HomeMy WebLinkAbout2024-01-26 BPMC Agenda and docsBRADLEY LAKE PROJECT MANAGEMENT COMMITTEE MEETING AGENDA - UPDATED
Friday, January 26, 2024
10:00 am
To participate dial 1-888-585-9008 and use code 212-753-619#
1. CALL TO ORDER
2. ROLL CALL (for Committee members)
3. PUBLIC ROLL CALL (for all others present)
4. AGENDA APPROVAL
5. PUBLIC COMMENTS
6. APPROVAL OF MEETING MINUTES – December 7, 2023 and December 8, 2023
7. NEW BUSINESS
A. HVDC Line being “required project work”
8. OLD BUSINESS
A. Railbelt Reliability Coordination Update
i. GRIP 3, Phase 1 Update Jim Mendenhall
ii. Railbelt Reliability Coordination update; Brian Hickey and GRIP 3, Phase 2, Concept Paper
9. OPERATORS REPORT HEA
10. COMMITTEE REPORTS
A. Budget to Actuals Report Budget Subcommittee
B. O&D Report
11. EXECUTIVE SESSION – (Bylaws Section 5.11.4) – To discuss confidential financial matters
regarding Required Project Work and financing, the immediate knowledge of which may have
an adverse effect on the Authority or Project.
12. MEMBERS COMMENTS
13. NEXT MEETING DATE – March 22, 2024
14. ADJOURNMENT
813 W Northern Lights Blvd, Anchorage, AK 99503 Phone: (907) 771-3000 Fax: (907) 771-3044 Email: info@akenergyauthority.org
REDUCING THE COST OF ENERGY IN ALASKA AKENERGYAUTHORITY.ORG
DATE: January 26, 2024
TO: Bradley Lake Project Management Committee
FROM: Curtis Thayer, Executive Director
RE: Resolution 24-01, Approval for Amendment to documents related to Series 2022
Bonds
RESOLUTION PURPOSE SUMMARY
Resolution 24-01 provides for confirmation and approval for amendment to the documents
related to the Series 2022 Bonds in order to amend and expand the definition of
Transmission Project (as defined in the Tenth Supplemental Resolution) to include use of the
Series 2022 Bond proceeds to fund the Underwater HVDC Transmission Line.
BACKGROUND
On September 30, 2022, the Bradley Lake Project Management Committee (the “BPMC”)
approved Resolution 22-08 determining the Project List constituted Required Project Work
pursuant to the Bradley Lake Hydroelectric Project Agreement for the Sale and Purchase of
Electric Power (the “Power Sales Agreement”).
The BPMC also supported and agreed to use the Excess Payments (as defined in the Power Sales
Agreement) for financing the issuance by the Alaska Energy Authority (the “Authority”) of its
Power Revenue Bonds, Eleventh Series (Bradley Lake Hydroelectric Project), in an aggregate
principal amount not to exceed $200,000,000 (the "Series 2022 Bonds") to provide funds to be
used for the purpose of (1) financing a portion of the costs of the Transmission Project, (2)
making a deposit to the Capital Reserve Fund, sufficient to satisfy the Capital Reserve Fund
Requirement and (3) paying costs of issuance of the Bond. The Bond of such Series shall be
designated and entitled “Power Revenue Bond, Eleventh Series (Bradley Lake Hydroelectric
Project). Subsequent to the issuance of the Series 2022 Bonds the Authority was awarded,
pursuant to letter dated October 3, 2023 and issued by the U.S. Department of Energy, to receive
a funding opportunity grant in the amount of $206,500,000 (the “GRIP Grant”), subject to
meeting certain additional requirements including providing for an equal amount of state match
funds (the “State Match”).
PROJECT DESCRIPTION GRIP GRANT
The proposal and application for the GRIP Grant was pursued following the issuance of the Series
2022 Bonds. The application for the GRIP Grant was all encompassing with respect to significant
project needs of the Bradley Lake Project and Alaska Railbelt electric needs. Thus, the application
encompassed a broader project description than the Transmission Project description used at the
time of the Series 2022 Bond issuance. The GRIP Grant project description is more expansive and
Alaska Energy Authority Page 2 of 2
per the acceptance letter “selection is conditioned upon your organization’s agreement to
propose, for DOE’s consideration, a project work scope that eliminates the 2 overhead AC
transmission lines and prioritizes (first) underwater HVDC and (second, if feasible) one or both
BESS at a federal funding amount of no greater than $206.5M. The non-federal cost share must
be at least 50% of the total project costs, consistent with the statutory requirement. The conditions
must be resolved to the satisfaction of the DOE” (See attached Department of Energy GRIP Grant
Letter). The first prioritized project underwater HVDC was not included within the project
description for use of the Series 2022 Bonds.
REVISED PROJECT DESCRIPTION SERIES 2022 BOND PURCHASER
The Series 2022 Bonds were purchased by a sole purchaser – National Cooperative Services
Corporation (the “Purchaser”). It was determined since the Series 2022 Bonds were purchased by
a single entity a request for amendments to the Series 2022 Bonds and related documents would
be beneficial to determine consistent use of the Series 2022 Bond proceeds related to the GRIP
Grant definition in order to expand the use of the Series 2022 Bond proceeds with GRIP Grant
funds. Use of the Series 2022 Bond proceeds for the HVDC line would require consent from the
Purchaser and corresponding revisions to the Tenth Supplemental Resolution, Loan Agreement
and Series 2022 Bonds. Pursuant to conversations with Fred Eeoff, Financial Advisor with respect
to the Series 2022 Bonds, expansion of the Transmission Project definition to include the
underwater HVDC line should be economically neutral to the Purchaser. Initial discussions with
the Purchaser have been positive and the expectation is a final answer by the end of January.
REQUIRED PROJECT WORK – REQUEST TO DEPARTMENT OF LAW
As with the Series 2022 Bonds project description, the GRIP Grant project description with respect
to the underwater HVDC line had not been previously considered by the Department of Law
regarding the required designation as Required Project Work. On December 21, 2023, a letter
was sent to Attorney General Taylor requesting confirmation the underwater HVDC line is
Required Project Work as defined in the Power Sales Agreement. On January 18, 2024, the
Attorney General provided an initial response confirming the underwater HVDC transmission line
was Required Project Work. It is anticipated a formal memorandum from the Department of Law
will also be received by the end of January.
4887-7478-4415\1
BRADLEY LAKE PROJECT MANAGEMENT COMMITTEE
RESOLUTION NO. 24 - 01
WHEREAS, on September 30, 2022, the Bradley Lake Project Management Committee (the
“BPMC”) approved Resolution 22-08 determining the Project List (attached hereto as Exhibit A)
constituted Required Project Work pursuant to the Bradley Lake Hydroelectric Project Agreement for
the Sale and Purchase of Electric Power (the “Power Sales Agreement”); and
WHEREAS, the BPMC also supported and agreed to use the Excess Payments (as defined in
the Power Sales Agreement) for financing the issuance by the Alaska Energy Authority (the “Authority”)
of the Authority’s Power Revenue Bonds, Eleventh Series (Bradley Lake Hydroelectric Project), in an
aggregate principal amount not to exceed $200,000,000 (the "Series 2022 Bonds") to provide funds to
be used for the purpose of (1) financing a portion of the costs of the Transmission Project, (2) making
a deposit to the Capital Reserve Fund, sufficient to satisfy the Capital Reserve Fund Requirement and
(3) paying costs of issuance of the Bond. The Bond of such Series shall be designated and entitled
“Power Revenue Bond, Eleventh Series (Bradley Lake Hydroelectric Project); and
WHEREAS, subsequent to the issuance of the Series 2022 Bonds the Authority was awarded
pursuant to letter dated October 3, 2023, and issued by the U.S. Department of Energy, a funding
opportunity grant in the amount of $206,500,000 (the “GRIP Grant”), subject to meeting certain
additional requirements including providing for an equal amount of state match funds (the “State
Match”); and
WHEREAS, portions of the Bradley Lake Hydroelectric Project to be funded by the proceeds of
the Series 2022 Bonds may also be funded pursuant to the GRIP Grant; and
WHEREAS, the GRIP Grant also provides for funding an HVDC submarine circuit (the
“Underwater HVDC Transmission Line”) crossing Cook Inlet from Nikiski in the Southern region to
Beluga in the Central region to maximize transfer capability between regions and minimize spinning
reserves, thereby reducing fuel usage, and reducing carbon emissions; and
WHEREAS, in order to fund the necessary State Match to receive the total funds awarded
pursuant to the GRIP Grant the Authority has also requested moneys be provided from the State of
Alaska pursuant to a request to the Governor, State of Alaska; and
WHEREAS, pursuant to a letter dated December 22, 2023, the Authority, as required pursuant to
the Power Sales Agreement and prior to the incurrence of debt must receive a determination from the
Alaska Department of Law the Underwater HVDC Transmission Line is Required Project Work; and
WHEREAS, the Authority is scheduling a special meeting to consider Resolution No. 2024-02
providing for amendment to the documents related to the Series 2022 Bonds in order to amend and
expand the definition of Transmission Project (as defined in the Tenth Supplemental Resolution) to include
use of the Series 2022 Bond proceeds to fund the Underwater HVDC Transmission Line; and
4887-7478-4415\1
WHEREAS, the BPMC desires to confirm and support the Authority to include the Underwater
HVDC Transmission Line provided for funding pursuant to the GRIP Grant, along with such other necessary
requests of the Purchaser to amend the bond documents accordingly; and
WHEREAS, the BPMC concurs the Bradley Lake Hydroelectric Project, Transmission Project,
Underwater HVDC Transmission Line and other approved projects of the Department of Energy shall
hereinafter collectively be referred to as the “Bradley Lake Hydroelectric and Transmission Project”.
NOW, THEREFORE, BE IT RESOLVED BY THE BRADLEY LAKE MANAGEMENT COMMITTEE, AS
FOLLOWS:
BE IT RESOLVED THAT the BMPC incorporates the above recitals into this resolution as if fully
set forth herein.
BE IT RESOLVED THAT the Underwater HVDC Transmission Line shall be included as a project
of the Bradley Lake Hydroelectric and Transmission Project.
BE IT RESOLVED THAT the Underwater HVDC Transmission Line shall be added to the Project
List previously adopted pursuant to Resolution 22-08 and, subject to final approval of the Alaska
Department of Law, confirms the Underwater HVDC Transmission Line is Required Project Work as
defined pursuant to the Power Sales Agreement.
BE IT RESOLVED THAT the BPMC confirms and continues to support and agree to use the
Excess Payments for financing of the Series 2022 Bonds.
BE IT RESOLVED THAT all prior resolutions of the BPMC or any parts thereof in conflict with
the foregoing resolutions are hereby repealed to the extent of such conflict.
DATED at Anchorage, Alaska, this 26th day of January, 2024.
BRADLEY LAKE PROJECT MANAGEMENT COMMITTEE
_________________________________
Chair
ATTEST:
____________________________________________
Secretary
4887-7478-4415\1
EXHIBIT A
REQUIRED PROJECT WORK
Project
BPMC Special Committee Projects
7/13/2022
Cost
($
million)
(estimate)
BPMC First Tranche "Required Project Work" 2022-2029
$ 66.0 New 230 kV (operated at 115 kV) Express Transmission Line - Bradley Project to Soldotna Sub
$ 70.0
115 kV & 230 kV Double-circuit Transmission Line - Soldotna Substation to Sterling
Substation and 230 kV Upgrade for Transmission Line between Sterling Substation and
Quartz Creek Substation6
(includes substations upgrades for 230 kV operation)
$ 115.0 Battery Energy Storage Systems for Grid Stabilization
$ 8.5
1- - =---- $ 10.0
SVC Upgrades (Soldotna and Dave's Creek)
I-"- . ꞏ - . . . -
Routing study of Alternative Path to Export Energy off the Kenai Peninsula
$ 269.5 (note: assumes that CEA completes 230 kV upgrades from Quartz Sub to University
Sub)
1
Bradley Lake Project Management Committee Report on Railbelt
Regional Coordination
Overview:
The Bradley Lake Project Management Committee is focused on two main objectives: expanding
the project's capacity from 90 MW to its full potential of 120 MW and ensuring the reliable and
resilient delivery of energy and capacity to all stakeholders. Moreover, the committee is
committed to addressing and eliminating large-scale, small-signal instability oscillations that
arise when the Bradley Project interacts with the summer valley during periods of low lake
levels. To achieve these objectives, a comprehensive regional transmission plan, named the Grid
Modernization and Resiliency Plan (GMRP), has been developed.
The implementation of GMRP is expected to yield several ancillary benefits, including a more
resilient and robust grid capable of withstanding extreme weather events and other disruptions.
The modernization efforts will enhance power transfer capabilities between regions, reduce the
need for thermal reserves, decrease fuel consumption, and cut carbon emissions. Additionally,
the upgraded grid will better accommodate variable clean energy sources.
This report outlines our activities related to these efforts over the months of December and
January
Contractors:
• Vision Foresight Strategies (Richard Lum) led two coordination meetings: one between
utilities on December 7th and another involving utilities and the AEA on January 5th.
Grant Applications:
• Efforts are underway to refine our GRIP Topic 3 Funding cycle 1 (GRIP T-3; F-1) project
scope to align with the DOE’s award selection criteria.
• We are exploring options for matching funds with the State.
• Our team is developing a spreadsheet model to assess the impact of various funding
application match strategies to meet the cost share requirements for the GRIP T-3; F-1
transmission line and 3 regional BESSs.
• We have developed talking points fo r both State and Federal levels, which have been
shared with our lobbying team.
• On January 24th, 2024, we updated federal delegation staff on our concept papers and
outlined our next steps.
Concept Papers:
• Topic 1, Grid Resilience: During the holidays, a draft was completed and finalized after a
consensus review by all utility and AEA policy and technical personnel. This paper was
submitted on January 10th by LSI and MEA on behalf of the project team.
2
• Topic 3, Grid Innovation: A draft was also completed over the holidays and finalized after
a consensus review. AEA made some last-minute budget adjustments, which the
committee will review in the coming weeks. This paper was submitted by AEA on
January 11th.
• A Joint Tactical/Regulatory team was formed to explore the adoption of the Texas single-
state solution (TSSS) as a model for transmission cost recovery in the Railbelt and to
develop foundational documents for a transmission system organization based on the
BPMC structure. Discussions and Scope development with Kirk Gibson on potential
involvement in this area have taken place.
Activity Summary:
• Coordination meetings achieved Railbelt regional alignment on status of a Transmission
System Organization (TSO) and Backbone wheeling cost allocation, Revised GRIP T-3; F-1
scope and proposed GRIP T-3; F-2 concept paper scope.
• I’ve revised the transmission wheeling and TSO documents to reflect current thinking
post-Iceland.
• Working with Vision Foresight Strategies, I have circulated developed and summaries
from the December 7th, 2024, meeting.
• I continued to support the Strike team’s efforts.
• The tactical team has been collaborating with General Counsel Joel Paisner and the
Budget and Finance Committee on the BESS agreements, recently reviewing the latest
draft lease agreement.
• I participated in the final review of ACEP's decarbonization pathways study.
• I participated in the scope development for AEA's Strategic Asset Planning modeling
effort.
• Engaged in discussions with Doug Tansy regarding potential collaboration with the
project team and IBEW/NECA AJEATT for local training and hiring provisions along the
GRIP transmission line route.
Looking Forward:
• Decisions on the Concept Pap ers for Topics 1 and 3 are expected by late February.
• If selected to move forward, applications for Topics 1 and 3 are due on April 17th.
• I am preparing for these applications and planning to attend the APA fly-in in Juneau
from January 30th to February 1st.
• I will be completing updates to both the three-page summary of the “Proposed Model
for Alaskan Railbelt Backbone Transmission System Reform” and the TSSS model
summary for the Joint Tactical regulatory team.
• Development of the 2024-5 budget for submission to AEA is underway.
3
Other Activities:
• I will be on leave from February 12th to 16th and from March 4th to 8th. I will also be
working remotely for much of February but will be available for meetings in Anchorage
or elsewhere with a day or two's notice. My regular meeting schedule will be maintained
during this period.
Bradley Lake Operator Report Page 1
Bradley Lake Operator Report
BPMC
January 26, 2024
Unit Statistics:
Generation Unit 1 (MWhrs)Unit 2 (MWhrs)Total (MWhrs)
Nov. 2023
Dec. 2023
Jan. 2024*
16,383
19,716
13,498
14,288
15,776
11,574
30,671
35,492
25,072
Hydraulics Avg. Lake Level (ft.)Bradley Fishwater
(ac ft.)
Battle Creek MIF
(ac ft.)
Nov. 2023
Dec. 2023
Jan. 2024*
1,162
1,155
1,147
1,729
2,265
1,835
8
0
0
0
Battle Creek Inflows to Bradley
(ac ft.)
Nov. 2023
Dec. 2023
Jan. 2024*
0
0
0
*Lake Level – 1,159.9’ As of Jan. 23, 2024
Activities
Dam – Completed the monthly safety inspections for December.
Dam Access Road –The road up to the dam is accessible by snow machine.
Battle Creek Diversion – Nothing new to report.
Bradley Lake New Residence – Electrical contractor has completed the rough in
phase. Phase 2 of the plumbing and fire system installation will start on 9
February. Drywall contractor will start on 19 February. The flooring contractor
will start on the 6 March. Cabinets and trim will start on the 14 March.
Needle Valve Purchase – On Schedule. for delivery by Aug 2024.
40 Ton Crane – Parts have begun to arrive on site. Scheduled to complete the
work in March.
Fire System- The contractor we are working with has had a change in
personnel. They have assigned a new engineer to finish the project. We are
revising the first draft of the request for bid.
Safety- There have been no lost time or reportable accidents for the month of
Dec 2023 and as of this date in January 2024. Safety meeting was conducted
on 13 Dec. 2023, and 10 Jan. 2024. Next safety meeting is scheduled for 14
Feb. 2023. Avalanche safety and rescue training course will be conducted on
site on 28 February 2024.
Bradley Lake Operator Report Page 2
New Equipment- The loader mounted boom mower est. delivery is April 2024.
The replacement vehicle (F150 Pickup) is on ordered.
Barge trip – Barge is scheduled for 10 Feb. 2024 to deliver the new forklift,
Connex’s and building materials for the new residence.
Forced outage –None to report.
Scheduled Outage – Spring outage schedule is 2-15 March 2024.
Contractors/ Visitors on site:
o HEA- Larry Jorgensen out for the Safety Meeting on 13 Dec.2023, and 10
Jan. 2024.
o Country Electric out to complete the rough inn electrical wiring for the new
residence.
o HEA-IT Jason Kirby out to repair the corporate Wi-Fi.
o HEA- Larry Jorgensen, Bonnie Rakes, (HEA Board) Dan Furlong, Wayne Ogle,
and Dan Green out to tour the project.
Bradley Lake Dam and Spillway
Bradley Lake Operator Report Page 3
Battle Creek Diversion
Servicing the Microwave Hut Coyote hanging out by the Airport
Alaska Energy Authority
Bradley Lake
Budget to Actual Expenses
07/01/2023 to 12/31/2023
Page 1 of 13
FY22 FY22 FY23 FY23 FY24 FY24
BUDGET ACTUALS BUDGET ACTUALS BUDGET ACTUALS
Upgrade Crews Quarters and Residents Kitchen 139,000 7,318 159,000 67,395 - -
Battle Creek Bridge Repair 80,000 112,337 - - - -
IRIS Air Gap Monitoring System (computer) 45,000 86,805 65,000 18,491 - -
Replace Dump Truck and Sander 20,000 - - 29,493 - -
Heavy Duty trailer for equipment 20,000 - 20,000 20,000 - -
ABB Replace GIS Actuators 240,000 - 309,000 310,245 - -
Replacement pickup truck 45,000 - - 46,299 - -
Needle Valve rebuild 150,000 29,727 150,000 - - -
Start new servo design 100,000 - 250,000 396,171 - -
Soldotna SVC Battery Replacement 70,000 76 - - - -
North Fork Improvements - - 5,000 - - -
Mini Excavator - - 100,000 94,465 - -
Install New Bradley Microwave System - - 500,000 280,356 518,000 226
Brush Hog for Front End Loader - - - - 150,000 -
JLG All Terrain Fork Lift- New Purchase - - - - 190,000 207,660
Replace BL#5 2009 F150 Crew Cab Pickup - - - - 45,000 -
Warhouse Heaters x2 (Replace) - - - - 5,000 -
ISO Shipping Containers x2 (Replace) - -
- - 40,000 17,700
Total Non R&C Capital Purchases 909,000 236,264 1,558,000 1,262,914 948,000 225,586
BRADLEY LAKE
CAPITAL PURCHASES NOT FUNDED BY R&C FUND
ALASKA ENERGY AUTHORITY
BRADLEY LAKE HYDROELECTRIC PROJECT
Schedule A
Expenses for the period 07/01/23 to 12/31/23
Page 2 of 13
ALASKA ENERGY AUTHORITY
BRADLEY LAKE OPERATIONS & MAINTENANCE
SCHEDULE B
BUDGET TO ACTUAL EXPENSES
FOR THE PERIOD 07/01/2023 THROUGH 12/31/2023
FY 24 FY 23
FY24 Approved
Budget
BUDGET %
07/01/2023 -
12/31/2023 HEA Actual CEA Actual AEA Actual Total Actual
(Over) Under
Budget to Date
FY23 Approved
Budget FY23 Actual
Summary by expense type
Staff Professional Services (Direct) 387,700 193,850 - - 124,386 124,386 69,464 277,000 289,268
Labor & Benefits 2,023,067 1,011,534 404,882 10,986 262,280 678,148 333,386 1,997,876 1,801,438
Travel 78,500 39,250 884 - 13,431 14,315 24,935 84,950 12,894
Training 50,000 25,000 6,018 - - 6,018 18,983 49,300 19,549
Contractual 1,181,381 590,691 185,860 - 129,283 315,143 275,547 1,215,727 1,068,101
Consulting-Administrative 265,000 132,500 - - 44,280 44,280 88,220 249,375 248,684
Supplies & Materials 330,332 165,166 53,759 11,555 - 65,313 99,853 329,232 133,087
Other Costs 79,318 39,659 14,278 11,766 - 26,044 13,615 79,318 64,623
Equipment, Furniture & Machinery 165,000 82,500 29,424 - - 29,424 53,076 24,000 7,877
Administrative Costs 1,553,800 776,900 15,320 - 686,331 701,651 75,249 1,492,905 1,549,774
Indirect Costs 1,480,105 740,053 526,724 - - 526,724 213,329 1,486,285 1,364,672
O&M 4% Allocation to Battle Creek (303,768) (151,884) - - - - (151,884) (236,473) -
Total Bradley Lake Budget 7,290,435 3,645,218 1,237,148 34,307 1,259,991 2,531,446 1,113,772 7,049,495 6,559,966
FERC 535 - Operation Supervision & Engineering
Operations Sup/Eng
Bradley Lake Operating
Labor & Benefits 105,451 52,726 45,877 - - 45,877 6,848 108,311 112,787
Travel 5,000 2,500 884 - - 884 1,616 10,450 590
Training 5,000 2,500 581 - - 581 1,919 9,300 -
Contractual 3,000 1,500 - - - - 1,500 1,000 -
Supplies & Materials 4,000 2,000 - - - - 2,000 4,000 314
Indirect Costs 155,698 77,849 63,327 - - 63,327 14,522 155,698 150,349
Bradley Lake Operating Total 278,149 139,075 110,669 - - 110,669 28,405 288,759 264,040
FERC 535 - Operation Supervision & Engineering Total 278,149 139,075 110,669 - - 110,669 28,405 288,759 264,040
FERC 537 - Hydraulic Expenses
Hydraulic Expenses
Bradley Lake Operating
Labor & Benefits 95,262 47,631 27,893 - - 27,893 19,738 90,192 75,953
Contractual 60,000 30,000 - - - - 30,000 123,000 87
Supplies & Materials 2,000 1,000 774 - - 774 226 32,000 1,804
Indirect Costs 109,250 54,625 39,490 - - 39,490 15,135 114,320 105,908
Bradley Lake Operating Total 266,512 133,256 68,158 - - 68,158 65,098 359,512 183,752
FERC 537 - Hydraulic Expenses Total 266,512 133,256 68,158 - - 68,158 65,098 359,512 183,752
FERC 538 - Electric Expenses
Electric Expenses
Bradley Lake Operating
Labor & Benefits 218,044 109,022 84,593 - - 84,593 24,429 218,044 228,803
Travel 7,000 3,500 - - - - 3,500 7,000 2,039
Training 30,000 15,000 5,437 - - 5,437 9,563 25,000 17,786
Contractual 5,000 2,500 - - - - 2,500 2,000 -
Supplies & Materials 13,732 6,866 6,660 - - 6,660 206 9,732 4,319
Indirect Costs 262,004 131,002 98,310 - - 98,310 32,692 262,004 256,573
Bradley Lake Operating Total 535,780 267,890 194,999 - - 194,999 72,891 523,780 509,520
FERC 538 - Electric Expenses Total 535,780 267,890 194,999 - - 194,999 72,891 523,780 509,520
FERC 539 - Misc. Hydraulic Power Generation Expenses
Misc Hydro Power Exp
Bradley Lake Operating
Labor & Benefits 105,742 52,871 32,114 - - 32,114 20,757 105,742 90,508
Training 15,000 7,500 - - - - 7,500 15,000 1,009
Contractual 360,067 180,034 154,188 - - 154,188 25,845 315,867 229,130
Supplies & Materials 25,000 12,500 3,205 - - 3,205 9,295 17,900 20,976
Indirect Costs 114,320 57,160 45,594 - - 45,594 11,566 114,320 120,737
Bradley Lake Operating Total 620,129 310,065 235,101 - - 235,101 74,963 568,829 462,360
BRADLEY CIRCUITS/RADIO TO BERNICE LK
Other Costs 35,695 17,848 14,278 - - 14,278 3,569 35,695 34,149
BRADLEY CIRCUITS/RADIO TO BERNICE LK Total 35,695 17,848 14,278 - - 14,278 3,569 35,695 34,149
BRADLEY CIRCUITS BERNICE LK TO ANCH
Other Costs 29,773 14,887 - 11,766 - 11,766 3,120 29,773 28,471
BRADLEY CIRCUITS BERNICE LK TO ANCH Total 29,773 14,887 - 11,766 - 11,766 3,120 29,773 28,471
FERC 539 - Misc. Hydraulic Power Generation Expenses Total 685,597 342,799 249,380 11,766 - 261,146 81,653 634,297 524,980
FERC 541 - Maintenance Supervision & Engineering
Maint Supervision/Eng
Bradley Lake Operating
Labor & Benefits 110,451 55,226 44,942 - - 44,942 10,283 116,171 113,497
Indirect Costs 155,698 77,849 64,262 - - 64,262 13,587 155,698 150,349
Bradley Lake Operating Total 266,149 133,075 109,204 - - 109,204 23,870 271,869 263,847
FERC 541 - Maintenance Supervision & Engineering Total 266,149 133,075 109,204 - - 109,204 23,870 271,869 263,847
FERC 542 - Maintenance of Structures
Maintenance of Structures
Bradley Lake Operating
Labor & Benefits 89,710 44,855 27,108 - - 27,108 17,747 86,639 69,437
Contractual 56,000 28,000 1,322 - - 1,322 26,678 56,000 59,713
Supplies & Materials 78,000 39,000 6,828 - - 6,828 32,172 94,000 9,592
Equipment, Furniture & Machinery 15,000 7,500 3,422 - - 3,422 4,078 19,000 6,693
Indirect Costs 102,350 51,175 37,536 - - 37,536 13,639 105,421 96,693
Bradley Lake Operating Total 341,060 170,530 76,215 - - 76,215 94,315 361,060 242,128
FERC 542 - Maintenance of Structures Total 341,060 170,530 76,215 - - 76,215 94,315 361,060 242,128
FERC 543 - Maintenance of Reservoirs, Dams & Waterways
Maint Res, Dams, WWays
Bradley Lake Operating
Labor & Benefits 51,783 25,892 670 - - 670 25,221 53,744 1,507
Travel - - - - - - - 1,000 -
Contractual 6,500 3,250 - - - - 3,250 22,500 5,114
Supplies & Materials 20,000 10,000 - - - - 10,000 20,000 -
Page 3 of 13
ALASKA ENERGY AUTHORITY
BRADLEY LAKE OPERATIONS & MAINTENANCE
SCHEDULE B
BUDGET TO ACTUAL EXPENSES
FOR THE PERIOD 07/01/2023 THROUGH 12/31/2023
FY 24 FY 23
FY24 Approved
Budget
BUDGET %
07/01/2023 -
12/31/2023 HEA Actual CEA Actual AEA Actual Total Actual
(Over) Under
Budget to Date
FY23 Approved
Budget FY23 Actual
Indirect Costs 58,650 29,325 919 - - 919 28,406 56,689 1,511
Bradley Lake Operating Total 136,933 68,467 1,589 - - 1,589 66,877 153,933 8,132
BRADLEY POWER TUNNEL MAINT (Dam)
Contractual 15,000 7,500 - - - - 7,500 - -
BRADLEY POWER TUNNEL MAINT (Dam) Total 15,000 7,500 - - - - 7,500 - -
FERC 543 - Maintenance of Reservoirs, Dams & Waterways Total 151,933 75,967 1,589 - - 1,589 74,377 153,933 8,132
FERC 544 - Maintenance of Electric Plant
Maintenance of Elec Plant
Bradley Lake Operating
Labor & Benefits 309,110 154,555 98,944 - - 98,944 55,611 309,110 276,280
Travel 4,500 2,250 - - - - 2,250 4,500 -
Contractual 40,000 20,000 5,249 - - 5,249 14,751 58,000 3,180
Supplies & Materials 40,000 20,000 22,658 - - 22,658 (2,658) 43,000 28,310
Indirect Costs 423,178 211,589 141,769 - - 141,769 69,820 423,178 384,985
Bradley Lake Operating Total 816,788 408,394 268,620 - - 268,620 139,774 837,788 692,754
FERC 544 - Maintenance of Electric Plant Total 816,788 408,394 268,620 - - 268,620 139,774 837,788 692,754
FERC 545 - Maintenance of Misc. Hydraulic Plant
Maint of Misc Hydr Plant
Bradley Lake Operating
Labor & Benefits 69,297 34,649 24,888 - - 24,888 9,760 69,297 70,628
Contractual 45,000 22,500 7,617 - - 7,617 14,883 3,900 7,276
Supplies & Materials 68,000 34,000 13,634 - - 13,634 20,366 29,000 41,166
Equipment, Furniture & Machinery 150,000 75,000 26,002 - - 26,002 48,998 5,000 1,184
Indirect Costs 98,957 49,479 35,516 - - 35,516 13,962 98,957 97,565
Bradley Lake Operating Total 431,254 215,627 107,657 - - 107,657 107,970 206,154 217,819
FERC 545 - Maintenance of Misc. Hydraulic Plant Total 431,254 215,627 107,657 - - 107,657 107,970 206,154 217,819
FERC 556 - System Control & Load Dispatching
System Cntl & Load Disp
Bradley Lake Operating
Labor & Benefits 20,174 10,087 5,640 - - 5,640 4,447 20,174 22,342
Contractual 85,500 42,750 850 - - 850 41,900 85,500 97,154
Supplies & Materials 12,000 6,000 - - - - 6,000 12,000 4,242
Bradley Lake Operating Total 117,674 58,837 6,490 - - 6,490 52,347 117,674 123,738
Snow Measurement
Bradley Lake Operating
Contractual 10,000 5,000 - - 9,600 9,600 (4,600) 10,000 9,600
Bradley Lake Operating Total 10,000 5,000 - - 9,600 9,600 (4,600) 10,000 9,600
Seismic Service
Bradley Lake Operating
Contractual 62,000 31,000 - - 18,403 18,403 12,597 62,000 63,456
Bradley Lake Operating Total 62,000 31,000 - - 18,403 18,403 12,597 62,000 63,456
Streamguaging Serv
Bradley Lake Operating
Contractual 278,014 139,007 - - 101,280 101,280 37,727 218,000 191,173
Bradley Lake Operating Total 278,014 139,007 - - 101,280 101,280 37,727 218,000 191,173
Permits
Bradley Lake Operating
Other Costs 350 175 - - - - 175 350 240
Bradley Lake Operating Total 350 175 - - - - 175 350 240
FERC 556 - System Control & Load Dispatching Total 468,038 234,019 6,490 - 129,283 135,773 98,246 408,024 388,208
FERC 562 - Station Expenses
Station Expenses
Bradley Lake Operating
Labor & Benefits 102,043 51,022 12,212 10,986 - 23,198 27,824 98,418 58,186
Travel 3,500 1,750 - - 336 336 1,414 3,500 -
Contractual 80,300 40,150 16,635 - - 16,635 23,515 87,960 63,979
Supplies & Materials 19,600 9,800 - 11,555 - 11,555 (1,755) 44,600 9,918
Other Costs 1,500 750 - - - - 750 1,500 -
Bradley Lake Operating Total 206,943 103,472 28,846 22,541 336 51,723 51,748 235,978 132,082
FERC 562 - Station Expenses Total 206,943 103,472 28,846 22,541 336 51,723 51,748 235,978 132,082
FERC 571 - Maintenance of Overhead Lines
Maint of OH Lines
Bradley Lake Operating
Labor & Benefits 16,000 8,000 - - - - 8,000 39,954 39,373
Contractual 75,000 37,500 - - - - 37,500 150,000 171,636
Supplies & Materials 30,000 15,000 - - - - 15,000 5,000 1,108
Bradley Lake Operating Total 121,000 60,500 - - - - 60,500 194,954 212,117
FERC 571 - Maintenance of Overhead Lines Total 121,000 60,500 - - - - 60,500 194,954 212,117
FERC 920 & 930 - Administrative Expense
AEA Bradley Fixed Admin Fees
Bradley Lake Operating
Staff Professional Services (Direct) 387,700 193,850 - - 124,386 124,386 69,464 277,000 270,305
Travel - - - - 13,095 13,095 (13,095) - 3,888
Training - - - - - - - - 754
Consulting-Administrative - - - - - - - - 2,390
Supplies & Materials - - - - - - - - 4,246
Administrative Costs 2,500 1,250 - - 578 578 672 2,500 166,004
Bradley Lake Operating Total 390,200 195,100 - - 138,059 138,059 57,041 279,500 447,588
Bradley Lake Bond Financing
Staff Professional Services (Direct) - - - - - - - - 18,962
Bradley Lake Bond Financing Total - - - - - - - - 18,962
BRADLEY HEA BESS Preliminary Study
BRADLEY HEA BESS Preliminary Study Total - - - - - - - - -
General & Administrative Costs
Supplies & Materials - - - - - - - - 154
Page 4 of 13
ALASKA ENERGY AUTHORITY
BRADLEY LAKE OPERATIONS & MAINTENANCE
SCHEDULE B
BUDGET TO ACTUAL EXPENSES
FOR THE PERIOD 07/01/2023 THROUGH 12/31/2023
FY 24 FY 23
FY24 Approved
Budget
BUDGET %
07/01/2023 -
12/31/2023 HEA Actual CEA Actual AEA Actual Total Actual
(Over) Under
Budget to Date
FY23 Approved
Budget FY23 Actual
Administrative Costs - - - - - - - - (350)
General & Administrative Costs Total - - - - - - - - (196)
Operating Committee Exp-Audit
Bradley Lake Operating
Administrative Costs 22,000 11,000 - - 35,030 35,030 (24,030) 19,900 32,520
Bradley Lake Operating Total 22,000 11,000 - - 35,030 35,030 (24,030) 19,900 32,520
Operating Committee Exp-Legal
Bradley Lake Operating
Administrative Costs 80,000 40,000 - - 46,628 46,628 (6,628) 70,000 153,966
Bradley Lake Operating Total 80,000 40,000 - - 46,628 46,628 (6,628) 70,000 153,966
Operat Committee Exp-Arbitrage
Bradley Lake Operating
Administrative Costs - - - - - - - 5,000 -
Bradley Lake Operating Total - - - - - - - 5,000 -
Trust & Account Fees
Bradley Lake Operating
Administrative Costs 13,000 6,500 - - - - 6,500 13,000 -
Bradley Lake Operating Total 13,000 6,500 - - - - 6,500 13,000 -
Misc Admin
Bradley Lake Operating
Administrative Costs 13,000 6,500 - - 13,663 13,663 (7,163) 12,000 13,604
Bradley Lake Operating Total 13,000 6,500 - - 13,663 13,663 (7,163) 12,000 13,604
Professional Consultants
Bradley Lake Operating
Labor & Benefits 730,000 365,000 - - 262,280 262,280 102,720 682,080 642,139
Travel 58,500 29,250 - - - - 29,250 58,500 6,376
Contractual - - - - - - - 20,000 166,602
Consulting-Administrative - - - - - - - - 4,458
Supplies & Materials 18,000 9,000 - - - - 9,000 18,000 6,940
Other Costs 12,000 6,000 - - - - 6,000 12,000 1,762
Bradley Lake Operating Total 818,500 409,250 - - 262,280 262,280 146,970 790,580 828,277
FERC 920 & 930 - Administrative Expense Total 1,336,700 668,350 - - 495,661 495,661 172,689 1,189,980 1,494,722
FERC 924 & 925 - Insurance Premiums
Insurance Premiums
Bradley Lake Operating
Administrative Costs 1,138,300 569,150 15,320 - 538,712 554,032 15,118 1,015,505 974,625
Bradley Lake Operating Total 1,138,300 569,150 15,320 - 538,712 554,032 15,118 1,015,505 974,625
FERC 924 & 925 - Insurance Premiums Total 1,138,300 569,150 15,320 - 538,712 554,032 15,118 1,015,505 974,625
FERC 923 - Outside Services Employed
Outside Services Employed
Bradley Lake Operating
Consulting-Administrative 265,000 132,500 - - 44,280 44,280 88,220 249,375 241,836
Bradley Lake Operating Total 265,000 132,500 - - 44,280 44,280 88,220 249,375 241,836
FERC 923 - Outside Services Employed Total 265,000 132,500 - - 44,280 44,280 88,220 249,375 241,836
FERC 928 - Regulatory Commission Expenses
FERC Admin Fees
Bradley Lake Operating
Administrative Costs 165,000 82,500 - - - - 82,500 150,000 126,085
Bradley Lake Operating Total 165,000 82,500 - - - - 82,500 150,000 126,085
FERC Related Prof Services
BRADLEY FERC PART 12 INSPECTION
Administrative Costs - - - - - - - 25,000 435
BRADLEY FERC PART 12 INSPECTION Total - - - - - - - 25,000 435
BRADLEY CONTRACTUAL ENGINEER-FERC LICENSE ISSUES
Administrative Costs 120,000 60,000 - - 51,719 51,719 8,281 180,000 82,883
BRADLEY CONTRACTUAL ENGINEER-FERC LICENSE ISSUES Total 120,000 60,000 - - 51,719 51,719 8,281 180,000 82,883
FERC 928 - Regulatory Commission Expenses Total 285,000 142,500 - - 51,719 51,719 90,781 355,000 209,404
O&M 4% Allocation to Battle Creek (303,768) (151,884) - - - - (151,884) (236,473) -
Total Bradley Lake Budget 7,290,435 3,645,218 1,237,148 34,307 1,259,991 2,531,446 1,113,772 7,049,495 6,559,966
Page 5 of 13
Actual Projected Actual Projected Actual Projected
@ 6/30/22 TO REPAY Budget @ 6/30/23 TO REPAY Budget @ 6/30/24 TO REPAY Budget
Description Expense @6/30/22 FY22 Expense @6/30/23 FY23 Expense @6/30/24 FY24
R&C FUND PROJECTS
Governor - 4,052,070 - - 4,052,070 - - 4,052,070 -
Replace RFLS - 251,093 - - 251,093 - - 251,093 -
Replace Runners - 1,946,733 - - 1,946,733 - - 1,946,733 -
Replace cable from dam to power house - 2,321,923 - - 2,321,923 - - 2,321,923 -
Replace power system stabilizer - 619,205 - - 619,205 - - 619,205 -
Replace two RTUs - 86,905 - - 86,905 - - 86,905 -
Culvert Repairs - 675,967 - - 675,967 - - 675,967 -
Tower Repair for Jack Frost Heaves - 887,597 - - 887,597 - - 887,597 -
Replace Plant and SCADA Controls - 1,344,683 - - 1,344,683 - - 1,344,683 -
Vibration Monitoring System - 490 - - 490 - - 490 -
Fire Alarm System Replacement 28,593 134,225 150,000 3,173 137,397 1,500,000 26,711 164,108 1,338,000
Battle Creek Diversion - 1,170,000 - - 1,170,000 - - 1,170,000 -
Bradley Replace Electro-Mechanical Relays - 1,277,197 - - 1,277,197 - - 1,277,197 -
Fishwater Screen Debris Removal - 312,236 - - 312,236 - - 312,236 -
Turbine Nozzel Repair - 1,428,861 - - 1,428,861 - - 1,428,861 -
SVC replacement Daves Creek | Soldotna - 8,517,991 - - 8,517,991 - - 8,517,991 -
Equipment Storage Shed - 510,550 - - 510,550 - - 510,550 -
Emerson Operating System Upgrade - 622,665 - - 622,665 - - 622,665 -
Generator #2 Replacement - 953,213 - - 953,213 - - 953,213 -
Road Grader 342,330 342,330 - - 342,330 - - 342,330 -
Battle Creek Construction - 3,739,591 - - 3,739,591 - - 3,739,591 -
Battle Creek Cash Call-Expended - 750,000 - - 750,000 - - 750,000 -
Battle Creek Cash Call-Paid by Utilities - (750,000) - - (750,000) - - (750,000) -
Needle Repairs - 1,482,791 - - 1,482,791 - - 1,482,791 -
Construct Additional Residence 69,594 69,594 980,000 125,175 194,769 - 513,199 707,967 910,000
Spillway Raise & Expansion Project (aka Dixon Diversion)**547,699 547,699 800,000 661,031 1,208,731 1,500,000 111,134 1,319,865 252,000
Needle Valve Rebuild - - - - - - - - 1,579,535
988,217 33,295,609 1,930,000 789,379 34,084,987 3,000,000 651,043 34,736,031 4,079,535
Current Year R&C Repayment (2,435,902) (2,757,013) (3,338,646)
Adjust balance to $5 million - - -
Interest in Fund Applied to Repayment (42,921) (100,912) (122,003)
Net Transfer from Revenue Fund (2,478,823) (2,857,925) (3,460,649)
Cumulative Prior Years R&C Repayments (27,707,352) (29,808,017) (31,677,137)
Due to (from) Utilities 378,159 988,805 1,531,781
Adjust Due to R&C Actual - - -
(27,329,193) (28,819,211) (30,145,356)
NET DUE TO R&C FUND 3,487,592 2,407,851 1,130,026
R&C FUND CASH FLOW PROJECTION
Beginning Investment Balance 1,069,523 2,363,808 4,370,333
Disbursements-current year -Accrual (514,976) - -
Disbursements-prior year accrued (379,977) (473,241) (789,379)
Utilities' R&C Refund (289,586) (378,159) (988,805)
Net other cash inflow(outflow) - - -
Current year interest earnings 42,921 100,912 122,003
Participants Contributions to R&C Fund 2,435,902 2,757,013 3,338,646
Ending Investment Balance 2,363,808 4,370,333 6,052,798
Accrued Due to (from) Utilities (378,159) (988,805) (1,531,781)
R&C payable back to the revenue fund - - -
Accrued R&C vendor Payable at Year End (473,241) (789,379) (651,043)
PROJECTED NET DUE + ENDING INVESTMENT BALANCE 5,000,000 5,000,000 5,000,000
REPAYMENT AMOUNT
$1,649,677 X 25%
$4,139,810 X 25% **Spillway Raise & Expansion Project (aka Dixon Diversion)
$238,606.15 X 25%
$954,181.79 x 25% Paid with Bradley Lake R&C Fund 1,319,865
$756,665.11 x 25% all 4 years Paid with Renewable Energy Fund Grant ($1MM) 469,180
$1,455,830.05 x 25% all 4 years Total Project Cost at 12/31/23 1,789,045
$1,401,948.53 x 25% all 4 years
$1,834,499.92 x 25% yr 1 | 25% yr 2 | 50% yr 3
$3,330,802.80 x 25% yr 1 | 32% yr 2 | 25% yr 3 |18% yr4
$5,644,193.08 x 25% all 4 years
$1,341,405.96 x 25% all 4 years (FY18)
$1,715,556.80 x 25% all 4 years (FY19) 4th 428,889
$412,050.13 x 25% all 4 years (FY20) 3rd 103,013 4th 103,013
$5,286,834.31 x 25% all 4 years (FY21) 2nd 1,321,709 3rd 1,321,709 4th 1,321,709
FY22 ACTUALS 1st 247,054 2nd 247,054 3rd 247,054
1st 197,345 2nd 197,345
1st 162,761
2,100,664 1,869,120 1,928,868
BRADLEY LAKE
R&C FUND DISBURSEMENTS AND REPAYMENTS
SCHEDULE D
Expenses for the period 07/01/23 to 12/31/23
Page 6 of 13
FY22 FY22 FY23 FY23 FY24 FY24
Budget Actual Budget Actual Budget Actual
Battle Creek Diversion - - - - - -
Battle Creek Associated Costs 15,000 22,196 15,000 11,986 15,000 -
Vent Enlargment 50,000 13,077 50,000 32,407 - -
Pressure Sensor w SCADA 25,000 2,807 25,000 27,030 - -
Power feed to LBC Bridge 25,000 19,548 - - - -
Survey and Monument DNR Lease - - - - 150,000 41,279
Total Non R&C Capital Purchases 115,000 57,628 90,000 71,423 165,000 41,279
BATTLE CREEK
CAPITAL PURCHASES NOT FUNDED BY R&C FUND
ALASKA ENERGY AUTHORITY
BRADLEY LAKE HYDROELECTRIC PROJECT
Battle Creek Capital Purchases
Schedule E
Expenses for the period 07/01/23 to 12/31/23
Page 7 of 13
BATTLE CREEK OPERATIONS & MAINTENANCE
SCHEDULE F
BUDGET TO ACTUAL EXPENSES
FOR THE PERIOD 07/01/2023 THROUGH 12/31/2023
FY 24 FY 23
FY24 Approved
Budget
BUDGET %
07/01/2023 -
12/31/2023 HEA Actual CEA Actual AEA Actual Total Actual
(Over) Under
Budget to Date
FY23 Approved
Budget FY23 Actual
Summary by expense type
Staff Professional Services (Direct) 50,000 25,000 - - 32,557 32,557 (7,557) - 58,017
Labor & Benefits - - 16,870 458 10,928 28,256 (28,256) - 82,339
Travel - - 37 - 991 1,027 (1,027) - 537
Training - - 251 - - 251 (251) - 940
Contractual 125,000 62,500 7,744 - 84,803 92,547 (30,047) 126,000 164,132
Consulting-Administrative - - - - 1,845 1,845 (1,845) - 17,560
Supplies & Materials - - 2,240 481 - 2,721 (2,721) - 5,862
Other Costs - - 595 490 - 1,085 (1,085) - 2,920
Equipment, Furniture & Machinery - - 1,226 - - 1,226 (1,226) - 346
Administrative Costs 11,500 5,750 638 - 28,611 29,249 (23,499) 54,900 78,084
Indirect Costs - - 21,947 - - 21,947 (21,947) - 62,821
O&M 4% Allocation to Battle Creek 303,768 151,884 - - - - 151,884 236,473 -
Total Battle Creek Budget 490,268 245,134 51,548 1,429 159,735 212,712 32,422 417,373 473,557
FERC 535 - Operation Supervision & Engineering
Operations Sup/Eng
Battle Creek Operating
Labor & Benefits - - 1,912 - - 1,912 (1,912) - 5,090
Travel - - 37 - - 37 (37) - 25
Training - - 24 - - 24 (24) - -
Supplies & Materials - - - - - - - - 13
Indirect Costs - - 2,639 - - 2,639 (2,639) - 6,803
Battle Creek Operating Total - - 4,611 - - 4,611 (4,611) - 11,931
FERC 535 - Operation Supervision & Engineering Total - - 4,611 - - 4,611 (4,611) - 11,931
FERC 537 - Hydraulic Expenses
Hydraulic Expenses
Battle Creek Operating
Labor & Benefits - - 1,162 - - 1,162 (1,162) - 3,557
Contractual 70,000 35,000 - - 52,616 52,616 (17,616) 81,000 65,278
Supplies & Materials - - 32 - - 32 (32) - 75
Indirect Costs - - 1,645 - - 1,645 (1,645) - 4,911
Battle Creek Operating Total 70,000 35,000 2,840 - 52,616 55,456 (20,456) 81,000 73,821
FERC 537 - Hydraulic Expenses Total 70,000 35,000 2,840 - 52,616 55,456 (20,456) 81,000 73,821
FERC 538 - Electric Expenses
Electric Expenses
Battle Creek Operating
Labor & Benefits - - 3,525 - - 3,525 (3,525) - 10,507
Travel - - - - - - - - 85
Training - - 227 - - 227 (227) - 867
Supplies & Materials - - 277 - - 277 (277) - 184
Indirect Costs - - 4,096 - - 4,096 (4,096) - 11,814
Battle Creek Operating Total - - 8,125 - - 8,125 (8,125) - 23,457
FERC 538 - Electric Expenses Total - - 8,125 - - 8,125 (8,125) - 23,457
FERC 539 - Misc. Hydraulic Power Generation Expenses
Misc Hydro Power Exp
Battle Creek Operating
Labor & Benefits - - 1,338 - - 1,338 (1,338) - 4,197
Training - - - - - - - - 42
Contractual - - 6,425 - - 6,425 (6,425) - 10,529
Supplies & Materials - - 134 - - 134 (134) - 918
Other Costs - - 595 490 - 1,085 (1,085) - 2,836
Indirect Costs - - 1,900 - - 1,900 (1,900) - 5,578
Battle Creek Operating Total - - 10,391 490 - 10,881 (10,881) - 24,101
FERC 539 - Misc. Hydraulic Power Generation Expenses Total - - 10,391 490 - 10,881 (10,881) - 24,101
FERC 541 - Maintenance Supervision & Engineering
Maint Supervision/Eng
Battle Creek Operating
Labor & Benefits - - 1,873 - - 1,873 (1,873) - 5,120
Indirect Costs - - 2,678 - - 2,678 (2,678) - 6,803
Battle Creek Operating Total - - 4,550 - - 4,550 (4,550) - 11,923
FERC 541 - Maintenance Supervision & Engineering Total - - 4,550 - - 4,550 (4,550) - 11,923
FERC 542 - Maintenance of Structures
Maintenance of Structures
Battle Creek Operating
Labor & Benefits - - 1,130 - - 1,130 (1,130) - 3,242
Contractual - - 55 - - 55 (55) - 2,488
Supplies & Materials - - 284 - - 284 (284) - 470
Equipment, Furniture & Machinery - - 143 - - 143 (143) - 296
Indirect Costs - - 1,564 - - 1,564 (1,564) - 4,474
Battle Creek Operating Total - - 3,176 - - 3,176 (3,176) - 10,970
FERC 542 - Maintenance of Structures Total - - 3,176 - - 3,176 (3,176) - 10,970
FERC 543 - Maintenance of Reservoirs, Dams & Waterways
Maint Res, Dams, WWays
Battle Creek Operating
Labor & Benefits - - 28 - - 28 (28) - 73
Contractual - - - - - - - - 213
Indirect Costs - - 38 - - 38 (38) - 79
Battle Creek Operating Total - - 66 - - 66 (66) - 366
FERC 543 - Maintenance of Reservoirs, Dams & Waterways Total - - 66 - - 66 (66) - 366
FERC 544 - Maintenance of Electric Plant
Maintenance of Elec Plant
Battle Creek Operating
Labor & Benefits - - 4,123 - - 4,123 (4,123) - 12,941
Contractual - - 219 - - 219 (219) - 132
Supplies & Materials - - 944 - - 944 (944) - 1,248
Indirect Costs - - 5,907 - - 5,907 (5,907) - 17,850
Battle Creek Operating Total - - 11,193 - - 11,193 (11,193) - 32,171
ALASKA ENERGY AUTHORITY
Page 8 of 13
BATTLE CREEK OPERATIONS & MAINTENANCE
SCHEDULE F
BUDGET TO ACTUAL EXPENSES
FOR THE PERIOD 07/01/2023 THROUGH 12/31/2023
FY 24 FY 23
FY24 Approved
Budget
BUDGET %
07/01/2023 -
12/31/2023 HEA Actual CEA Actual AEA Actual Total Actual
(Over) Under
Budget to Date
FY23 Approved
Budget FY23 Actual
ALASKA ENERGY AUTHORITY
FERC 544 - Maintenance of Electric Plant Total - - 11,193 - - 11,193 (11,193) - 32,171
FERC 545 - Maintenance of Misc. Hydraulic Plant
Maint of Misc Hydr Plant
Battle Creek Operating
Labor & Benefits - - 1,037 - - 1,037 (1,037) - 3,293
Contractual - - 317 - - 317 (317) - 303
Supplies & Materials - - 568 - - 568 (568) - 1,756
Equipment, Furniture & Machinery - - 1,083 - - 1,083 (1,083) - 49
Indirect Costs - - 1,480 - - 1,480 (1,480) - 4,508
Battle Creek Operating Total - - 4,486 - - 4,486 (4,486) - 9,909
FERC 545 - Maintenance of Misc. Hydraulic Plant Total - - 4,486 - - 4,486 (4,486) - 9,909
FERC 556 - System Control & Load Dispatching
System Cntl & Load Disp
Battle Creek Operating
Labor & Benefits - - 235 - - 235 (235) - 969
Contractual - - 35 - - 35 (35) - 6,273
Supplies & Materials - - - - - - - - 177
Battle Creek Operating Total - - 270 - - 270 (270) - 7,418
Snow Measurement
Battle Creek Operating
Contractual - - - - 400 400 (400) - 400
Battle Creek Operating Total - - - - 400 400 (400) - 400
Seismic Service
Battle Creek Operating
Contractual - - - - 767 767 (767) - 2,804
Battle Creek Operating Total - - - - 767 767 (767) - 2,804
Streamguaging Serv
Battle Creek Operating
Contractual 55,000 27,500 - - 31,020 31,020 (3,520) 45,000 67,062
Battle Creek Operating Total 55,000 27,500 - - 31,020 31,020 (3,520) 45,000 67,062
Permits
Battle Creek Operating
Other Costs - - - - - - - - 10
Battle Creek Operating Total - - - - - - - - 10
FERC 556 - System Control & Load Dispatching Total 55,000 27,500 270 - 32,187 32,457 (4,957) 45,000 77,693
FERC 562 - Station Expenses
Station Expenses
Battle Creek Operating
Labor & Benefits - - 509 458 - 967 (967) - 2,596
Travel - - - - 14 14 (14) - -
Contractual - - 693 - - 693 (693) - 2,785
Supplies & Materials - - - 481 - 481 (481) - 482
Battle Creek Operating Total - - 1,202 939 14 2,155 (2,155) - 5,864
FERC 562 - Station Expenses Total - - 1,202 939 14 2,155 (2,155) - 5,864
FERC 571 - Maintenance of Overhead Lines
Maint of OH Lines
Battle Creek Operating
Labor & Benefits - - - - - - - - 1,641
Contractual - - - - - - - - 7,152
Supplies & Materials - - - - - - - - 46
Battle Creek Operating Total - - - - - - - - 8,838
FERC 571 - Maintenance of Overhead Lines Total - - - - - - - - 8,838
FERC 920 & 930 - Administrative Expense
AEA Bradley Fixed Admin Fees
Battle Creek Operating
Staff Professional Services (Direct) 50,000 25,000 - - 32,557 32,557 (7,557) - 58,017
Travel - - - - 977 977 (977) - 162
Training - - - - - - - - 31
Consulting-Administrative - - - - - - - - 100
Supplies & Materials - - - - - - - - 203
Administrative Costs - - - - 38 38 (38) 43,000 3,379
Battle Creek Operating Total 50,000 25,000 - - 33,571 33,571 (8,571) 43,000 61,891
Operating Committee Exp-Audit
Battle Creek Operating
Administrative Costs - - - - 1,460 1,460 (1,460) - 1,355
Battle Creek Operating Total - - - - 1,460 1,460 (1,460) - 1,355
Operating Committee Exp-Legal
Battle Creek Operating
Administrative Costs 5,000 2,500 - - 1,943 1,943 557 5,000 7,042
Battle Creek Operating Total 5,000 2,500 - - 1,943 1,943 557 5,000 7,042
Operat Committee Exp-Arbitrage
Bradley Lake Operating
Administrative Costs - - - - - - - - 1,690
Bradley Lake Operating Total - - - - - - - - 1,690
Battle Creek Operating
Administrative Costs - - - - - - - 2,000 -
Battle Creek Operating Total - - - - - - - 2,000 -
Trust & Account Fees
Battle Creek Operating
Administrative Costs 5,500 2,750 - - - - 2,750 4,800 4,000
Battle Creek Operating Total 5,500 2,750 - - - - 2,750 4,800 4,000
Misc Admin
Battle Creek Operating
Administrative Costs 1,000 500 - - 569 569 (69) 100 567
Battle Creek Operating Total 1,000 500 - - 569 569 (69) 100 567
Professional Consultants
Battle Creek Operating
Page 9 of 13
BATTLE CREEK OPERATIONS & MAINTENANCE
SCHEDULE F
BUDGET TO ACTUAL EXPENSES
FOR THE PERIOD 07/01/2023 THROUGH 12/31/2023
FY 24 FY 23
FY24 Approved
Budget
BUDGET %
07/01/2023 -
12/31/2023 HEA Actual CEA Actual AEA Actual Total Actual
(Over) Under
Budget to Date
FY23 Approved
Budget FY23 Actual
ALASKA ENERGY AUTHORITY
Labor & Benefits - - - - 10,928 10,928 (10,928) - 29,115
Travel - - - - - - - - 266
Contractual - - - - - - - - (1,288)
Consulting-Administrative - - - - - - - - 186
Supplies & Materials - - - - - - - - 289
Other Costs - - - - - - - - 73
Battle Creek Operating Total - - - - 10,928 10,928 (10,928) - 28,641
FERC 920 & 930 - Administrative Expense Total 61,500 30,750 - - 48,471 48,471 (17,721) 54,900 105,186
FERC 924 & 925 - Insurance Premiums
Insurance Premiums
Battle Creek Operating
Administrative Costs - - 638 - 22,446 23,085 (23,085) - 44,104
Battle Creek Operating Total - - 638 - 22,446 23,085 (23,085) - 44,104
FERC 924 & 925 - Insurance Premiums Total - - 638 - 22,446 23,085 (23,085) - 44,104
FERC 923 - Outside Services Employed
Outside Services Employed
Battle Creek Operating
Consulting-Administrative - - - - 1,845 1,845 (1,845) - 17,274
Battle Creek Operating Total - - - - 1,845 1,845 (1,845) - 17,274
FERC 923 - Outside Services Employed Total - - - - 1,845 1,845 (1,845) - 17,274
FERC 928 - Regulatory Commission Expenses
FERC Admin Fees
Battle Creek Operating
Administrative Costs - - - - - - - - 5,254
Battle Creek Operating Total - - - - - - - - 5,254
FERC Related Prof Services
BRADLEY CONTRACTUAL ENGINEER-FERC LICENSE ISSUES
BRADLEY CONTRACTUAL ENGINEER-FERC LICENSE ISSUES Total - - - - - - - - -
Battle Creek Operating
Administrative Costs - - - - 2,155 2,155 (2,155) - 10,695
Battle Creek Operating Total - - - - 2,155 2,155 (2,155) - 10,695
FERC 928 - Regulatory Commission Expenses Total - - - - 2,155 2,155 (2,155) - 15,948
O&M Allocation to Battle Creek 303,768 151,884 - - - - 151,884 236,473 -
Total Battle Creek Budget 490,268 245,134 51,548 1,429 159,735 212,712 32,422 417,373 473,557
Page 10 of 13
FY22 FY22 FY23 FY23 FY24 FY24
Amended Amended Amended
Budget Actuals Budget Actuals Budget Actuals
SSQ Line Access Documentation - 144,482 - 23,555 - -
SSQ Line Acquisition Costs - 2,026 - - - -
SSQ Soldotna-Qtz Ck 230kV Construction 750,000 91,051 - 441,262 - -
Total Non R&C Capital Purchases 750,000 237,559 - 464,817 - -
SSQ LINE CAPITAL PURCHASES NOT FUNDED BY R&C FUND
ALASKA ENERGY AUTHORITY
BRADLEY LAKE HYDROELECTRIC PROJECT
SSQ Line Capital Purchases
Schedule H
Expenses for the period 07/01/23 to 12/31/23
Page 11 of 13
ALASKA ENERGY AUTHORITY
SSQ LINE OPERATIONS & MAINTENANCE
SCHEDULE I
BUDGET TO ACTUAL EXPENSES
FOR THE PERIOD 07/01/2023 THROUGH 12/31/2023
FY 24 FY 23
FY24 Approved
Budget
BUDGET %
07/01/2023 -
12/31/2023 HEA Actual CEA Actual AEA Actual Total Actual
(Over) Under
Budget to Date
FY23 Approved
Budget FY23 Actual
Summary by expense type
Staff Professional Services (Direct)15,000 7,500 - - 31,129 31,129 (23,629) 53,000 50,664
Labor & Benefits 50,000 25,000 - - - - 25,000 56,999 521
Contractual 175,000 87,500 - - - - 87,500 200,000 12,768
Permitting 40,000 20,000 - - 2,969 2,969 17,031 - -
Supplies & Materials 25,000 12,500 - - - - 12,500 25,000 2,808
Other Costs - - - - 1,250 1,250 (1,250) - 103,186
Equipment, Furniture & Machinery - - - - - - - - 29
Administrative Costs 2,000 1,000 - - - - 1,000 2,000 100,387
Total SSQ Line Budget 307,000 153,500 - - 35,348 35,348 118,152 336,999 270,363
FERC 540 - Rents
FERC Land Use Fee
SSQ Line Operating
Other Costs - - - - 1,250 1,250 (1,250) - 103,186
SSQ Line Operating Total - - - - 1,250 1,250 (1,250) - 103,186
FERC 540 - Rents Total - - - - 1,250 1,250 (1,250) - 103,186
FERC 556 - System Control & Load Dispatching
Permits
SSQ Line Operating
Permitting 40,000 20,000 - - 2,969 2,969 17,031 - -
SSQ Line Operating Total 40,000 20,000 - - 2,969 2,969 17,031 - -
FERC 556 - System Control & Load Dispatching Total 40,000 20,000 - - 2,969 2,969 17,031 - -
FERC 571 - Maintenance of Overhead Lines
Maint of OH Lines
SSQ Line Operating
Labor & Benefits 50,000 25,000 - - - - 25,000 56,999 521
Contractual 175,000 87,500 - - - - 87,500 200,000 12,768
Supplies & Materials 25,000 12,500 - - - - 12,500 25,000 -
Equipment, Furniture & Machinery - - - - - - - - 29
SSQ Line Operating Total 250,000 125,000 - - - - 125,000 281,999 13,318
FERC 571 - Maintenance of Overhead Lines Total 250,000 125,000 - - - - 125,000 281,999 13,318
FERC 920 & 930 - Administrative Expense
AEA Bradley Fixed Admin Fees
SSQ Line Operating
Staff Professional Services (Direct)15,000 7,500 - - 31,129 31,129 (23,629) 53,000 50,664
Supplies & Materials - - - - - - - - 2,417
Administrative Costs - - - - - - - - 87,510
SSQ Line Operating Total 15,000 7,500 - - 31,129 31,129 (23,629) 53,000 140,590
General & Administrative Costs
Supplies & Materials - - - - - - - - 391
Administrative Costs - - - - - - - - 10,877
General & Administrative Costs Total - - - - - - - - 11,268
Trust & Account Fees
SSQ Line Operating
Administrative Costs 2,000 1,000 - - - - 1,000 2,000 2,000
SSQ Line Operating Total 2,000 1,000 - - - - 1,000 2,000 2,000
FERC 920 & 930 - Administrative Expense Total 17,000 8,500 - - 31,129 31,129 (22,629) 55,000 153,858
Total SSQ Line Budget 307,000 153,500 - - 35,348 35,348 118,152 336,999 270,363
Page 12 of 13
Source
Construction Funds
at 12/17/20
Investment
Expenses
Calculated Capital
Reserve at 12/17/20
Purchase of HEA
SSQ Line and 69kV
Remediation
Released from
Capital Reserve
Total Available
Funding
SSQ Line Series 10 Bond Proceeds 17,000,000 (225,252) (1,239,986) (13,566,179) 832,416 2,801,000
SSQ Line Bond Series 10 Funded Capital Projects Allocate Total Funding Project Budget Encumbered Total Actual Costs
(Over) / Under
Project Budget
(Over) / Under
Total Funding
SSQ Line - 69kV Remediation 1,545,814 - 1,239,490 306,324
SSQ Line Due Diligence Inspect/Repair O/S Fire ZNE 175,000 - 2,350 172,650
SSQ Line Sterling-Qtz Ck 230kV Construction - - 186,894 (186,894)
Bradley RPW - Bond Series 10 - - 367 (367)
Total SSQ Line Projects 2,801,000 1,720,814 - 1,429,101 291,713 1,371,899
Source
Construction Funds
at 11/30/22
Investment
Expenses
Calculated Capital
Reserve at 11/30/22
Earnings (Interest
Income)
Released from
Capital Reserve
Total Available
Funding
Required Project Work Bond Series 11 Funding 166,013,134 (157,250) (12,454,346) 6,861,915 557,196 160,820,649
BESS Required Project Work Bond Series 11 Funded Capital
Projects Allocate Total Funding Project Budget Encumbered Total Actual Costs
(Over) / Under
Project Budget
(Over) / Under
Total Funding
BRADLEY HEA BESS Preliminary Study 35% 56,287,227 75,000 22,473 958 74,042 56,286,269
Total BESS Capital Projects 56,287,227 75,000 22,473 958 74,042 56,286,269
Transmission Required Project Work Bond Series 11 Funded
Capital Projects Allocate Total Funding Project Budget Encumbered Total Actual Costs
(Over) / Under
Project Budget
(Over) / Under
Total Funding
SSQ Line Sterling-Qtz Ck 230kV Construction - 37,993 255,807 (255,807)
Soldotna-Sterling 230kV Construction - - 15,854 (15,854)
Bradley RPW - Bond Series 11 - - 2,750 (2,750)
Total Transmission Capital Projects 104,533,422 - 37,993 274,411 (274,411) 104,259,010
Total Required Project Work 160,820,649 75,000 60,466 275,370 (200,370) 160,545,279
1,371,899
104,259,010
NA 2,801,000
65% 104,533,422
ALASKA ENERGY AUTHORITY
BRADLEY LAKE HYDROELECTRIC PROJECT
Capital Projects Funded by Bond Proceeds
Appendix A
12/31/23
Page 13 of 13
Bradley Operation and Dispatch Committee Report
January 2024
Meeting Dates:
December 20, 2023
Notable Discussions and Items:
The meeting provided updates and progress, if any, on the various committee
assignments. The majority of the meeting discussions revolved around understanding
changes noted in monthly water tracking and other informational reports.
Committee Assignments:
□ CEA is continuing work to address SCADA challenges to allow HEA wheeling capacity
as defined in the existing Bradley agreement.
□ CEA investigating methodology for placing units in condense mode.
□ BPMC approved - CEA & HEA investigating appropriate relay settings - $15k spend limit.
Next Meeting:
February 2nd (Initial budget review)