State finalizes purchase of Fairbanks Natural Gas

Interior Alaska residents are expected to see a drop in their energy bills this winter now that the state has purchased Fairbanks Natural Gas.

The Fairbanks Daily News-Miner reports that the Alaska Industrial Development and Export Authority closed on the purchase of Pentex, the parent company that owns the natural gas distributor, last week. The purchase includes a gas processing facility in Point MacKenzie and two gas-powered trucks used to transport the fuel.

Gov. Bill Walker proposed the purchase earlier this year. In June the authority’s board of directors approved spending of up to $52.5 million for the purchase.

AIDEA spokesman Karsten Rodvik says a rate change is expected and documents from when the board approved the sale estimate customers will see their bills drop about 13.3 percent.