An inaccurate account of the financial health of the Bonneville Power Administration is being played out in some Northwest news outlets — and now on the national stage — that must be addressed. What’s at stake is far more than the agency’s essential core duty of marketing clean, renewable and affordable electricity to Northwest citizens and businesses.
While it’s true that BPA is under incredible cost pressures, the nonprofit, community-owned Northwest utilities that make up the bulk of BPA’s electricity revenues are working to help BPA reduce its costs and boost its revenue opportunities — such as in energy markets that value carbon-free power over fossil-fueled sources. BPA’s mission is multipurpose, and we in public power understand the crucial role the agency plays in our region, which is why it is important not to conflate our sustained push for BPA’s competitiveness with an unproductive narrative attempting to question the agency’s near-term financial solvency.
BPA has long been a productive and successful engine of the Northwest economy. In fact, so much so that some have suggested in the past that BPA’s assets should be privatized in order to generate revenues for the U.S. Treasury – only to face fierce opposition from both sides of the aisle in the Northwest. But with that success has come a steady ladling onto the agency of additional obligations that were manageable a decade or two ago. With growing industry competitiveness, and with growing obligations that BPA must now meet, it’s important to take a fresh look at whether some of these costs are appropriate for BPA to bear alone.