Exhibit 99.1


     Municipality of      [GRAPHIC OMITTED]        P.O. Box 196650
          Anchorage                                Anchorage, Alaska  99519-6650
                                                   Telephone: (907) 343-4431
                                                   Fax: (907) 343-4499
                                                   Email : www.muni.org

                                                   Mark Begich, Mayor

FOR IMMEDIATE RELEASE                          Contact: Leslie Ridle,
Feb. 8, 2008                                       343-7103
2008-13


                 ELECTRIC UTILITIES TO CONSIDER JOINT OPERATIONS
        Up to $200 Million in Efficiency Savings is Goal of 60-Day Review

A panel appointed to consider the possible merger of Southcentral Alaska's two
largest utilities is recommending the utilities explore joint generation and
operations between the two, which a consultant's report says could save
ratepayers nearly $200 million.

The recommendation came Thursday evening during a meeting of the Municipal Light
and Power/Chugach Electric Association Merger Study Advisory Panel, a
seven-member group formed to consider joint generation and operations between
the two utilities. The panel is chaired by Mayor Mark Begich and Chugach Board
Chair Elizabeth Vazquez.

After reviewing a draft report issued by national utilities expert Ron Nichols
of Navigant Consulting, Inc., and considering the public testimony that was
provided at the public hearing, the panel adopted a motion recommending the
management of Chugach and ML&P seek ways to implement the savings identified by
the Navigant study and report back on their progress within 60 days.

"After 20 years and numerous efforts to make Southcentral's utilities more
efficient, this is a real breakthrough which could save ratepayers some serious
money," said Mayor Begich. "I have directed ML&P to fully cooperate in
discussions with Chugach to look at every possible avenue of efficiencies."

"The Chugach Board firmly believes that it has the obligation to deliver more
value to our ratepayer members. As such, we have been ready to pursue joint
generation and joint operations with ML&P and other utilities. This follows the
recommendation of the Blue Ribbon Panel to achieve more cost savings for our
ratepayer members" said Chugach Board Chair Vazquez. "We are delighted the Panel
has decided to proceed in this manner and are optimistic that we can achieve
savings for our ratepayers."

                                     -MORE-



Utility merger release        2-2-2-2                                     2/8/08



Navigant delivered its Draft Phase I report to the Panel in November 2007. Since
then, the public provided the panel a wide range of comments at a public hearing
in late November. Navigant's report identified potential savings of almost $200
million as possible through either a merger of the utilities or by jointly
working together in areas such as construction of future generating capacity and
consolidation of utility functions that are presently duplicated at each
utility.

A copy of the motion adopted by the Panel can be seen on the Municipality's
website at http://www.muni.org/Mayor/mlpcea.cfm.


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