As of Wednesday, February 7, 2018
PORTLAND, Ore. The Bonneville Power Administration outlined how it will deliver valuable benefits to the Pacific Northwest in the face of challenging industry dynamics and other risks that could otherwise hinder its commercial performance.
Bonneville’s 2018-2023 Strategic Plan centers on sustaining Bonneville’s longstanding vision to be an engine of the region’s economic prosperity and environmental sustainability.
“This plan will serve as the reference point for everything we at BPA do over the next five years,” said BPA Administrator and Chief Executive Officer Elliot Mainzer. “It all comes down to our commercial success. With that, we can deliver on all of our public responsibilities -- from low rates to environmental stewardship -- which are so vital to the people of the Northwest.”
Bonneville plays a uniquely valuable role in the region through a multi-faceted public service mission, bringing the benefits of reliable, affordable and clean electricity to communities large and small.
But shifting industry dynamics and other risks, such as low wholesale energy prices and changing customer needs, are working against BPA’s cost competitiveness and commercial performance.
Bonneville has identified four strategic goals that will address these risks, while also leveraging opportunities presented by evolving markets and technology developments.
- Strengthen financial health: BPA is taking aggressive actions to manage costs, which will help the agency offer competitive rates; and build financial resiliency to ensure it can withstand market volatility or other disruptive events.
- Modernize asset and system operations: As the steward of valuable federal assets, BPA is adopting an asset-management approach to extract the highest economic value, while also preparing to operate these assets in evolving markets. This includes taking advantage of new opportunities to maximize revenues and potentially decrease the need for transmission expansion.
- Provide competitive power products and services: In addition to managing costs and leveraging market opportunities, BPA will invest wisely in energy efficiency and fish and wildlife, and support the Columbia River Treaty modernization, which could support the development of more competitive BPA products and services, among other benefits.
- Meet transmission customer needs efficiently and responsively. In response to calls for greater clarity on how to access additional transmission service, BPA will standardize and streamline its transmission products, services and processes. The agency will also develop a more flexible, scalable, economical and operationally efficient approach to meeting customers’ needs, consistent with the commitment BPA made when it decided in 2017 not to build the estimated $1.2 billion I-5 Corridor Reinforcement Project.
Bonneville developed this strategy in response to the needs and interests of its power customers.