AK SB143

Creates new Chapter 42.50 establishing energy and transmission corporations, allowing four or more municipal or cooperative electric utilities with interconnected service territories to organize for acquiring and operating power projects and coordinating power generation and transmission.

Authorizes specifically the formation of the Greater Railbelt Energy and Transmission Corporation by any combination of four or more utilities including Homer Electric Association, City of Seward, Chugach Electric Association, Municipality of Anchorage, Matanuska Electric Association, and Golden Valley Electric Association.

Board of directors consists of two directors from each public utility member (one CEO or designee, one appointed by governing body) plus one public director appointed by the governor; corporation operates on nonprofit basis with uniform rates.

Corporation shall be regulated by the Regulatory Commission of Alaska with legislative review of that regulation required five years after formation; corporation has general public utility powers except cannot make retail sales except to industrial customers and is not required to obtain a certificate.

Requires corporation to adopt integrated resource plans, long-range fuel supply plans, capital improvement plans, and financial management plans updated every five years, with all plans made available on the Internet to members, governor, legislature, and ratepayers.