
Adam Prestidge
103:35 - 104:30
"we've made a commitment and we've been supportive of language that was added to the legislation to ensure that ratepayers do not bear the risk of cost overruns. That means that if there is a risk that the project is over budget, frankly, we, Glenfarm, and our investors, we're going to wear that risk."
“we've made a commitment and we've been supportive of language that was added to the legislation to ensure that ratepayers do not bear the risk of cost overruns. That means that if there is a risk that the project is over budget, frankly, we, Glenfarm, and our investors, we're going to wear that risk.”
However, it underscores two things: our commitment to make sure that we are protective of the ratepayers and our belief that we can do this project and we can do it economically within that price cap. Lastly, in a similar measure, we've made a commitment and we've been supportive of language that was added to the legislation to ensure that ratepayers do not bear the risk of cost overruns. That means that if there is a risk that the project is over budget, frankly, we, Glenfarm, and our investors, we're going to wear that risk. And we are willing to do that because we're confident in the fundamentals of the project, we're confident confident in the engineering work that's been done. We're confident in the work and the structuring that we've done with the contractors that want to build it, and we think that this project can get done on schedule and on budget, and that's why we're willing to make that kind of a commitment to take the risk of cost overruns on ourselves.
Hilcorp senior vice president Luke Sargey told the Alaska Gas Line Caucus on Thursday that the company opposes a targeted income tax on Hilcorp, not the gas line, while Glenfarne and business groups urged lawmakers to pass the property tax bill without added taxes.

Enstar president John Sims told the Alaska Gas Line Caucus on Thursday the utility could be 3 billion cubic feet short this winter, equal to 18 midwinter days serving no customers. MEA's Tony Izzo said his gas is contracted for only 2 years and 7 months.
