$18.3 million dollars – that’s the price an arbitration panel has set for the Confederated Salish and Kootenai tribes to buy Kerr Dam near Polson from PPL Montana. It’s a price close to what the tribes think is fair, and well below what PPL was asking.
On Monday, the American Arbitration Association determined the Confederated Salish and Kootenai Tribes would have to pay nearly $18.3 million to buy Kerr Dam from PPL Montana.
“We will have in 80 years to regain control of our own resources and we really see this as an important economic opportunity for the tribes to get Kerr Dam acquired and bring it under local control,” said Brian Lipscomb, the Energy Keepers Incorporated CEO.
An arbitration panel has determined the Salish and Kootenai Tribes would have to pay nearly $18.3 million to acquire a northwestern Montana hydroelectric dam from PPL Montana.
Energy Keepers Inc., a tribally-owned corporation, said Wednesday the tribes will notify the Federal Energy Regulatory Commission of their intent to acquire the Kerr Project southwest of Polson in September 2015.
An arbitrator has pegged a fair price for the Kerr Dam at a little more than $18.2 million, a much lower cost than what PPL Montana was asking the Confederated Salish and Kootenai Tribes to pay for the dam.
The number arrived at by the American Arbitration Association was announced during a Tuesday meeting at the Tribal headquarters in Pablo.
A price has been set for the Confederated Salish and Kootenai Tribes to acquire Kerr Dam next year – and the number is tens of millions of dollars closer to what the tribes said it was worth than what PPL Montana had sought.
CSKT almost immediately filed formal notice with the Federal Energy Regulatory Commission regarding their intent to acquire the Kerr Project.
The American Arbitration Association’s (AAA) panel has made a final ruling regarding the estimated conveyance price that Energy Keepers, Incorporated (EKI) will pay on behalf of the Confederated Salish and Kootenai Tribes (CSKT) to PPL Montana in order for CSKT to acquire the Kerr Hydroelectric Project.