HEA needs flexibility for future growth

Posted: Friday, September 17, 2004

I would like to urge members of Homer Electric Association to vote yes on Proposition 1, which will increase the borrowing limit of the cooperative.

As a business person, I understand the importance of being able to secure long-term financing and adequately plan for future growth.

What I am especially concerned about is Homer Electric's ability to build its own generation plant.

This cannot be accomplished under the current borrowing limit. If it's determined at some point that HEA would be better served by generating its own power, rather than purchasing it from Chugach Electric, I want to be sure the cooperative has the financial ability to pursue that option.

As more and more natural gas wells become productive on the Kenai Peninsula, and with the strong possibility of North Slope gas being available in the area, it would be a wise investment to use some of that gas for our own power generation needs.

Bob Favretto, Kenai



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