governor; requires integrated resource planning, long-range fuel supply planning, and capital improvement planning updated every five years.

Makes the legislation conditional on four or more listed utilities delivering letters of intent to the Alaska Energy Authority by December 31, 2010, with effectiveness date of January 31, 2011.