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 filed a request to the Regulatory Commission of Alaska (RCA) on April 1, 2019 for approval of the acquisition. The RCA is asked to approve aspects of the final transaction including cost recovery by Chugach and amendments to Chugach’s and MLP’s certificates of public convenience and necessity. Hearings were held in the fall of 2019, and the RCA approved the acquisition with conditions on May 28, 2020. Closing of the transaction is expected in late October 2020.