Alaska Statutes 42.45.100 – Power cost equalization and rural electric capitalization fund

(a) The power cost equalization and rural electric capitalization fund is established as a separate fund for the purpose of

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Terms Used In Alaska Statutes 42.45.100

authority: means the Alaska Energy Authority. See Alaska Statutes 42.45.990
power: includes electrical energy generated, distributed, bought, or sold for lighting, heating, power, and every other useful purpose. See Alaska Statutes 42.45.990
state: means the State of Alaska unless applied to the different parts of the United States and in the latter case it includes the District of Columbia and the territories. See Alaska Statutes 01.10.060

(1) equalizing power cost per kilowatt-hour statewide at a cost close to or equal to the mean of the cost per kilowatt-hour in Anchorage, Fairbanks, and Juneau by paying money from the fund to eligible electric utilities in the state; and

(2) making grants to eligible utilities under Alaska Stat. § 42.45.180 to improve the performance of the utility.

(b) The fund shall be administered by the authority as a fund distinct from the other funds of the authority. The fund is composed of

(1) money appropriated to provide power cost equalization to eligible electric utilities and to provide grants for utility improvements;

(2) money appropriated from the National Petroleum Reserve – Alaska special revenue fund under Alaska Stat. § 37.05.530(g);

(3) money appropriated from the power cost equalization endowment fund (Alaska Stat. § 42.45.070) under Alaska Stat. § 42.45.085(a);

(4) gifts, bequests, contributions from other sources, and federal money; and

(5) interest earned on the fund balance.

(c) The fund is not a dedicated fund.

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