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FY 2008 Congressional Budget

FY 2008 Congressional Budget. Southeastern, Southwestern, and Western Area Power Administrations February 2007. FY 2006 v. FY 2008 CB SOUTHEASTERN POWER ADMINISTRATION ($000). FY 2006 FY 2008 CB Program Direction $ 5,544 $ 6,463

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FY 2008 Congressional Budget

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  1. FY 2008 Congressional Budget Southeastern, Southwestern, and Western Area Power Administrations February 2007

  2. FY 2006 v. FY 2008 CBSOUTHEASTERN POWER ADMINISTRATION($000) FY 2006FY 2008 CB Program Direction $ 5,544 $ 6,463 Purchase Power & Wheeling $47,198$62,215 Total Program $52,742 $68,678 Less Offsetting Collections (PPW) ($32,713) ($48,413) Less Alternative Financing (PPW) ($14,485)($13,802) Total Budget Authority $ 5,544 $ 6,463

  3. SOUTHEASTERN POWER ADMINISTRATIONFY 2008 Request ($000) Alternative Offsetting AppropriationFinancing CollectionsTotal Program Direction $6,463 --- --- $6,463 Purchase Power & Wheeling --- $13,802 $48,413 $62,215 Total Program $6,463 $13,802 $48,413 $68,678 Alternative Financing is Net Billing. The FY 08 budget includes requested permanent authority for Reimbursable Activities

  4. FY 2006 v. FY 2008 CBSOUTHWESTERN POWER ADMINISTRATION($000) FY 2006FY 2008 CB Program Direction $19,758 $22,214 Operation & Maintenance $ 6,972 $11,978 Construction $ 3,134 $ 4,300 Purchase Power & Wheeling $12,400$45,000 Total Program $42,264 $83,492 Less Offsetting Collections (PPW) ($ 3,000) ($35,000) Alternative Financing ($ 9,400)($18,050) Total Budget Authority $29,864 $30,442

  5. SOUTHWESTERN POWER ADMINISTRATIONFY 2008 Request ($000) Alternative Offsetting AppropriationFinancing CollectionsTotal Program Direction $21,337 $877 --- $22,214 Operations & Maintenance $ 5,674 $6,304 --- $11,978 Construction $ 3,431 $869 --- $ 4,300 Purchase Power & Wheeling --- $10,000 $35,000 $45,000 ___________________________________________ Total Program $30,442 $18,050 $35,000 $83,492 Alternative Financing includes Net Billing, Bill Crediting, and Reimbursable Activities (Customer Advances)

  6. FY 2006 v. FY 2008 CBWESTERN AREA POWER ADMINISTRATION($000) FY 2006FY 2008 CB Program Direction $143,667 $157,304 Operation & Maintenance $ 47,295 $ 53,271 Construction & Rehabilitation $ 53,957 $ 62,915 Purchase Power & Wheeling $321,397 $425,254 Utah Mitigation & Conservation $ 6,633$ 7,167 Total Program $572,949 $705,911 Less Alternative Financing & Offsetting Collections ($341,297)($504,881) Total Budget Authority $231,652 $201,030

  7. WESTERN AREA POWER ADMINISTRATIONFY 2008 Request ($000) Customer Power Net Billing/ AppropriationAdvancesReceiptsReimbursableTotal Program Direction $138,492 $15,804 $ 3,008 --- $157,304 Operation & Maintenance $ 40,371 $11,971 $ 929 --- $ 53,271 Construction & Rehabilitation $ 15,000 $47,915 --- --- $ 62,915 Purchase Power & Wheeling --- $11,717 $258,702 $154,835 $425,254 Utah Mitigation & Conservation $ 7,167 --- --- --- $ 7,167 _________________________________________________ Total Program $201,030 $87, 407 $262,639 $154,835 $705,911

  8. “Agency Rate” Provision • Assign “agency rates” to new obligations beginning in FY 2007 (FY 2008 if House version of CR passes) • The “agency rate” is the rate at which federal corporations and BPA borrow • Applicable to administratively set interest rates • All Southeastern and Southwestern investments • Investments for up to 8 Western projects • New investments 2007-2012: Central Valley, Collbran, Pacific Intertie, Parker-Davis, Rio Grande • No new investments 2007-2012: Falcon-Amistad, Provo River, and Washoe

  9. “Agency Rate” Provision • Rate impacts estimated at less than 1% • Revenue impacts of $2-3 million per year from FY 07 to FY 2012 for all three PMAs combined • “Agency rate” was 0.5% higher on average than yield rates from 1999-2006

  10. “Agency Rate” Provision • Rationale • Reflects risk associated with PMAs defaulting on payments owed to Treasury • Interest rates similar to BPA, government corporations, and other government entities • Implementation • Modification of DOE Order RA6120.2 in an Administrative Procedure Act process • Rate adjustments in Administrative Procedure Act processes as needed

  11. Emergency PPW Provision • The PMAs must repay PPW funded through Continuing/Emergency Funds within 1 year • The rate impact in a given year will depend on the extent to which Continuing/Emergency Funds are used • No revenue impact over time because all PPW costs are recovered regardless of funding source

  12. Emergency PPW Provision • SEPA already does this for two of its systems • The PMAs are working out the details of implementation with OMB • Implementation • SEPA: FY 2008-2009 for remaining systems • WAPA: FY 2008 • SWPA: FY 2009

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