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2009 Annual Report
2009 Annual Report - PDF (1.2MB)
A Message from the President & CEO
"Forward"
 GVEA President & CEO Brian Newton
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One might say the only way to move is Forward. I assert it’s not the only way, but it’s the best way. Forward then is more than a direction. It is a perspective – one that is active and innovative. And those are two elements we’ve dedicated our efforts to throughout 2009.
We worked actively to Kick the Oil Habit by encouraging members to conserve energy at home and work. And it appears to be working. Consumption is lower across the board – from residential to small commercial to industrial members.
We practice what we preach as well. We reduced our consumption and we continue to look at ways to use less, too.
Our largest reduction in consumption resulted from the Waste Heat Recovery Project at our North Pole facilities. We took waste heat from the new power plant and piped it into the older plant to heat the building. This effort saved enough electricity to power 96 average Interior households for a year. Even better – grants covered 80 percent of the project costs.
While we took these actions to reduce our electrical usage, we moved Forward with innovative solutions to reduce our dependence on oil for power generation.
In December 2009, Golden Valley completed a partial closing with Alaska Industrial Development and Export Authority for the purchase of the Healy Clean Coal Plant. We expect to take possession of the plant in 2010 following approval from the Regulatory Commission of Alaska. When we’re able to start up this plant, it will displace 50 megawatts of oil-fired generation with a less expensive and much more stable fuel source.
We also reached an agreement with the Alaska Gasline Port Authority to supply us with liquefied natural gas. We built our North Pole Expansion Power Plant with natural gas in mind. We can convert the plant from an oil-fired unit to natural gas in just a few months. However, it will take longer to construct gas processing facilities on the North Slope and off-loading, storage and regasification facilities in North Pole. This project will save GVEA approximately $1 million per month, which translates into a six percent reduction for the average residential member. The project is also a bridge until a natural gas pipeline is built down the road. It is a major step Forward in helping us Kick the Oil Habit.
We couldn’t honestly claim we’re moving Forward if we didn’t consider renewable energy in our future. Golden Valley’s SNAP renewable energy producers pumped out enough solar and wind energy to power nearly 15 average Interior residences for a year. This is a good start while we actively pursue funding for a 24-megawatt wind farm near Eva Creek. At a cost of nearly $95 million, we’re researching grant opportunities to lessen the financial burden to our ratepayers.
So then Forward we go – with purposeful action and innovation, and our members’ best interests at the heart of every effort.
