SB 243 Summary

• Amends AS 42.45.080(a) to replace the specific investment return requirement (four percent nominal return over five years) with a broader prudent-investor standard that emphasizes preservation of purchasing power and maximization of total return from income and capital appreciation.

• Removes the previous language requiring the power cost equalization fund to be invested "in a manner likely to achieve at least a four percent nominal return over a five-year period."

• Increases the monthly kilowatt-hour threshold for residential customers receiving power cost equalization from 500 to 750 kilowatt-hours per month under AS 42.45.110(b).

• Maintains the 70 kilowatt-hours per month threshold for power sold to local community facilities, with population determined annually using U.S. Census data or other reliable sources.

• Takes effect July 1, 2022.