Important Message Regarding PCE Funding | Update
The Power Cost Equalization (PCE) credit line item on your electric bill comes from a subsidy program funded by the Alaska Energy Authority to reduce the electric bills of residential customers living in rural communities.
As you may know, the legislature recently failed to achieve the required supermajority vote to prevent the Power Cost Equalization (PCE) Endowment Fund from being swept into the state’s Constitutional Budget Reserve (CBR) which resulted in no PCE credit on the July billing statements.
The Governor signed legislation on August 8, 2019 that restores funding to the state’s rural power subsidy program which means you will once again receive the PCE credit beginning on your August statement.
AP&T will be seeking approval from the Alaska Energy Authority (AEA) to apply the July PCE credit to customer accounts. The AEA approval and calculation of individual account credit amounts for July may take a few months and once completed, customer accounts will be credited accordingly.