PORTLAND, Ore. — The Bonneville Power Administration will keep the average Tier 1 power rate and all transmission rates flat for the next two years, according to an administration press release.
The administration initiated the BPA-24 rate case in November of 2022 and the settlement was developed between the administration and the majority of its rate case payers.
The rate case settlement will take effect Oct. 1 and remain in force through Sept. 30, 2025, if approved by the Federal Energy Regulatory Commission.
The rate case includes $258 million on planned net revenue to hedge against market volatility and other unexpected losses.
The administration sets its rates to ensure that it can repay its annual obligation to the U.S. Treasury; in 2022 that payment was $950 million.