ERG was retained by the City of Aspen, Colorado to investigate the feasibility of the City’s acquisition of the electric assets and operations of the Holy Cross Electric Association (HCEA) that historically have provided electric service within certain portions of the City. In this regard, ERG staff developed a projection of future demand and energy for the City’s existing municipal electric system including potentially acquired customers. A valuation of HCEA’s electric system assets subject to acquisition by the City was performed. ERG staff also determined the costs and revenues associated with serving potentially acquired customers, as well as the economic/financial feasibility of the undertaking, and legal and regulatory aspects of the City’s proposed acquisition. A confidential report was prepared for the City Attorney concerning the analyses performed by ERG.