United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office Accounting and Information Management Division author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 1996-09-19 monographic deposited born digital 18 p. GA 1.13:T-AIMD-96-169 https://www.govinfo.gov/app/details/GAOREPORTS-T-AIMD-96-169 P0b002ee1803856fa f:ai96169t DGPO 2010-08-12 2011-03-24 GAOREPORTS-T-AIMD-96-169 machine generated eng fdlp REPORT GAOREPORTS-T-AIMD-96-169 T-AIMD-96-169 Utility rates Electric power transmission Electric utilities Federal corporations Hydroelectric powerplants Energy costs Interest rates Debt Civil Service Retirement System Federal Employees Retirement System DOE Richard B. Russell Project Washoe Project (CA) Pick-Sloan Missouri Basin Program Central Valley Project (CA) Shasta Dam (CA) Colorado River Storage Project Glen Canyon Dam (AZ) DOE Harry S. Truman Project DOE Mead-Phoenix Transmission Line Project Testimony AIMD GAO discussed the Southeastern, Southwestern, and Western Power Administrations, focusing on: (1) the three power marketing administrations' (PMA) recovery of their power-related costs; (2) federal subsidies for financing power-related capital projects; and (3) differences between PMA and nonfederal utilities on power production costs. GAO noted that: (1) the three PMA do not fully recover all power-related costs in the areas of employee health and retirement benefits, project construction or operation, capital costs for incomplete facilities, environmental mitigation costs, and deferred operations and maintenance and interest expense payments; (2) the annual unrecovered cost for these activities in fiscal year 1995 was about $83 million; (3) a federal financing subsidy of about $228 million exists because interest expense on the Treasury debt is higher than the interest income Treasury receives from PMA; (4) in 1994, the average PMA revenue for wholesale electricity sales was more than 40 percent lower than nonfederal utilities; (5) PMA production costs were generally well below the costs for nonfederal utilities, primarily because PMA rely on low-cost means of electricity generation and generally do not pay taxes; and (6) increased competition and access to transmission lines and the increasing influence of low-cost independent producers could affect PMA costs and revenues in the future. https://www.govinfo.gov/content/pkg/GAOREPORTS-T-AIMD-96-169/html/GAOREPORTS-T-AIMD-96-169.htm https://www.govinfo.gov/content/pkg/GAOREPORTS-T-AIMD-96-169/pdf/GAOREPORTS-T-AIMD-96-169.pdf GAO/T-AIMD-96-169 https://www.govinfo.gov/app/details/GAOREPORTS-T-AIMD-96-169 Testimony GAO/T-AIMD-96-169; Power Marketing Administrations: Cost Recovery, Financing, and Comparison to Nonfederal Utilities; Utility rates Electric power transmission Electric utilities Federal corporations Hydroelectric powerplants Energy costs Interest rates Debt Civil Service Retirement System Federal Employees Retirement System DOE Richard B. Russell Project Washoe Project (CA) Pick-Sloan Missouri Basin Program Central Valley Project (CA) Shasta Dam (CA) Colorado River Storage Project Glen Canyon Dam (AZ) DOE Harry S. Truman Project DOE Mead-Phoenix Transmission Line Project