Bonneville Power proposes flat rates ahead
PORTLAND, Ore. (KIFI/KIDK)-The Bonneville Power Administration is proposing a flat wholesale power rate in its next fiscal year. Although rates may vary based on factors in specific utilities and retail rates, there will be no wholesale power rate increase.
Among those who purchase electricity from BPA are Idaho Falls Power, Fall River Electric, and Lower Valley Energy.
BPA is proposing a weighted average increase of approximately 11.6% in transmission rates.
Even without increased rates, Bonneville said it will be able to take measurable steps towards meeting its long-term strategic objectives. Among those, BPA plans to pay a portion of its capital program rather than borrow for those projects.
That "revenue financing" will dampen the impact rising debt would have on Bonneville's future power rates and borrowing authority.
“Fiscal discipline and customer satisfaction are the foundation for a prosperous future for BPA and the entities we serve,” said BPA Acting Administrator John Hairston. “Sticking to the principles laid out in our agency strategy has allowed us to bolster our financial health. Today’s proposal should make us even stronger.”
Bonneville Power operates 31 hydro-power dams in the Columbia River Basin and markets the output of the region's only nuclear plant.
Officially, today's announcement opens the BPA's BP-22 Rate Case and TC-22 Tariff Proceeding. It will culminate with a final proposal in July 2021. That will go to the Federal Energy Regulatory Commission and would become effective October 1,2021 through September 30, 2023.
You can learn more or comment on the proposal here.
