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Economic and dam related articles

Positive Revenue Results For BPA In FY 2012

by Ben Tansey
NW Fishletter, November 12, 2012

BPA last week reported positive net revenues for the second year in a row. The agency said the figure for fiscal 2012, which ended Sept. 30, came in at $87 million--$23 million more than the rate case estimate, but $20 million less than the more recent third-quarter estimate.

Cash reserves ended at $1.022 billion, $16 million ahead of last year. The agency also reported $953 million in FY 2012 capital project spending.

Power Services had actual net revenue of $39 million on operating revenues of $2.631 billion. The result was below the $53-million rate case estimate and the third-quarter forecast of $54 million.

Revenue (revenue less power purchases and transmission acquisition) came in $128 million below the rate case forecast, despite higher-than-expected stream flows. BPA said that was due to lower market prices, lower-than-expected preference loads, higher-than-expected transmission acquisition costs and smaller-than-expected 4(h)(10)(c) fish credits.

Bonneville noted that it was able to keep expenses $113 million below the rate case forecast.

Transmission Services ended FY 2012 with net revenue of $89 million on actual revenue of $965 million. The result was more than the rate case forecast of $57 million but somewhat less than the third-quarter estimate of $97 million. BPA said revenue was higher in part because Generation Integration Persistent Deviation penalties were higher than expected.


Ben Tansey
Positive Revenue Results For BPA In FY 2012
NW Fishletter, November 12, 2012

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