The proposal of state oversight could be the last big change to the ever-evolving proposal, nicknamed GRETC (the Greater Railbelt Energy and Transmission Co.) and pitched as a big step toward financing billions of dollars' worth of needed power plants and major distribution lines in the coming decades.
Rep. Charisse Millett, R-Anchorage, said she expects to hold a hearing on the plan this week at her House energy committee. The six utilities, including Golden Valley Electric Association, met Wednesday to clean up the plan's final version, which now has roughly six weeks to find favor with the Legislature.
Oversight by the Regulatory Commission would last at least five years under the plan, she said. After that, the Legislature would need to extend the provision. The utilities could thus view those first five years as a chance to prove regulation of the corporation's wholesale prices isn't needed.
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