The Wyoming Public Service Commission has approved Rocky Mountain Power (RMP) to sell the St. Anthony hydroelectric generation plant located in Freemont County, Idaho.
On April 8, RMP filed an application requesting to discontinue its operations associated with and sell the St. Anthony hydro plant located within the city limits of St. Anthony, Idaho. The plant consists of a one-unit powerhouse. The St. Anthony turbine and generator were commissioned in 1915.
RMP stated that while the heads of the plant continue to meet the company’s obligation to deliver water to Egin Bench Canals Inc., the generator had not operated for power generation purposes since a failure in 2002. RMP determined that a sale of the plant would represent a lower cost and better cost/risk option than investing in or decommissioning the plant.
RMP issued a request for proposals (RFP) to solicit offers from the market and received numerous responses from interested parties. Based on the bids the sale alternative will result in a sale below remaining book value of the facility. The transaction proposed for approval by RMP has minimal contingencies and includes a requirement that RMP enter into a power purchase agreement at avoided cost rates.
RMP said the discontinuation of the plant’s approximate 0.625-MW generation capacity have any material effect on RMP’s generation capacity. Further the company stated it believed the buyer is financially able and intends to operate and maintain the plant in the public interest.
RMP’s application identified the purchaser as St. Anthony Hydro LLC. The application included financial information on Ted and Gail Sorenson, the principal members of that company, but did not include the financial condition of the company. The Aug. 12 PSC approval order said that RMP needs to file additional support demonstrating the financial condition of St. Anthony Hydro LLC.