Bradley Lake Hydroelectric Project
The Bradley Lake Hydroelectric Project was energized September 1991 after five years of construction and 36 years after the U.S. Army Corps of Engineers first investigated the possibility of a hydroelectric project in the area.
GVEA receives 16.9% of the power generated, which is 20 megawatts. Due to transmission line constraints, GVEA is able to use to to 15 megawatts of energy generated from Bradley Lake at a time. This energy is transmitted via the Intertie. The power, both environmentally clean and economical, is 4.6 cents per kilowatt-hour. With transmission charges and losses this energy is delivered to Fairbanks at 6.89 centers per kilowatt-hour. This lower-cost power helps to offset higher cost generation during peak load times.
FinancingConstruction of the major facilities cost $312 million. Financing costs brought the total to $328 million, still $43 million below the original cost estimates. The state of Alaska funded $175 million directly and the five participants financed the balance through bonds.
Alaska’s Largest Hydroelectric Project
Original Project Participants
- City of Seward
- Chugach Electric Association
- Golden Valley Electric Association
- Homer Electric Association
- Municipal Light & Power (now part of Chugach Electric)
- Matanuska Electric Associations