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.”
- Speaker
- Adam Prestidge
- Timestamp
- 103:35 – 104:30
- Community
- Alaska News
- Location
- Alaska
- Captured at
From the transcript
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.
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