§838m Power marketing administration transmission borrowing authority

Summary

Provides $10,000,000,000 in extra borrowing authority to help pay for building, buying, and replacing parts of the Federal Columbia River Power System and to support BPA’s work under the Pacific Northwest Electric Power Planning and Conservation Act. No more than $10,000,000,000 can be outstanding at one time, and the amount borrowed cannot exceed $6,000,000,000 by the end of fiscal year 2028. The BPA Administrator must issue an updated financial plan by the end of fiscal year 2022. When making the plan, the Administrator must think about how to use the borrowing across BPA’s responsibilities, follow asset management and good business practices, get customer input on a draft, and consider customer recommendations about which investments to prioritize. The Administrator must also hold periodic reviews with customers and stakeholders about finances and costs, try to keep power and transmission rates as low as reasonably possible while using sound business practices, and fully repay any borrowed Treasury funds under the proper self-financed federal budget accounts.