GVEA holds 70th annual members meeting
Last night was the 70th annual GVEA members meeting at the Hering Auditorium, and there was a pretty large turnout.
A few key points that were touched on were the right of way clearing, an increase in margins and equities, and a request to the RCA to increase the customer share portion of billing by $5.
President and CEO, Cory Borgeson, said it's currently taking about 10 years to cycle through clearing all the rights of way, but they are hopeful about reducing that to seven years per cycle.
Chairman Rick Schikora reported that margins increased in 2016, which indicated strong financial performance; he added that equity increased from 23% to 27%.
Schikora went on to say they continue to reduce operating costs, and distributed more than $6 million in capital credits last year.
While GVEA has requested the $5 increase, Borgeson says that by converting to at least 3 LED bulbs, members can offset the rise in their bill.
"We've asked for a $3 million revenue reduction from the Regulatory Commission of Alaska, so generally our rates are going to go down, but we've also changed our rate structure a little bit where we are asking our members who are residential folks to pay a $22.50 customer charge, which is the charge you pay to be hooked up to Golden Valley. If you convert three incandescent 60 watt bulbs to 3 LED, you will save $5 a month. So everyone should do that whether they are worried about the $5 or not; everyone should try to conserve as much energy as possible."