Bonneville Power makes annual payment

PORTLAND, Ore. (KIFI/KIDK)-The Bonneville Power Administration (BPA) has made a $736 million payment to the U.S. Treasury.   The agency notes the payment was on time and in-full.

BPA, which provides wholesale electricity to several regional utilities, including Idaho Falls Power, Fall River Electric, Lower Valley Energy, and Raft River, has made cumulative payments to the Treasury of more than $31 billion.  The agency is a self-financed power marketing administration that receives no annual appropriation of funding from Congress. BPA recovers its costs through revenues from the sale of electric power and transmission services.

“I am so pleased to announce our 37th consecutive treasury payment,” said Michelle Manary, BPA’s chief financial officer. “This year was full of historic and unpredictable events that impacted the region’s energy and economic landscape. BPA remained committed through all of it to meeting customer needs and executing our financial plan to the best of our ability.”

The payment returns a portion of the taxpayers’ investment in the Federal Columbia River Power System.   BPA sets its rates to maintain an annual 97.5% probability of making the annual payment.  This year’s payment includes $471 million in principal, $208 million in interest, and about $57 million for a variety of other costs, including irrigation assistance.