§838m Power Marketing Administration Transmission Borrowing Authority

Summary

The Bonneville Power Administration (BPA) can borrow up to $10,000,000,000 at any one time to help pay for building, buying, and replacing parts of the Federal Columbia River Power System and to carry out BPA’s work under the Pacific Northwest Electric Power Planning and Conservation Act. That extra borrowing cannot exceed $6,000,000,000 by fiscal year 2028. The BPA Administrator must issue an updated financial plan by the end of fiscal year 2022. The plan must explain how the borrowing would be used and allocated across BPA’s missions, following asset-management and good business practices. Before finalizing the plan, the Administrator must share a draft with customers, get their input, and consider their suggestions about which investments to prioritize. The Administrator must also meet with customers and stakeholders through regular reviews about costs and finances and, as much as possible while following sound business practices, aim for the lowest reasonable power and transmission rates. Any money borrowed under this authority must be fully repaid to the Treasury under the appropriate self-financed federal budget accounts.