Voters authorized the Municipality of Anchorage (MOA) to sell ML&P to Chugach in the April 3, 2018 election with a vote of 65 percent in favor of the sale. Chugach and the MOA negotiated final sales agreements and associated documents which were approved by the Chugach Board of Directors subject to certain conditions being met. Following those negotiations, the sale of ML&P was approved by the Anchorage Assembly on Dec. 4, 2018. The Chugach Board of Directors gave its final approval on December 19, 2018.
Chugach and the MOA will submit a request to the Regulatory Commission of Alaska in first quarter 2019 for approval of the transaction. The RCA has six months to approve aspects of the final deal including cost recovery by Chugach and amendments to Chugach’s and ML&P’s certificates of public convenience and necessity.