Alaska Energy Authority Bradley Lake Expansion Project Industry Day

The October 2026 CEO report for Homer Electric Association (HEA) outlines a period of stable operations and strategic planning. HEA reported August operating revenue of $11 million with an operating margin of $0.6 million, while year-to-date margins reached $1.6 million, exceeding budget by $0.5 million. A Cost of Power Adjustment (COPA) increase took effect on October 1, raising the rate to 11.76 cents per kilowatt-hour, which adds approximately $7.92 to the average residential monthly bill. Operational highlights include successful vegetation management, with tree-related outages dropping to 221 through September 2026, compared to 335 in the same period in 2025. The utility is preparing for significant maintenance at the Bradley Lake Hydroelectric Project and the Nikiski Combined Cycle plant, while managing water resources for future islanding events in 2027. The CEO also noted the signing of the federal Hydropower Licensing Transparency Act (H.R. 3657) on September 25, which mandates increased reporting on hydropower licensing timelines. During the October 13, 2026, board meeting, directors approved several policy updates, including revisions to policies regarding capital credits, meeting attendance, and general manager succession. The board also reviewed the 2027-2029 Strategic Plan, which is slated for potential approval in the coming weeks.