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Committee approves $5M for Susitna‑Watana hydroelectric study amid debate over scale and timing
Summary
The House Finance Committee adopted an amendment to provide $5 million (UGF waterfall provision) to the Alaska Energy Authority for studies on the Susitna‑Watana hydroelectric project and to identify potential federal incentives, advancing a long‑running proposal to the next stage.
Representative Bynum moved and the committee approved a $5 million appropriation to the Alaska Energy Authority to fund economic, engineering and permitting work for the Susitna‑Watana hydroelectric project and to identify federal incentives that could reduce state costs.
Bynum told colleagues the funding would let AEA update permitting status, evaluate investor interest and identify eligibility for federal programs including the Investment Tax Credit. "This could be on the tune of 4 plus billion dollars of federal investment into this project," Bynum said, arguing the work would let the legislature assess feasibility and federal matches.
Opponents expressed reservations about timing and the adequacy of a $5 million commitment. Representative Josephson cautioned that the project has been on and off the state’s priority list for decades and noted prior investments; several members said they wanted more detail from AEA on how the funds would be used. The amendment passed on the committee floor and was incorporated into the committee substitute that the panel later reported out.
Next steps: Legislative staff will process the amendment language into the committee substitute; AEA would be expected to produce study deliverables if the appropriation is enacted by the full legislature.
