0:50
Bert Stedman
38:27 - 39:17
"I'd recommend that you put put in reopeners not to pierce the ceiling of 16% plus 2%, but to pierce the floor and go down. They don't have a project without you. And I would recommend to my rail belt colleagues that they encourage you to have reopeners so if there ever is an opportunity to move the price of energy down, You can exercise that if it's every 5 years, every 10 years, or some form."
“I'd recommend that you put put in reopeners not to pierce the ceiling of 16% plus 2%, but to pierce the floor and go down. They don't have a project without you. And I would recommend to my rail belt colleagues that they encourage you to have reopeners so if there ever is an opportunity to move the price of energy down, You can exercise that if it's every 5 years, every 10 years, or some form.”
- Speaker
- Bert Stedman
- Timestamp
- 38:27 – 39:17
- Community
- Alaska News
- Location
- Alaska
- Captured at
- June 9, 2026
From the transcript
And so we need to ensure that we have flexibility for a variety of different situations because, again, ultimately, it's our customers that are going to be burdened with the cost and we want to make sure that we have the best contract we can on their behalf. I'd recommend that you put put in reopeners not to pierce the ceiling of 16% plus 2%, but to pierce the floor and go down. They don't have a project without you. And I would recommend to my rail belt colleagues that they encourage you to have reopeners so if there ever is an opportunity to move the price of energy down, You can exercise that if it's every 5 years, every 10 years, or some form. We made the mistake years ago, several decades ago, Mr. Chairman, of not having reopeners on our royalties.
Related Coverage
ENSTAR Caps the Price. Stedman Eyes the Debt.
Enstar is negotiating a 30-year gas supply agreement with Glenfarne that would cap prices at $16 per thousand cubic feet with annual inflation adjustments. The contract protects ratepayers from project cost overruns and allows a switch from LNG imports to pipeline gas if the export project is built.
by Walter AlaskaNews3h ago3 min readAIAlaska
