02/27/2024 | Press release | Distributed by Public on 02/28/2024 01:32
GVEA BOARD VOTES TO MODIFY STRATEGIC GENERATION PLAN
February 27, 2024 - Golden Valley Electric Association's (GVEA) board of directors voted unanimously during Tuesday's regularly scheduled board meeting to modify the Strategic Generation Plan (SGP), previously adopted in June 2022. The modification reflects the reality that circumstances and conditions have changed nationally and along the Railbelt since the board first adopted the SGP. These changes include the availability of federal grant funding opportunities and the unavailability of reliable, lower cost alternative energy sources with which to replace the generation output from Healy Unit 2 in the near term.
The SGP as modified reads as follows:
GVEA's SGP, as modified, is intentionally open-ended. The plan ensures that as circumstances and conditions continue to change, GVEA has the flexibility to pursue all options and alternatives that are in the best interest of GVEA's members in terms of lowering rates, increasing reliability and reducing emissions - both in the short and long-term. The March 1 increase in GVEA's cost of power underscores the necessity that GVEA continue to aggressively pursue, and secure lower cost reliable energy to replace underperforming generation units and reduce GVEA's reliance on higher cost generation.