Chugach Electric Association’s $1 Billion Acquisition Of Anchorage Municipal Light & Power

Stinson LLP advised Chugach Electric Association on the deal.

Chugach Electric Association, an Alaska electric cooperative utility based in Anchorage, Alaska, on October 30, 2020, closed on its $1 billion acquisition of the assets of Anchorage Municipal Light & Power (ML&P). This consolidation is expected to lower long-term electric rates and streamline services to Anchorage area residents and business.

The Regulatory Commission of Alaska conditionally approved the acquisition of ML&P by Chugach Electric in May 2020 after Anchorage voters and the Anchorage Assembly authorized the sale back in 2018. Chugach and the Municipality of Anchorage have been working together since to finalize the transaction and closing process.

The Stinson team on the deal was led by Jim Bertrand (Picture), Tammie Ptacek and Steve Quinlivan with support from industry teams led by Jenny Ahn, David Axtell, David Bengtson, Rob Devolve, Audrey Fenske, Brian Meloy, Dave Parry, Rick Pins, Guy Smith, Bob Striker and Eric Whytsell.

Involved fees earner: Yeun Gi Ahn – Stinson Leonard Street; David Axtell – Stinson Leonard Street; David Bengtson – Stinson Leonard Street; James Bertrand – Stinson Leonard Street; Robert Devolve – Stinson Leonard Street; Audrey Fenske – Stinson Leonard Street; Brian Meloy – Stinson Leonard Street; David Parry – Stinson Leonard Street; Richard Pins – Stinson Leonard Street; Tammie Ptacek – Stinson Leonard Street; Stephen Quinlivan – Stinson Leonard Street; Guy Smith – Stinson Leonard Street; Robert Striker – Stinson Leonard Street; Eric Whytsell – Stinson Leonard Street;

Law Firms: Stinson Leonard Street;

Clients: Chugach Electric Association;

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Author: Ambrogio Visconti