The Southeast Alaska Power Agency (formerly known as The Four Dam Pool Power Agency) is a joint action agency of the State of Alaska created pursuant to Alaska Statutes Section 42.45.300. From 1982-1985, the Cities of Ketchikan, Wrangell, and Petersburg, Copper Valley Electric Association, Inc. and Kodiak Electric Association, Inc. (“Purchasing Utilities”) acquired ownership of the Terror Lake, Solomon Gulch, Lake Tyee, and Swan Lake Hydroelectric Projects from the Alaska Power Authority. (The Alaska Power Authority’s name was changed to the Alaska Energy Authority in 1989.) These four hydroelectric projects were collectively known as the “Four Dam Pool”. Under a Long Term Power Sales Agreement signed in October 1985 (“1985 PSA”), the Purchasing Utilities were authorized to purchase wholesale power from the Four Dam Pool, and a Project Management Committee (“PMC”) was formed to implement the provisions of the 1985 PSA. The 1985 PSA was assigned to the joint action agency formally named The Four Dam Pool Power Agency (FDPPA) under an agreement signed in December 2000. The four hydro projects were purchased by the FDPPA from the Alaska Energy Authority on January 31, 2002 . The sale of the four projects is commonly known as “Divestiture”. On February 24, 2009, the Agency completed a restructuring, whereby the Terror Lake and Solomon Gulch projects were transferred to Kodiak Electric Association and Copper Valley Electric Association, respectively. Effective with this transfer, the name of the Four Dam Pool Power Agency was formally changed to the Southeast Alaska Power Agency (SEAPA).
The member communities (Ketchikan, Wrangell, and Petersburg) and utilities purchase power from the Agency at the same wholesale power rate. Ketchikan Public Utilities, serving the Ketchikan area operates Swan Lake pursuant to an operating and maintenance agreement, and SEAPA operates Tyee Lake.
The current bylaws that govern SEAPA provide for a total of five board members that are selected from each of the communities being served by the projects. Two board members are appointed by Ketchikan, one each from Wrangell and Petersburg, and a fifth board member that rotates annually between each project (Swan Lake and Tyee Lake).
SEAPA is an independent agency of the State with the ability to finance its own projects. This independence was proven during the restructuring, completed in 2009, where SEAPA was able to sell its own bonds, secured by the power sales agreement between SEAPA and Ketchikan, Wrangell, and Petersburg.
A timeline with the full history of the Agency is under construction.