Leaders reiterated Friday that there will be no layoffs with the voter-approved sale of Municipal Light and Power to Chugach electric. ML&P employs around 245 people, while about 290 people work for Chugach.

"If you're laying off people and you're reducing jobs that really goes against what the whole benefit is on our overall community," said Chugach Board Chair Bettina Chastain.

Chugach, ML&P and Anchorage officials met Friday as the Municipality of Anchorage released proposed terms of the sale.

"You can hear from certain individuals that are apprehensive about belonging to a new organization and changing jobs. But we made a promise that we would keep people whole. And that they would come over to the new organization at comparable compensation and benefits," said Chastain.

ML&P has around 31,000 residential and commercial customers, while Chugach has 68,000 customers. Leaders also made a point to mention that the sale won't raise the base rate of those customers.

"We're going to have affordable available power for a long period of time. You're going to have a management structure that is more capable of dealing with some of the technological changes that are occurring in the utility industry. You're going to have less administration. And through attrition over time there's going to lower cost. Ultimately that's going to go to the benefit of ratepayers," said Anchorage Mayor Ethan Berkowitz.

The sale is expected to close sometime in late to mid-2019. The Anchorage Assembly and the Regulatory Commission of Alaska must approve the sale. A number of public hearings and public Anchorage Assembly work sessions are planned for October, November and December.

Terms of sale can be found below.

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