The Bonneville Power Administration (BPA), which supplies about half of Clark County’s electricity through Clark Public Utilities, is projecting a $280M net loss this year due to drought and extreme weather. “Those factors weighed pretty heavily on our finances this year,” BPA senior spokesman Doug Johnson said.

“It’s still too early to tell or if BPA latest financial report will impact the local utilities rate payers,” Clark Public Utilities spokesman Damien Pesanti said.

The BPA projection is about $375M below its target for revenue, according to recent public statement. Such a significant loss when the administration was anticipating a $95M net revenue is a concern, Johnson acknowledged. “We’re dealing with a fair amount of uncertainty every time we calculate our rates,” Johnson said. By the end of the year the BPA expects to have $720M in reserves, as well as 97 days cash on hand. (Sarah Wolf, The Columbian 5.29.24)

For more information read the full article here:

https://www.columbian.com/news/2024/may/29/bpa-projects-280m-loss-drought-extreme-weather-hit-bonneville-power-administration-revenues/?utm_source=ground.news&utm_medium=referral

or the BPA press release here:

https://www.bpa.gov/about/newsroom/news-articles/20240529-high-market-prices-and-dry-conditions-drive-second-quarter-financial-res

This news is significant because the Clark PUD Commissioners approved a Load Following Contract provision with the BPA on June 18, 2024.