Intertie Participants Group votes to extend Southern Intertie Decision Date to 11/21/03 

HOMER GIVES FINAL NOTICE; SEWARD, MEA EXPECTED TO CONFIRM FINAL PULL OUT TONIGHT 
CHUGACH ELECTRIC CANCELS SPECIAL BOARD MEETING - Will continue to maneuver with ML&P to keep control of the $$$

      Affected utility's own evaluation and recommendations as of 7/9/03
Electric Utility

%

 Chugach claim
6/5/03 analysis  		 Action Comments
Matanuska 14.2% $4 million net benefit Pull out! $ multi-million loss for MEA
Seward 1.4% $6 million net benefit Pull out! $ no benefits for SES
Homer 11.6% $11 million net benefit Pulled out! $ no benefits for HEA
Golden Valley  20.1% $15 million net loss ??  
Anchorage ML&P 22.4% $10 million net loss ?? Deputy Municipal Manager says no intention to build the Southern Intertie
Chugach 30.2% $1 million net loss ??  

Vote on extending "decision date":   YES - Chugach, ML&P, Golden Valley, Seward ;  NO - Matanuska, Homer

ISSUE:  "Was the extension of the decision date legal?"   MEA says NO; Chugach says YES.  What happens to the utilities that withdraw later if the date extension is adjudged later to be without effect?  Are they stuck IN the project? 

Reasons given for the extension:  "Give us time to adjust to the state taking the interest money and other issues" ; "Firm up the cost estimate" ; "Firm up the Integrated Resource Plan (IRP)".    SO...ARE THEY STILL TRYING TO BUILD THE SOUTHERN INTERTIE OR NOT!!

ATTEMPT BY GVEA TO KICK CHUGACH CONSUMERS OUT OF THE MEETING FAILS.  Vote on going into executive session to exclude Ray Kreig:  YES - Golden Valley, ML&P ;  NO - Chugach, Matanuska, Homer ; ABSENT - Seward