SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15 (d) of the Securities Act of 1934
Date of Report (Date of earliest event reported) January 22, 2020 (January 17, 2020)
CHUGACH ELECTRIC ASSOCIATION, INC.
(Exact name of registrant as specified in its charter)
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Alaska | 33-42125 | 92-0014224 |
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
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5601 Electron Drive, Anchorage, AK | 99518 |
(Address of Principal’s Executive Offices) | (Zip Code) |
Registrant’s telephone number, including area code: (907) 563-7494 |
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
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Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
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Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in [sic] Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Section 1 – Registrant’s Business and Operations
Item 1.01 Entry into a Material Definitive Agreement
On January 17, 2020, Chugach Electric Association, Inc. (“Chugach”) submitted the Fourth Amendment to the Gas Sale and Purchase Agreement (“Fourth Amendment”) between Chugach and Hilcorp Alaska, LLC (“Hilcorp”) to the Regulatory Commission of Alaska (“RCA”). The Fourth Amendment extends the term of the existing Gas Sale and Purchase Agreement from March 31, 2023 to March 31, 2028, reduces the Third Amendment gas prices over the April 1, 2020 through March 31, 2023 period, and includes call option provisions that provide Chugach with extensive flexibility in the overall management of its gas supply requirements. Chugach expects that the RCA will issue a decision in March 2020, assuming no delay in the process.
Item 9.01 – Financial Statements and Exhibits
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Exhibit No. |
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SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
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Date: January 22, 2020 |
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| CHUGACH ELECTRIC ASSOCIATION, INC. | |
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| By: | /s/ Lee D. Thibert | |
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| Lee D. Thibert | |
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| Chief Executive Officer |