Chelan County PUD & Alcoa Agree

Chelan County PUD commissioners agreed Thursday to move ahead with signing the agreements with Alcoa. They're needed to reassign the current power contracts for its Wenatchee smelter, to a new entity before the corporation splits in two Nov. first. The vote came after Chief Financial/Risk Officer Kelly Boyd provided a brief update on work done since Monday. That's when commissioners received a full briefing on potential assignment terms and other conditions involved in moving the power contracts from Alcoa to the new Alcoa Corporation. The additional credit assurances provided in the new agreements leaves the District neutral to positive, compared against current conditions.