The city’s all-volunteer Electric Utility Advisory Board is taking on the Herculean task of coming up with a value for the city’s 99-year-old electric system and determining what would be required to sell it.
The valuation process will require the seven-member board to consider the many ramifications of selling the city-owned electric utility — including the value of the power plant and transmission grid, pension obligations, transfer costs, impacts on customers, the reliability of the buyer’s system and debt, City Manager Michael Bornstein said. He called it mandatory homework for a city pondering the sale of its electric power system.
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