FY 2022 - 2023 Rate Adjustments
During the FY 2022-23 rate period, power and/or transmission rates may be adjusted each fiscal year in accordance with the respective Cost Recovery Adjustment Clause (CRAC), the Reserves Distribution Clause (RDC), and the Financial Reserves Policy (FRP) Surcharge provisions (see Power General Rate Schedule Provisions, sections II.O, II.P, and II.Q and Transmission General Rate Schedule Provisions, sections II.G, II. H, and II.I).
FY 2022 Power Reserves Distribution Clause (RDC)
Based on the amount of financial reserves available for risk that were attributed to Power Services and BPA at the end of FY 2021, the Power RDC “triggered” resulting in a Power RDC Amount of $13.7 million. The Administrator determined that the entire amount would be used to reduce rates through a Power Dividend Distribution (Power DD) which results in a credit that is applied to December 2021 through September 2022 customer bills. The final Power RDC Amount of $13.7 million and the resulting Dividend Distribution rates are unchanged from the preliminary numbers.
The FY 2022 Power Dividend Distribution (Power DD) credit rate is 0.38 mills per kilowatthour and is equal to the Power RDC Amount divided by the sum of forecast billing determinants for December 2021 – September 2022. The Power DD Credit rate is calculated in accordance with the 2022 Power Rate Schedules and General Rate Schedule Provisions (GRSP section II.P.2) and will be used to bill PF and IP customers. The rate has also been used to adjust the December 2021 – September 2022 PF Tier 1 Equivalent energy rates.