-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, EntVnE+OAB/mfqN8NesVsaWYCm7iHH2HTP01yTKIjJirfUI0eodXHGhB5JHk5YJ1 n4sadClsZeOgN5sNiBFyCw== 0001169232-08-000763.txt : 20080214 0001169232-08-000763.hdr.sgml : 20080214 20080214172133 ACCESSION NUMBER: 0001169232-08-000763 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20080208 ITEM INFORMATION: Other Events FILED AS OF DATE: 20080214 DATE AS OF CHANGE: 20080214 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CHUGACH ELECTRIC ASSOCIATION INC CENTRAL INDEX KEY: 0000878004 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 920014224 STATE OF INCORPORATION: AK FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 033-42125 FILM NUMBER: 08619139 BUSINESS ADDRESS: STREET 1: 5601 ELECTRON DR STREET 2: PO BOX 196300 CITY: ANCHORAGE STATE: AK ZIP: 99518 BUSINESS PHONE: 9075637494 MAIL ADDRESS: STREET 1: 5601 ELECTRON DRIVE CITY: ANCHORAGE STATE: AK ZIP: 99518 8-K 1 d73589_8k.txt CURRENT REPORT UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15 (d) of the Securities Act of 1934 Date of Report (Date of earliest event reported) February 8, 2008 CHUGACH ELECTRIC ASSOCIATION, INC. (Exact name of registrant as specified in its charter) Alaska 33-42125 92-0014224 (State or other jurisdiction (Commission File Number) (IRS Employer of incorporation) Identification No.) 5601 Electron Drive, Anchorage, Alaska 99518 (Address of Principal's Executive Offices) (Zip Code) Registrant's telephone number, including area code: (907) 563-7494 (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: [_] Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [_] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [_] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [_] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Section 8 - Other Events Item 8.01 Other Events. On February 8, 2008, the Municipality of Anchorage (ML&P) and Chugach Electric Association, Inc. (CEA) issued a mutual press release announcing that a panel, appointed to consider the possible merger of Southcentral Alaska's two largest utilities, is recommending the utilities explore joint generation and operations between the two, which a consultant's report says could save ratepayers nearly $200 million. The panel is chaired by Mayor Mark Begich and Chugach Board Chair Elizabeth Vazquez. After reviewing a draft report issued by national utilities expert Ron Nichols of Navigant Consulting, Inc., and considering the public testimony that was provided at the public hearing, the panel adopted a motion recommending the management of CEA and ML&P seek ways to implement the savings identified by the Navigant study and report back on their progress within 60 days. The original motion stated, "That the management of CEA and ML&P immediately enter into discussions to merge, or otherwise combine, the generation and operations of the two companies in an enterprise or enterprises that would create substantial savings over operating the companies separately an in such fashion that both managements support as practical and beneficial to their customers and owners and report their findings back this panel within 60 days." The amendment to the motion stated, "That this panel further ask the management of CEA and ML&P to plan to capture the savings contemplated in the Navigant study from cooperation on generation and that they do this in such a fashion that solicits participation and cooperation from other Railbelt utilities. This request is not meant to be used to delay a generation cooperation plan by requiring broader participation but, to ensure that the plan will provide for such action when and if it can happen." A copy of the press release is attached as Exhibit 99.1. SIGNATURES Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Date: February 13, 2008 CHUGACH ELECTRIC ASSOCIATION, INC. By: /s/ Bradley W. Evans --------------------------------------- Bradley W. Evans Acting Chief Executive Officer EX-99.1 2 d73589_ex99-1.txt PRESS RELEASE Exhibit 99.1 Municipality of [GRAPHIC OMITTED] P.O. Box 196650 Anchorage Anchorage, Alaska 99519-6650 Telephone: (907) 343-4431 Fax: (907) 343-4499 Email : www.muni.org Mark Begich, Mayor FOR IMMEDIATE RELEASE Contact: Leslie Ridle, Feb. 8, 2008 343-7103 2008-13 ELECTRIC UTILITIES TO CONSIDER JOINT OPERATIONS Up to $200 Million in Efficiency Savings is Goal of 60-Day Review A panel appointed to consider the possible merger of Southcentral Alaska's two largest utilities is recommending the utilities explore joint generation and operations between the two, which a consultant's report says could save ratepayers nearly $200 million. The recommendation came Thursday evening during a meeting of the Municipal Light and Power/Chugach Electric Association Merger Study Advisory Panel, a seven-member group formed to consider joint generation and operations between the two utilities. The panel is chaired by Mayor Mark Begich and Chugach Board Chair Elizabeth Vazquez. After reviewing a draft report issued by national utilities expert Ron Nichols of Navigant Consulting, Inc., and considering the public testimony that was provided at the public hearing, the panel adopted a motion recommending the management of Chugach and ML&P seek ways to implement the savings identified by the Navigant study and report back on their progress within 60 days. "After 20 years and numerous efforts to make Southcentral's utilities more efficient, this is a real breakthrough which could save ratepayers some serious money," said Mayor Begich. "I have directed ML&P to fully cooperate in discussions with Chugach to look at every possible avenue of efficiencies." "The Chugach Board firmly believes that it has the obligation to deliver more value to our ratepayer members. As such, we have been ready to pursue joint generation and joint operations with ML&P and other utilities. This follows the recommendation of the Blue Ribbon Panel to achieve more cost savings for our ratepayer members" said Chugach Board Chair Vazquez. "We are delighted the Panel has decided to proceed in this manner and are optimistic that we can achieve savings for our ratepayers." -MORE- Utility merger release 2-2-2-2 2/8/08 Navigant delivered its Draft Phase I report to the Panel in November 2007. Since then, the public provided the panel a wide range of comments at a public hearing in late November. Navigant's report identified potential savings of almost $200 million as possible through either a merger of the utilities or by jointly working together in areas such as construction of future generating capacity and consolidation of utility functions that are presently duplicated at each utility. A copy of the motion adopted by the Panel can be seen on the Municipality's website at http://www.muni.org/Mayor/mlpcea.cfm. ### -----END PRIVACY-ENHANCED MESSAGE-----