AEEC Board of Directors
|# of Directors||Term||Voting Districts||Meeting Days|
|9||3-Years||3||2nd Tuesdays in Feb., May, June, Aug., Nov.|
Alaska Electric & Energy Cooperative, Inc. (AEEC) is a subsidiary of Homer Electric Association, Inc. and was formed on August 6, 2001. Under its certificate of public convenience and necessity from the RCA, AEEC is responsible for providing all the power requirements for HEA. Until December 31, 2013, the bulk of the power was being provided to AEEC by Chugach and re-sold to HEA at cost. AEEC holds title to substantially all the substations and all transmission lines used to deliver power to HEA members. In addition, AEEC is the purchaser of the Bradley Lake share of power dedicated to HEA and owns the Nikiski generation facility.
Governance of AEEC
AEEC is structured as an electric cooperative that has only one member – HEA. Its nine member Board of Directors is elected at an annual meeting by the voting delegate appointed by the HEA board. Historically, the members of the HEA board have constituted the AEEC board. The HEA general manager is also the general manager for AEEC.
Operation of AEEC
AEEC has no employees. All AEEC operations are conducted under the terms of a management agreement whereby HEA provides, at cost, all required services for AEEC.
Under the wholesale power agreement between HEA and AEEC, HEA pays the actual costs incurred by AEEC for delivering power to HEA, plus cash roughly equal to 105% of AEEC’s annual debt service (principal and interest). The resulting margin is allocated to HEA as patronage capital. For rate-making and other regulatory purposes the RCA treats HEA and AEEC as a single entity.
Click on the links above to view all meeting minutes, located on the bottom of the Meeting Information Page.