Alaska’s Largest Hydroelectric Project
The Bradley Lake Hydroelectric Project was energized in September 1991 after 5 years of construction and 36 years after the U.S. Army Corps of Engineers first investigated the possibility of a hydroelectric project in the area.
Golden Valley Electric Association (GVEA) receives 16.9% of the power generated, which is 20 megawatts. Due to transmission line constraints, GVEA is able to use up to 15 megawatts of energy generated from Bradley Lake at a time. This energy is transmitted via the Intertie. The power, both environmentally clean and economical, is 4.6 cents per kilowatt-hour. With transmission charges and losses, this energy is delivered to Fairbanks at 6.89 centers per kilowatt-hour. This lower-cost power helps to offset higher cost generation during peak load times.
Construction of the major facilities cost $312 million. Financing costs brought the total to $328 million, still $43 million below the original cost estimates. The state of Alaska funded $175 million directly and the 5 participants financed the balance through bonds.
Original Project Participants
- City of Seward
- Chugach Electric Association
- Golden Valley Electric Association
- Homer Electric Association
- Municipal Light & Power (now part of Chugach Electric)
- Matanuska Electric Associations