BPA makes 41st straight Treasury payment

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BPA makes 41st straight Treasury payment

October 01, 2024

This year marks the 41st consecutive year BPA made its Treasury payment on time and in full.

This year marks the 41st consecutive year BPA made its Treasury payment on time and in full.

On Sept. 30, the Bonneville Power Administration made its annual payment to the U.S. Department of the Treasury for the 41st consecutive year on time and in full, bringing cumulative payments to approximately $35.4 billion over this period. The total payment for fiscal year 2024 was $792.3 million.

"Making this payment on time and in full for the 41st consecutive year demonstrates BPA's financial strength, and provides clear evidence our financial strategy is working," said Marcus Harris, chief financial officer. "This consistency contributes to our strong credit ratings and amplifies our value to the region."

This year's payment includes $508.3 million in principal and $231.9 million in interest. The principal includes approximately $80 million of additional federal debt payment associated with the fiscal year 2023 Reserves Distribution Clause for Transmission Services. The remaining $52.1 million covers a variety of other costs, including irrigation assistance payments that BPA provides to help irrigators repay their share of certain Bureau of Reclamation projects.

BPA is a self-financed power marketing administration that receives no annual appropriation funding from Congress. Instead, BPA recovers its costs primarily through the sale of electric power and transmission services.

Each year, BPA pays back to the U.S. Treasury a portion of the taxpayers' investment in the Federal Columbia River Power System, which includes the federal hydropower dams that produce renewable electricity and the transmission system.

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