New plan to resurrect power plant pitched

Jul 15, 2013 -- 8:00am
- ANCHORAGE, Alaska (AP) - A developer is trying to resurrect a long-defunct power plant in Anchorage's Ship Creek. Architects brought in by the city consider the idea for the Knik Arm Power Plant to be cutting-edge for not just electricity but he to be distributed as steam to local businesses. Plant owner Randy Hobbs has found an interested investor, DCO Energy, a New Jersey company that has sent representatives to Anchorage for meetings. The Anchorage Daily News reports that city officials, however, say they're not yet sold on the project. Municipal Light and Power's general manager Jim Posey says he cannot buy power unless the price is cheaper than the utilities current production costs. Hobbs says he would like to have a deal within the next month.

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