BPA Makes 36th Consecutive
The Bonneville Power Administration made its 36th consecutive U.S. Treasury payment today on time and in full. This year's $1.06 billion payment brings BPA's cumulative payments to the Treasury during those 36 years to over $30 billion.
"Our annual treasury payment is the final bill of the year and paid after BPA has met every other financial obligation," said Michelle Manary, BPA's chief financial officer. "It demonstrates our commitment to fiscal responsibility and sustained financial strength."
BPA is a self-financed power marketing administration that receives no annual appropriation funding from Congress. Instead, BPA primarily recovers its costs through revenues from the sale of electric power and transmission services.
BPA sets its rates to maintain an annual 97.5 percent probability of making this payment. This year's payment to the U.S. Treasury includes $734 million in principal and $232 million in interest. The remaining $97 million covers a variety of other costs, including irrigation assistance that BPA provides to help irrigators repay their share of certain Bureau of Reclamation projects.
This year's $1.06 billion payment brings BPA's cumulative payments to the Treasury during those 36 years to over $30 billion.
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