SEATTLE, Wash., Sept. 24, 2002 — The region’s leading public and investor owned utilities have joined to propose a plan for the Bonneville Power Administration (BPA) aimed at maintaining a sufficient and affordable power supply for the region over the next 20 years.
The group will present its proposal at four upcoming public meetings with the BPA and the Northwest Power Planning Council. The meetings are scheduled to seek comments on how BPA will distribute the benefits of the federal hydropower system after 2006.
“BPA continues to be an invaluable asset for Northwest citizens and our region’s economy,” said Patrick Reiten, president and CEO PNGC Power. “Our proposal protects this resource, ensuring that the federal hydroelectric system benefits are maintained and fairly allocated among consumers over the long-term.”
More than a year in the making, the proposal marks an unprecedented degree of cooperation among numerous public and private interests — often split by conflicting interests — in resolving regional energy issues
“This plan is the product of nearly every utility in the Northwest,” said Bill Gaines, vice president Power Supply for Puget Sound Energy. “It essentially takes BPA out of the market as a large buyer and seller of energy, minimizing regional price swings. In addition, the creation of stable 20-year contracts with customers increases the likelihood that BPA can make payments to the U.S. Treasury for system debt which, in turn, protects this regional resource from outside interests.”
Source: Portland General Electric