GVEA transitionGVEA will have a new CEO/president real soon - Brian Newton. Steve Haagenson has retired, Chief Finance Officer John Grubich is also moving on to other pastures outside Alaska. The new executive team will have their hands full, as the capital spending binge of the new tie line from Healy to Fairbanks, the biggest battery backup in the world "BESS", and two new oil fired generation units in North Pole have pretty much broke the bank. Our board approved all these expenditures and plan on having management to ask for more rate hikes. Expect these increases to be substantial. The assertion will likely include increased fuel costs, but as far as generation goes, we already pay for those increases through the 'cost of power adjustment" or COPA.
Maybe they are going to look at some internal cost cutting that has thus far been sacrosanct. We might even end up with a less glitzy and less costly annual meeting actually focused on real issues and less P.R. Feel free to contribute ideas and suggestions.