It may not fund more than a few minutes of the Federal budget, but the Bonneville Power Administration is doing its part to keep the cash flow going to Washington.
BPA said its $692 million payment to the U.S. Treasury, covering fiscal 2013, was its 30th consecutive annual full and on time installment. The regional power agency has sent the treasury $23.8 billion over the past three decades.
BPA, funded by customers in four states, continues to operate during the current federal government shutdown.
The 2013 deposit included a $224 million principal payment, $367 million in interest, and $59 million in irrigation assistance payments. Another $36 million is from ratepayers funds retirement benefits. Of the $692 million total payment, $131 million is paid by applying Treasury credits for non-power-related fish mitigation efforts and for interest earnings.
The principal payment is lower than in the past because BPA was scheduled to repay a higher amount of nonfederal debt this year. This year BPA repaid $513 million of nonfederal debt principal, of which $500 million was related to Energy Northwest projects. Energy Northwest develops, owns and operates a variety of generating resources, including the Northwest’s only nuclear generating facility.
BPA also paid operations and maintenance expenses for the U.S. Army Corps of Engineers, Bureau of Reclamation, as well as U.S. Fish and Wildlife service projects directly funded by BPA.