The programme is packaged in the state’s new energy plan and is available through the existing commercial fisheries loan programme. Geoff Whistler, a lending officer with the state Commerce Department’s Division of Investments, informed that the bill was signed by the lieutenant governor’s office last week and it is effective Sept. 27. He also added that it is permanently in the regulations and will be an ongoing program for fuel efficiency in commercial fishing vessels.
He also said that the loan can be applied to anything that will improve fuel efficiency, including overhauling an engine, replacing an engine or cleaning and maintenance. It is open to all commercial fishermen, with a few caveats, says Whistler. According to him twenty-five percent or more of their income in the last two years must come from commercial fishing, they must be an Alaska resident for at least the last two years, and have no past due child support or IRS taxes.
Whistler also said that southeast trollers who have overhauled their engines report huge fuel cost reductions. Halibut fisherman Jeneanne Holzman of the F/V Casino agreed saying that they had their engine rebuilt a few years ago and they didn’t appreciate then what a difference it would make. But it has kept their fuel costs in a reasonable frame. It is said that the energy loan interest rate is now at three percent, but Geoff Whistler said it will be variable until the loan is locked in.
