HomeMy WebLinkAboutRes. 2021-02 Endorsing Senate Joint Resolution No. 6 2021ALASKA ENERGY AUTHORITY
RESOLUTION NO.2021-02
RESOLUTION OF THE ALASKA ENERGY AUTHORITY
ENDORSING SENATE JOINT RESOLUTION NO.6
WHEREAS, The Alaska Energy Authority ("the Authority") is the principal agency
administering the Power Cost Equalization (PCE) program; and
WHEREAS, The Authority, along with the Regulatory Commission of Alaska,
administers the PCE program created to equalize the cost of electrical power between rural and
urban Alaska; and
WHEREAS, The PCE program was established in 1984, as one of the components of a
statewide energy plan. In 2000, the Legislature created and seeded the PCE Endowment Fund
to ensure the long-term sustainability of the PCE program. The program serves approximately
81,700 Alaskans in 192 communities largely reliant on diesel fuel for power generation; and
WHEREAS, Funded by the PCE Endowment, the PCE program provides economic and
personal certainty to thousands of Alaskans. The current balance of the PCE Endowment Fund is
approximately $1.1 billion; and
WHEREAS, Governor Dunleavy's proposal to move the PCE Endowment Fund into the
Permanent Fund lays the foundation for a stable energy policy for rural Alaska and assures this
important lifeline of rural Alaska enjoys long-term viability; and
WHEREAS, The State has invested billions of dollars in Anchorage, Matanuska-
Susitna Valley, and Fairbanks to reduce the cost of energy, and while in rural Alaska, residents
do not have those same energy infrastructure opportunities; and
WHEREAS, The PCE program lowers the cost of power for the first 500 kilowatt-
hours of electricity used by residential customers, thereby reducing the cost of living in rural
Alaska and enhancing the standard of living by making energy more affordable; and
WHEREAS, The Board of Directors of The Authority have carefully considered Senate
Joint Resolution 6 as amended by the Governor to include the PCE Endowment in the Corpus of
the Permanent Fund;
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NOW THEREFORE BE IT RESOLVED THAT THE BOARD OF DIRECTORS OF THE
AUTHORITY ENDORSES THE PROTECTION OF THE PCE ENDOWMENT AND ITS
INCLUSION IN THE PERMANENT FUND.
Dated at ANCHORAGE, ALASKA ON THIS 19TH DAY OF MAY, 2021.
J. Dana Pruhs, Chair
Curtis W. Thayer, Secretary
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