GVEA's mission is to provide its member-owners with quality electric service, quality customer service and innovative energy solutions at fair and reasonable prices.
History
Incorporated in 1946 in Fairbanks, Alaska, Golden Valley Electric Association took shape when a small group of locals became interested in bringing electric service to rural areas and furthering the agricultural industry in Interior Alaska. These pioneers applied to the Rural Electrification Administration, which granted a loan to form a not-for-profit rural electric cooperative. GVEA now serves nearly 100,000 Interior residents in Fairbanks, Delta Junction, Nenana, Healy and Cantwell. (Photo right: The 9.500Kw Fairbanks Exploration Co. (F.E.) power plant was built in 1927 to serve the gold dredges operating in the Tanana Valley. GVEA purchased power from the F.E. Company until 1952, when they purchased the plant. It was retired in March 1972.)
Alaska Intertie
GVEA energized the Northern Intertie in October 2003. This 97-mile, 230-kilovolt line is one of GVEA’s initiatives to improve system reliability. GVEA is the northern control point for the Anchorage to Fairbanks Intertie, which serves most Railbelt communities. Both interties allow GVEA to augment our 296 MW generation capacity with an additional 70 MW from the Anchorage area.
Renewable Power
In addition to our diverse fuel supply of coal, oil, natural gas and hydroelectric power, GVEA is adding more renewable power. GVEA launched SNAP, its renewable energy program in 2005.
Reliability
Golden Valley’s Battery Energy Storage System project came online in November 2003. The BESS can provide 27 megawatts for 15 minutes or up to 40 MW for less time if necessary. Being able to produce 40 MW makes the BESS the most powerful battery energy storage system in the world in terms of MW output. In 2009, the BESS responded to 21 events, preventing 113,000 member outages. System reliability was 99.9% in 2009. On average, members experienced one hour without power.
Power Sources
To help stabilize costs, Golden Valley maintains a diverse fuel mix of oil, coal, natural gas and hydroelectric. The North Pole Expansion Plant adds Naphtha, an extremely clean burning fuel, to our mix. If natural gas comes to the Interior, the new plant will have the ability to burn that, as well.
