Related topics

Juneau utility’s new owners say company not for sale

August 23, 2017 GMT

JUNEAU, Alaska (AP) — The company buying Alaska Electric Light & Power Company’s parent corporation said in a letter it is not interested in selling Juneau’s electric utility any time soon.

Hydro One CEO Mayo Schmidt wrote a letter to the City and Borough of Juneau, saying the company had no plans of selling any of its new assets or subsidiaries, and that Hydro One supports Alaska Electric Light & Power’s “vision of bringing safe, reliable, affordable power to Juneau.”

The company declined further comment.


The Aug. 14 letter was in response to a letter written by the city to the Toronto-based power company last month urging the company to meet with representatives of Juneau Hydropower.

Juneau Hydropower is interested in buying Alaska Electric Light & Power Company, reported ( ).

Keith Comstock of Juneau Hydropower said he was not surprised by Hydro One’s answer. Local investors will continue to pursue the goal of eventually returning AEL&P to local ownership, Comstock said.

“We believe that local ownership in any form is in Juneau’s long-term, strategic interest and that it’s a goal worth pursuing vigorously,” Comstock said.

Members of the Juneau Assembly are still interested in the prospect of the city owning a stake in the power company.

The Assembly asked the Finance Department Monday for a report looking at the issue and to relay its findings next month.