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PARTIAL ASSIGNMENT OF BRADLEY LAKE HYDROELECTRIC PROJECT
                 AGREEMENT FOR THE SALE AND PURCHASE OF ELECTRIC POWER

       This agreement for partial assignment is made as of the 30th day of June,
2003, between Alaska Electric Generation and Transmission Cooperative, Inc.
("Assignor") and Alaska Electric and Energy Cooperative, Inc.
("Assignee").

       WHEREAS, on December 8, 1987, Assignor entered into a contract with the
Alaska Power Authority ("APA"), Chugach Electric Association, Inc. ("Chugach"),
Golden Valley Electric Association, Inc. ("GVEA"), the Municipality of Anchorage
d/b/a Municipal Light and Power ("ML&P"), the City of Seward d/b/a Seward
Electric System ("SES"), Homer Electric Association, Inc. ("HEA") and Matanuska
Electric Association, Inc. ("MEA"), titled the Bradley Lake Hydroelectric
Project Agreement for the Sale and Purchase of Electric Power ("Power Sales
Agreement") , wherein APA agreed to sell, and Chugach, GVEA, ML&P, SES, and
Assignor (on behalf of HEA and MEA), agreed to purchase, electric service from
the Bradley Lake Hydroelectric Project under the terms set forth in the Power
Sales Agreement (a copy of which is attached to this agreement);

       WHEREAS, Assignor has used the electric power purchased from the Bradley
Lake Project on behalf of HEA, as well as power from other sources, to provide
the wholesale power needs of HEA pursuant to the terms of a wholesale power
agreement between Assignor and HEA;

       WHEREAS, Assignee has obtained from the Regulatory Commission of Alaska
("RCA") a certificate of public convenience and necessity to serve as the
wholesale power provider of HEA;

       WHEREAS, Assignee and Assignor also have obtained approval from the RCA
of a new wholesale power agreement between Assignee and HEA under which Assignee
will serve the wholesale power needs of HEA, and rescission of the current
wholesale power agreement between Assignor and HEA;

       WHEREAS, Assignor intends, to transfer the majority of its assets held
for the benefit of HEA to Assignee; and

       WHEREAS, the Power Sales Agreement is by its terms assignable with the
consent of the Bradley Lake Hydroelectric Project Management Committee, and
Assignee desires to acquire the rights and is willing to assume the obligations
of assignor on behalf of HEA under the Power Sales Agreement.

       NOW, THEREFORE, the parties agree as follows:

1.     Assignor assigns to Assignee such of Assignor's rights, interest and
       duties in the Bradley Lake Hydroelectric Project Agreement for the Sale
       and Purchase of Electric Power ("Power Sales Agreement") as are held or
       owed by Assignor on behalf of HEA.

Assignment - Bradley Lake Hydroelectric Project,
Agreement for the Sale and Purchase of Electric Power
Page 1 of 13
<PAGE>

2.     Assignee assumes and covenants to perform all the obligations of
       Assignor owed on behalf of HEA under the Power Sales Agreement, and
       guarantees to hold Assignor harmless from any claim or demand made
       under the Power Sales Agreement to the extent such claim or demand
       relates to obligations owed by Assignor on behalf of HEA.

       IN WITNESS WHEREOF, the parties have executed this agreement as of the
date set forth above.

                                       ALASKA ELECTRIC GENERATION AND
                                       TRANSMISSION COOPERATIVE, INC.

                                       By:      /s/ N. L. Story
                                                ----------------
                                                N. L. Story, Class A Manager

                                       ALASKA ELECTRIC AND ENERGY
                                       COOPERATIVE, INC.

                                       By:      /s/ Hugh Chumley
                                                ----------------
                                                Hugh Chumley, President

Assignment - Bradley Lake Hydroelectric Project,
Agreement for the Sale and Purchase of Electric Power
Page 2 of 13ASSIGNMENT OF
                 AGREEMENT FOR BRADLEY LAKE RESOURCE SCHEDULING

                This agreement for assignment is made as of the 30th day of
June, 2003, between Alaska Electric Generation and Transmission Cooperative,
Inc. ("Assignor"), and Homer Electric Association, Inc. ("Assignee").

                WHEREAS, on September 29, 1992, Assignor and Assignee entered
into a contract with Chugach Electric Association, Inc. ("Chugach") titled
"Agreement for Bradley Lake Resource Scheduling" (the "Contract"), wherein the
parties agreed to the scheduling and pooling, under the terms set forth in the
Contract (a copy of which is attached to this agreement), of Assignor's share of
the Bradley Lake Hydroelectric Project capacity and/or energy;

                WHEREAS, Alaska Electric and Energy Cooperative, Inc. ("AEEC")
has obtained from the Regulatory Commission of Alaska ("RCA") a certificate of
public convenience and necessity to serve as the wholesale power provider of
Assignee;

                WHEREAS, AEEC and Assignor also have obtained approval from
the RCA of a new wholesale power agreement between AEEC and HEA under which AEEC
will serve the wholesale power needs of Assignee, and rescission of the current
wholesale power agreement between Assignor and Assignee;

                WHEREAS, under the terms of the new wholesale power contract
Assignee assumed the obligations and obtained the rights of Assignor with
respect to the Bradley scheduling rights of Assignor;

                NOW, THEREFORE, the parties agree as follows:

1. Assignor assigns to Assignee all of Assignor's rights, interest and duties in
the Agreement for Bradley Lake Resource Scheduling (the "Contract") with Chugach
Electric Association, Inc., and Assignee, executed on September 29, 1992.

2. Assignee assumes and covenants to perform all the obligations of Assignor
under the Contract, and guarantees to hold Assignor harmless from any claim or
demand made under the Contract.

3. Assignor and assignee intend that this Assignment not diminish in any way the
rights Chugach has under the Agreement being assigned and to assure that Chugach
receives the full benefit of the Agreement being assigned notwithstanding that
different obligations are being assumed by HEA and AEEC. Specifically, this
assignment does not diminish Chugach's rights relative to AEG&T.

Resource Scheduling
Page 1 of 2

<PAGE>

                IN WITNESS WHEREOF, the parties have executed this agreement as
of the date set forth above.

                                            ALASKA ELECTRIC GENERATION AND
                                            TRANSMISSION COOPERATIVE, INC.

                                            By:       /s/ N. L. Story
                                                      ---------------
                                                      Class A Manager

                                            HOMER ELECTRIC ASSOCIATION, INC.

                                            By:       /s/ David R. Carey
                                                      ------------------
                                                      President

                              CONSENT TO ASSIGNMENT

                Chugach Electric Association, Inc., consents to the foregoing
assignment of the Agreement for Bradley Lake Resource Scheduling.

                                            CHUGACH ELECTRIC ASSOCIATION, INC.

                                            By:      /s/ Evan J. Griffith
                                                     --------------------
                                            Title:   CEO
                                            Date:    June 10, 2003

Assignment - Bradley Lake Resource Scheduling
Page 2 of 2ASSIGNMENT OF
                 AGREEMENT FOR SALE OF ELECTRIC POWER AND ENERGY

               This agreement for assignment is made as of the 30th day of
June, 2003, between Alaska Electric Generation and Transmission Cooperative,
Inc. ("Assignor") and Alaska Electric and Energy Cooperative, Inc. ("Assignee").

               WHEREAS, on September 27, 1985, Assignor entered into a contract
with Chugach Electric Association, Inc. ("Chugach") and Homer Electric
Association, Inc. ("HEA") titled Agreement for Sale of Electric Power and Energy
(the "Contract"), wherein Chugach agreed to sell, and Assignor agreed to
purchase, under the terms set forth in the Contract (a copy of which is attached
to this agreement), electric power and energy for delivery to HEA;

               WHEREAS, Assignor has used the electric power and energy
purchased from Chugach under the Contract, as well as power from other sources,
to provide the wholesale power needs of HEA pursuant to the terms of a wholesale
power agreement between Assignor and HEA;

               WHEREAS, HEA and Assignor have rescinded the wholesale power
agreement under which Assignor provided the wholesale power and energy needs of
HEA, and HEA has entered into a new agreement with Assignee wherein Assignee
will provide the wholesale power and energy needs of HEA; and

               WHEREAS, the Contract is by its terms assignable, and Assignee
desires to acquire the fights and is willing to assume the obligations of
Assignor under the Contract;

               NOW, THEREFORE, the parties agree as follows:

          1.   Assignor assigns to Assignee all Assignor's rights, interest and
duties in the Agreement for Sale of Electric Power and Energy (the "Contract")
with Chugach Electric Association, Inc., and Homer Electric Association, Inc.,
executed by Assignor on September 27, 1985.

         2.    Assignee assumes and covenants to perform all the obligations of
Assignor under the Contract, and guarantees to hold Assignor harmless from any
claim or demand made under the Contract.

               IN WITNESS WHEREOF, the parties have executed this agreement as
of the date set forth above.

ASSIGNMENT-AGREEMENT SALE OF ELECTRIC POWER
Page 1 of 2
<PAGE>

                                 ALASKA ELECTRIC GENERATION AND
                                 TRANSMISSION COOPERATIVE, INC.

                                 By: /s/ N. L. Story
                                     ----------------
                                     N. L. Story, Class A Manager

                                 ALASKA ELECTRIC AND ENERGY
                                 COOPERATIVE, INC.

                                 By: /s/ Hugh Chumley
                                     ----------------
                                     Hugh Chumley, President

ASSIGNMENT-AGREEMENT SALE OF ELECTRIC POWER
Page 2 of 2

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