BPA Pays Treasury in Full and On Timeby Staff
BPA Journal - November 2004
BPA paid the U.S. Treasury $1.053 billion on Sept. 30. It was the 21st straight year in which BPA has made its annual Treasury payment in full and on time.
It is particularly gratifying to announce our Treasury payment within weeks of announcing a reduction in wholesale power rates, said Administrator Steve Wright. It means a stringent cost-management program is paying off and that we are regaining the financial stability we had prior to the West Coast energy crisis.
The payment is a return, with interest, on the U.S. taxpayer investment in the Federal Columbia River Power System the federal hydropower dams and transmission grid.
BPA paid the Treasury $592 million in principal and $420 million in interest, plus $41 million in other obligations. Of that, $30.9 million assures that ratepayers, not taxpayers, fully fund postretirement benefit programs for Federal Columbia River Power System employees.
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