§838m Power Marketing Administration Transmission Borrowing Authority

Summary

Provides an extra $10,000,000,000 in borrowing power to help pay for building, buying, and replacing parts of the Federal Columbia River Power System and to let the Bonneville Power Administration (BPA) carry out its planning and conservation duties. The total borrowed under this extra authority cannot exceed $6,000,000,000 by fiscal year 2028. The BPA Administrator must publish an updated financial plan by the end of fiscal year 2022. When making the plan, the Administrator must think about how the borrowing will be used across BPA’s responsibilities, follow asset-management and sound business practices, share a draft with customers, and consider customer recommendations about which investments to prioritize. The Administrator must also hold periodic reviews with customers and stakeholders about finances and cost control and, to the extent possible, follow policies that keep power and transmission rates as low as sound business principles allow. Any amounts borrowed under this authority must be fully repaid to the Treasury under the agency’s self-financed federal accounts.