SEAPA Board approves wholesale rate increase

The Southeast Alaska Power Agency Board approved a wholesale rate increase at its Dec. 8 meeting, raising the price to 7.3 cents per kilowatt hour-a 0.25 cent increase-beginning in January 2023.

According to Vice Mayor Bob Lynn and Utility Director Karl Hagerman, who reported on the SEAPA Board meeting at last week's Petersburg Borough Assembly meeting, the decision to raise rates followed a review of a rate study completed this year.

A draft of the rate study, which was presented at the last board meeting, detailed why after decades of rate stability additional revenue is needed to cover the...