PUD Alcoa Deal

Chelan PUD should be in the same to perhaps better position once it's power contract with Alcoa is reassigned. Commissioners got that assessment Monday from Kelly Boyd, PUD Chief Finance and Risk officer, as the agreement with Alcoa is addressed before a November 1st deadline when the aluminum giant splits into two corporations. Boyd assured commissioners that under the reassigned agreement, all PUD-contracted power must remain for use only at Wenatchee Works and may not be used at other Alcoa facilities and existing incentives to support re-start at Wenatchee Works will remain in place. Among other stipulations, the agreement would include a new $40 million letter of credit and it extends credit assurances for the PUD. Commissioners will consider approval at a special meeting 1pm Thursday. The contracts are posted on the PUD's website ChelanPud.org