HomeMy WebLinkAbout2025-02-14 BPMC Agenda and docs BRADLEY LAKE PROJECT MANAGEMENT COMMITTEE MEETING AGENDA February 14, 2025 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 6, 2024
7. NEW BUSINESS
A. Resolution 25-01 Amendment to Tenth Supplemental Resolution and certain agreement related to Series 2022 Bonds to allow for interest to be used for Required Project Work 8. OLD BUSINESS
A. Resolution 25-02 Authorizing the First Amendment to the Bradley Lake O&M Agreement
B. Renewable Energy Credits (REC’s) Update
C. Grip 3, Phase 1 Update Jim Mendenhall
D. Railbelt Regional Coordination Update Brian Hickey
9. OPERATORS REPORT HEA
10. COMMITTEE REPORTS
A. Budget vs. Actuals Mark Ziesmer
B. O&D Report Josh Crowell
11. EXECUTIVE SESSION – (Bylaws Section 5.11.4(d)) – To discuss confidential financial matters the
immediate knowledge of which may have an adverse effect on the Authority or Project.
12. MEMBERS COMMENTS
13. NEXT MEETING DATE – March 21, 2025
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
MEMORANDUM
DATE: February 14, 2025
TO: Bradley Lake Project Management Committee
FROM: Curtis Thayer, AEA Executive Director
RE: Resolution 25-01, Supporting Amendment to AEA’s Tenth Supp. Bond Resolution
This memorandum provides the background and context for the Committee’s adoption
of BPMC Resolution 25-01, which supports amendments to AEA’s Tenth Supplemental Bond
Resolution and other related agreements. The proposed amendments are vital for optimizing
the Bradley Lake Hydroelectric Project’s funding and operational capabilities, including applying
interest earnings from the Bond Series 11 Construction Account to the Dixon Diversion Project.
---
In 2022, AEA adopted its Tenth Supplemental Bond Resolution and issued Bond Series
11 to raise funds for Bradley required project work. This bond was dedicated to improving the
transmission lines between Bradley Junction and the Quartz Creek Substation as well as to
battery energy storage systems. BPMC expressed its support and approval for Bond Series 11
through BPMC Resolution No. 22-08.
In January 2024, the BPMC approved expanding the use of Bond Series 11 funding to
include serving as match for the GRIP project, which overlaps in scope with Bradley required
project work.
Under the proposed resolution, BPMC again would support an updated and expanded
use for Bond Series 11 funding. AEA and the utilities have discussed raising the Bradley Project
dam height to allow for increased reserves as well as diverting water from the adjacent Dixon
glacier to Bradley Lake. This work and associated tasks are collectively referred to as the “Dixon
Diversion” project. The Dixon Diversion project would increase Bradley Lake Hydroelectric
Project power output by 50%, which is equivalent to powering 30k homes. The project would
offset 1.5Bcf natural gas starting in 2030, or 7.5% of the projected Cook Inlet shortfall.
Alaska Energy Authority Page 2 of 2
Currently AEA is seeking $12.5MM of the $350MM needed to complete the Dixon
Diversion project. AEA has requested financial support from the State of Alaska for the Dixon
Diversion project. In response, Governor Dunleavy included $6.5MM of the $12.5MM in his
proposed FY26 budget. The proposed resolution would provide support and approval for AEA
to use interest earned on AEA’s Bond Series 11 Construction Account funds on the Dixon
Diversion project. With the support and approval of the BPMC, AEA will seek approval by the
bondholder and then amend the bond documents accordingly.
4126-8118-6133.3
BRADLEY LAKE PROJECT MANAGEMENT COMMITTEE
RESOLUTION NO. 25 – 01
WHEREAS, on September 30, 2022, the Bradley Lake Project Management Committee (the
“BPMC”) approved Resolution No. 22-08 (the “BPMC Resolution”) affirming the BPMC’s prior
approval of certain capital improvements to the Bradley Lake Hydroelectric Project as Required
Project Work pursuant to the Bradley Lake Hydroelectric Project Agreement for the Sale and
Purchase of Electric Power, dated December 8, 1987 (the “Power Sales Agreement”), among the
predecessor in interest to the Alaska Energy Authority (the “Authority”) and the Purchasers; and
WHEREAS, pursuant to the BPMC Resolution, the BPMC also supported and agreed to use
Excess Payments to provide for the repayment of the Authority’s Power Revenue Bonds, Eleventh
Series (Bradley Lake Hydroelectric Project), issued 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 certain capital improvements to the Bradley Lake Hydroelectric
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 Series 2022 Bonds; and
WHEREAS, after the issuance of the Series 2022 Bonds the Authority was awarded
pursuant to a 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 matching 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 a high-voltage direct current
submarine circuit (the “Underwater HVDC Transmission Line”) crossing the 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 Resolution No. 24-01, adopted by the BPMC on January 26, 2024, the BPMC determined that the Underwater HVDC Transmission Line constituted a project of the Bradley Lake Hydroelectric Project, approved the Underwater HVDC Transmission Line as Required Project Work and approved of the Authority’s determination to seek the consent of the holder of the Series
4126-8118-6133.3
2022 Bonds to amendments to the Authority’s Resolution No. 2022-07, adopted by the Authority on November 30, 2022 (the “Tenth Supplemental Resolution”), and other agreements related to the
Series 2022 Bonds to permit the use of the proceeds of the Series 2022 Bonds to fund a portion of
the State Match requirement for the funding of the Underwater HVDC Transmission Line; and
WHEREAS, the holder of the Series 2022 Bonds has given its consent to the amendment of the Tenth Supplemental Resolution and the Loan Agreement to permit the Authority to use a portion of the proceeds of the Series 2022 Bonds to fund a portion of the State Match requirement for the funding of the Underwater HVDC Transmission Line; and WHEREAS, the Authority has determined that it would be advantageous to the Bradley Lake Hydroelectric Project to apply interest earnings on the proceeds of the Series 2022 Bonds deposited in the Eleventh Series Construction Account to additional Costs of Acquisition and Construction of the Bradley Lake Hydroelectric Project, including Costs of Acquisition and Construction of the Dixon Diversion Project and other projects determined to be Required Project Work pursuant to the Power Sales Agreement and the Authority’s Power Revenue Bond Resolution, adopted on September 7, 1989 (as amended and supplemented, the “Power Revenue Bond Resolution”); and WHEREAS, the consent of the holder of the Series 2022 Bonds to the amendment of the Tenth Supplemental Resolution and certain other agreements related to the Series 2022 Bonds is required
to permit the Authority to apply interest earnings on the proceeds of the Series 2022 Bonds deposited
in the Eleventh Series Construction Account to additional Costs of Acquisition and Construction of
the Bradley Lake Hydroelectric Project, including Costs of Acquisition and Construction of the Dixon
Diversion Project and other projects determined to be Required Project Work pursuant to the Power
Sales Agreement and the Power Revenue Bond Resolution; and
WHEREAS, in order to fund the Dixon Diversion Project, 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, the BPMC desires to confirm and support the Authority to amend the Tenth
Supplemental Resolution and any other agreements related to the Series 2022 Bonds to permit the Authority to apply interest earnings on the proceeds of the Series 2022 Bonds deposited in the Eleventh Series Construction Account to additional Costs of Acquisition and Construction of the Bradley Lake Hydroelectric Project, including Costs of Acquisition and Construction of the Dixon Diversion Project and other projects determined to be Required Project Work pursuant to the Power Sales Agreement and the Power Revenue Bond Resolution and to confirm and support the Authority’s determination to make such requests for consent of the holder of the Series 2022 Bonds to such amendments; WHEREAS, the proceeds of the Series 2022 Bonds deposited in the Eleventh Series Construction Account have been allocated by AEA and the BPMC such that approximately $90MM is intended for Soldotna-to-Sterling-to-Quartz upgrades, $20MM for the GRIP HVDC project, $28MM for utility-owned BESSs, and an additional $30MM for the GRIP HVDC project; and
4126-8118-6133.3
WHEREAS, capitalized terms used but not defined herein have the meaning given to such
terms in the Power Sales Agreement and the Resolution.
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 BPMC approves the amendment of the Tenth Supplemental
Resolution and certain other agreements related to the Series 2022 Bonds that are necessary or
desirable to permit the Authority to apply interest earnings on the proceeds of the Series 2022
Bonds deposited in the Eleventh Series Construction Account to additional Costs of Acquisition
and Construction of the Bradley Lake Hydroelectric Project, including Costs of Acquisition and
Construction of the Dixon Diversion Project and other projects determined to be Required Project
Work pursuant to the Power Sales Agreement and the Power Revenue Bond Resolution.
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 _____ day of February 2025.
BRADLEY LAKE PROJECT MANAGEMENT COMMITTEE
_________________________________
Chair
ATTEST:
____________________________________________ Secretary
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
MEMORANDUM TO: BPMC THROUGH: Curtis Thayer, Executive Director FROM: Jim Mendenhall, P.E., Program Manager
DATE: February 10, 2025
SUBJECT: Railbelt Innovation and Resiliency Project, Phase 1
GRIP Topic 3, Round 1 – Update
Stantec is making progress on their deliverables:
1. Initial Project Plan and Schedule: 2024-12-18 Preliminary Draft issued for review
2. HVDC Conceptual Design: Initial analysis is favoring an Asymmetrical monopole vs. bipole
primarily due to budget considerations.
3. HVDC Cable Preliminary Design:
4. Critical Environmental Issues Analysis: 2024-12-18 Draft issued for review
5. Preliminary Cost Estimate: Construction component ranges from $358M-$390M
AEA shared the draft reports with the Railbelt Utility members, and a working session was held on
January 23, 2025. Key takeaways from the work session:
• The consensus was that 200MW of transfer capacity was sufficient
• A bipole configuration was preferred over a monopole but the cost differential is ~25%
• Need further studies on the Soldotna – Berniece Lake link
• Need to review alternate routes included in the Southern Intertie study
• Stantec will prepare RFIs for the cable and converter stations
Stantec plans to have an intermediate report in mid-February that will address the budget estimate and
schedule. Final report will be issued in March 2025.
DOE accepted AEA’s Project Management Plan, and a formal kick-off meeting was originally scheduled for
January 31st. However, due to the Trump Executive Orders, the meeting was postponed. DOE appears to
on hold pending further guidance, and our weekly check-in meetings have been cancelled by DOE.
The Justice 40 and Community Benefits plans for the GRIP project are suspended.
Invoices have been submitted and are “under review” by DOE. We believe DOE has paused review and
payment.
AEA is preparing to advertise for several positions that will support the GRIP Project.
AEA has secured $62.7M in State matching funds and therefore we need to secure $143.8M in
additional funding.
1
Bradley Lake Project Management Committee Report on Railbelt
Regional Coordination
February 14th, 2025
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. Consistent with Section 32 of the Power sales agreement, which commits the
participants to seek a high-capacity intertie between the Kenai and Fairbanks, 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 October and
November.
Contractors:
• None
Grant Efforts :
State Match efforts
I continued working to complete a comprehensive financial package to fund the entire suite of
Railbelt upgrades.
We are evaluating options for financing.
Looking Forward:
• Given the delays in funding future GRIP rounds are uncertain
• Continued efforts to coordinate back-up material for State match efforts
2
Other Activities:
• As noted previously, on April 3rd, I transitioned to a reduced (40%) role at EDRRC as I
begin assisting the Seward Electric System with their utility management. However, I will
continue to oversee the Federal Grant applications process and aid as required in state
and utility match efforts.
• Engaging in activities to promote stakeholder support for the larger Railbelt package
This report reflects our continuous commitment to enhancing the Railbelt region's energy infrastructure
and resilience, marking significant milestones in our journey towards a more sustainable and efficient
energy future.
Bradley Lake Operators Report Page 1
Bradley Lake Operator Report
BPMC
February 14, 2025
Unit Statistics:
Generation Unit 1 (MWhrs) Unit 2 (MWhrs) Total (MWhrs)
Dec. 2024
Jan. 2025
Feb. 2025*
26,006
15,864
3,742
23,586
5,543
0.0
49,592
21,407
3,742
Hydraulics Avg. Lake Level
(ft.)
Bradley Fishwater
(ac ft.)
Battle Creek MIF
(ac ft.)
Dec. 2024
Jan. 2025
Feb. 2025*
1,151
1,146
1,146
669
538
572
0.0
0.0
0.0
Battle Creek Inflows to Bradley
(ac ft.)
Dec. 2024
Jan. 2024
Feb. 2024*
0.0
0.0
0.0
*Lake Level – 1,146.2’ As of February 7, 2025
Activities
• Forced Outages –None to report.
• Dam/Spillway – Completed the monthly safety inspections, and spillway readings. We had
to clear several trees from the road after the 70MPH windstorm.
• Battle Creek Diversion –Secured.
• Crew’s Quarters- The remodel of the kitchen is scheduled from March 3-31, 2025.
• Safety – There have been no lost time or reportable accidents for the months of
December 2024, January, February 2025. Next safety meeting is March 12, 2025.
• New Equipment – We have received the Tiger loader mounted brush hog.
• Barge- The John Calvin, a medium sized barge brought out the JCB, MU#2 replacement
breaker, Loader mounted brush hog, DC Batteries, and miscellanies steel. It back hauled
the two vehicles slated to be excised.
• Personnel- We have conducted interviews for the Plant Operator Rover position. We
have made an offer to conduct an on-site interview with one candidate.
• Developed 2026 draft budget.
Contractors/ Visitors
o HEA - Larry Jorgensen attended safety meetings.
Bradley Lake Operators Report Page 2
List of vehicles at Bradley Lake
2002 Chevrolet 1500 Crew Cab Off Site/ For Sale
1988 Chevrolet 2500 Suburban Off Site/ For Sale
2007 Chevrolet 1500 Extended Cab Contractor/ Visitor Use
2006 Chevrolet 1500 Crew Cab Contractor/ Visitor Use
2009 Chevrolet 2500 Crew Cab Equipment Fuel Truck
2017 Ford F550 Crew Cab Flatbed Heavy Duty Utility Truck
2016 Ford F35 Quigley Van Ambulance
2024 Ford f150 Extended Cab Project Manager / Law
2015 Ford F250 Crew Cab Foreman / Carey
2018 Ford F150 Extended Cab Foreman / Zigmont
2015 Ford F250 Crew Cab Plant Operator / Abel
2019 Ford F150 Crew Cab Plant Operator / Roemhildt
2022 Ford F150 Extended Cab Plant Operator / Green
2008 Ford F250 Crew Cab Plant Operator / TBD
Bradley Lake Dam, Lake Elevation at 1146.7 ft, Feb. 4, 2025
Bradley Lake Operators Report Page 3
Road at the Microwave Hut
Bradley Lake Operators Report Page 4
New Tiger Loader Mount Brush Hog
Alaska Energy Authority
Bradley Lake
Budget to Actual Expenses
07/01/2024 to 12/31/2024
Page 1 of 13
FY23 FY23 FY24 FY24 FY25 FY25
BUDGET ACTUALS BUDGET ACTUALS BUDGET ACTUALS
Upgrade Crews Quarters and Residents Kitchen 159,000 67,395 - - - -
IRIS Air Gap Monitoring System (computer) 65,000 18,491 - - - -
Replace Dump Truck and Sander - 29,493 - - - -
Heavy Duty trailer for equipment 20,000 20,000 - - - -
ABB Replace GIS Actuators 309,000 310,245 - - - -
Replacement pickup truck - 46,299 - - - -
Needle Valve rebuild 150,000 - - - - -
Start new servo design 250,000 396,171 - - - -
North Fork Improvements 5,000 - - - - -
Mini Excavator 100,000 94,465 - - - -
Install New Bradley Microwave System 500,000 280,356 518,000 45,215 - -
Brush Hog for Front End Loader - - 150,000 - - -
JLG All Terrain Fork Lift- New Purchase - - 190,000 213,942 - -
Replace BL#5 2009 F150 Crew Cab Pickup - - 45,000 - - 48,995
Warehouse Heaters x2 (Replace) - - 5,000 - - -
ISO Shipping Containers x2 (Replace) - - 40,000 30,700 - -
Replace 2012 Polaris Side by Side - - - - 65,000 62,645
Crew Quarters Remodel - - - - 85,000 -
New Circuit Breaker - Generator #2 Repair - - - - - 60,988
Total Non R&C Capital Purchases 1,558,000 1,262,914 948,000 289,857 150,000 172,628
BRADLEY LAKE
CAPITAL PURCHASES NOT FUNDED BY R&C FUND
ALASKA ENERGY AUTHORITY
BRADLEY LAKE HYDROELECTRIC PROJECT
Schedule A
Expenses for the period 07/01/24 to 12/31/24
Page 2 of 13
ALASKA ENERGY AUTHORITY
BRADLEY LAKE OPERATIONS & MAINTENANCE
SCHEDULE B
BUDGET TO ACTUAL EXPENSES
FOR THE PERIOD 07/01/2024 THROUGH 12/31/2024
FY 25 FY 24
FY25 Approved
Budget
BUDGET %
07/01/2024 -
12/31/2024 HEA Actual CEA Actual AEA Actual Total Actual
(Over) Under
Budget to Date
FY24 Approved
Budget FY24 Actual
Summary by expense type
Staff Professional Services (Direct) 312,585 156,293 - - 212,698 212,698 (56,406) 387,700 325,581
Labor & Benefits 2,054,317 1,027,159 539,510 5,673 100,559 645,743 381,416 2,023,067 1,763,168
Travel 51,500 25,750 953 1,433 57,786 60,171 (34,421) 78,500 23,515
Training 55,000 27,500 3,990 - 2,539 6,530 20,970 50,000 10,238
Contractual 1,243,010 621,505 462,894 - 77,043 539,937 81,568 1,181,381 917,237
Consulting-Administrative 315,000 157,500 - - 44,587 44,587 112,913 265,000 236,601
Supplies & Materials 378,500 189,250 129,977 6,235 622 136,834 52,416 330,332 166,554
Other Costs 112,718 56,359 23,658 14,608 3,923 42,188 14,171 79,318 62,747
Equipment, Furniture & Machinery 35,000 17,500 7,826 - - 7,826 9,674 165,000 159,553
Administrative Costs 1,978,224 989,112 34,428 - 709,294 743,722 245,390 1,553,800 1,807,663
Indirect Costs 1,480,105 740,053 662,830 - - 662,830 77,223 1,480,105 1,315,396
O&M 4% Allocation to Battle Creek (320,638) (160,319) - - - - (160,319) (303,768) -
Total Bradley Lake Budget 7,695,321 3,847,660 1,866,065 27,949 1,209,051 3,103,065 744,596 7,290,435 6,788,254
FERC 535 - Operation Supervision & Engineering
Operations Sup/Eng
Bradley Lake Operating
Labor & Benefits 105,451 52,726 49,485 - - 49,485 3,241 105,451 106,921
Travel 5,000 2,500 423 - - 423 2,077 5,000 1,972
Training 5,000 2,500 - - - - 2,500 5,000 581
Contractual 3,000 1,500 - - - - 1,500 3,000 -
Supplies & Materials 4,000 2,000 - - - - 2,000 4,000 233
Indirect Costs 155,698 77,849 70,187 - - 70,187 7,662 155,698 149,004
Bradley Lake Operating Total 278,149 139,075 120,095 - - 120,095 18,980 278,149 258,711
FERC 535 - Operation Supervision & Engineering Total 278,149 139,075 120,095 - - 120,095 18,980 278,149 258,711
FERC 537 - Hydraulic Expenses
Hydraulic Expenses
Bradley Lake Operating
Labor & Benefits 95,262 47,631 37,971 - - 37,971 9,660 95,262 72,310
Contractual - - - - - - - 60,000 -
Supplies & Materials 4,000 2,000 613 - - 613 1,387 2,000 2,461
Indirect Costs 109,250 54,625 52,955 - - 52,955 1,670 109,250 100,356
Bradley Lake Operating Total 208,512 104,256 91,540 - - 91,540 12,716 266,512 175,127
FERC 537 - Hydraulic Expenses Total 208,512 104,256 91,540 - - 91,540 12,716 266,512 175,127
FERC 538 - Electric Expenses
Electric Expenses
Bradley Lake Operating
Labor & Benefits 218,044 109,022 113,605 - - 113,605 (4,583) 218,044 211,756
Travel 7,000 3,500 - - - - 3,500 7,000 209
Training 30,000 15,000 3,990 - - 3,990 11,010 30,000 9,514
Contractual 10,000 5,000 2,610 - - 2,610 2,390 5,000 2,506
Supplies & Materials 18,500 9,250 753 - - 753 8,497 13,732 11,183
Indirect Costs 262,004 131,002 133,149 - - 133,149 (2,147) 262,004 246,564
Bradley Lake Operating Total 545,548 272,774 254,108 - - 254,108 18,666 535,780 481,731
FERC 538 - Electric Expenses Total 545,548 272,774 254,108 - - 254,108 18,666 535,780 481,731
FERC 539 - Misc. Hydraulic Power Generation Expenses
Misc Hydro Power Exp
Bradley Lake Operating
Labor & Benefits 107,742 53,871 39,632 - - 39,632 14,239 105,742 82,466
Training 20,000 10,000 - - - - 10,000 15,000 -
Contractual 385,067 192,534 263,944 - - 263,944 (71,411) 360,067 398,523
Supplies & Materials 25,000 12,500 17,836 - - 17,836 (5,336) 25,000 34,014
Indirect Costs 114,320 57,160 56,469 - - 56,469 691 114,320 114,239
Bradley Lake Operating Total 652,129 326,065 377,882 - - 377,882 (51,818) 620,129 629,241
BRADLEY CIRCUITS/RADIO TO BERNICE LK
Other Costs 35,695 17,848 17,134 - - 17,134 713 35,695 34,268
BRADLEY CIRCUITS/RADIO TO BERNICE LK Total 35,695 17,848 17,134 - - 17,134 713 35,695 34,268
BRADLEY CIRCUITS BERNICE LK TO ANCH
Other Costs 29,773 14,887 - 14,493 - 14,493 394 29,773 28,239
BRADLEY CIRCUITS BERNICE LK TO ANCH Total 29,773 14,887 - 14,493 - 14,493 394 29,773 28,239
LOWER BRADLEY CIRCUITS/RADIO TO BARGE DOCK
Other Costs 45,000 22,500 6,524 - - 6,524 15,976 - -
LOWER BRADLEY CIRCUITS/RADIO TO BARGE DOCK Total 45,000 22,500 6,524 - - 6,524 15,976 - -
FERC 539 - Misc. Hydraulic Power Generation Expenses Total 762,597 381,299 401,540 14,493 - 416,032 (34,734) 685,597 691,748
FERC 541 - Maintenance Supervision & Engineering
Maint Supervision/Eng
Bradley Lake Operating
Labor & Benefits 110,451 55,226 49,485 - - 49,485 5,741 110,451 112,706
Indirect Costs 155,698 77,849 70,187 - - 70,187 7,662 155,698 149,940
Bradley Lake Operating Total 266,149 133,075 119,672 - - 119,672 13,402 266,149 262,645
FERC 541 - Maintenance Supervision & Engineering Total 266,149 133,075 119,672 - - 119,672 13,402 266,149 262,645
FERC 542 - Maintenance of Structures
Maintenance of Structures
Default
Default Total - - - - - - - - -
Bradley Lake Operating
Labor & Benefits 89,710 44,855 33,384 - - 33,384 11,471 89,710 70,851
Contractual 126,000 63,000 64,725 - - 64,725 (1,725) 56,000 43,732
Supplies & Materials 70,000 35,000 37,755 - - 37,755 (2,755) 78,000 20,423
Equipment, Furniture & Machinery 20,000 10,000 7,826 - - 7,826 2,174 15,000 19,772
Indirect Costs 102,350 51,175 46,849 - - 46,849 4,326 102,350 95,457
Bradley Lake Operating Total 408,060 204,030 190,539 - - 190,539 13,491 341,060 250,235
FERC 542 - Maintenance of Structures Total 408,060 204,030 190,539 - - 190,539 13,491 341,060 250,235
FERC 543 - Maintenance of Reservoirs, Dams & Waterways
Maint Res, Dams, WWays
Bradley Lake Operating
Labor & Benefits 51,783 25,892 8,285 - - 8,285 17,606 51,783 6,012
Page 3 of 13
ALASKA ENERGY AUTHORITY
BRADLEY LAKE OPERATIONS & MAINTENANCE
SCHEDULE B
BUDGET TO ACTUAL EXPENSES
FOR THE PERIOD 07/01/2024 THROUGH 12/31/2024
FY 25 FY 24
FY25 Approved
Budget
BUDGET %
07/01/2024 -
12/31/2024 HEA Actual CEA Actual AEA Actual Total Actual
(Over) Under
Budget to Date
FY24 Approved
Budget FY24 Actual
Contractual 39,500 19,750 - - - - 19,750 6,500 -
Supplies & Materials 85,000 42,500 - - - - 42,500 20,000 -
Equipment, Furniture & Machinery 15,000 7,500 - - - - 7,500 - -
Indirect Costs 58,650 29,325 10,125 - - 10,125 19,200 58,650 8,664
Bradley Lake Operating Total 249,933 124,967 18,411 - - 18,411 106,556 136,933 14,675
BRADLEY POWER TUNNEL MAINT (Dam)
Contractual 15,000 7,500 - - - - 7,500 15,000 -
BRADLEY POWER TUNNEL MAINT (Dam) Total 15,000 7,500 - - - - 7,500 15,000 -
FERC 543 - Maintenance of Reservoirs, Dams & Waterways Total 264,933 132,467 18,411 - - 18,411 114,056 151,933 14,675
FERC 544 - Maintenance of Electric Plant
Maintenance of Elec Plant
Bradley Lake Operating
Labor & Benefits 309,110 154,555 123,288 - - 123,288 31,267 309,110 259,650
Travel 4,500 2,250 530 - - 530 1,720 4,500 354
Contractual 75,000 37,500 47,107 - - 47,107 (9,607) 40,000 51,632
Supplies & Materials 40,000 20,000 20,055 - - 20,055 (55) 40,000 36,163
Indirect Costs 423,178 211,589 176,388 - - 176,388 35,201 423,178 360,486
Bradley Lake Operating Total 851,788 425,894 367,369 - - 367,369 58,525 816,788 708,284
FERC 544 - Maintenance of Electric Plant Total 851,788 425,894 367,369 - - 367,369 58,525 816,788 708,284
FERC 545 - Maintenance of Misc. Hydraulic Plant
Maint of Misc Hydr Plant
Bradley Lake Operating
Labor & Benefits 69,297 34,649 32,848 - - 32,848 1,801 69,297 65,189
Contractual 45,000 22,500 26,209 - - 26,209 (3,709) 45,000 74,760
Supplies & Materials 68,000 34,000 25,857 - - 25,857 8,143 68,000 53,871
Equipment, Furniture & Machinery - - - - - - - 150,000 139,780
Indirect Costs 98,957 49,479 46,519 - - 46,519 2,960 98,957 90,687
Bradley Lake Operating Total 281,254 140,627 131,433 - - 131,433 9,194 431,254 424,287
FERC 545 - Maintenance of Misc. Hydraulic Plant Total 281,254 140,627 131,433 - - 131,433 9,194 431,254 424,287
FERC 556 - System Control & Load Dispatching
System Cntl & Load Disp
Bradley Lake Operating
Labor & Benefits 20,174 10,087 20,521 - - 20,521 (10,434) 20,174 11,901
Contractual 103,500 51,750 46,728 - - 46,728 5,022 85,500 44,724
Supplies & Materials 12,000 6,000 - - - - 6,000 12,000 438
Bradley Lake Operating Total 135,674 67,837 67,249 - - 67,249 588 117,674 57,063
Snow Measurement
Bradley Lake Operating
Contractual 10,000 5,000 - - - - 5,000 10,000 9,600
Bradley Lake Operating Total 10,000 5,000 - - - - 5,000 10,000 9,600
Seismic Service
Bradley Lake Operating
Contractual 64,868 32,434 - - 23,523 23,523 8,911 62,000 60,755
Bradley Lake Operating Total 64,868 32,434 - - 23,523 23,523 8,911 62,000 60,755
Streamguaging Serv
Bradley Lake Operating
Contractual 216,275 108,138 - - 53,520 53,520 54,618 278,014 151,920
Bradley Lake Operating Total 216,275 108,138 - - 53,520 53,520 54,618 278,014 151,920
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 427,167 213,584 67,249 - 77,043 144,292 69,292 468,038 279,578
FERC 562 - Station Expenses
Station Expenses
Bradley Lake Operating
Labor & Benefits 96,612 48,306 19,548 5,673 - 25,221 23,085 102,043 162,103
Travel 2,500 1,250 - 1,433 - 1,433 (183) 3,500 336
Contractual 79,800 39,900 11,570 - - 11,570 28,330 80,300 79,087
Supplies & Materials 23,000 11,500 15,141 6,235 - 21,377 (9,877) 19,600 5,501
Other Costs 1,900 950 - 115 - 115 835 1,500 -
Bradley Lake Operating Total 203,812 101,906 46,259 13,457 - 59,715 42,191 206,943 247,026
FERC 562 - Station Expenses Total 203,812 101,906 46,259 13,457 - 59,715 42,191 206,943 247,026
FERC 571 - Maintenance of Overhead Lines
Maint of OH Lines
Bradley Lake Operating
Labor & Benefits 36,500 18,250 11,459 - - 11,459 6,791 16,000 52,998
Contractual 70,000 35,000 - - - - 35,000 75,000 -
Supplies & Materials 20,000 10,000 11,965 - - 11,965 (1,965) 30,000 -
Bradley Lake Operating Total 126,500 63,250 23,424 - - 23,424 39,826 121,000 52,998
FERC 571 - Maintenance of Overhead Lines Total 126,500 63,250 23,424 - - 23,424 39,826 121,000 52,998
FERC 920 & 930 - Administrative Expense
AEA Bradley Fixed Admin Fees
Bradley Lake Operating
Staff Professional Services (Direct) 312,585 156,293 - - 212,698 212,698 (56,406) 387,700 325,581
Travel - - - - 55,718 55,718 (55,718) - 20,643
Training - - - - 2,539 2,539 (2,539) - 144
Consulting-Administrative - - - - 307 307 (307) - 17,374
Supplies & Materials - - - - 622 622 (622) - 2,268
Other Costs - - - - 3,923 3,923 (3,923) - -
Administrative Costs 172,500 86,250 - - 117,301 117,301 (31,051) 2,500 186,707
Bradley Lake Operating Total 485,085 242,543 - - 393,107 393,107 (150,565) 390,200 552,716
General & Administrative Costs
General & Administrative Costs Total - - - - - - - - -
Operating Committee Exp-Audit
Bradley Lake Operating
Administrative Costs 41,000 20,500 - - 38,534 38,534 (18,034) 22,000 35,030
Page 4 of 13
ALASKA ENERGY AUTHORITY
BRADLEY LAKE OPERATIONS & MAINTENANCE
SCHEDULE B
BUDGET TO ACTUAL EXPENSES
FOR THE PERIOD 07/01/2024 THROUGH 12/31/2024
FY 25 FY 24
FY25 Approved
Budget
BUDGET %
07/01/2024 -
12/31/2024 HEA Actual CEA Actual AEA Actual Total Actual
(Over) Under
Budget to Date
FY24 Approved
Budget FY24 Actual
Bradley Lake Operating Total 41,000 20,500 - - 38,534 38,534 (18,034) 22,000 35,030
Operating Committee Exp-Legal
Bradley Lake Operating
Administrative Costs 80,000 40,000 - - 47,795 47,795 (7,795) 80,000 149,198
Bradley Lake Operating Total 80,000 40,000 - - 47,795 47,795 (7,795) 80,000 149,198
Trust & Account Fees
Bradley Lake Operating
Administrative Costs - - - - - - - 13,000 -
Bradley Lake Operating Total - - - - - - - 13,000 -
Battle Creek Operating
Battle Creek Operating Total - - - - - - - - -
Misc Admin
Bradley Lake Operating
Administrative Costs 13,000 6,500 - - 14,588 14,588 (8,088) 13,000 14,110
Bradley Lake Operating Total 13,000 6,500 - - 14,588 14,588 (8,088) 13,000 14,110
Professional Consultants
Bradley Lake Operating
Labor & Benefits 744,181 372,091 - - 100,559 100,559 271,531 730,000 548,307
Travel 32,500 16,250 - - 2,068 2,068 14,182 58,500 -
Supplies & Materials 9,000 4,500 - - - - 4,500 18,000 -
Other Costs - - - - - - - 12,000 -
Bradley Lake Operating Total 785,681 392,841 - - 102,627 102,627 290,213 818,500 548,307
FERC 920 & 930 - Administrative Expense Total 1,404,766 702,383 - - 596,652 596,652 105,731 1,336,700 1,299,363
FERC 924 & 925 - Insurance Premiums
Insurance Premiums
Bradley Lake Operating
Administrative Costs 1,371,724 685,862 34,428 - 491,076 525,503 160,359 1,138,300 1,219,190
Bradley Lake Operating Total 1,371,724 685,862 34,428 - 491,076 525,503 160,359 1,138,300 1,219,190
FERC 924 & 925 - Insurance Premiums Total 1,371,724 685,862 34,428 - 491,076 525,503 160,359 1,138,300 1,219,190
FERC 923 - Outside Services Employed
Outside Services Employed
Bradley Lake Operating
Consulting-Administrative 315,000 157,500 - - 44,280 44,280 113,220 265,000 219,228
Bradley Lake Operating Total 315,000 157,500 - - 44,280 44,280 113,220 265,000 219,228
FERC 923 - Outside Services Employed Total 315,000 157,500 - - 44,280 44,280 113,220 265,000 219,228
FERC 928 - Regulatory Commission Expenses
FERC Admin Fees
Bradley Lake Operating
Administrative Costs 180,000 90,000 - - - - 90,000 165,000 155,391
Bradley Lake Operating Total 180,000 90,000 - - - - 90,000 165,000 155,391
FERC Related Prof Services
Bradley Lake Operating
Bradley Lake Operating Total - - - - - - - - -
BRADLEY CONTRACTUAL ENGINEER-FERC LICENSE ISSUES
Administrative Costs 120,000 60,000 - - - - 60,000 120,000 48,036
BRADLEY CONTRACTUAL ENGINEER-FERC LICENSE ISSUES Total 120,000 60,000 - - - - 60,000 120,000 48,036
FERC 928 - Regulatory Commission Expenses Total 300,000 150,000 - - - - 150,000 285,000 203,427
O&M 4% Allocation to Battle Creek (320,638) (160,319) - - - - (160,319) (303,768) -
Total Bradley Lake Budget 7,695,321 3,847,660 1,866,065 27,949 1,209,051 3,103,065 744,596 7,290,435 6,788,254
- - - - - - - - -
Page 5 of 13
Actual Projected Actual Projected Actual Projected
@ 6/30/23 TO REPAY Budget @ 6/30/24 TO REPAY Budget @ 6/30/25 TO REPAY Budget
Description Expense @6/30/23 FY23 Expense @6/30/24 FY24 Expense @6/30/25 FY25
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 3,173 137,397 1,500,000 33,942 171,339 1,338,000 - 171,339 1,307,299
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 Nozzle 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 -
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 125,175 194,769 - 805,515 1,000,284 910,000 75,010 1,075,294 -
Spillway Raise & Expansion Project (aka Dixon Diversion)**661,031 1,208,731 1,500,000 176,092 1,384,822 252,000 413,926 1,798,748 839,270
Needle Valve Rebuild - - - 198,086 198,086 1,579,535 1,504,127 1,702,213 1,719,535
Barge Dock Rehabilitation - - - - - - 401 401 600,000
789,379 34,084,987 3,000,000 1,213,635 35,298,622 4,079,535 1,993,463 37,292,085 4,466,103
Current Year R&C Repayment (2,757,013) (3,338,646) (2,580,808)
Adjust balance to $5 million - - -
Interest in Fund Applied to Repayment (100,912) (246,205) (113,404)
Net Transfer from Revenue Fund (2,857,925) (3,584,851) (2,694,212)
Cumulative Prior Years R&C Repayments (29,808,017) (31,677,137) (33,746,653)
Due to (from) Utilities 988,805 1,515,335 1,448,038
Adjust Due to R&C Actual - - -
(28,819,211) (30,161,802) (32,298,614)
NET DUE TO R&C FUND 2,407,851 1,551,969 2,299,259
R&C FUND CASH FLOW PROJECTION
Beginning Investment Balance 2,363,808 4,370,333 6,177,000
Disbursements-current year -Accrual - - -
Disbursements-prior year accrued (473,241) (789,379) (1,213,635)
Utilities' R&C Refund (378,159) (988,805) (1,515,335)
Net other cash inflow(outflow) - - -
Current year interest earnings 100,912 246,205 113,404
Participants Contributions to R&C Fund 2,757,013 3,338,646 2,580,808
Ending Investment Balance 4,370,333 6,177,000 6,142,242
Accrued Due to (from) Utilities (988,805) (1,515,335) (1,448,038)
R&C payable back to the revenue fund - - -
Accrued R&C vendor Payable at Year End (789,379) (1,213,635) (1,993,463)
PROJECTED NET DUE + ENDING INVESTMENT BALANCE 5,000,000 5,000,000 5,000,000
**Spillway Raise & Expansion Project (aka Dixon Diversion)
Paid with Bradley Lake R&C Fund ($2.3M) 1,798,748
Paid with Renewable Energy Fund Grant ($1MM) 684,360
Paid with State Appropriations ($5MM) 3,321,000
Total Project Cost at 12/31/24 5,804,108
4th 103,013
3rd 1,321,709 4th 1,321,709
2nd 247,054 3rd 247,054 4th 247,054
1st 197,345 2nd 197,345 3rd 197,345
1st 303,409 2nd 303,409
1st 498,366
1,869,120 2,069,516 1,246,173
BRADLEY LAKE
R&C FUND DISBURSEMENTS AND REPAYMENTS
SCHEDULE D
Expenses for the period 07/01/24 to 12/31/24
Page 6 of 13
FY23 FY23 FY24 FY24 FY25 FY25
BUDGET ACTUALS BUDGET ACTUALS BUDGET ACTUALS
Battle Creek Associated Costs 15,000 11,986 15,000 - - -
Vent Enlargement 50,000 32,407 - - - -
Pressure Sensor w SCADA 25,000 27,030 - - - -
Survey and Monument DNR Lease - - 150,000 88,651 5,000 2,621
Total Non R&C Capital Purchases 90,000 71,423 165,000 88,651 5,000 2,621
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 07/01/24 to 12/31/24
Page 7 of 13
BATTLE CREEK OPERATIONS & MAINTENANCE
SCHEDULE F
BUDGET TO ACTUAL EXPENSES
FOR THE PERIOD 07/01/2024 THROUGH 12/31/2024
FY 25 FY 24
FY25 Approved
Budget
BUDGET %
07/01/2024 -
12/31/2024 HEA Actual CEA Actual AEA Actual Total Actual
(Over) Under
Budget to Date
FY24 Approved
Budget FY24 Actual
Summary by expense type
Staff Professional Services (Direct) 50,000 25,000 - - 18,054 18,054 6,946 50,000 48,886
Labor & Benefits 10,000 5,000 22,480 236 4,190 26,906 (21,906) - 73,465
Travel - - 40 60 2,873 2,972 (2,972) - 1,411
Training - - 166 - 106 272 (272) - 427
Contractual 201,300 100,650 19,287 - 3,210 22,497 78,153 125,000 154,741
Consulting-Administrative - - - - 1,858 1,858 (1,858) - 9,858
Supplies & Materials 5,000 2,500 5,416 260 26 5,701 (3,201) - 6,940
Other Costs - - 986 609 163 1,758 (1,758) - 2,614
Equipment, Furniture & Machinery - - 326 - - 326 (326) - 6,648
Administrative Costs 14,000 7,000 1,434 - 29,554 30,988 (23,988) 11,500 81,420
Indirect Costs - - 27,618 - - 27,618 (27,618) - 54,808
O&M 4% Allocation to Battle Creek 320,638 160,319 - - - - 160,319 303,768 -
Total Battle Creek Budget 600,938 300,469 77,753 1,165 60,034 138,951 161,518 490,268 441,218
FERC 535 - Operation Supervision & Engineering
Operations Sup/Eng
Battle Creek Operating
Labor & Benefits 1,500 750 2,062 - - 2,062 (1,312) - 4,455
Travel - - 18 - - 18 (18) - 82
Training - - - - - - - - 24
Supplies & Materials 1,000 500 - - - - 500 - 10
Indirect Costs - - 2,924 - - 2,924 (2,924) - 6,209
Battle Creek Operating Total 2,500 1,250 5,004 - - 5,004 (3,754) - 10,780
FERC 535 - Operation Supervision & Engineering Total 2,500 1,250 5,004 - - 5,004 (3,754) - 10,780
FERC 537 - Hydraulic Expenses
Hydraulic Expenses
Battle Creek Operating
Labor & Benefits 1,500 750 1,582 - - 1,582 (832) - 3,013
Contractual 145,000 72,500 - - - - 72,500 70,000 62,923
Supplies & Materials 1,000 500 26 - - 26 474 - 103
Indirect Costs - - 2,206 - - 2,206 (2,206) - 4,182
Battle Creek Operating Total 147,500 73,750 3,814 - - 3,814 69,936 70,000 70,220
FERC 537 - Hydraulic Expenses Total 147,500 73,750 3,814 - - 3,814 69,936 70,000 70,220
FERC 538 - Electric Expenses
Electric Expenses
Battle Creek Operating
Labor & Benefits 1,500 750 4,734 - - 4,734 (3,984) - 8,823
Travel - - - - - - - - 9
Training - - 166 - - 166 (166) - 396
Contractual - - 109 - - 109 (109) - 104
Supplies & Materials 1,000 500 31 - - 31 469 - 466
Indirect Costs - - 5,548 - - 5,548 (5,548) - 10,273
Battle Creek Operating Total 2,500 1,250 10,588 - - 10,588 (9,338) - 20,072
FERC 538 - Electric Expenses Total 2,500 1,250 10,588 - - 10,588 (9,338) - 20,072
FERC 539 - Misc. Hydraulic Power Generation Expenses
Misc Hydro Power Exp
Battle Creek Operating
Labor & Benefits 1,500 750 1,651 - - 1,651 (901) - 3,436
Contractual - - 10,998 - - 10,998 (10,998) - 16,605
Supplies & Materials 1,000 500 743 - - 743 (243) - 1,417
Other Costs - - 986 604 - 1,590 (1,590) - 2,604
Indirect Costs - - 2,353 - - 2,353 (2,353) - 4,760
Battle Creek Operating Total 2,500 1,250 16,731 604 - 17,335 (16,085) - 28,823
FERC 539 - Misc. Hydraulic Power Generation Expenses Total 2,500 1,250 16,731 604 - 17,335 (16,085) - 28,823
FERC 541 - Maintenance Supervision & Engineering
Maint Supervision/Eng
Battle Creek Operating
Labor & Benefits 2,500 1,250 2,062 - - 2,062 (812) - 4,696
Indirect Costs - - 2,924 - - 2,924 (2,924) - 6,247
Battle Creek Operating Total 2,500 1,250 4,986 - - 4,986 (3,736) - 10,944
FERC 541 - Maintenance Supervision & Engineering Total 2,500 1,250 4,986 - - 4,986 (3,736) - 10,944
FERC 542 - Maintenance of Structures
Maintenance of Structures
Battle Creek Operating
Labor & Benefits 1,500 750 1,391 - - 1,391 (641) - 2,952
Contractual - - 2,697 - - 2,697 (2,697) - 1,822
Supplies & Materials 1,000 500 1,573 - - 1,573 (1,073) - 851
Equipment, Furniture & Machinery - - 326 - - 326 (326) - 824
Indirect Costs - - 1,952 - - 1,952 (1,952) - 3,977
Battle Creek Operating Total 2,500 1,250 7,939 - - 7,939 (6,689) - 10,426
FERC 542 - Maintenance of Structures Total 2,500 1,250 7,939 - - 7,939 (6,689) - 10,426
FERC 543 - Maintenance of Reservoirs, Dams & Waterways
Maint Res, Dams, WWays
Battle Creek Operating
Labor & Benefits - - 345 - - 345 (345) - 250
Indirect Costs - - 422 - - 422 (422) - 361
Battle Creek Operating Total - - 767 - - 767 (767) - 611
FERC 543 - Maintenance of Reservoirs, Dams & Waterways Total - - 767 - - 767 (767) - 611
FERC 544 - Maintenance of Electric Plant
Maintenance of Elec Plant
Battle Creek Operating
Labor & Benefits - - 5,137 - - 5,137 (5,137) - 10,819
Travel - - 22 - - 22 (22) - 15
Contractual - - 1,963 - - 1,963 (1,963) - 2,151
Supplies & Materials - - 836 - - 836 (836) - 1,507
Indirect Costs - - 7,350 - - 7,350 (7,350) - 15,020
Battle Creek Operating Total - - 15,307 - - 15,307 (15,307) - 29,512
ALASKA ENERGY AUTHORITY
Page 8 of 13
BATTLE CREEK OPERATIONS & MAINTENANCE
SCHEDULE F
BUDGET TO ACTUAL EXPENSES
FOR THE PERIOD 07/01/2024 THROUGH 12/31/2024
FY 25 FY 24
FY25 Approved
Budget
BUDGET %
07/01/2024 -
12/31/2024 HEA Actual CEA Actual AEA Actual Total Actual
(Over) Under
Budget to Date
FY24 Approved
Budget FY24 Actual
ALASKA ENERGY AUTHORITY
FERC 544 - Maintenance of Electric Plant Total - - 15,307 - - 15,307 (15,307) - 29,512
FERC 545 - Maintenance of Misc. Hydraulic Plant
Maint of Misc Hydr Plant
Battle Creek Operating
Labor & Benefits - - 1,369 - - 1,369 (1,369) - 2,716
Contractual - - 1,092 - - 1,092 (1,092) - 3,115
Supplies & Materials - - 1,077 - - 1,077 (1,077) - 2,245
Equipment, Furniture & Machinery - - - - - - - - 5,824
Indirect Costs - - 1,938 - - 1,938 (1,938) - 3,779
Battle Creek Operating Total - - 5,476 - - 5,476 (5,476) - 17,679
FERC 545 - Maintenance of Misc. Hydraulic Plant Total - - 5,476 - - 5,476 (5,476) - 17,679
FERC 556 - System Control & Load Dispatching
System Cntl & Load Disp
Battle Creek Operating
Labor & Benefits - - 855 - - 855 (855) - 496
Contractual - - 1,947 - - 1,947 (1,947) - 1,864
Supplies & Materials - - - - - - - - 18
Battle Creek Operating Total - - 2,802 - - 2,802 (2,802) - 2,378
Snow Measurement
Battle Creek Operating
Contractual - - - - - - - - 400
Battle Creek Operating Total - - - - - - - - 400
Seismic Service
Battle Creek Operating
Contractual - - - - 980 980 (980) - 2,531
Battle Creek Operating Total - - - - 980 980 (980) - 2,531
Streamguaging Serv
Battle Creek Operating
Contractual 56,300 28,150 - - 2,230 2,230 25,920 55,000 59,930
Battle Creek Operating Total 56,300 28,150 - - 2,230 2,230 25,920 55,000 59,930
Permits
Battle Creek Operating
Other Costs - - - - - - - - 10
Battle Creek Operating Total - - - - - - - - 10
FERC 556 - System Control & Load Dispatching Total 56,300 28,150 2,802 - 3,210 6,012 22,138 55,000 65,249
FERC 562 - Station Expenses
Station Expenses
Battle Creek Operating
Labor & Benefits - - 814 236 - 1,051 (1,051) - 6,754
Travel - - - 60 - 60 (60) - 14
Contractual - - 482 - - 482 (482) - 3,295
Supplies & Materials - - 631 260 - 891 (891) - 229
Other Costs - - - 5 - 5 (5) - -
Battle Creek Operating Total - - 1,927 561 - 2,488 (2,488) - 10,293
FERC 562 - Station Expenses Total - - 1,927 561 - 2,488 (2,488) - 10,293
FERC 571 - Maintenance of Overhead Lines
Maint of OH Lines
Battle Creek Operating
Labor & Benefits - - 477 - - 477 (477) - 2,208
Supplies & Materials - - 499 - - 499 (499) - -
Battle Creek Operating Total - - 976 - - 976 (976) - 2,208
FERC 571 - Maintenance of Overhead Lines Total - - 976 - - 976 (976) - 2,208
FERC 920 & 930 - Administrative Expense
AEA Bradley Fixed Admin Fees
Battle Creek Operating
Staff Professional Services (Direct) 50,000 25,000 - - 18,054 18,054 6,946 50,000 48,886
Travel - - - - 2,787 2,787 (2,787) - 1,291
Training - - - - 106 106 (106) - 6
Consulting-Administrative - - - - 13 13 (13) - 724
Supplies & Materials - - - - 26 26 (26) - 94
Other Costs - - - - 163 163 (163) - -
Administrative Costs - - - - 4,888 4,888 (4,888) - 7,793
Battle Creek Operating Total 50,000 25,000 - - 26,036 26,036 (1,036) 50,000 58,794
Operating Committee Exp-Audit
Battle Creek Operating
Administrative Costs - - - - 1,606 1,606 (1,606) - 1,460
Battle Creek Operating Total - - - - 1,606 1,606 (1,606) - 1,460
Operating Committee Exp-Legal
Battle Creek Operating
Administrative Costs 5,000 2,500 - - 1,991 1,991 509 5,000 6,217
Battle Creek Operating Total 5,000 2,500 - - 1,991 1,991 509 5,000 6,217
Operat Committee Exp-Arbitrage
Battle Creek Operating
Administrative Costs 2,500 1,250 - - - - 1,250 - 1,690
Battle Creek Operating Total 2,500 1,250 - - - - 1,250 - 1,690
Trust & Account Fees
Battle Creek Operating
Administrative Costs 5,500 2,750 - - - - 2,750 5,500 4,170
Battle Creek Operating Total 5,500 2,750 - - - - 2,750 5,500 4,170
Misc Admin
Battle Creek Operating
Administrative Costs 1,000 500 - - 608 608 (108) 1,000 588
Battle Creek Operating Total 1,000 500 - - 608 608 (108) 1,000 588
Professional Consultants
Battle Creek Operating
Labor & Benefits - - - - 4,190 4,190 (4,190) - 22,846
Travel - - - - 86 86 (86) - -
Page 9 of 13
BATTLE CREEK OPERATIONS & MAINTENANCE
SCHEDULE F
BUDGET TO ACTUAL EXPENSES
FOR THE PERIOD 07/01/2024 THROUGH 12/31/2024
FY 25 FY 24
FY25 Approved
Budget
BUDGET %
07/01/2024 -
12/31/2024 HEA Actual CEA Actual AEA Actual Total Actual
(Over) Under
Budget to Date
FY24 Approved
Budget FY24 Actual
ALASKA ENERGY AUTHORITY
Battle Creek Operating Total - - - - 4,276 4,276 (4,276) - 22,846
FERC 920 & 930 - Administrative Expense Total 64,000 32,000 - - 34,517 34,517 (2,517) 61,500 95,764
FERC 924 & 925 - Insurance Premiums
Insurance Premiums
Battle Creek Operating
Administrative Costs - - 1,434 - 20,461 21,896 (21,896) - 50,800
Battle Creek Operating Total - - 1,434 - 20,461 21,896 (21,896) - 50,800
FERC 924 & 925 - Insurance Premiums Total - - 1,434 - 20,461 21,896 (21,896) - 50,800
FERC 923 - Outside Services Employed
Outside Services Employed
Battle Creek Operating
Consulting-Administrative - - - - 1,845 1,845 (1,845) - 9,134
Battle Creek Operating Total - - - - 1,845 1,845 (1,845) - 9,134
FERC 923 - Outside Services Employed Total - - - - 1,845 1,845 (1,845) - 9,134
FERC 928 - Regulatory Commission Expenses
FERC Admin Fees
Battle Creek Operating
Administrative Costs - - - - - - - - 6,475
Battle Creek Operating Total - - - - - - - - 6,475
FERC Related Prof Services
BRADLEY CONTRACTUAL ENGINEER-FERC LICENSE ISSUES
Administrative Costs - - - - - - - - 227
BRADLEY CONTRACTUAL ENGINEER-FERC LICENSE ISSUES Total - - - - - - - - 227
Battle Creek Operating
Administrative Costs - - - - - - - - 2,002
Battle Creek Operating Total - - - - - - - - 2,002
FERC 928 - Regulatory Commission Expenses Total - - - - - - - - 8,703
O&M Allocation to Battle Creek 320,638 160,319 - - - - 160,319 303,768 -
Total Battle Creek Budget 600,938 300,469 77,753 1,165 60,034 138,951 161,518 490,268 441,218
Page 10 of 13
FY23 FY23 FY24 FY24 FY25 FY25
BUDGET ACTUALS BUDGET ACTUALS BUDGET ACTUALS
SSQ Line Access Documentation - 23,555 - - - -
SSQ Soldotna-Qtz Ck 230kV Construction - 441,262 - - - -
Total Non R&C Capital Purchases - 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 07/01/24 to 12/31/24
Page 11 of 13
FY 25 FY 24
FY25 Approved
Budget
BUDGET %
07/01/2024 -
12/31/2024 HEA Actual CEA Actual AEA Actual Total Actual
(Over) Under
Budget to Date
FY24 Approved
Budget FY24 Actual
Summary by expense type
Staff Professional Services (Direct)40,000 20,000 - - 1,080 1,080 18,920 15,000 34,357
Labor & Benefits 50,000 25,000 21,212 - - 21,212 3,788 50,000 -
Travel - - - - 39 39 (39) - 338
Contractual 150,000 75,000 48,618 - - 48,618 26,382 175,000 -
Permitting 36,878 18,439 - - 4,282 4,282 14,157 40,000 2,969
Supplies & Materials 20,000 10,000 - - 1 1 9,999 25,000 567
Other Costs - - - - - - - - 1,250
Administrative Costs 47,000 23,500 - - 146 146 23,354 2,000 38,439
Total SSQ Line Budget 343,878 171,939 69,830 - 5,548 75,378 96,561 307,000 77,920
FERC 540 - Rents
FERC Land Use Fee
SSQ Line Operating
Other Costs - - - - - - - - 1,250
SSQ Line Operating Total - - - - - - - - 1,250
FERC 540 - Rents Total - - - - - - - - 1,250
FERC 556 - System Control & Load Dispatching
Permits
SSQ Line Operating
Permitting 36,878 18,439 - - 4,282 4,282 14,157 40,000 2,969
SSQ Line Operating Total 36,878 18,439 - - 4,282 4,282 14,157 40,000 2,969
FERC 556 - System Control & Load Dispatching Total 36,878 18,439 - - 4,282 4,282 14,157 40,000 2,969
FERC 571 - Maintenance of Overhead Lines
Maint of OH Lines
SSQ Line Operating
Labor & Benefits 50,000 25,000 21,212 - - 21,212 3,788 50,000 -
Contractual 150,000 75,000 48,618 - - 48,618 26,382 175,000 -
Supplies & Materials 20,000 10,000 - - - - 10,000 25,000 -
SSQ Line Operating Total 220,000 110,000 69,830 - - 69,830 40,170 250,000 -
FERC 571 - Maintenance of Overhead Lines Total 220,000 110,000 69,830 - - 69,830 40,170 250,000 -
FERC 920 & 930 - Administrative Expense
AEA Bradley Fixed Admin Fees
Battle Creek Operating
Battle Creek Operating Total - - - - - - - - -
SSQ Line Operating
Staff Professional Services (Direct)40,000 20,000 - - 1,080 1,080 18,920 15,000 34,357
Travel - - - - 39 39 (39) - 338
Supplies & Materials - - - - 1 1 (1) - 567
Administrative Costs 20,000 10,000 - - 146 146 9,854 - 36,439
SSQ Line Operating Total 60,000 30,000 - - 1,266 1,266 28,734 15,000 71,701
General & Administrative Costs
General & Administrative Costs Total - - - - - - - - -
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 62,000 31,000 - - 1,266 1,266 29,734 17,000 73,701
FERC 928 - Regulatory Commission Expenses
FERC Related Prof Services
BRADLEY CONTRACTUAL ENGINEER-FERC LICENSE ISSUES
Administrative Costs 25,000 12,500 - - - - 12,500 - -
BRADLEY CONTRACTUAL ENGINEER-FERC LICENSE ISSUES Total 25,000 12,500 - - - - 12,500 - -
FERC 928 - Regulatory Commission Expenses Total 25,000 12,500 - - - - 12,500 - -
Total SSQ Line Budget 343,878 171,939 69,830 - 5,548 75,378 96,561 307,000 77,920
ALASKA ENERGY AUTHORITY
SSQ LINE OPERATIONS & MAINTENANCE
SCHEDULE I
BUDGET TO ACTUAL EXPENSES
FOR THE PERIOD 07/01/2024 THROUGH 12/31/2024
Page 12 of 13
Source
Construction Funds
at 11/30/22
Investment
Expenses
Calculated Capital
Reserve at
11/30/22
Released from
Capital Reserve
Total Available
Funding
Required Project Work Bond Series 11 Funding 166,013,134 (157,250) (12,454,346) 1,151,865 154,553,403
BESS Required Project Work Bond Series 11 Funded Capital
Projects Total Funding Project Budget Encumbered Total Actual Costs
(Over) / Under
Project Budget
(Over) / Under
Total Funding
BRADLEY HEA BESS Preliminary Study 24,093,691 75,000 22,473 958 74,042 24,070,260
Total BESS Capital Projects 24,093,691 75,000 22,473 958 74,042 24,070,260
Transmission Required Project Work Bond Series 11 Funded
Capital Projects Total Funding Project Budget Encumbered Total Actual Costs
(Over) / Under
Project Budget
(Over) / Under
Total Funding
SSQ Line Sterling-Qtz Ck 230kV Construction - 119,497 1,260,529 (1,260,529)
Soldotna-Sterling 230kV Construction - - 375,783 (375,783)
BRADLEY Required Project Work Support - - 109,157 (109,157)
Bradley RPW - Bond Series 11 - -
29,456 (29,456)
Total Transmission Capital Projects 80,459,712 - 119,497 1,774,925 (1,774,925) 78,565,290
GRIP 3 Round 1 Required Project Work Bond Series 11 Funded
Projects - HVDC Line Total Funding Project Budget Encumbered Total Actual Costs
(Over) / Under
Project Budget
(Over) / Under
Total Funding
Allocate from BESS AEA Resolution 24-12 30,000,000 - - 30,000,000
Allocate from Transmission AEA Resolution 24-02 20,000,000 - -
20,000,000
Total Grip 3 Round 1 Capital Projects 50,000,000 50,000,000 - - 50,000,000 50,000,000
Total Required Project Work 154,553,403 50,075,000 141,970 1,775,883 48,299,117 152,635,550
50,000,000 50,000,000
ALASKA ENERGY AUTHORITY
BRADLEY LAKE HYDROELECTRIC PROJECT
Capital Projects Funded by Bond Proceeds
Appendix A
12/31/24
78,565,290 80,459,712
Page 13 of 13
Bradley Operation and Dispatch Committee Report
February 2025
Meeting Dates:
January 10, 2025, and February 5, 2025
Notable Discussions and Items:
FY2026 Budget
HEA input was reviewed and approved for inclusion with the AEA and CEA portion
of the budget which was not reviewed by O&D.
Dam Raise considerations:
Individual utilities continue to evaluate their recommendations, most utilities have
provided the requested input.
Water Tracking & Lake Level:
As of Jan 1st, Bradley Lake contained approximately 168,619 MWh of energy. Lake
level is currently above average with inflows and reduced usage due to the scheduled
tie outage.
Committee Assignments:
□ CEA continues work to address SCADA challenges to allow HEA wheeling capacity as
defined in the existing Bradley agreement.
□ BPMC approved - CEA & HEA investigating appropriate relay settings - $15k spend limit.
• HEA and CEA working on the development of work scope for best practice analysis.
Next Meeting:
March 14, 2025 @ 10am